Unlike traditional cars that steadily depreciate, used electric vehicle (EV) prices are increasing in 2026. Recurrent data shows used EV prices rose 5.1% from January to June, and 7% year-to-date through mid-July. Edmunds noted that 3-year-old EVs rose 6% to an average of $33,303 in the first half of the year.
Price appreciation is happening despite record supply hitting the market - including over 500,000 leased EVs returning as used cars - and the expiration of federal EV tax credits after September 2025.
Strong consumer demand is counterbalancing the high inventory, driven largely by:
High Gasoline Prices: Spurred by conflict involving Iran, average gas prices jumped roughly 31% year-over-year to about $4.10 per gallon, boosting interest in fuel-efficient options.
Affordability and Lower Ownership Costs: Persistent inflation has pushed budget-conscious buyers toward used options. Lower overall maintenance costs and cheaper home charging options make newer used EVs competitive with older gas-powered vehicles.
Price increases have been most pronounced at the lower end of the market. Used EVs under $20,000 jumped 9.4% in the first half of the year, while models priced over $40,000 actually saw price declines.
What It Means
For Sellers: Current owners looking to sell or reach the end of their lease cycle have strong odds of securing favorable resale values and should shop around.
For Buyers: While used EVs offer better technology and lower operating costs, higher upfront price tags on budget-friendly models can present affordability challenges.
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-Paul