by Herb Weisbaum, The ConsumerMan

Last updated July 16, 2026

Buying an electric vehicle (EV) is one of the best ways to shield yourself from high gasoline prices. But new EVs still cost significantly more than comparable gas-powered or hybrid vehicles.

In May, the average transaction price for all new vehicles was $49,015, while the average new EV sold for $54,532, according to Cox Automotive.

Buying a used EV may be an affordable alternative. Because new electrics tend to lose value faster than conventional cars, used cars are often bargains.

The average used EV listed for sale in May cost $37,083 according to Cox Automotive—almost $17,500 less than the average price of a new electric vehicle. That’s still roughly $2,200 more than the average used gas-powered vehicle, but since there’s no gas to buy, the payback period for the higher purchase price can be a year or less, depending on how much you drive.

According to U.S. Department of Energy, switching from a gas-powered vehicle to an EV could save the owner up to $2,200 per year in fuel costs. (This figure was calculated in 2024, when the average price for a gallon of regular gasoline was $3.30, according to the U.S. Energy Information Administration.)

DOE has a Vehicle Cost Calculator on its website to help you estimate potential savings for your situation.

An EV should also cost less to own because it requires less scheduled maintenance than a gas-powered vehicle. No tune-ups. No oil changes. No exhaust repairs. And because they use regenerative braking, the brake systems last longer than those on conventional vehicles.

What About Supply?

The supply of used EVs for sale is increasing each month as leased models are returned to dealerships, which could help stabilize or drive down prices. It also means a wider selection of low-mileage models to choose from.

“If you want to get in [on electric technology], but you don’t want to tie up too much money, looking at a nearly new, particularly off-lease EV, may be the way to go right now,” said Paul Eisenstein, publisher of Headlight.News.

Consider Reliability

Although compared to gas-powered rides EVs have fewer moving parts and require less maintenance, electric vehicles rely more heavily on software, digital displays, and electronic controls. The added complexity of this advanced technology means many models suffer from reliability problems.

“EV reliability isn’t on par with gas cars or hybrids,” Consumer Reports cautions, especially for models 10 years or older. Based on CR’s annual reliability survey, EVs have about 80 percent more problems on average than gas-only cars and are less reliable than hybrids. CR members report problems with electric drive motors, charging, and batteries.

“Many of the problems with EVs and plug-in hybrids are because they are newer designs compared to gas technology, so some kinks still continue to be worked out,” said Jake Fisher, senior director of auto testing at Consumer Reports. “By comparison, hybrids have been around for nearly three decades, and the technology is tried and true.”

What About the Battery?

Carmakers are required to provide a battery warranty of eight years or 100,000 miles, which Kelly Blue Book notes is longer than most manufacturers’ powertrain warranties. And these warranties are transferable to the next owner.

Some automakers offer even longer battery coverage: Genesis, Hyundai, and Kia back their EV batteries with 10-year/100,000-mile warranties. Tesla provides eight-year battery coverage on all its models, but the battery packs on the Model S and Model X are covered for up to 150,000 miles, while those on the Model 3 and Model Y are covered for up to 120,000 miles.

“So, if you’re purchasing a used EV and you’re worried about the battery, which is kind of the most expensive thing to go wrong, you’re covered by a warranty for a long time,” said Keith Barry, Consumer Reports senior auto reporter. “[That] might help you sleep at night if you purchase one of these cars.”

Except for two recent recalls (in which defective battery packs in Chevrolet Bolts and Hyundai Kona EVs were replaced by the manufacturer for free), an analysis of more than 30,000 car owners’ data by Recurrent, a company that helps value used EVs, finds that “battery replacements are exceedingly rare.”

Looking at all years and models of electrics, excluding those two recalls, data from Recurrent show that less than four percent of all battery packs have been replaced, including cars 10 years old or older. For EVs manufactured from 2022 onward, the replacement rate is only three-tenths of a percent.

Checkbook recommends having any used vehicle inspected by an independent mechanic before purchasing it. With an EV, ask the mechanic to check the battery to determine how much it’s degraded and its ability to hold a full charge.

It’s also a good idea to make sure the EV you’re considering has the latest software updates.

Where to Charge It? 

It’s cheaper to charge at home than at a public charger, even in states with high electricity rates. A typical home EV charging system costs between $800 and $2,500 for both the equipment and standard installation. 

Check whether your state, local government, or electric company offers rebates for home chargers. Some utilities offer special rates for time-of-day usage (you can save a lot by charging overnight) or discount rates for connecting to a home EV charger. 

If you can’t have a charger at home and need to rely on public fast-charging stations, you may be better off buying a hybrid.

Another Option

General Motors, which has made a corporate decision to offer more affordable electric vehicles, has two new models priced below the average price of a used EV. The Chevy Bolt EV starts at $28,995, and the roomy Chevrolet Equinox EV starts at $36,795. 

“GM often has incentives on these two vehicles, especially if you’re a Costco member, so keep your eyes peeled,” said automotive journalist Tom Voelk, publisher of Driven Car Reviews and a contributor to The New York Times.

Voelk also recommends the newest generation of Nissan LEAF, which starts at $31,535. The new 2006 LEAF has a better battery system than previous models, which boosts the range to about 300 miles per charge. You may find some great deals on older LEAF models. They’re great for local driving, but with a shorter range they’ll require more charging stops on long trips. 

The Bottom Line

There are many advantages to buying a used EV, including a lower purchase price and operating costs, but you need to consider whether it makes sense for how and where you drive. 

“It’s not just efficiency; EVs can be more rewarding to drive,” Voelk told Checkbook. “Heavy floor-mounted batteries give them a low center of gravity, giving them a sports car-like dynamic when slinging around corners. Plus, electric motors run smoother and quieter than internal combustion engines, with more satisfying power off the line.”

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Contributing editor Herb Weisbaum (“The ConsumerMan”) is an Emmy award-winning broadcaster and one of America's top consumer experts. He has been protecting consumers for more than 40 years, having covered the consumer beat for CBS News, The Today Show, and NBCNews.com. You can also find him on Facebook, Blue Sky, X, Instagram, and at ConsumerMan.com.