A year ago, the new Ford Mustang Mach-E GT had a sticker price around $55,000. A month ago, Jeff Craig, a retired realtor, bought a slightly used 2024 version for $33,000. In exchange for 12 months and 13,000 miles, Craig got a 22% discount. “I really did want an electric vehicle and I never had any intention of buying new,” he said. Pre-owned electric cars and trucks in America are now almost as cheap as used gas-powered vehicles, on average, and are selling even faster, according to Cox Automotive, a services and technology company. What’s more, sales of used EVs this year through June increased by 34% over the year-earlier period, while the market for new EVs only ticked up a tad.Several factors are feeding the buzz around used EVs. There’s evidence that EVs may prove to be more reliable over time than gas-powered machines. Without radiators, spark plugs or oil, they require little in the way of scheduled maintenance. EV batteries are proving to be more durable than expected and in the US they are generally covered under warranty for at least eight years or 100,000 miles.
