All cars depreciate, but few have sunk in value as much or as quickly as the 2013 Nissan Leaf.
Low fuel prices have suppressed the sales of electric cars and created a glut of new ones on the market. That alone is enough to bring prices down, but there’s another force at work that has devastated used values of the Leaf and other electrics.
If you’ve ever considered a new or used electric car, now is the time to get in the market and find one of the best deals out there.
First, though, we should look at why prices have dropped so much.
Yahoo said it like this:
It took several billions of dollars to make this glut of used electric vehicles a reality. Beyond the $7,500 federal tax credit for electric vehicles, several states and public utilities have offered their own tax credits of between $1,000 to $6,000. On top of this financial frosting, new EV consumers were given a slew of helpful incentives from the installation of free local charging stations, to the use of HOV lanes and a substantial reduction in their annual registration fees.
Needless to say, government entities have made it exceptionally easy and attractive over the last few years to buy or lease an electric car.
Now many of those EVs are coming off lease and creating huge excesses in inventory. That’s causing prices to drop drastically. Check this data from Yahoo’s article:
Eight grand for a regular, fuel-efficient sedan is a good deal, so getting a ’13 Leaf for under $8,000 is one heck of a deal. My in-laws have owned two Leafs over the last few years and have driven about 40,000 fuel-free and trouble-free miles. That makes a used Leaf one of the best cars money can buy, in my humble opinion, for value-conscious shoppers. Of course, there is the little issue of being confined to within 50 miles of home, but if that’s where you spend your time, a used EV is probably your best bet.
Will you shop for a used electric car?