Mikkel Christensen
A growing supply of second-hand electric vehicles is set to reshape the market in the coming months.
A growing supply of second-hand electric vehicles is set to reshape the market in the coming months.
Analysts say a wave of returning leases could create new opportunities for buyers.
According to 6ABC, vehicles leased just a few years ago are now approaching the resale market, increasing availability and putting downward pressure on prices.
Market shift ahead
Industry analysts point to 2026 as a key moment, when large numbers of electric vehicles leased in 2023 are expected to return to dealerships.
This influx is likely to expand choices for buyers and increase competition among sellers.
“We have a ton of EVs that were leased in 2023, that are basically guaranteed to come back to market in 2026,” said Joseph Yoon, consumer insights analyst at Edmunds.com.
He added that current conditions already favor buyers, with used electric models becoming more accessible compared to recent years.
A better deal
For some drivers, the price difference between new and used models is significant. Julius Lopez from Thousand Oaks,
California chose a pre-owned 2023 Kia Niro EV after comparing costs.
“We purchased it one year old, 5,000 miles on it, and saved about a third of the price,” he said. “It was $30,000. That’s a great deal; that’s a fantastic deal.”
His experience reflects a broader pattern highlighted by 6ABC, where depreciation is making relatively new EVs more attainable for budget-conscious buyers.
Battery and value
Battery reliability remains a key consideration, though improvements over time have reduced earlier concerns. Lopez said warranty coverage and low mileage helped address those questions.
“Batteries have come a huge way since the old hybrid days of 25 to 30 years ago,” said Yoon.
6ABC reported that some sellers now provide a “battery score” to indicate condition, while experts recommend certified pre-owned options and checking for local incentives when possible.
Lower-cost models such as the Chevy Bolt and Nissan LEAF may still appeal to buyers prioritizing affordability.
“I wouldn’t buy any other way,” Lopez said.
Sources: 6ABC News, Edmunds
