Sunday, June 26, 2022

EV MONEY I’m a car expert and these are the best deals on USED electric cars

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EVEN if you’re not ready to jump off the boat and go electric just yet, we bet current fuel prices have at least piqued your interest in EVs.

On average, electric cars are still more expensive to buy new than petrol or diesel cars, but used ones can often be cheaper.

The folks at MotorEasy came up with the electric cars that have been depreciating the fastest.

They analyzed the price of popular new EV models and compared them to the average price of a 2019 version bought used.

Duncan McClure Fisher, CEO of MotorEasy, said: “Buying a new car is quite a challenge at the moment due to waiting lists and inflated prices.

“If you like buying used, you can save a fortune on a two or three year old car.”

But MotorEasy pointed out that there are some downsides to buying used.

McClure continued: “Remember that if a (used) car is over 3 years old it is likely to be out of its manufacturer’s warranty.

“In this case, we recommend purchasing an extended warranty to protect against unexpected expensive repairs.”

With that in mind, here are the five fastest depreciating EVs and some of the best used EV bargains available right now.

At the top of the list is the Kia Soul, which lost 49% of its value in 2022 compared to the 2019 version.

The small SUV saw the biggest price drop, losing an average of £17,851.

Its 280-mile range is impressive for its size and price, and the Soul’s quirky looks will turn heads.

Next is the Renault Zoe, which MotorEasy estimates has fallen in value by around £10,000 since 2019 – or 39%.

That means the average pre-owned 2019 example is £15,756.

The Zoe’s range of around 250 miles is brilliant for a small car, and its punchy acceleration and tiny dimensions make it great around town.

Losing around 35% of its original value of £65,620 leaves pre-owned 2019 Jaguar I-Paces at around £42,500.

That’s still well out of reach for most people, but represents a healthy saving on an electric vehicle that’s genuinely luxurious inside and is brilliant to drive with a healthy 295-mile range.

The small Smart ForTwo is one of the best cars for city driving – especially if you choose the electric version EQ.

It cost £22,775 in 2019 but now, after a 35% drop, with depreciation costs around £14,700 today.

Its modest range of around 60 miles isn’t much, but when was the last time you drove 60 miles across town?

This isn’t the drop-dead gorgeous Hyundai Ioniq 5 that was recently launched, but the older Ioniq is still a great EV.

An EV, a hybrid, and a plug-in hybrid did come, but all are comfortable and easy to drive, with decent interior space for five. Electrics’ 124-mile range covers most people’s urban needs.

Today you can pick up an Ioniq Electric for 33% less than new, with pre-owned examples costing around £22,645.

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