Are the Considerations for Buying a Used EV Different Than Buying a Used ICE Vehicle?

With electric vehicles (EVs) growing in popularity, more buyers are venturing into the used market as a way to enter the world of electric mobility. However, buying a used EV is not quite the same as buying a traditional internal combustion engine (ICE) vehicle. While many of the same basic principles—like vehicle age, mileage, and condition—still apply, there are some key differences when it comes to hardware, software, and battery life that potential buyers should consider.

In this article, we’ll take a deeper dive into these considerations and explore why buying a used EV requires more attention to specific components than purchasing a used gasoline-powered car.

1. Battery Life: The Heart of an EV

One of the most critical factors in buying a used EV is the condition of the battery. Unlike ICE vehicles, where the engine plays the central role, the battery is what drives the performance and longevity of an electric vehicle. Over time, the capacity of the battery decreases, which can lead to a reduced driving range.

Battery Degradation: All batteries degrade over time, and EV batteries are no exception. However, how much an EV's battery degrades depends on factors like age, the number of charging cycles, and how the car was driven. Some of the most important things to check when buying a used EV include:

• Battery Health and Warranty: Many manufacturers provide an 8-year warranty on EV batteries, but it’s important to check whether the car is still under warranty. Some EVs also allow you to check the remaining battery capacity, so make sure to see how much of the original range is still intact.

• Replacement Costs: If the battery is nearing the end of its life, replacing it can be expensive. Make sure you factor the cost of a new battery into your purchasing decision.

2. Software Updates and Over-the-Air (OTA) Capabilities

EVs are more than just vehicles—they are essentially rolling computers, with software controlling everything from the engine to the infotainment system. This means that software plays an even larger role in used EVs compared to used ICE vehicles. When purchasing a used EV, it's crucial to consider:

• Over-the-Air Updates: Many modern EVs, especially those made by companies like Tesla, Rivian, and Ford, are equipped with the ability to receive over-the-air software updates. These updates improve everything from battery management to autonomous driving features. When buying a used EV, ensure that the vehicle has been regularly updated. A lack of updates could suggest the car is not being properly maintained or that it’s out of date.

• Infotainment and Connectivity: EVs typically feature more sophisticated infotainment systems and integrated apps. Ensure that the software is up to date, as outdated systems may not be compatible with new features or smartphones.

3. Charging Infrastructure Compatibility

Unlike ICE vehicles, which refuel at gas stations, EVs require charging, which introduces unique considerations:

• Charging Speed: Not all EVs are equipped with the same charging capabilities. Some models support faster charging, while others might only work with slower Level 1 chargers. Make sure to check whether the used EV supports fast charging (DC fast chargers) or if it’s limited to slower, home-based charging solutions.

• Home Charging Equipment: When buying a used EV, check if it comes with the necessary charging cables, or if you'll need to purchase them separately. If you plan to charge at home, verify that your home’s electrical system is compatible with the car's charging needs.

• Availability of Charging Stations: While charging infrastructure is expanding, it’s still not as ubiquitous as gas stations. Consider how easily you can access charging stations near you, especially if you plan to use your EV for long trips.

4. Wear and Tear: EV Components and ICE Vehicles Compared

While EVs have fewer moving parts than ICE vehicles, which means less wear on traditional engine components, they still require attention when buying used. Key components to inspect include:

• Tires: EVs tend to wear tires more quickly than ICE vehicles because of the instant torque delivered by electric motors. Check tire condition and consider replacing them if necessary.

• Brakes: EVs use regenerative braking, which helps to recharge the battery and reduces wear on brake pads. That said, it’s still essential to inspect the brakes for wear and tear.

• Suspension and Steering: These components should be in good condition to ensure the vehicle handles well. Listen for any strange noises or handling issues during a test drive.

5. Resale Value: Depreciation Rates

Historically, EVs have depreciated faster than ICE vehicles, mainly due to concerns over battery life, limited range, and evolving technology. However, with improvements in battery technology and more widespread adoption, used EVs are holding their value better than they did just a few years ago. That being said, consider the following:

• Battery Warranty: If the vehicle still has a warranty on its battery, this could help retain some resale value.

• Technology Updates: EVs with outdated technology might face a steeper depreciation than newer models. This is especially true for manufacturers with frequent software updates or upgrades, such as Tesla.

6. Government Incentives for Used EVs

While government incentives like tax credits and rebates are typically reserved for new EV purchases, many states offer incentives for buying used EVs as well. Some regions offer discounts, rebates, or tax credits for used EVs to help promote the transition to cleaner vehicles. Be sure to research if any local or state programs apply to used EVs before you buy.

Conclusion: Buying a Used EV vs. ICE Vehicle

While buying a used electric vehicle shares many similarities with purchasing a used ICE vehicle, there are additional factors to consider. The battery health, software compatibility, and charging infrastructure are critical components that can impact the long-term value and usability of the vehicle. By paying close attention to these factors and thoroughly inspecting the vehicle, you can make a more informed decision when purchasing a used EV.

As the EV market continues to mature, the availability of quality used electric vehicles will increase, and the technology surrounding them will only improve. For now, it’s essential to weigh the long-term costs and benefits of EV ownership and ensure you’re getting the best value for your investment.

For more updates on the latest trends in EV technology, charging solutions, and used EV buying tips, stay informed with our latest articles and subscribe to our newsletter at ChargedUpPro.com/subscribe.

About Us

Charged UP! is one of the most widely read publications in the EV charging space. Our approach is to take topics that are of interest to everyone and mention companies that provide best-in-class approaches. To discuss including your products or services, contact us at info@chargeduppro.com.

At Charged Up!, we are committed to keeping businesses and individuals informed about the evolving EV landscape. For more updates and insights, subscribe to our newsletter at chargeduppro.com/subscribe.