Buyers of new electric vehicles have a few things to consider before shelling out a premium for a vehicle which uses mostly untested technology. Among these are reliability, mileage and of course, resale value.
Fortunately, now that these vehicles have been on the road for a few years we have answers to all three of those questions. The mileage numbers are fairly well known by now as are the reliability issues (or lack thereof) for most of these vehicles. And now, based on a new report from Kelley Blue Book, the guide for used car resale sellers and buyers, sheds some light on the issue what your electric vehicle might be worth when it comes time to trade it is.
The good news is that these new electric vehicles are proving to be hardier and more enduring than many had surmised they would be. In fact, for many of these vehicles, the resale value is almost as high as it is for their traditional gasoline powered cousins. That is a further incentive for buyers of electric vehicles who enjoy trading in their cars every couple years or so and driving something new.
At this point buying an electric vehicle means paying a little more money for a little less money and a lot more risk than if you just bought a traditional gasoline powered vehicle. The higher resale value certainly has been affected by the recent reports showing electric cars are not only cheap on gasoline (or use no gasoline) they are also great cars. Consumer Reports magazine said the Chevy Volt was at the top of its owner satisfaction category for the second year in a row.
If you are in the market for an alternative fuel vehicle, whether it is all-electric or a hybrid electric vehicle, you can rest assured that your new vehicle won’t suffer much worse in value when you drive it off the lot than a traditional gasoline powered vehicle.