Quantcast
Do you know your car's MoT and mileage history? Our user profiles will show you for FREE | No thanks
Ask a Question

What's your question? Search here

Would buying a secondhand electric car be a wise investment?
Thinking about buying a small electric car for my wife. She does mainly local trips, shopping, visiting friends, absolute maximum 70 - 80 miles in a day. I know new electric cars are expensive and suffer huge depreciation in the first few years. Would a secondhand electric car be a wise investment and, if so, what is the life and cost of the battery?

Asked on 11 August 2017 by John Alderson

Answered by Honest John
The problem with all electric cars (apart from Tesla) is battery degradation. That's why it's better to buy the car (cheaply) and lease the battery (at from about £70 a month). If you buy a used electric car with battery included you could face having to replace it at a cost of £2000 - £3000, so make sure you include that in your sums.

Honest John recommends carwow – find and buy your perfect car, in just a few clicks

Dear Honest John,

Please help me choose my next car. I would like it to have:
    Select a few terms below
Similar questions
I currently own a 2014 BMW 3 Series 2.0d M Sport with 31,000 miles and I average 48 - 50mpg on my 50 mile round trip commute. I'm about to relocate due...
My household currently has two cars and are considering going electric with both, probably two used Nissan Leaf, battery owned. This would cover all of...
Related links
Our Fuel Cost Calculator shows you which will be the best choice for you. Compare the running costs of petrol, diesel and electric cars to make the right choice for you.
 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.

;