Following the COVID-19 pandemic, the new and used car market has been tumultuous, with unprecedented price hikes and major supply shortages reaching a crescendo in 2022. With some new car models taking months to order, many drivers have turned to used vehicles – but even those have been hard to come by.
At the same time, Americans have faced high gas prices due to rising inflation and the ongoing war in Ukraine, leading many to consider electric vehicles.
In 2023, experts expect supply chain issues to level out, leading to more inventory on dealership lots. Even so, new car prices will likely stay high as we face ongoing inflation in 2023. Used vehicle prices, however, could drop 10% to 20% this year, according to J.P. Morgan Research.
And with a new tax credit going into effect in 2023 for used electric vehicles, this just might be the year to invest in a pre-owned EV.
New to the used electric vehicle market? We’ve got you covered. Below, we’ll break down tips for buying a used EV, five of the best used electric cars under $20K and how much it costs to drive an EV.
Still driving a gas-powered car? You can save money on gas if you join one of these six fuel rewards programs. 7 Tips for Buying a Used Electric Car
How is shopping for used electric cars different from buying used gas cars? Primarily, you’ll need to focus on electric range and battery life. Here are
