The modern electric cars that we see today have only been around for just ten years. As years passed after their introduction to the market, the technology behind them has seen significant improvement. Ecologists, scientists, and engineers are constantly working to develop new ways for consumers to drive on the road without polluting the Earth and damaging the atmosphere. Having an electric car is a step further in reducing your carbon footprint.
Purchasing a used vehicle has its advantages and advantages, is buying a used electric vehicle any different from conventional ones? Having an electric car may not be the best choice for everyone. Here are some of the reasons why you might or might not consider buying a used electric car.
1. Bargain price
Just like normal car-shopping, naturally, used cars are cheaper than new ones. That is a no-brainer. Buying a used electric car can save you thousands of dollars due to depreciation. Car depreciation is hitting the hardest during the first few years of vehicle usage, but then it slowly tapers down. According to Bloomberg studies, the average resale value of an electric vehicle is less than 40% to 70% of the price of new ones. Electric cars are a bargain right now, thanks to this heavy initial depreciation and the rapid advancement of technology. You will find them for less than $10,000. You can find a conventional vehicle in this price range, but its mileage is pretty much doubled or tripled over the used electric ones. This means that used electric cars if you are lucky, are even higher in quality than used conventional vehicles.
2. Smooth driving experience
Electric cars’ silent and smooth driving deliver a luxurious driving experience than expensive gas-powered ones. The added weight of the battery will make it feel more secure down the road. If you have experience riding or driving a conventional car, you may have experienced how bumpy and full of vibrations the car has. In the case of electric cars, you’re bound to experience little or none of these.
3. Eco friendly
Unlike a fossil-fuel-powered car, an electric one does not produce tailpipe air pollutants contributing to global warming and greenhouse gases or GHG. If the power plant in our area produces electricity from renewable resources to provide power for your charging, there’s no pollution from that either. Some people still believe that an electric car hurts the environment when it draws electricity from coal-powered plants, but many companies disprove this assertion.
When you buy a used electric car, you’re already contributing to the go green movement than if you bought a new one. It is a fact that electric cars have a greater carbon footprint when built due to the rare earth elements required for the battery. However, due to its nature, it is still better for the environment in the long run. Less pollution means a cleaner atmosphere and a healthier Earth.
4. Saves more in maintenance
They have no complex transmission or engine. They are cheaper to maintain than conventional cars. They have fewer machine parts and moving parts; this means there is reduced wear and tear of the car parts. You won’t need to worry about a car breakdown. They do not need to have regular maintenance like most conventional vehicles that call for a major service every year. Some of them only require tire rotation, replacing fluids, and air filters. Carcody.com can provide you some insights on maintenance and other car topics.
5. Longer lasting
Because the majority of electric cars have fewer parts, this means that you won’t have to worry about replacing them every time. They also have a warranty of up to a minimum of 10 years or 150,000 miles on the battery. They don’t pale in comparison with their counterparts, and they may prove to be even better. Theoretically, an electric car lasts much longer than a gas-powered vehicle.
1. Decrease battery performance
It is only natural that usage fades battery life and its performance over time. This is the same with electric cars and particularly the earlier models. This means that you might find one on sale that is one of the early models. Batteries of electric cars do age. You may see reduced performance and range. It might be a vexing issue if you don’t check what used electric vehicle you will buy.
If the electrical wiring at your home is old, you might want to consider changing them before buying your first used electric vehicle. A home should be prepared to cater to the changing needs of an electric vehicle. This might be a surprising expense if you don’t know this first hand. High-end installation costs and setting a charging station at your home can be a huge set back for your potential savings. Charging stations are not free, they also charge based on consumption, some per session, by the hour, and some have fixed prices. The charging time can also be a problem, and some require overnight charging to prepare for the next day. It could be a huge inconvenience if you forgot to charge them. You have to carefully factor in the time to stop and recharge when used on longer journeys.
3. Quickly outdated technology
Just like any of your electronic gadgets or high-tech device at your disposal, these electric vehicles can become outdated. It may not be a problem for some, but there will come a time that there won’t be any available service for a car that is outdated. The software can also rapidly change every time a new model of the vehicle is released.
4. Diminished value
The depreciation of the electric car is slightly different than conventional vehicles. Its depreciation curve tapers off after a few years. If you plan on selling a second time used car, you probably won’t get a lot of it.
5. Few or zero incentives
There are very few, or possibly none. Most incentive programs for electric vehicles are focused on buying a new model. Buying a used electric car can save you thousands of dollars from depreciation, but it is likely, you will not be able to avail of any rebates or tax credits for the used electric car.
After taking some of these facts into consideration, have you found your decision on whether you should buy a used electric car or not? Make sure always to check and examine the units if ever you will purchase any used cars, be it electric or conventional ones.