Drivers could save 67 percent when buying a used electric car

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For drivers looking to purchase an electric car in 2023, production issues have left them facing an average wait of up to eight months to get their hands on a new car. In a bid to avoid these wait times, research has revealed which EV models offer the biggest savings when purchasing used, by comparing the price of a brand-new model to its average resale price.

In research shared exclusively with Express.co.uk, Comparethemarket found that the Nissan Leaf offers the most savings on the purchase price – by a staggering 67 percent.

When buying a new Leaf EV, drivers can expect a price of around £32,720, compared to just £10,921 for a used model.

This is followed by the Renault Zoe, which retails at an average of 66 percent in comparison to a brand-new version.

The Kia Soul also offers buyers around £17,000 in savings if they buy a used model (47 percent less than its price brand new). 

Other EVs in the top 10 ranking for offering the most savings when buying a used model, as opposed to brand new, include the higher-end Jaguar I-Pace, which is 41 percent cheaper to buy used, the BMW i3 (40 percent cheaper), and the DS3 CROSSBACK (32 percent cheaper). 

The Tesla Model 3 also made the list, costing £16,444 less on average when purchasing second-hand. 

When purchasing a second-hand vehicle, drivers should bear in mind that if the vehicle is over three years old, they will be responsible for having the car MOT’d once per year, whereas the first MOT on a brand-new car isn’t due until it’s three years old. 

This could change in the coming years after the Department for Transport launched a public consultation earlier this month to potentially change the frequency of tests for recently registered vehicles.

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It is also worth considering that although the upfront costs are cheaper, there will be additional costs associated with older vehicles.

This includes the increased servicing needs and potential repairs needed, in comparison to a brand-new model.

Julie Daniels, car insurance expert at Comparethemarket, comments: “EVs are a great way to save money on fuel, as well as to reduce your carbon footprint.

“In fact, we previously found that 54 percent of motorists are motivated to buy an electric or hybrid vehicle to reduce emissions.

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“The current delays new vehicles are facing shouldn’t discourage drivers from making the switch to an electric vehicle.

“A used car will usually cost less than a new one in the long run and buying second-hand is also more environmentally friendly.

“Plus, although EVs have historically been more expensive to insure than petrol or diesel cars, EV insurance is gradually becoming more affordable – and therefore more accessible.”

However, not all used EV models are cheaper than their brand-new counterparts. This can be seen with the Citroen E-C4 which sots 13 percent more than a new model.

One-fifth of the EV models that Comparethemarket investigated turned out to be more expensive to buy used than new.

This is likely due to an unprecedented increase in demand for some makes and models. 

The Citroen E-C4 offers the least savings of all, with a second-hand model costing 13 percent more on average than a brand-new model. 

The Mercedes-Benz EQS is also more expensive to buy used, with its average second-hand price of £116,890 being 11 percent more expensive than its original market price of £105,610.

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