Used electric cars are losing their value much faster than petrol cars, with an average drop of 42% in the first two years. However, this doesn't necessarily mean they offer better value due to hidden expenses. Experts warn that the initial higher cost of electric cars and potential maintenance costs should be considered before purchasing.
is tumbling much faster than their petrol counterparts, but that doesn't necessarily mean they're better value, with hidden expenses hitting owners after they've forked out the up-front price.
For example, a three-year-old petrol-powered Hyundai is selling for about $6000 less than last year's model, while the electric version of the same model is going for $25,000 less than what it cost last year.The cost of second-hand electric cars is tumbling much faster than their petrol counterparts.
"You're buying a car that was already a little bit more expensive than where the equivalent petrol or diesel car was ... and of course the main expense of that car is the battery."Would-be EV buyers have been advised to seek a battery test through an authorised dealer, but that's not always a simple task.
Used Electric Cars Value Depreciation Hidden Expenses Petrol Cars Maintenance Costs
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