Choosing Between Electric and Petrol Cars
When you’re on the hunt for a second-hand car, the decision between sticking with a trusty combustion engine or switching to an electric vehicle (EV) is becoming a big question for many drivers.
With new electric car sales hitting record highs, it’s no surprise that the availability of used EVs is growing fast—and so is the quality and driving range of these vehicles.
But even with this increase in options, many people are still hesitant to make the jump, often due to concerns about things like range anxiety or charging issues.
However, there’s a major financial upside to considering an EV over a petrol car.
New research has found that, on average, used petrol models are £2,560 more expensive than their electric counterparts, despite having similar mileage and age.
This price difference, about 10%, makes EVs a more attractive option for those looking for a more affordable second-hand car.
The Sweet Spot for EVs
According to CarGurus, the platform that conducted the research, we’ve hit a turning point: used EVs no longer cost a premium compared to fossil-fuel models.
Their report reveals that many electric vehicles now represent a much better deal in the used market, especially when you consider how steeply some cars depreciate in their first year.
Take the 2021 Mazda MX-30, for example.
A second-hand electric version of this model is 28% cheaper than its petrol counterpart, the Mazda CX-30—an average price drop of around £4,780.
Other brands are seeing similar trends.
A 2021 electric Jaguar I-Pace costs 22% less than the petrol F-Pace from the same year, and a 2022 Skoda Enyaq EV is 19% cheaper than its petrol-powered Kodiaq sibling.
Even models like the Renault Zoe EV and Volkswagen ID.3 are available at a lower cost than their petrol equivalents, proving that EVs offer serious savings when bought used.
The Best Time to Buy a Used EV
If you’re looking for the best deal on a used EV, research suggests that cars around three to four years old tend to offer the best value.
This is when the price of an EV typically drops below that of a similar petrol model.
Additionally, EVs generally have fewer miles on the clock compared to their combustion engine counterparts, making them even more attractive.
On average, second-hand electric vehicles have 18% fewer miles than similar petrol cars, which could save you from dealing with more wear and tear.
A great example of this is the Volkswagen ID.3, which has an average mileage 44% lower than the petrol-powered Golf, helping to make it an even better value choice.
The Rise of Used EVs
The UK’s car market is clearly shifting.
Recent figures from the Society of Motor Manufacturers and Traders show a 57.4% increase in used EV sales in 2024, meaning more and more drivers are considering electric cars as their next purchase.
The quality of second-hand EVs is also improving, with some models now offering ranges of over 250 miles per charge, which is a huge selling point for many.
Chris Knapman, from CarGurus, sums up the situation by saying, “The days of electric cars costing significantly more than their petrol or diesel equivalents are over—at least in the used market.
” He points out that, with thousands of pounds in savings and lower running costs, there’s never been a better time to consider a used EV.
The Cost of Ownership Advantage
It’s not just the initial purchase price that makes EVs so attractive.
Electric cars often have lower running costs, particularly if you can charge them at home.
Many buyers still overlook the long-term savings, and as more people realize that EVs are a better financial choice, demand for them is growing.
It’s a win-win situation for drivers looking to save money on both the purchase price and maintenance over time.
In short, used EVs are now a fantastic option for many motorists, offering great value and lower operating costs.
While electric car ownership might not work for everyone, it’s definitely something worth considering, especially with the savings you can make when buying used.
This article was published on TDPel Media. Thanks for reading!
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