Buying an EV may not have crossed your mind if you’re looking for affordable used cars. This electric vehicle will make you think again.

The reality of buying an EV is that they are more expensive than traditional internal combustion engine (ICE) cars. However, prices have decreased in recent years, and as with all used cars, pre-owned models are more affordable than new ones.

There aren’t many used cars, in general, that you can buy for less than $15,000, let alone used EVs. Of the handful of vehicles that fall into this category, the Chevrolet Bolt EV stands out. Read on to discover why you should consider this impressive EV if you plan to buy used on a budget.

Solid Range for the Price

Given its use of relatively small 66 kWh lithium-ion batteries, the Chevrolet Bolt EV has a surprisingly high range. It gets an EPA-estimated range of 259 miles, which is about average for the segment, even among today’s much higher-priced new EVs.

If you compare the Chevrolet Bolt EV’s range to its chief competitor, the Nissan Leaf, you’ll see that the range is nothing to scoff at. Even the Leaf+ only gets an EPA-estimated 212 miles per charge.

Unique Style and Compelling Tech for an Older EV

The Chevrolet Bolt EV is no luxury vehicle. You’ll find run-of-the-mill materials throughout, not premium alternatives. That said, it is a uniquely stylish ride. If you can find a model from 2022-2024, you’ll find enhanced interior and exterior designs thanks to a mid-cycle facelift.

packed with cutting-edge tech for the time. You’ll get an eight-inch, fully digital gauge cluster and a 10.2-inch infotainment center with smartphone integration in any model. In 2022, GM added available Super Cruise and introduced the Bolt EUV, a more rugged alternative to the traditional Bolt EV.

What You Should Look for in These Used Cars

EVs age differently from ICE cars. Buyers should know what to look for when purchasing used EVs to get vehicles with plenty of life left in them, particularly given the Bolt’s 2020 battery recall.

At the time, Chevrolet used lithium-ion nickel-manganese-cobalt (NMC) batteries made by LG Chem. After the 2020 Chevy Bolt EV was released, it was determined that it had a high chance of battery fires when charged to 100%.

The recall fixed these batteries, and people who brought their cars back in got an additional eight-year warranty starting from the date of the new battery installation for some extra peace of mind. In other words: buy a 2020 Chevy Bolt EV if you can find it, but ensure the battery has been replaced.

Otherwise, the Bolt EVs are known for being reliable used cars. Their simple design netted them an iSeeCars reliability score of 7.1 out of 10, so there’s little to watch out for in the Bolt EV. Just check the battery’s health and how long it has left under warranty.

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Used SUVs = Lower Upfront Costs

If you need to stick to a budget and need to keep your upfront costs to a minimum, a traditional gas-powered used SUV is probably your best choice. A new EV will have a higher sticker price than something like a used Honda Pilot or Chevy Traverse.

Paying for Gas vs Paying for Electricity

Charging an EV is generally cheaper than filling a gas tank, especially if you do most of your charging at home. Public charging stations can be expensive, so if you do a lot of traveling, you’ll want to consider how much it will cost to recharge on the road and the time it takes to charge your battery as opposed to filling a tank.
The price of gas is always fluctuating, but it is usually more expensive than charging an electric car. Home charging is the most cost-effective way to keep your EV’s battery charged.

Insurance Costs – This is Where You’ll Save With a Gas-Powered SUV

Car insurance is a big factor to keep in mind when shopping for and buying a vehicle. A used SUV will be cheaper to insure than any new vehicle, but a new EV is even more expensive to insure because of the high cost of repairs.
EVs often require specially trained mechanics to perform major repairs because they are more complex in nature. On the other hand, a good old used Honda Pilot can be taken to your Honda dealership for repairs or to your trusted neighborhood mechanic when you need a quick oil change or tire rotation.

Depreciation, Depreciation, Depreciation

Have you ever bought a new car and had to buy extra insurance to cover the gap between how much you paid and how much it’s worth after you drive it off the dealership lot? New vehicles depreciate up to 20% in the first two years, and recent studies have shown that EVs have an even steeper decline than gasoline-powered vehicles in the first few years.
You can get ahead of this depreciation by buying a used SUV. Even a newer model used one will have already taken the biggest hit by the time you get it, so you can just enjoy your lower car payment and better value.

Rebates and Tax Incentives

There are pros and cons to buying a new EV and a used SUV. It all comes down to what you want and need. EVs, both new and used, are eligible for tax incentives and rebates to help with the initial cost, but used SUVs are cheaper to start with.

The post Electric vs. Used SUVs: Which One Gives You More for Your Money? first appeared on Ride4Watts.com.

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