The Best Used Electric Cars Under $25,000
Pricing new electric vehicles can be daunting for many shoppers. But more and more electric cars are becoming available on the used car market, and this creates greater opportunities to buy a used electric car at a lower price. There’s also an added incentive to buy a used electric vehicle that costs less than $25,000 thanks to an available federal tax credit of up to $4,000.
To qualify for the federal tax credit, the electric vehicle you’re interested in must meet the following criteria: 1) It must be purchased from a licensed dealership; 2) Sales price must be $25,000 or less. and 3) must be at least two years old from the current year. The credit is calculated at 30% of the sales price and is maximum $4,000. To be clear, this is not a discount on the price, but rather a non-refundable tax credit that can only be used if you owe federal taxes in the year the electric vehicle was purchased.
To help you narrow down your options for purchasing a used electric car, the auto experts at Edmunds have highlighted their top five picks for a used electric car that can be purchased for under $25,000. We based our list on Edmunds reviews when they were new and on their current availability. The average prices we’ve listed are based on Edmunds sales data for July.
Introduced in 2011, the Leaf is the longest-running mass-produced electric vehicle on the market. This small hatchback is an ideal choice for electric car shoppers on a budget, and there are many used models on the market with widely varying prices due to their long production run. The first generation ran from 2011 to 2017 and provided an EPA-estimated driving range of 73 to 107 miles. The second generation Leaf arrived in 2018 with a much greater range. One downside is that the fast charging port on the Leaf’s CHAdeMO model isn’t supported everywhere.
Average price range for 2012-2022 models: $6,630 – $23,816
Chevrolet Bolt EV
When the Bolt EV hit the streets in 2017, it touted an impressive 238 miles of driving range and a budget-friendly price. Moreover, it has a spacious interior, quick acceleration, and abundant technical features. The 2020 model’s range has been boosted to 259 miles. On the downside, the 2017-2021 models, which are widely available, have uncomfortable front seats and interior components that feel cheap. Prospective buyers should also check to see if a recall is being conducted to address the risk of battery fire.
Average price range for 2017-2021 models: $19,200 – $24,120
Launched in 2014, the i3 small hatchback features a distinctive interior, intelligent handling and offers a range-extended gasoline powertrain. However, the EPA’s estimated range was over 150 miles. The i3’s driving range has increased with newer models. Although spacious inside, the i3 only seats four passengers and doesn’t offer much luggage space. Its reverse-hinged rear doors are unique but can be problematic in tight parking spaces.
Average price range for 2014-2018 models: $11,870 – $22,335
Hyundai Kona Electric
The Kona Electric arrived for 2019 as a compelling new contender thanks to its 258-mile driving range, fun-to-drive nature and long list of standard features. Two of its few drawbacks include cramped rear seats and a small cargo area. It’ll be harder to find used Kona Electrics for under $25,000 than the top three cars on our list because they’re newer. Like the Bolt EV, the Kona Electric went through a similar battery pack recall, so make sure it’s completed if the battery you want is affected.
Average selling price for 2019 model: $22,749
Kia Niro EV
The Niro EV became available in 2019 alongside its sibling, the Hyundai Kona Electric. The Niro has a lower EPA-estimated driving range of 239 miles than the Kona Electric, but on the upside it has roomier back seats. Like the Kona Electric, the Niro EV is a solid electric vehicle option. There are models under $25,000 but they are mostly limited to 2019 models. Fortunately, the Niro EV was not affected by the battery recall.
Average selling price for 2019 model: $24,749
If new electric cars are expensive, one of the used electric cars above will likely fit your budget, especially if you can take advantage of the federal tax credit. Try to target a certified pre-owned car that can offer an extended warranty and financing options similar to what is offered with a new car.
This story was provided to The Associated Press by auto website Edmunds.
Michael Cantu is an Edmunds contributor and is on Instagram.
Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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