As gas costs continue to rise in Canada, electric vehicles are becoming a more viable alternative for Canadian car shoppers. A new EV usually comes with a higher price tag than its gasoline counterpart and it may not be affordable for everyone. While buying a used electric vehicle in Canada may be a good option, people shopping for a used vehicle are hoping that it’s inexpensive to purchase, easy to maintain, and can be efficient on fuel. A used electric vehicle will check off all those boxes. However, before you buy a used electric car, you should be aware of the benefits and drawbacks that come with purchasing a used electric vehicle.
Although a used electric vehicle can be a good deal, it may not be the best option for everyone. If you’re considering purchasing a used electric vehicle in 2022, here are some benefits and drawbacks to consider and determine if it’s the best choice for you.
- Pros with buying a used electric vehicle in Canada
- Cons with buying a used electric vehicle in Canada
Pros with buying a used electric vehicle in Canada
Buying a used EV can be a bargain
One of the most compelling reasons to buy a used electric vehicle is the pricing. Whether for EVs or standard cars, depreciation is always the most expensive factor, and the initial owner takes the biggest hit of depreciation cost. This can be especially true when purchasing old EVs, as EVs tend to lose value more quickly than traditional vehicles, buying a used electric vehicle can be a bargain.
Operating costs are lower
There are fewer moving parts in electric vehicles, and because battery EVs do not have a gasoline engine, they do not require regular oil changes. This applies to both new and used electric vehicles. Not to add the obvious benefit of driving an electric car: it saves money on gas, as electricity is always cheaper than gas no matter where you plug in across the country.
EVs provide a better driving experience
Electric vehicles do not have an internal combustion engine; instead, they have an electric powertrain that delivers smooth acceleration and deceleration, making them more enjoyable to drive. Driving an electric vehicle is often smoother and quieter than driving a fuel vehicle. The low centre of gravity of an electric vehicle can help with handling, responsiveness, and ride comfort.
Going green with a healthier solution
EVs emit less global warming emissions and minimise your carbon footprint, whether new or old. When you buy a used electric vehicle, you benefit the environment even more than if you buy a new one. Furthermore, gasoline automobiles burn gasoline and diesel, emitting poisonous gases that are hazardous to our health, whereas EVs emit far fewer dangerous exhaust pollutants. Carbon monoxide, benzene, particulates, volatile organic, formaldehyde, and diesel particulate matter are all known or probable carcinogens.
Increasing EV charger infrastructure in Canada
Range Anxiety remains a major concern for many potential EV buyers. Ev drivers usually concern that if they have a long journey ahead of them, they will not be able to complete it on a single charge. The good news is, in Canada, we have over 15,000 public charging stations in 6,578 locations across the country as of late 2021.
Incentives for buying used electric vehicles in Canada
Incentives for Zero-Emission Vehicles Program (iZEV) offered by the government of Canada provides $2,500 to $5,000 incentives to encourage people to buy electric cars. While the federal incentives not apply to used electric vehicle purchases, some provincial incentives apply to used electric vehicles.
Depending on where you live, while you may not be able to benefit from the full amount, here are some provincial incentives on buying a used electric vehicle:
Ontario: $1,000 toward the purchase of a used fully electric car that has a resale sticker price below $50,000 CDN.
Nova Scotia: A $2,000 discount on used electric vehicles.
Prince Edward Island: A $5,000 incentive for a used electric vehicle.
Make sure you do your search and check out how much incentive you could get exactly before making your purchase.
Cons with buying a used electric vehicle in Canada
Any battery-powered device’s performance degrades over time, and the same thing can happen to old electric vehicles. The age of the battery in a used EV will affect how far you can drive. Because a battery’s a
bility to hold charge decreases as it ages, your battery range may be impacted. The battery of a used electric vehicle declines due to a variety of circumstances. One of the most significant components is the EV’s battery cooling system, as liquid cooling assists to retain battery performance. However, not all EVs use the same method; the Nissan Leaf, for example, has an air-cooled battery. Furthermore, some automakers produce stronger batteries than others; for example, Tesla’s batteries can withstand a charge of more than 90% after driving 320,000 kilometers.
You might look for a used electric vehicle with a vaild manufacturer’s warranty. The majority of battery warranties last for 160,000 kilometres or eight years, whichever comes first, following the initial purchase. While not all warranties are transferable to subsequent owners, you can check with the manufacturer using the VIN (vehicle identifying number) to see if the guarantee is still valid and transferable.
At Carnex, all our electric vehicles have a full diagnostic run by our experienced EV technicians, we will help you choose the best used electric vehicle at a great price.
If you plan on purchasing a secondhand electric vehicle and keeping it for a few years, you should be aware that its technology will quickly become obsolete. While technology obsolescence affects traditional fuel vehicles as well, the impacts are amplified for older electric vehicles due to rapid advancements in EV technology.
Limitations on charging your EV
Whether you buy a new or used electric vehicle, you’ll need a charging station to power it. You may use public chargers, but you are restricted to your current location. You can charge your EV by plugging it into a wall socket, but it will take much longer time. If you charge at home with a 120-volt outlet, it may take up to 15 hours to fully charge the battery. Even with a Level 2 charger, getting a full charge will take a few hours. These aren’t the most convenient solutions, as the recharge time could take longer. While public chargers aren’t as common as gas stations, you may need to further invest on a charger for your house.
Reduced resale value
Whether it’s for EVs or standard cars, depreciation is always the most expensive element. One of the advantages of purchasing a used EV is that the initial owner has already experienced the brunt of the depreciation. The range of a used electric vehicle is the most important factor in evaluating its value. Therefore, some top-of-the-line EV’s like Tesla and Mercedes, can retain their values better than some other EVs.
Although the initial owner took the biggest damage in terms of depreciation, don’t expect much value if you plan to sell it. Because you were able to purchase a used electric vehicle at a lower price, its depreciation will be multiplied over time.
While EVs still have certain drawbacks, they are nevertheless a viable alternative to traditional internal combustion engines and hybrid vehicles. EV will become more practical options over time with the charging and battery technology improves and costs decrease. If you’r looking for a used electric vehicle at an affordable price with the most worry free purchase, check out the best used electric vehicle deals at Carnex. Carnex.ca, an online electric vehicle dealership that is open for online shopping 24/7.
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