What's the resale value of an electric car?

Will I lose money when I resell my electric car? 

If you decide to buy a new electric car you can be pretty confident you’ll get a good price when you want to sell it. That’s because the value of electric cars is holding up well. 

This wasn’t always the case because people thought the batteries in electric cars might not last very long and that made prices plummet. Then electric car owners realised the batteries were holding up well and the value of second-hand electric cars rocketed. Resale prices of electric cars like the Nissan LEAF, Renault Zoe and Mitsubishi i-MiEV jumped by 50% between 2016-2018. 

How have electric car values changed over the last few years? 

Here’s what happened to the resale value of a 2014 24 kWh Nissan LEAF Acenta (with a 6.6 kW charger):  

  • 2014: £26,000 approx. purchase price
  • May 2016: £6,500 (not enough demand and worries about battery life)
  • May 2017: £8,000 (people get interested in electric and realise batteries last for years)
  • May 2018: £10,000 (people start to really take notice of electric) 
  • May 2021: £8,000 (price starts to drop as the car gets older and has more miles on it, plus there are more electric cars on the market)

If you’re buying electric today you can expect to get a decent amount of money back when you sell, depending on the model, how many miles you do and the condition of your car. But a word of caution, the car market changes all the time so don’t bet on making your fortune from the sale of a second-hand car.