Factors To Consider Before Buying a Used Electric Car

Post date: Nov 06, 2017 12:5:46 PM

As more brand new electric cars are entering the market, there is also an increase in the number of electric cars in the secondhand market. Consumers who want to get their hands on such a vehicle without having to shell out a huge amount of money should consider purchasing a used one. Such decision, however, automatically comes with several considerations.

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First, new electric vehicle owners can avail of a variety of tax incentives. For example, there is a federal income tax credit of up to $7,500 for the latest electric vehicle models. On top of that, some states also offer additional tax credits. Acquiring a secondhand electric car means forfeiting these tax incentives.

For many customers, the substantially decreased purchase cost makes up for the loss of tax savings. But if the state has large tax incentives, a new model can have a price that rivals that of a preowned one.

Another issue to be concerned about is the degraded battery life of used electric vehicles. Although it is a legitimate cause of uneasiness, most battery packs can last more than ten years. And if the battery fails before then, most warranties cover repair or replacement.

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Since he was 15 years old, Jeff Lupient has worked in automotive sales. He started in his family’s chain of dealerships and has since worked every position and every job in the industry, gaining sufficient knowledge and skills in sales, customer retention, and process improvement. Visit this website for more details about him and his industry.