EVs Become New Affordability Play: Buy Used, Three Years Old, Save 50%

Electric car affordability remains out of reach for many consumers because these vehicles still cost more than petrol-powered cars, with average transaction prices for a new EV in August 2025 at about $57,000. Still, some buyers want EVs and are turning to the used car market.

Bloomberg reports that the used EV market saw about 89,000 vehicles change hands in the last three months of 2025, up 13.5% year over year. The figures, based on Cox Automotive data, also show used EV inventory turning over in roughly 50 days, slightly faster than gas-powered cars.

"The buzzword for the year is ‘affordability’ for a really good reason," Liz Najman, director of market insights at Recurrent, told the outlet. Her firm provides range estimates and other EV-centric data to car dealers and consumers.

Najman said, "You can get a two- or three-year-old EV for 50% off, and you’re talking about something with a lot of technology and a warranty on the battery."

There’s also a tsunami of off-lease EVs from 2023 to 2024 hitting the market now. EV depreciation has been an absolute nightmare for owners who bought new. At this point, buyers can often wait 2 to 3 years and pick up an EV at roughly a 50% discount, with full vehicle and battery warranties still intact.

CarEdge analyst Justin Fischer pointed out, "Used EVs are an answer to the affordability crisis in America ... and you can score a really good deal for just under $20,000."