At a Glance
📈 Demand: Used EVs selling faster than gas cars
⏳ Deadline: $4,000 used EV tax credit ends Sept 30, 2025
🚗 Inventory: 70+ electrified models available
💰 Pricing: Stable, often under $25,000 after incentives
🔋 Top Pick: Used Teslas holding value strongly
Now may be the best time to buy a used electric vehicle. According to a recent study by top data analyst firm Recurrent, used electric vehicle inventory is increasing. Prices appear to be stable, and demand is high for used EVs. In fact, demand for these cars appears to be as high as used gasoline-powered cars.
High Demand for Used EVs
According to the report, used EVs are actually selling faster than ICE cars. One big reason for that is that as of July 4th of this year, President Trump passed his “Big, Beautiful Bill” which includes the end of federal tax incentives for new and used electric cars.
Because those incentives will end on September 30th, industry insiders say we will see a spike on the sale of used plug-in hybrid and all-electric cars with many buyers trying to grab some last-minute savings from the federal government.
There are actually several factors that are adding to the demand for used electric cars. Recurrent’s analysts suggest that these include a bigger and broader selection of quality used fuel-efficient used hybrids and plug-in hybrids as well as like-new electric vehicles with low mileage on dealer lots.
Need to understand EV tax incentives? Learn more here: EV Tax Credits Explained
There are currently over 70 electrified vehicle models available on the market and many of their options and high tech features are newer and more exciting than what is offered on used gas cars. Plus, used EVs are now as cost effective as used gas cars.
Used Teslas are Hot!
Amazingly, used Tesla cars have held their resale value remarkably well. Despite slow deliveries, a lack of handy dealerships, and plummeting stock prices, Elon Musk’s EV brand is holding its own, with only a two percent dip in used EV prices before a market share boost of nearly 50 percent in recent months.
Curious about Tesla’s resale performance? Explore our insights: Tesla’s Supercharger Network: Explained
“The interesting thing about our Tesla findings is that they remain very popular options for used car shoppers,” reported Recurrent’s Head of Growth & EV Research Andrew Garberson. “For people who want a high-range, low-mile, affordable used EV, it is often a Tesla based on their market share the last ten years. One car dealer even told us that someone looking for an affordable used EV ‘doesn’t care what Elon says or does. They just need a low-cost, reliable vehicle.’”
Now’s the Time to Deal
The federal EV tax incentive first appeared in 2008 as a $7,500 tax credit on new EVs. Then the Biden administration upped the ante by including a $4,000 tax credit on the purchase of used EVs. But with the September 30th demise of these incentives fast approaching, many buyers will try to get in on those savings before it is too late.
As of July 9th, Recurrent has seen interest in used EVs doubled week-over-week. “The main takeaway is that now is the time for people considering an affordable used EV,” Andrew Garberson tells us. “The tax credits are helping are helping to anchor prices to the $25,000 threshold so newer models with modern range and technology can be affordable for a lot of people. Eligible buyers can also apply the $4,000 rebate to the purchase price, even using it as a down payment. It’s a deal that can’t be beat.”
🔋 Explore More EV Buying Insights
- Buying a Used Electric Vehicle
Tips for finding the right used EV, from range considerations to battery health checks.
Read More ➜ - EV Tax Credits Explained
Learn how federal and state EV incentives can help you save thousands.
Read More ➜ - Top Affordable Electric Cars of 2025
Our picks for the best value EVs offering range, comfort, and tech.
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