Porsche Taycan, Audi E-Tron, and Mercedes EQS – luxury EVs face staggering depreciation rates of up to 50% within the first year. If you’re considering an electric car, now might be the perfect time to go for a barely used model. Even entry-level EVs offer significant savings.
A Buyer’s Market for used luxury EVs
Happy car dealers are a rare sight these days, especially when it comes to electric vehicles. Despite hefty new car discounts, sales have slumped since government subsidies were scrapped. Showrooms are overflowing, a stark contrast to the days when EV enthusiasts faced months-long waits for their dream cars.
The market now teems with lightly used vehicles – leased, financed, or rented cars returning to dealerships sooner than expected. Luxury EVs are particularly abundant, often languishing in showrooms due to lukewarm demand.
For savvy buyers, this means unparalleled deals. Cars that once cost over €100,000 can often be found for half the price after a year. Many come loaded with premium features and are available for purchase, lease, or financing. It’s an appealing alternative to buying new, even for those eyeing mid-range models. And it’s not just luxury EVs facing steep depreciation – volume models aren’t immune either.
Audi E-Tron GT: Style Meets Steep Depreciation
The Audi E-Tron GT is a sporty and stylish way to drive electric, boasting sharp design, quick charging, and superb handling. Yet its resale value plummets alarmingly. Whether you opt for the standard model or the high-performance RS version, dealers are listing one-year-old cars with 5,000–10,000 kilometers for just €68,000–€90,000— – ess than half the original price.
BMW iX: Luxury SUV, Secondhand Value
BMW’s luxury electric SUV, the iX, also sees sharp depreciation. The base iX40 xDrive, with its 240 kW (326 PS) powertrain, all-wheel drive, and premium features, is often listed for under €50,000 after just a year and 5,000 kilometers – over 40% off the new price. Upcoming updates to the iX are likely to push secondhand prices even lower.
Mercedes EQS: Flagship Luxury, Budget Price
The Mercedes EQS, in its various drivetrain configurations (450, 450+, and 580), struggles to attract buyers. Despite its luxury, a well-equipped EQS 450+ with under 5,000 kilometers and 18 months of use can be had for under €65,000. Many dealers also offer attractive leasing terms to move these vehicles. For long-distance travel, few EVs deliver more luxury for less.
Fiat 500e: Stylish Bargains for Entry-Level EVs
Deals aren’t confined to the used luxury EVs segment. The Fiat 500e, initially priced above €36,000, has dropped significantly despite its undeniable appeal. After price cuts to €30,000 and later €25,000, new 500e models with zero kilometers are now available for under €20,000. They come equipped with solid features, including navigation and winter packages – ready for immediate delivery.
Opel Corsa Electric: Practical and Affordable
Sharing its platform with the Peugeot e-208, the Opel Corsa Electric offers a sleek design, 100 kW (136 PS) of power, and over 250 km of range. Almost-new cars, registered for a few months but unused, are listed for under €25,000. Just pick your preferred color and interior – there’s no shortage of options.
Peugeot e-208: Watch for New Car Discounts
The Peugeot e-208 also offers great deals, though it’s worth comparing new and used prices. Many new models with minimal mileage are being sold with substantial discounts, often below €25,000. Be sure to check for the 11 kW onboard charger, especially if frequent charging is required, as this is an area where the e-208 – and its Opel twin – falls short.
Porsche Taycan: Half-Price Performance
Sharing much of its technology with the Audi E-Tron GT, the Porsche Taycan also suffers from extreme depreciation. High-performance models costing over €150,000 new see their value halved within a year. A Porsche Taycan Turbo S, initially priced at €200,000, is frequently listed at around €100,000 with 10,000–20,000 kilometers on the clock.
Skoda Enyaq: Family-Friendly Deals
Midsize crossovers like the Skoda Enyaq aren’t as volatile, but there are still bargains to be found. With less than 5,000 kilometers and under a year of use, a decently equipped Enyaq with a smaller battery (iV50/iV60) can cost as little as €30,000. Recent updates have further pressured prices for nearly new models.
VW ID.3: Once a Star, Now a Struggle
The VW ID.3, once touted as the electric Golf, hasn’t gained the traction VW hoped for. With solid (if unspectacular) technology and performance, it offers some compelling deals. Nearly new models with 125 or 150 kW motors and various battery options are listed well below €30,000, often in near-new condition. Be cautious, though – some brand-new, unregistered cars are priced just as competitively.
Verdict
From used luxury EVs to entry-level battery-zoomers, the EV market offers unprecedented opportunities for buyers. With steep depreciation and abundant stock, now is the time to snag a deal on a nearly new electric car – whether it’s a high-performance Porsche or a budget-friendly Fiat.
