Buying an Electric Vehicle: PART 5
Everything You Need to Know About Buying an Electric Vehicle
PART 5: BUYING USED EVs
Welcome to the final installment of our Five-Part series on Everything You Need to Know About Buying an Electric Vehicle (EV). We’ve rounded up our best advice from the professionals at Kia Victoria to help make the switch from gas-powered vehicle to EV easier than ever.
Part Five is all about buying a used electric vehicle. We hope that we’ve covered enough information in Parts 1-4 that you can confidently make a decision that best suits your lifestyle and driving habits, whether you are kicking the tires on an EV, HEV, or PHEV.
But what if you’re looking for a used EV? Not all used EVs are created - or maintained - equally and there are a few specialized items to consider when purchasing a used electric vehicle.
The longer an EV has been in production, the more used vehicles can be found, so early EV models like the Kia Soul and Nissan LEAF are commonly available used. They’re such a hot commodity these days that they may sell in 2/3 the time of a used traditional car.
Price
While EV vehicles are much more expensive than similar used gasoline-powered cars when new, used EVs can actually be on price parity with their gasoline-powered equivalent. Used EVs generally cost 40 to 60 percent less than new ones, mainly because the technology is changing at such an outstanding rate that older models swiftly become outdated. For example, in just a few short years, EV range has jumped from 100 KMs to over 350 KMs and even 1000 KMs on a single charge. This cost savings is a huge win for used car buyers, and an excellent reason to make the leap into EV ownership, as long as you’re happy with a shorter range.
Battery Life
Worry over battery degradation is another factor in keeping the resale price on the lower end, and is often cited as the biggest worry in buying a used EV. Losing range hasn’t been a widespread problem with used EVs, many of which have hit over 200,000 KMs and are still going strong. However, we’re just now reaching the 10-year milestone for many EV models including the Nissan Leaf (2010), Toyota Prius (2012), and Kia Soul (2014); a threshold that many are keeping a close eye on. Long-term studies have shown that most older batteries are still holding up nicely, especially if they have been driven in moderate to cold climates.
With some simple precautions, you should be able to reach your destination with battery life to spare for years and years to come. Check out the article written by our experts at Kia Victoria, The Seven Biggest Mistakes that EV Owners Make That Will Cost You, for a definitive list of everything you need to know about your battery. If you haven’t already, also check out Part Three of this series, where we talk about everything you need to know about batteries.
From a manufacturer’s perspective, anything over 70% battery capacity is considered acceptable. Whether your prospective used EV is still under warranty or outside of that range, always seek out a battery report before you buy so you know exactly where you stand. Better yet, buy your used EV from a reputable used car dealer who has put the vehicle and battery through a rigorous inspection. This will go a long way to buying you peace of mind.
So Why Buy from Kia Victoria?
At Kia Victoria, our pre-loved EVs will have low KMs, clean titles and have undergone a proper inspection. All of our used vehicles come with the following industry-leading customer care guarantees:
- Used Car Exchange Privilege: We're so sure you will like your new vehicle; if not, we will exchange it for something that better suits your needs within the first 14 days or 500 kilometres - whichever comes first - from the date of purchase for any other in-stock pre-owned vehicle.
- Used Car Guarantee: We guarantee you won’t need to replace tires, breaks, bulbs, and wiper blades within the first 6 months or 5,000 kms - whichever comes first - from the date of purchase. It’s just one more way that we put our customers first.
- Limited 90-Day Warranty: Our Used Vehicle Limited 90-day Warranty comes with a minimum of 3 months or 5,000 kilometres (whichever comes first) of limited coverage on your purchase.
Thank you for tuning and we hope you have enjoyed our five-part series, Everything You Need to Know About Buying an Electric Vehicle. If you have any further questions, concerns, just need a bit more information, please don’t hesitate to contact us. We’re available 6-day a week, year-round.