Used electric cars - Prices are dropping? Not for much longer!

In 2024, it was a great time for bargain hunters: The prices for used electric cars dropped by almost 20 percent. While an average used electric vehicle cost a hefty 36,500 euros in December 2023, the price is now just under 30,000 euros. Sounds better, right? But be cautious: The price drop is slowing down because newer, more expensive models are flooding the market. For example, in fall 2024, the average price already climbed back to 30,100 euros. So, if you're looking for a used electric car, don’t delay forever! Pros and Cons: What are the arguments for used electric cars? 

The Advantages

• Price Advantage: Clearly cheaper than a new car.
• Insurance: Often less expensive.
• Immediate Availability: No waiting like for new cars.

The Disadvantages

• Battery Worries: How old is the power storage?
• Range: New ones go further – in both senses.
• Warranty?: At best, only a small part of it remains.

Electric or Gasoline? The Price Gap is Shrinking!

It used to be clear: Used electric cars were more expensive than gasoline cars. But things are changing! The Renault Zoe has now surpassed its gasoline counterpart, the Clio, in terms of price. While used Zoes are available from around 3,500 euros, the Clio starts at 3,900 euros. And the Zoe offers more: electric drive and less maintenance. A small electric bargain!

Where is the Price Trend Going?

Interesting: In the third quarter of 2024, the demand for used electric cars exceeded supply for the first time. Compared to the previous year, interest rose by an impressive 35 percent. This shows: The market is gaining momentum! Meanwhile, the price difference between electric cars and gasoline cars continues to shrink. A BMW i3 cost an average of 30,500 euros in 2023 – just a year later, it was down to only 22,600 euros. This represents a significant price drop of 26 percent! The Smart fortwo ED also became significantly cheaper: from 18,600 euros to just under 14,000 euros. So, if you want a small, affordable electric car, now is the time to buy.

Why are many buyers still hesitant? 

Despite falling prices, doubts remain: many fear a quick battery death. According to DAT market research, 80 percent of car buyers consider the battery an "uncertainty factor." However, studies reassure us: batteries last significantly longer than expected. A study from Stanford University showed that batteries last about a third longer than predicted. A Tesla from 2017? It still has 95 percent battery capacity in 2021. Nevertheless, it's essential: before purchasing a used electric car, definitely have a battery test done. 

Less Maintenance, Fewer Worries

The good thing about electric cars: they have hardly any wear-and-tear parts. No timing belt, no spark plugs, no gearbox – and thus fewer potential sources of error. So if you buy a used electric car, you have less risk of suddenly facing expensive repairs. 

Conclusion: Are Used Electric Cars Worth It?

Used electric cars are becoming more affordable and are now a serious competitor to gas-powered cars. The market is growing, the technology is convincing – and with a little patience, you can find a real bargain. Check the battery, compare prices, and off you go!