If you’ve wanted to buy an electric vehicle, but the price has just been too high, think again. Electric cars are appearing more and more in the used car market. The result is prices dropping all over the UK. Now is the time to buy a used car and start saving money on fuel costs.
Of course, you might also need a new Type 2 charging cable or extra long charging cable to make your new used car work for your home setup. But let’s not get ahead of ourselves. Let’s get into why the used EV market is heating up.
Market Overview
Current data reveals a notable decline in used electric car prices throughout the UK, with average prices now falling below £20,000. However, many dealers remain hesitant to stock these vehicles. They worry about low demand and not enough charging facilities. Lower confidence means fewer buyers. That could be good news for you, though. Fewer buyers in a market with an increasing number of vehicles will see better and better prices.
Key recent news points include:
- Average electric vehicle prices have decreased from £22,158 to £19,548 - a 12% reduction over the past year.
- Certain models, such as the Seat Mii Electric and Volkswagen e-Up, have seen price reductions exceeding 40%.
- Many potential electric car buyers are unaware of these price reductions.
- Limited EV charging points and concerns about battery range remain significant barriers.
- 51% of surveyed used vehicle dealers reported less interest in stocking pre-owned EVs compared to last year.
The Government responded to these challenges by vowing to install 300,000 public chargers by 2030, alongside advocating for battery health certifications and purchase incentives.
Implications for Drivers
Drivers can benefit from the used electric vehicle market. You can find great deals on used cars and more choices. Dealers may also go car hunting for you. So, ask a dealer if they can find a specific used electric car in your budget.
“Lowering your carbon footprint” has become a bit of a catchphrase. Leaving the climate conversation aside, switching to an EV will simply save you money. Here’s why:
- You currently do not pay road tax on electric vehicles.
- Switching to electric could save money on fuel, especially if you can charge on a cheaper tariff overnight.
- There is less maintenance for many electric cars with no need for oil changes and almost no need for new brakes.
These are just a few reasons why drivers should be excited about the possibilities popping up in the used car market.
EV Cable Shop Can Help You Get Started
At EV Cable Shop, we pride ourselves on being the go-to source for high-quality EV charging cables. Whether you need a standard Type 2 cable or something longer to fit your home setup, we’ve got you covered. Our team is here to help you choose the right equipment and provide tips on making the most of your EV. Stay updated with the latest trends and news through our content, ensuring you have all the information you need to enjoy your electric vehicle.
The Last Lap
The second-hand EV market is evolving fast, offering you a great chance to switch to electric driving. At EV Cable Shop, we’re here to help with top-notch charging cables and expert advice. Explore our range and step into a more sustainable future with confidence.
