Buying a Used Electric Car: Is It a Good Idea?

The popularity of electric cars has risen quickly in recent years. They reached a record number of sales last year with 59,945 being registered. In December, electric vehicles amounted to nearly 4% of the UK’s vehicle market share. In just two years this has increased from 1.7%. The rise in purchases could be down to the future 2030 ban of new petrol and diesel cars, so electric cars may be being bought now in preparation.

There may be uncertainties within people’s heads regarding electric cars. People are questioning if buying a used electric car is a good idea, as they haven’t been around long enough to be sure on how well they will age. Here, with used Citroen C5 Aircross dealers, Motorparks, we look into the used car market.

How big is the used car market?

Last year, despite the used car market being down -2.1% on the previous year, there was one riser in the industry: the sale of hybrid, plug-in hybrid, and battery electric cars. This market share recorded a rise of 27%. SMMT Chief Executive, Mike Hawes, said of the development:

“It’s encouraging to see more used car buyers snapping up low-emission vehicles as supply grows – but those sales remain low as an overall proportion of the market. We still need the right policies and incentives from government to give new car buyers confidence to choose the cleanest petrol, diesel and electric models that best suit their needs, so that even more drivers can benefit from this exciting technology as it filters down to the used market in the coming years.”

New developments in technology which are improving car safety and efficiency means there is still a big market. But with approximately 20% of a new car’s value being immediately lost when you drive it away, it’s led to almost three used cars being sold to every new vehicle in the UK.

Why might you buy a used car?

The decreased price is the main attraction of buying a used car over a new one. If money is tight, then a used car ticks all the boxes.

What else is there to gain by buying used over buying new? Nowadays, factory warranties are even longer than before, meaning that the appeal of buying a used car can be enhanced by their longevity. Also, all the gadgets the you often pay extra for when buying new may well already be in a used vehicle and this too will come at a fraction of the cost compared to buying it new.

If waiting around isn’t your thing, then buying used could be the way to go; the car can be driven off right from purchase, and this certainly isn’t the case when it comes to new cars. A new car needs to be specifically ordered and, depending on your choice of extras, this could take several months. With a used car there is no waiting period. Simply pay your money and drive on by.

Insurance for a new car is also pricier. This is because there is obviously a lot more equity at risk if you’re involved in a crash. Therefore, you may find that you don’t have to fork out as much on your policy if you choose a used car.

Why choose a used electric car?

According to a survey, 75% of drivers in the UK would consider purchasing an electric car that is used. This means that we can be more trusting of a battery’s longevity than we previously were due to the advancements in the battery and efficiency. Many of the reasons for going down this route are the same as buying new, including the positive impact these vehicles have on the environment compared to petrol and diesel cars. The main stumbling block for the quarter that baulked at purchasing a second-hand EV was due to the price.

Thanks to new technology and advancements, the battery pack is claimed to be able to last between 10-20 years, as well as giving the car the potential to have over 150,000 miles without a need for a replacement. Experts say that manufacturers have now proven themselves and this sector, giving prospective buyers more confidence in buying a used vehicle.

Electric cars represent a vehicle of good value and durability — both new or used — the zero emissions are often viewed the most attractive aspect of the cars and vehicles. In addition, an increase in EV charging services from suppliers such as Northern Powergrid and the increased availability of charging points has meant that the market looks set to take off in the UK. With a rise in new electric vehicle sales, we will undoubtedly also see an increase in used sales in the run-up to the ban on new petrol and diesel models.With a rise in new electric vehicle sales, we will undoubtedly also see an increase in used sales in the run-up to the ban on new petrol and diesel models.

  Modified On Nov-16-2019 02:14:15 AM

Leave Comment