Used Electric Cars For Sale Under $10,000 (2024)

FAQs

What is the best electric car for your money? ›

What is the best electric car? The best electric car is the 2023 Chevrolet Bolt, with an overall score of 9.2 out of 10. The best luxury electric car is the 2024 Tesla Model 3, with an overall score of 9.2 out of 10. What is the best electric SUV?

Overall in California, used EVs are 40% cheaper with the maximum incentive under California's Clean Cars 4 All program compared to the average price of a used gas car.

Does the Resale Value of EVs Decline Faster Than Gas Cars? Yes, electric vehicles lose their resale value faster than their gas-powered counterparts. Various factors drive the precipitous drop in value, from value adjustment for tax credits to rapid obsolescence. The only exceptions to this rule are Tesla cars.

When it comes strictly down to numbers of miles and years, an EV will likely outlast an internal combustion engine (ICE) vehicle. With regular use, the average lifespan of a gas vehicle is 150,000 miles or eight years, and EVs can last up to 200,000 miles, or about 12 years.

A 2020 Consumer Reports study similarly showed that EV drivers tend to spend about 60 percent less each year on fuel costs compared to drivers of gas-powered cars.

Used-EV Prices Have Dropped Significantly

"If you bought a new EV in the past few years or even months, you're probably not too happy with resale values now. But if you're in the market for a used one, there are some really good deals available."

Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000.

Slowik's group estimates that cars and sport-utility vehicles capable of traveling 400 miles on a full battery will cost less than cars with internal combustion engines in 2030, even before taking into account government subsidies.

Ford is turning its attention to a new platform for affordable, compact EVs, according to a Bloomberg news report today. The platform will underpin a compact crossover in late 2026 with a starting price around $25,000, with a small truck and dedicated ride-hailing vehicle expected to follow.

Most dealerships will take care of the tax credit during the purchasing process. If not, you can submit IRS Form 8936 when filing your taxes. Receive your tax credit. The same day from the car dealership, or when you get your tax return.

Are electric cars reliable? ›

EV owners suffer from 79 percent more reliability issues than gasoline or diesel vehicles. Plug-in hybrids are even worse, with 146 percent more reliability issues, although straight hybrids are more reliable than conventional vehicles.

How owning an EV changes your power consumption. Charging your vehicle at home could increase your electric bill significantly: Charging your vehicle at home during peak rate times with a typical Level 2 EV charger is "the equivalent of adding a whole new home" to your energy bill, Rawson said.

Prices are falling, in part, because EV sales have hit a plateau in the past year or so, Jenni Newman, the editor-in-chief of Cars.com, told CBS News. Still, the sticker prices on EVs tend to be higher than those of gas-powered cars, although that gap is narrowing as dealers cut prices on electric-powered vehicles.

1. Tesla Model Y. With one of the best charging networks, high performance, and a minimal but luxurious interior, the Tesla Model Y is hugely popular.

Less maintenance and lower maintenance costs

Their simpler design gives electric motors one significant advantage over combustion engines: lower maintenance costs. According to AAA, an EV costs $949 less to maintain annually than a comparable gas-powered vehicle.