After reaching record levels in 2022, used car prices have fallen across most vehicle types. Electric vehicles (EVs) and hybrids are among the best used car deals available.
According to the Carfax Used Car Price Index, used EV and hybrid prices declined 22.1% year-over-year in August. Used EVs are now more affordable than ever, and many electric cars and SUVs are selling for below $30,000. If you have considered an EV, the choice makes more sense now than ever before.
There is a lot to keep in mind before buying a used EV. Let’s look at how to do some homework to find the best EV for your needs at the most affordable price.
Consider the Used EV Tax Credits
The Inflation Reduction Act introduced a new federal used electric vehicle tax credit, but not all EVs qualify. The used EV tax credit is worth 30% of the used car sales price, up to $4,000, on cars purchased after December 31,…