
Reliable, cost-conscious used EVs exist, and they may also qualify for a $4,500 federal tax credit. Because of depreciation, you may be able to get a newer electric vehicle with more features than if you purchased a comparable gas-powered vehicle for the same price.
“The sweet spot for a used EV is one that’s still under its battery warranty but that’s depreciated enough for significant savings compared to a new one,” says Alex Knizek, associate director of auto test development at CR’s Auto Test Center. “You should also consider how long you plan to keep the car, and if the savings are worth it compared to buying a hybrid vehicle that may be more reliable in the long run.”