5 Used Electric Vehicles at Surprising Prices
Electric vehicles have seen a resurgence in popularity since the return of the federal subsidy of up to $5,000. Several manufacturers are also taking aggressive steps by launching more affordable models or offering discounts.
In the used car market, some vehicles that were once considered expensive may now be very affordable. This is the case with more luxurious brands that have depreciated rapidly and are now available at reasonable prices. Value is also affected by common misconceptions about battery lifespan and the major technological advances made in this field.
While browsing the inventory available on Otogo.ca, here are five examples that The Car Guide found:
2024 Cadillac LYRIQ
You could get your hands on a luxurious, two-year-old LYRIQ for less than a brand-new Chevrolet Equinox EV. Who would have thought? This one is a rear-wheel-drive model with 340 horsepower, making it more powerful, and a comparable range of 505 km. It’s worth noting that it has a large 102-kWh battery, capable of charging at up to 190 kW at fast-charging stations. We’re talking about a certified pre-owned vehicle with only 24,700 km on the odometer, practically brand-new, for $45,995, whereas it originally retailed for over $66,000.
2024 Polestar 2
The Polestar brand has really taken off with the 2 sedan, a rival to the Tesla Model 3 and BMW i4. We found a 2024 model with all-wheel drive, 416 horsepower and a range of 444 km for the incredible price of $31,995... whereas it was worth about $64,000 when new, before incentives. This is the result of a new $6,000 price drop. Not bad for a refined car with that quintessentially Swedish flair. Its very comfortable seats make up for a suspension that leans toward the firm side. The mileage is reasonable at 65,300 km.
2023 Volkswagen ID.4
The ID.4 crossover did not have a 2026 model year, and production for our market ended in the spring. As you may recall, prices at some dealerships were sky-high at one point. In 2023, Volkswagen introduced a new, more affordable entry-level trim and made a few exterior and interior tweaks, in addition to upgrading the equipment with features such as a standard 12-inch multimedia screen. This rear-wheel-drive model has only 22,000 km on the odometer and, following a recent $4,000 price reduction, is selling for $27,995. That’s about $20,000 less than its original new price, in just three years.
2022 Kia Soul EV
Here’s an electric Soul that has lost nearly half its value in four years. We’re talking about a Premium EV model that has dropped from $42,995 to just $20,995. And to think that its original owner drove it only 36,000 km! Keep in mind that Kia made minor updates to its boxy car for 2022 and enlarged the touchscreen from 7 to 8 inches. Despite its 291 lb-ft of torque, the single electric motor runs out of steam quickly with 134 horsepower, while the range offered here doesn’t exceed 250 km. But for city driving, it’s just as good as a Fiat 500e.
2024 Mercedes-Benz EQE
Mercedes-Benz hasn’t had much success with its first electric vehicles, largely because their design differs a bit too much from the classic models that customers love so much. This is reflected in their rapid depreciation. Take a look at this two-year-old EQE midsize sedan with 43,900 km on the odometer. It’s a 402-horsepower 500 4MATIC version with all-wheel drive and a range of 446 km. Sold new for no less than $95,000, it ended up on the used car market at $64,995 before recently being marked down to as low as $57,777. That’s roughly the base price of a 2014 E-Class…
Visit Otogo.ca to learn more about these used electric vehicles and other deals at surprising prices, such as Mazda MX-30s for $17,000 or less!
