‘Spectacular bargains’: why now is a great time to buy a used electric car in the UK

If your current car is on the way out and you think an electric replacement is too expensive, think again. Three-year-old Tesla Model 3s and Kia e-Niros that will do 250-300 miles on a single charge can now be bought for as little as £14,000.

In the last year, forecourt prices for used electric cars have tumbled to the extent that previously unaffordable models are now within the reach of many families for the first time.

Values have fallen so much that two weeks ago Auto Trader said they had reached near-parity with petrol cars. The average price of a three- to five-year-old EV in July was £18,964, compared with £18,076 for petrol models of the same age, it said.

Three or four years ago, some gamechanging, super-efficient models were being snapped up new by buyers in large numbers. They typically cost £40,000-£50,000 new, but three years on these vehicles are now appearing on the used car market with 60,000-75,000 miles on the clock, at much more affordable prices.

“There are some spectacular bargains out there,” says David Smith of Cheltenham-based Cleevely Electric Vehicles, one of the UK’s highest regarded independent sellers and servicers of EVs.

“Cars that have proved reliable, with batteries offering close to the range that they had when new – many with several years’ warranty left – can be bought for a fraction of their new price.”

Asked which electric car he would recommend to a family for under £15,000, he’s unequivocal in his recommendation of the 64kWh-batteried Kia e-Niro.

“These cars are really efficient, have a good range – of about 250 miles, depending on conditions – and have proved reliable both mechanically and for battery life,” he says.

“Many will have the balance of the original seven-year warranty. If you do a lot of long journeys and will have to rely on the public chargers away from home, then you may want to opt for a Tesla, which gains you access to its fast-charging network. But for those looking for the maximum car for the money, the e-Niro really delivers.”

Smith says another model for the price-conscious EV buyer to consider is the MG5, which is a traditional-looking estate car. Cleevely Electric Vehicles has seven mobile mechanics who tour the UK in these models servicing cars, and he says they have proved very reliable – in several cases doing more than 200,000 miles without any major problem.

He says buyers need not be put off by relatively higher mileage EVs even though there is a perception they are a risk because the batteries can fail or degrade. Smith says his company has seen plenty of 60,000-mile cars showing very little range loss from new.

One advantage of opting for a used high-mileage EV is that any gremlins that can dog new electric cars will have been ironed out.

This week, Guardian Money found several Kia e-Niros with the 64kWh battery for sale on Auto Trader for £14,000-£15,000, some with as few as 37,000 miles on the clock. If you are prepared to buy privately – without the consumer protection of buying from a dealer – the cars are significantly cheaper.

Used, long-range Tesla Model 3s with about 100,000 miles on the clock can be bought for less than £15,000, while £20,000 buys you a more recent model with 55,000 miles on the dashboard. There are several cars for sale with 170,000 miles on the clock, and some Teslas being used as taxis have clocked up 440,000 miles, suggesting they are good for big mileages.

Unless you only drive short trips from home, we’d opt for the longest-range model you can afford – one that will do 250-300 real-world miles on a single charge.

If £14,000 is above budget, used MG5s with a 61kWh battery can now be had for £10,000, with 75,000 miles on the clock. These will do about 200 miles on a single charge in real-world use. The more recently launched MG4s with a 64kWh battery and a 250-mile range start at £16,345 used, with 20,000 miles on the clock.

Richard Symons, who set up R Symons, a specialist EV dealer way back (in EV terms) in 2010, is another fan of the e-Niro if you need a family-type car that offers good internal space. If a standard saloon fits the bill, he says Tesla Model 3s are now fantastic used buys. “We sell them and run them ourselves,” he says. “We have a white Model 3 that we use on a daily basis and now has over 100,000 miles on the clock. In that time, the only thing that it required was some new suspension bushes at a cost of about £1,500, some wiper blades, and tyres.

“These are high-performance cars packed with technology – if that’s your thing – and they cost peanuts to recharge at home.

Related: Making the switch to electric vehicles: ‘The biggest shock was the huge savings’

“About 38% of its charging has been done using the Tesla fast-charging network, which is supposed to be harder on the batteries. The car’s battery is still running at just under 90% of its original capacity. If the battery has problems in the future this is now easily fixed. It’s possible to replace the damaged cells – it takes a couple of hours. Much easier than replacing an engine on a conventional car.”

If you are still not convinced, consider his parting shot. He says buyers who can charge at home using an off-peak EV tariff will pay as little as £150 for every 10,000 miles travelled, a fraction of the £1,600 or so it would cost to fuel a petrol or diesel car over the same distance.

Darren Cassey, website reviews editor at the secondhand sales website Carwow, says the drop in used electric car prices means those who were hoping to buy new should consider the secondhand market first.

“With the number of electric models on sale growing all the time, there’s now plenty of choice with a £15,000 budget. You could go for the cool, quirky BMW i3, which is a brilliant city car, or perhaps a Citroën ë-C4, which is comfortable and suitable for family life,” he says.

“Even if you’re already considering a new EV, don’t discount the used market – for the price of a new, mainstream electric vehicle you’ve a wide choice of hi-tech and luxurious models from premium brands which are a couple of years old and barely run in.”

What do I need to know about buying?

The biggest thing to weigh up is how you will charge the car. EVs still make the most financial sense for those with a home charger. Buyers will need to shift their electricity supply to a specialist EV tariff; these typically offer night-time charging for about 8p a kWh – or £5 for a 60kWh recharge – making the car very cheap to run.

However, it’s a completely different story if you are going to rely on public “superchargers”, which are quick, but now very expensive. Which? said in July these chargers typically cost 79p a kWh – 10 times home-charging rates, and more expensive than running a petrol model.

You also need to consider insurance. As a general rule, we reckon EV owners will pay twice as much to insure a like-for-like model than they now pay for a petrol or diesel version. It can really vary, so we would strongly recommend you get a full quotation before you make the purchase.

The next thing to consider is what kind of warranty is left on the car. Kias come with a seven-year warranty up to 100,000 miles, while Tesla Model 3s get eight years or 150,000 miles, whichever comes first. Make sure that the previous owner has complied with the servicing regime and that the warranty is valid. Your local dealer will be able to tell you this. Don’t just take the seller’s word for it.

One of the advantages of buying from one of the dealers that now specialise in used EVs is that you have the Consumer Rights Act on your side if the car turns out not to be as described. They will often offer some kind of warranty independent of the manufacturer’s.

Don’t forget to factor in the cost of charging cables – which, at £200-£300 a go, can add up. Some sellers will throw in the cables, others won’t. Tyre wear on EVs is not the issue that some people would have you believe, although replacements may cost a bit more than on your old Ford Focus. Servicing should be cheaper though.