10 Examples of How Far Used EV Prices Have Fallen

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Last updated Dec 28, 2023

Why did most buyers stay away from used electric vehicles in years past? Most were fixated on the federal EV tax credit, which only applied to new EVs. Others were unsure about EV repair costs outside of warranty. But the calculus changes when used EV prices plummet like they have recently. Better yet, more and more models are qualifying for the federal used EV tax credit, which launched in January 2023. Here’s a look at the best used electric vehicle deals in December of 2023. 

We’ve ranked the 10 best-selling EVs in America from most negotiable, to least negotiable based on market day supply.

Chevrolet Bolt

used Chevy Bolt prices

New Average Transaction Price: $31,482

Used Average Transaction Price: $23,601

Used Market Day Supply: 100 days

Negotiability Score: Very High

The Chevrolet Bolt EV stands out as one of the most affordable electric vehicles in the American market. It’s an ideal entry-level EV, perfect for city driving and shorter road trips. Additionally, most used Bolt EVs fall within the price caps for the federal used EV tax credit, making them even more appealing. 

However, the Bolt’s main drawback lies in its charging capabilities. With a peak charging rate of only 55 kW, it can take over an hour to gain 200 miles of range, which may be a concern for some buyers. In December, there are 3,487 used Chevrolet Bolts available for sale across America, with prices starting at just $10,995. Of these, 415 boast a clean record.

See pre-owned Chevy Bolt listings with the power of local market data.

Volkswagen ID.4

used Volkswagen ID.4 EV prices

New Average Transaction Price: $48,230

Used Average Transaction Price: $32,898 

Used Market Day Supply: 85 days

Negotiability Score: Very High

The Volkswagen ID.4 boasts the advantage of being American-made at VW’s Chattanooga, Tennessee plant, making it eligible for the federal EV tax credit when new. Furthermore, used ID.4 models are available for around $25,000, potentially qualifying for the used EV tax credit as well. With charging speeds and range that are both average, it strikes a balance in the EV market. 

However, the ID.4 is not designed for sporty performance; those seeking a more dynamic driving experience might consider other options on this list, excluding the Chevy Bolt. As of December, there are 655 used Volkswagen ID.4s for sale across America, with prices starting as low as $23,900, and 111 of these vehicles have a clean record

See pre-owned Volkswagen ID.4 listings with the power of local market data.

Ford Mustang Mach-E

used Ford Mustang Mach-E prices

New Average Transaction Price: $56,546

Used Average Transaction Price: $41,100

Used Market Day Supply: 98 days

Negotiability Score: High

The Mustang Mach-E is a family-sized EV with the iconic Mustang’s spirit, offering a sporty edge to family hauling. However, it’s important to consider that its charging speeds are average, lagging behind competitors like Tesla, Hyundai, and Kia. For those interested, there are 1,327 used Mustang Mach-Es available for sale in America as of December, with prices starting at an enticing $23,999. Among these, 183 have a clean record.

See pre-owned Ford Mustang Mach-E listings with the power of local market data.

Tesla Model S

used Tesla Model S deals

New Base MSRP: $74,990

Used Average Transaction Price: $39,674

Used Market Day Supply: 87 days

Negotiability Score: High

The Model S boasts luxury features and reliable fast charging, making it a premium choice in the electric vehicle segment. However, it’s important to note that it doesn’t offer the same cargo capacity as its siblings, the Model Y and Model X, which could be a deciding factor for some.

As of December, the market has 2,498 used Model S vehicles available across America, with prices starting remarkably low at $12,000 for a 2013 model. Among the listings, 363 have a clean record.

See pre-owned Tesla Model S listings with the power of local market data.

Kia EV6

Kia EV6 used EV deals

New Average Transaction Price: $52,520

Used Average Transaction Price: $40,834

Used Market Day Supply: 94 days

Negotiability Score: High

The Kia EV6, similar to the IONIQ 5, is renowned for its rapid charging capabilities and efficiency. However, buyers should note that it offers less interior cargo space typical of hatchbacks, rather than the larger capacity found in SUVs. 

In the current market, there are 397 used Kia EV6s available for sale across America as of December, with the starting price at $24,922. Among these, 75 have a clean record.

See pre-owned Kia EV6 listings with the power of local market data.

Tesla Model Y

used Tesla prices

New Base MSRP: $47,740

Used Average Transaction Price: $42,633

Used Market Day Supply: 57 days

Negotiability Score: Average

For car buyers considering a used Tesla Model Y, there are some key points to keep in mind. One of the major advantages is access to Tesla’s reliable and extensive Supercharger network, complemented by the convenience of frequent over-the-air updates that continually improve the vehicle. 

However, potential buyers should be aware of occasional complaints regarding build quality issues. As of December, there are 2,226 used Model Ys available for sale across America, with prices starting as low as $27,500. Out of these, 339 have a clean record.

See pre-owned Tesla Model Y listings with the power of local market data.

Tesla Model 3

used Tesla model 3 prices

New Base MSRP: $40,240

Used Average Transaction Price: $33,368

Used Market Day Supply: 65 days 

Negotiability Score: Average

The Model 3 is known for its time-tested reliability, exceptional range and efficiency, and access to Tesla’s extensive Supercharger network. However, it’s worth noting that as a sedan, the Model 3 doesn’t align with the current trend favoring SUVs and trucks. In December, there are 6,591 used Model 3s on the market in America, with prices starting at an attractive $16,990. Of these, 533 boast a clean record.

See pre-owned Tesla Model 3 listings with the power of local market data.

Tesla Model X

used Tesla Model X prices

New Base MSRP: $79,990

Used Average Transaction Price: $54,284

Used Market Day Supply: 63 days

Negotiability Score: Average

The Tesla Model X combines the spaciousness of an SUV with the touch of luxury, notably featuring its distinctive gull-wing doors. While these doors add a unique flair, they can sometimes be more of an inconvenience in practical use. For those eyeing a 2020 or newer Model X, be prepared to invest a minimum of $50,000. 

In the used car market this December, there are 1,391 Tesla Model X vehicles available across America, with the starting price as low as $23,100. Among these, 204 have a clean record, offering a variety of choices for those seeking a blend of luxury, space, and electric efficiency in their vehicle.

See pre-owned Tesla Model X listings with the power of local market data.

Hyundai IONIQ 5

used IONIQ 5 prices

New Average Transaction Price: $50,581

Used Average Transaction Price: $38,965

Used Market Day Supply: 58 days

Negotiability Score: Average

The Hyundai IONIQ 5 stands out in the EV market with its e-GMP powertrain, making it one of the fastest-charging affordable electric vehicles available today. Additionally, several listings now fall within the negotiation range of the $25,000 price cap for the federal used EV tax credit, making it an attractive option for budget-conscious buyers. 

However, its design is polarizing, often eliciting strong opinions; you either love its unique look or don’t. As of December, there are 389 used Hyundai IONIQ 5s for sale in America, with prices starting at a competitive $22,758. Of these, only 73 have a clean record.

See pre-owned Hyundai IONIQ 5 listings with the power of local market data.

Ford F-150 Lightning

used Ford F-150 Lightning prices

New Average Transaction Price: $71,118

Used Average Transaction Price: $68,430

Used Market Day Supply: 110 days

Negotiability Score: Very High

The Ford F-150 Lightning stands out as a full-sized electric truck capable of handling typical truck duties, a significant pro for those needing utility and eco-friendliness. However, like all electric trucks currently on the market, it experiences a significant reduction in range while towing, losing about half of its rated capacity. 

Additionally, the F-150 Lightning’s charging speed is not the fastest; without access to home or workplace charging, adding 200 miles of range at a DC fast charger could take at least 45 minutes. 

Ford dealers are resisting discounts, even after months of building inventory. That’s the sole reason why the F-150 Lightning isn’t ranked higher on this list of best used EV deals. In the used market, there are 516 F-150 Lightnings available for sale across America as of December, with prices starting at $39,995. Of these, only 56 have a clean record, offering options for those looking for a capable electric truck with practical utility.

See pre-owned F-150 Lightning listings with the power of local market data.

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