Gas prices in my area are inching up again after getting into the dollar-and-a-half-per-gallon range. Today, prices at my local pump sit at around $2.15.
That’s still a far cry from the $4.75 I was paying not long ago, but not nearly high enough to make me consider giving up gas and going electric.
The consensus is similar for consumers across the nation, as electric cars haven’t made much of a dent in sales so far this year. The price premium on new electric cars just doesn’t make the investment worth it.
What about the used market, though?
There’s a wide range of EVs available used now and some of them just might offer the savings that budget shoppers desire.
The Chevy Volt and Nissan Leaf are the most popular electric cars in the U.S. Technically, the Volt isn’t an all-electric car since it also has a gas engine, but we’ll ignore that for now.
Sales of the two cars have been brisk, as far as EVs go. Autoblog says,
Overall, for all officially reported sales of the Leaf and the Volt, things are almost exactly tied. Since the vehicles went on sale in the end of 2010 until the end of February 2015, the Volt has sold 74,592 units and the Leaf has sold … drumroll please … 74,590 units.
The Leaf outsold the Volt every month of 2014 and will probably take over the title of best-selling EV next month. With almost 150,000 combined sales, that also means there’s a decent used market for the cars. On CarGurus, prices of used Leafs range from about $12,000 to about $20,000, depending on year and mileage. Volts range between $15,000 and $28,000.
If you’re looking to spend a little more and get something a little more exotic, there’s apparently an ample market for used Fisker Karmas.
As of this writing, there are 59 Karmas for sale on CarGurus, with prices ranging from $48,000 – $98,000. Compare that with the Tesla Roadster, which had a similar production run, and you’ll find six used models listed for sale with prices between $80,000 and $100,000.
With the Karma out of production and the company in the hands of a new owner, its future is in question and there’s not a lot of demand for the exotic electric sports car. Just remember, early cars suffered from faulty electronics and lithium-ion battery cells, as well as the potential for fires, issues which potential buyers should be aware.