This article is part of a series exploring the ABCs of EVs: Affordable, Better, Convenient.
Meet Eliseo, an EV Driver from Clearwater, FL
Financial Savings
Lower Purchase Price. Buying a used EV is often cheaper than buying a used gas car for several reasons. First, most used models now have a lower purchase price than their gas-powered counterparts. Some buyers are seeing EVs listed thousands of dollars below comparable gas-powered vehicles.
A Unique Advantage: While all cars’ resale value decreases as soon as they are driven off the lot, EVs have historically shown a steeper initial drop than internal combustion engine (ICE) vehicles. One reason is the rapid pace at which technology is evolving in EVs. Compare it to smartphone technology. The EVs rolling off the factory floor today have seen advancements in range and charging speeds compared with models three years ago. Whereas in that same three-year time period, gas-powered vehicles haven’t seen as many improvements. That means that used EV buyers will see a lower price for a three-year-old EV compared to a similar gas-powered vehicle. Though this gap is narrowing in 2026 as the market and technology mature, used EV shoppers are saving in the meantime.
When Eliseo’s old, gas-powered car finally died about a year ago, he said, “The numbers added up for me to buy a used EV.” He purchased the Chevrolet Bolt from Hertz, quipping, “I got a heck of a deal.”
Lower Fuel Costs. EVs save drivers money because they are cheaper to fuel. Even with lower gasoline prices, fueling an electric vehicle is still CONSIDERABLY cheaper than paying for gas. The average American’s monthly mileage, 1,100 miles, would cost $132.00 in a gas-powered vehicle. In an EV, that same mileage would only cost $56.57.
Eliseo said purchasing an EV came with a learning curve about the cost of charging on the road when traveling versus home charging. Traveling outside his “zone” of home charging caused him to pre-plan long-distance trips by identifying where to charge up and downloading the necessary app(s) to pay before travel. “I had to learn about the levels of charging, how to use the fast charger, and get the charging apps downloaded.” After getting his footing, Eliseo installed a home charger. He now conveniently charges at night and is paying far less than he would for gas.
Lower Maintenance Costs. Most repairs become more frequent and costly for a gas car between 50,000 and 100,000 miles. That pattern does not hold for EVs. Used electric vehicles have lower operating and maintenance costs because they have fewer moving parts (no spark plugs, timing belts, or starters) and never require the ongoing costs of oil changes. Those costs to repair and maintain a gas-powered vehicle are significantly higher.
These savings are meaningful to Eliseo, who mentioned the benefits he’s seeing from saving on maintenance in addition to fueling. “It costs me zero for maintenance and oil changes, only tire replacement.”
Combine initial lower purchase prices with ongoing fuel and maintenance savings, and the total cost of ownership solidifies EVs as the lower-cost option.
More Inventory to Choose From
The overall increase in production and the introduction of greater variety in new electric models a few years ago have created a used EV market with more options and product availability than ever before.
In 2022, the Inflation Reduction Act (IRA) created a tax credit of up to $7,500 for new EVs that was designed to sunset in 2032. However, when the Big Beautiful Bill (sic) was passed in 2025, it abruptly ended the EV tax credits as of September 2025. This caused EV drivers to go on a buying spree, seeking a new EV before the credits ended. The result was a huge influx of used EVs that are now available.
Additionally, the surplus of used EVs is expected to continue into 2026, as more than a quarter of a million EV leases are set to expire. This is a 200% year-over-year increase in off-lease EV volumes. Based on the behavior of returning franchise EV lessees in 2025, 62% replace their vehicles with new EVs. Among current EV owners, 94% say they “definitely will” (79%) or “probably will” (15%) consider an EV for their next purchase or lease.
In recent years, 70 percent of EVs have been leased. This is partially due to how the (repealed) IRA tax credits were structured. In order to qualify for purchasing an EV, there were requirements for US battery sourcing and manufacturing. However, to get a tax credit for leasing, those requirements didn’t exist, so many more makes and models qualified to be leased. Thus, most EVs were leased rather than purchased. That surge in inventory means 2026 will be a buyer’s market.
Reliability
Additionally, research shows that modern EV batteries rarely fail. The industry standard for the main battery is an 8-year/100,000 warranty. Services like Recurrent’s Connect Your Car let you monitor the battery’s health remotely, making it easier to buy a used EV with confidence.
As inflation remains high and new-car prices average over $50,000, more Americans are hunting for an affordable, reliable used vehicle. Finding a quality used electric vehicle is easier than ever. In 2026, the most affordable and reliable used-vehicle option will include an electric plug.
ABCs of EVs
If you are interested in lowering your transportation bills this year by switching to electric, learn more about electric vehicles in our “ABCs of EVs” Factsheet. It includes links to additional information on why EVs are more affordable, better, and more convenient than their gas-powered counterparts.
Join the Clean Energy Generation
Across the Southeast, people like Eliseo are saving money by embracing cleaner, cheaper energy solutions, like driving electric, installing solar, making home energy upgrades, or speaking up for clean energy in their communities. People and communities across the Southeast are building momentum as the Clean Energy Generation, taking action, sharing solutions, and celebrating successes as we transition from polluting, costly fossil fuels to affordable, reliable clean energy. Join the Clean Energy Generation to connect with others making a difference and get monthly updates with helpful resources, inspiring stories, and ways to take action.
![[Pixabay]](https://www.evshift.com/wp-content/uploads/2026/02/1770859355_news-p.v1.20260203.74fd8f802b444b15aaf20c114e818b43_P1-700x515.jpg "The conventional wisdom that “electric cars are expensive” no longer works in the used car market. T..")
