Buying a Used EV

Used EVs offer an ultra-low-cost alternative to gas cars, but charging isn’t ubiquitous yet and can add cost. A used EV may be the way to go for drivers looking to cut out those extra expenses and save on fuel costs in the long run, especially with new federal tax credits and state incentives available.

But while the cost of buying a used EV is lower, it’s still more expensive than purchasing a similar model of conventional car. To help lower the barrier to entry, a handful of companies have taken steps to increase the pool of secondhand models on the market. One example is Hertz, which began selling used electric vehicles from its fleet this year in a bid to encourage consumers to switch to the technology.

Unlocking Savings: How to Find Affordable Used EVs

It’s not hard to find a good deal on a used EV these days. Hertz’s stock, for instance, includes the Kia Niro EV, a practical tall hatchback that provides ample cabin space and a satisfying driving experience on a twisty road. It doesn’t boast the latest and greatest EV tech, however, and the Niro’s battery can degrade over time, potentially shrinking its range.

As a result, it’s worth checking out a used EV’s vehicle history report and considering a thorough inspection before you commit to a purchase. You should also look into standard auto loans and those tailored for EV buyers like the ones Tenet offers. And, remember, a used EV that’s 2021 or later can qualify for both the federal IRA credit and NYS Drive Clean Rebate, netting buyers up to $9,500 in savings.

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