There’s an immense push towards electric vehicles on the go, with both industry and government wanting drivers to get behind the wheel of EVs. Infrastructure has improved over recent years too, but high prices of new EVs continue to be a major stumbling block when it comes to drivers actually getting behind the wheel of a battery-powered car.
However, one area where electric vehicles make a lot of sense is in the used market. Steep depreciation means that there are some fabulous bargains to be had and this means that many EVs are now cheaper or the same price as their equivalent petrol or diesel-powered model, despite having started from a much higher price. Let’s take a look at some great examples.
Jaguar I-Pace
Jaguar’s I-Pace was one of the first entries into the premium electric SUV market and, though many rivals have entered into the segment since, the I-Pace remains a great buy – particularly in the used market. The starting price for a new I-Pace is £69,995, but we found examples under five years old with as little as 7,000 miles on the clock for £35,900 – and there are even cheaper versions if you’re happy to stretch that mileage and age a little further.
It makes it similar in price to the petrol and diesel F-Pace of the same age – Jaguar’s core SUV – and there’s far more scope for lower running costs with the electric I-Pace.
Audi e-tron
The e-tron was Audi’s first foray into the mainstream of electric vehicles and it went on to establish its EV sub-brand around this ‘e-tron’ name too – it’s why the latest version of this electric SUV is now called ‘Q8 e-tron’ to better differentiate it. However, this early model represents excellent value for money on the used market as it has been hit particularly hard by depreciation.
The latest Q8 e-tron starts from £70,910, but we found a fully-specced 2021 model with 9,203 miles on the clock for £41,900 – so there are some big savings to be had. This puts it in similar price territory to Audi’s petrol and diesel Q5, but you’ll be able to get yourself more toys and equipment by opting for the e-tron.
Mercedes EQB
You might be noticing a theme here – some of the worst-hit EVs depreciation-wise are the large, expensive SUV models. The EQB is one such car, but this does mean that you’re able to find some hefty savings on this high-end Mercedes EV if you check out the used market.
The EQB is one of the few electric seven-seaters available and prices for new versions start from £52,500. However, look to the used market and for a 2022-year model with under 10,000 miles on the clock and you’re in the region of £36,999. You’ll pay similar money for a petrol-powered GLB, but you’ll find that the specification won’t be quite as high as on this electric version.
BMW iX3
The iX3 is another premium-feeling electric SUV which aims to put a battery-powered spin on the standard X3 which has proven immensely popular for BMW over the years. The iX3 is also one of the more ‘normal-looking’ electric SUVs out there and is quite similar in design to the standard petrol and diesel-powered model.
Currently, prices for the iX3 start from £65,160, but switch to the used market and you can net yourself a 2022 model-year version with 4,250 miles on the clock for an impressive £43,750. Again, this is similar in price to a like-for-like diesel X3, but equipment levels will be higher on this electric version.
Fiat 500e
If you want something slightly smaller, then the retro-inspired 500e from Fiat will likely have already entered the fray. As new, you’ll be spending £28,195, but this only secures a smaller battery model with a city range of 118 miles.
However, you could spend £25,495 on a 72-plate model with just five miles on the clock and you’ll also be getting a bigger-battery variant capable of returning up to 199 miles on a single charge.
