10 Electric Vehicles With High Resale Value in Canada 2022
As we all know, when a car is driven away, its value instantly depreciates. The worth of the car continues to decay during its usage, this applies both traditional and electric vehicles. Electric vehicles used to lose more value over three years than gasoline cars since they were considered as a niche option with questions about their batteries health and range. However, it is generally believed that a trustworthy electric car retains its value better than others.
While used electric vehicles are now selling at highs, if you are thinking to buy a used electric vehicle, it’s better to know which EV models retain high resale value. There are many different types of used electric vehicles are available on the used car market in Canada, but it’s crucial to consider the vehicle’s future resale value before making a purchase. In this article, let’s look at the top 10 electric vehicles with the best resale values in Canada in 2022.
Tesla Model 3
All market sectors for electric cars are catered to by Tesla. The Tesla Model 3 is the ideal electric vehicle due to its high resale value and compact design. The Model 3 has a 515 km range on a single charge with the highest energy efficiency.
The Model 3 will continue to be in high demand for some time, as it’s considered as a baseline entry point for new drivers entering the EV market for the very first time. Many of Tesla’s unique features, such as additional wireless system updates that provide the second owner leverage, are integrated into the electric car.
Tesla Model X
Another of Tesla’s electric vehicles with the highest resale value is the 2019 Model X SUV. The Model X takes advantage of the expanding demand for SUVs, so there are good reasons to think that it will retain its resale value significantly better than the Model S.
The Model X outscored SUVs like the Mercedes-Benz GLS and Cadillac Escalade in terms of depreciation according to a recent survey report. This however comes at a cost, it’s the most expensive Tesla lineup at over 100k brand new and in at around 70k used after 3 years. This accounts for a 30% depreciation, but the Model X is still quite costly for many, but it can be used as a good placeholder for your money if you plan to change vehicles every 3-4 years.
Tesla Model S
Without a doubt, Tesla is the industry leader in electric vehicles. Unique features are offered in the Model S, which ultimately increases their value even on the used electric vehicle market. Tesla EVs have a high resale value, the S has a sizable touchscreen and automatic driver assistance, and a tonne of contemporary features that buyers are willing to pay for on the used EV market. The Model S also makes use of its strong connection, enabling Tesla owners to do real-time software updates for the system.
Chevrolet Bolt
Chevrolet Bolt, one of the well-liked electric vehicles in Canada with the best resale value. The Chevrolet Bolt outperformed comparable electric vehicles in the most recent J.D Power vehicle tests in terms of performance, price, and range. Additionally, the Chevrolet Bolt has Android Auto, a large 10-inch touchscreen, and Apple CarPlay. In addition, it offers choices for mobile Wi-Fi connectivity and driver assistance. With over 200 horsepower and a range of 385 km, this electric vehicle is roomy and durable. The Bolt is valuable on the used EV market because to these features. Within 3 years, the Chevrolet Bolt depreciates around 48% selling for about 25k below the original price purchased which is quite a good benchmark compared to traditional ICE vehicles.
Hyundai Ioniq Electric
With a few new improvements, the Hyundai Ioniq Electric is primarily a continuation model. Automatic high beams, emergency brakes, and a monitor with the driver in mind are all recent enhancements. The voice recognition system of the Ioniq has also been upgraded. The Hyundai Ioniq Electric’s remote controllable battery charge via a smartphone app is one of its best features. In terms of charging, it is a prize-winning vehicle because it promises to charge a mobile more quickly. In 3 years, this popular EV also depreciated around 48% in resale value.
For Canadian EV buyers, the warranty on the batter is valid for five years. The battery of the Hyundai Ioniq Electric can be charged more than 85% in less than 55 minutes and has a range of up to 190 miles. Additionally enhancing the Hyundai Ioniq Electric’s resale value is an 8-year battery guarantee. Other advances in the EV will continue to be well-liked by buyers of used electric vehicles.
Nissan Leaf
With a combination of dependability, range, and other crucial features, the Nissan Leaf maintains a better resale value than competing electric vehicles. Nissan has been steadily selling electric vehicles for over a decade, the car manufacture has more than enough time to make improvements on the EV. The 2019 Nissan Leaf can drive up to 225 kilometres on a single charge.
Nissan’s cutting-edge ProPilot package has raised the bar for the driving experience. The Leaf offers this technology to deliver the kind of highway-focused driving assistance that is often significantly more expensive and only found in high-end electric vehicles. Nissan completes the picture with a novel e-pedal system, which allows accessibility to stop the car just by pulling the foot off the accelerator.
BMW i3
The BMW i3 is one of the electric vehicles that will provide a respectable resale value, according to experts that prioritised range while analysing the top electric cars for resale value. The BMW i3’s standout features include mobile Wi-Fi and Driving Assistant. It also includes a lot of reasonably priced amenities, such as a distinctive interior with raw eucalyptus-wood accents. The i3 also has plush leather seats, which give it a classy and angular appearance. The electric car enhances BMW’s reputation for cutting-edge engineering in addition to driving performance.
Volkswagen e-Golf
The Volkswagen e-Golf has a 200 km range, according to the EPA. If you’re looking for the used electric cars with the highest resale value, that’s an extremely affordable price. Standard features include heated front seats, Apple CarPlay, and Android Auto.
The e-Golf can outperform competitors like the Kia Soul EV, Hyundai Ioniq Electric, and Honda Clarity Electric. The e-Golf is like an electric carving knife designed for carving corners because it also borrows the XDS Cross Differential System from the GTI hot hatch.
Kia Niro EV
In recent years, Kia’s reliability reputation has improved even more, garnering top ratings from publications around the world. This explains why the Kia Niro EV is listed among the electric cars with the highest resale value in our portfolio.
Additionally, Kia offers the features and range that buyers seek in a used electric vehicle. The Niro EV has a range of luxurious features, like LED lighting and Harman Kardon audio, and the EV is capable of going up to 385 km on a single charge.
Hyundai Kona Electric
The Hyundai Kona is one of the best-selling electric vehicle in Canada. The Kona Electric can provide 415 kilometres of driving on a full charge, while Hyundai also produces gas-powered Kona variants that share many of the EV’s advantages.
Beyond that price range, Hyundai supports its case for high resale value by a lifetime battery warranty. Additionally, there is no lack of substance due to the EV’s inclusion of numerous standard technology that used-EV shoppers will continue to find appealing. These features include automatic forward emergency braking, lane-keeping assistance, and pedestrian recognition are leading the pack.
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