Even if you’re not ready to jump ship and go electric just yet, we bet current fuel prices have at least made you more interested in EVs.
Electric cars are still more expensive than petrol or diesel cars when purchased new, but used examples can often be cheaper.
People motoreasy Electric cars have come up which have the fastest depreciation.
They analyzed the prices of popular models of the new EV and compared them with the average price of the 2019 variant bought second hand.
MotorEasy CEO Duncan McClure Fisher said: “Buying a new car at the moment is quite a challenge, thanks to waiting lists and inflated prices.
“If you’re happy buying a used car, a car that’s two or three years old can save you a fortune.”
But MotorEasy pointed out that there are some drawbacks to buying a used one.
McClure continued: “Remember that a (used) car may be out of its manufacturer warranty period if it is more than 3 years old.
“If that’s the case, we’d recommend purchasing an extended warranty to protect yourself from unexpected costly repairs.”
With that in mind, here are the five fastest depreciating EVs and some of the best EV bargains around right now.
Kia Soul EV
Taking the top spot in the list is the Kia Soul which lost 49% of its value in 2022 as compared to the 2019 edition.
Small SUVs saw the biggest price drop, with an average loss of £17,851.
Its 280-mile range is impressive for its size and price and the Soul’s quirky look will turn heads.
Next up is the Renault Zoe, which MotorEasy has dropped by almost £10,000 – or 39% – in value since 2019.
This means that the average example used since 2019 costs £15,756.
The Zoe’s range of around 250 miles is fantastic for a small car and its fast speed and dinky dimensions make it great for around town.
The used 2019 Jaguar I-Pace costs around £42,500, dropping about 35% from its original £65,620 price.
It’s still out of reach for most people, but represents a healthy savings on an EV that’s actually great and fantastic to drive with a healthy 295-mile range.
Smart For Two EQ
Smart’s little ForTwo is one of the best cars for urban driving—especially if you go for the EQ electric version.
It cost £22,775 in 2019, but now, after a 35% drop with depreciation, costs around £14,700 today.
Its modest range of about 60 miles isn’t much, but when was the last time you drove 60 miles around town?
hyundai ionic electric
This recently launched Hyundai Ioniq 5 may not be as jaw-droppingly good looking, but the old Ioniq is still a great EV.
It was actually an EV a hybrid and a plug-in hybrid came in, but all but comfortable and easy to drive with decent interior space for five people. Electric’s 124-mile range meets the urban needs of most people.
Today you can pick up an Ioniq Electric for 33% less than new, with used examples costing around £22,645.