Plug-in Cars as the Best Second-hand Car Bargains

July 8, 2016

640px-Toyota_PHEV_Tokyo_09_2008_(1)You have probably been eyeing a newly launched plug-in hybrid or battery electric car only to be turned off by its price. If so, it would be great to consider exploring your options in the market for used cars. The cost of electric and hybrid, as well as plug-in cars that have been used for 1-3 years has gone down over the last few years. This has made them the best and hottest selling deals around. The approximate price of a new electric vehicle goes down by $3,830 annually with a used vehicle. On the contrary, the traditional gasoline vehicles have dropped by just $242 over the same period. This figure was reported in a study conducted by iSeeCars.com, a second-hand car aggregator.

The Chief Executive Officer of iSeeCars.com said that the used vehicle market may have finally reached its sweet spot with the prices having dropped enough to increase the desirability of these cars. The general population is currently inclined towards second hand vehicles. The lease incentives given by automakers have been lucrative, which has further contributed to the rising figure of used plug-in cars. It implies that the majority of the second-hand plug-in cars in the market qualify for the used car programs offered by automakers. This further makes the deal better.

For instance, the price of a used Nissan Leaf is about half of the original retail price of $30,000. This price is inclusive of a federal rebate incentive of $7,500. A study incorporating more than 2.2 million close-to-new vehicles gave the estimate retail price of a second-hand Leaf as $12,533. The study also reported that out of the ten fastest selling second-hand cars, five of them are plug-in hybrid or electric car models. Toyota Prius was stated as the fastest mover with a sale made in less than 20 days. This is twice the selling speed of a standard second-hand vehicle.

The second fastest seller is Nissan’s Leaf electric vehicle, which took around 24 days to sell. The third seller is Tesla’s Model S that took about 26 days to sell. Other notable fast movers are Lexus CT200H and Toyota’s Highlander Hybrid. The findings obtained are a clear indication that the green car market is gaining popularity. Many people are now choosing green cars instead of traditional gasoline cars. Consumers willing to jump onto the plug-in, electric or hybrid bandwagon have a chance to purchase one at an affordable cost. Used green cars are evidently a great option.

 

Filed under: Electric Cars,Green News and Products,hybrid cars,Lifestyle

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