The Expert Podcast

Episode Description 
The used car market explosion isn't limited to gas vehicles - electric vehicles are experiencing the same dramatic price increases. Discover why used EV prices are jumping $1,500 on average and what factors are driving this unexpected trend in the electric vehicle market. 

Key Points Covered: 
  • Market-wide price surge - Used EV prices are skyrocketing alongside traditional gas vehicles, with average increases of $1,500
  • Supply shortage crisis - New car shortages are creating ripple effects in the used EV market, with retail supply down to just 29 days (normally 44 days)
  • Dealer buying frenzy - It's a "buy anything" market for EV dealers who are paying top dollar for used EV trade-ins due to limited new vehicle supply
  • Battery health is everything - The most critical factor in used EV pricing is proving the battery is in good condition, as it's the most expensive replaceable component
  • Simplified mechanics advantage - Unlike traditional vehicles, EVs have fewer moving parts (no internal combustion engine, transmission, or complex driveline components), making the battery the primary concern
  • Battery degradation factors - Used EV values depend heavily on avoiding battery damage from excessive fast charging, heat exposure, or general misuse
  • Proof of health required - Sellers who can demonstrate their EV battery's good condition command premium prices in the current market
  • Buyer considerations - When purchasing a used EV, ensuring significant remaining battery health is crucial for long-term value and performance
The used EV market mirrors the broader automotive market surge, but battery condition remains the unique determining factor for electric vehicle values.

What is The Expert Podcast?

The Expert Podcast brings you firsthand narratives from experts across diverse industries, including private investigators, general contractors and builders, insurance agencies, vehicle specialists, lawyers, and many others.

The used car skyrocketing market is not exclusive to gas vehicles. EVs are also going through the roof with the caveat that battery health is very important as we'll see in this article with a quote from a dealer association. This is where EVs are going up fifteen hundred dollars average used car price so that's a pretty high jump in used car prices. There's factors that include shortage of new cars and even used cars not being available. This strong EV market choked by supply issues has now reached used EVs.

On the used car market retail supply is just 29 days now. This is a few months ago so it's actually even lower than that now. Normally it's 44 days but it's been considerably shorter than that for some EVs. The most important thing that this article will tell you about is from a dealer perspective it's anything buy market for EVs right now meaning that if you're a dealer any EV you want to buy and put it on your lot supply of new vehicles is so limited that dealers are paying top dollar for used EV trade-ins.

Especially when sellers can prove their battery is in good shape the battery is the key to these EVs. There's really no other moving parts there's no internal combustion engine no transmission a lot of the driveline components are simplified. The most expensive wearable part on a used EV is the battery so here's the CEO of Recurrent which says the battery has to be proven to be in good shape.

So the used car market going through the roof but you just have to make sure that you can prove your battery is in good shape or if you're buying a vehicle you want to make sure that your battery has a lot of health left and it's not been worn out by too much fast charging or too much heat or just misuse in general. The used EV market is just like the gas market that's going through the roof. The caveat though is battery health is considerably important.