Turning Your Electric Vehicle Into Cash: Tips On How To Sell Your EV

by Oct 30, 2022Car selling, Electric cars0 comments

Here are tips on how to sell your EV in Canada.

With some of the most recent all-electric vehicles capable of travel well over 300 to 500 kilometers on a single charge, EVs are quickly becoming a appealing option for a rising number of Canadian drivers. While some EV owners are transitioning from plug-in hybrid (PHEV) to full battery electric vehicle (FBEV) , some plan to swap in their ICE vehicle for a EV with a larger battery that capable for a longer travel range. With so many Canadian drivers switching to electric vehicles today, it may seem like a perfect time to sell your EV  with such great demand. So now we have come to the question, how can you get the most out of your used electric vehicle in Canada? Because buying and selling used EVs could be quite different compare to selling a used gas-powered car.

While selling used EVs may be an entirely new world, how can you make the most out of your used electric vehicle? Keep reading this article to find out tip to help you optimize your electric vehicle value and even sell your EV at a premium.

Determine the resale value of your EV

Determining the worth of your electric vehicle is critical if you are selling your used EV privately. The true condition of your used vehicle will define its value, and setting a fair price for your used electric vehicle is crucial to a smooth transaction. Setting the price too high may result in no buyers, while pricing it too low may result in a reduced sale price.

While most used car calculators are not specifically design for used EV, they can still be useful in some ways to help you set a baseline. You may want use these tools to double-check your electric vehicle’s evaluation. This establishes a price floor for any similar car in your area and will assist you in determining the optimal price for your EV. 

On the other hand, understanding wider trends in EV prices is advantageous. Car values plummeted at the outset of the epidemic because no one was driving, then skyrocketed after chip shortages restricted new car supply. 

It’s also important to understand that your vehicle’s history, battery health, overall condition, and odometer reading all have an impact on its worth. You should conduct some research to learn how much similar used electric vehicles in your area have sold for. You can use the average to calculate the value of your vehicle. Then, look for any other features or history that may have an impact on the value of your vehicle.

Looking for sell your EV, Trade-in your EV to Carnex

We buy all kind of new or used electric vehicles. Get the best offer and the best price for your EV at Carnex today!

Sell Your EV

Consider the battery health of your used EV

The most significant consideration when selling an EV should be the battery health as well as the remaining range of your vehicle. When you have a full range, that should be the vehicle’s key selling feature. 

Make sure your battery is in good condition and has a range that shows a high degree of battery health, ideally within 90% of the maximum claimed range. In an ICE vehicle world, the odometer is a good predictor of past, present, and future performance. The odometer is a decent indicator of past, present, and future performance in an ICE vehicle. Consider that the auto industry has had 100 years of studying pistons and transmissions, so the aging process is predictable at this point. Electric cars are different. Aside from the lack of pistons and transmissions, an EV contains just roughly 20 moving components compared to 2,000 in an ICE car. Overall, the most significant component of an electric vehicle is the battery, which has a direct impact on your range today and in the future.

That is why it is vital to have a robust battery in order to optimize your trade-in or resale value. Traditional used car calculators do not take battery health into account, so you can emphasize this key factor to get the most out of selling your used EV.

General advice for selling your EV

While certain aspects of electric vehicles vary slightly, the general tips of selling used car apply to EV as well. These tips we provide here have been updated for you for sell your EV. 

Firstly, make sure to wash your car. A car wash is never harmful. Similar actions, such as getting rid of your old ice skates and vacuuming the inside, not only make your car look beautiful but also demonstrate that you have actively maintained and cared for it. Second, if you have completed scheduled maintenance, gather any previous maintenance invoices, and find out when you last rotated the tires. All of this will not only raise the value of your EV by keeping it in good shape, but will also benefit the possible buyer by relieving him of the trouble of maintaining the car himself after he gets it. Finally, gather all of your documentation. The buyer will need to verify your car’s specifications. If you purchased the vehicle new from a dealer, it is important to obtain all of your paperwork, including the title, registration, insurance, and sales records.

If you’ve been considering selling your EV, this might be a good moment to do so and get your money’s worth. Visit Carnex to sell your electric vehicle. Sell your Tesla Model X, Tesla Model S, Tesla Model Y, or Tesla Model 3 and receive an instant cash offer at Carnex.ca today!

We buy all kind of new or used electric vehicles. Get the best offer and the best price for your EV at Carnex today!

Learn more about the benefits of buying from Carnex. We believe that all clients deserve to know the good and bad of what they’re buying. Because we wanted to know these when we bought cars. That’s why at Carnex.ca, we will proudly display every detail every step of the way. Browse all the best cars, automobile buying tips, auto insurance, young drivers, driving techniques, auto industry trends from Carnex Blog.

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Who is Carnex?

Carnex is an online EV dealer built for Canadians to buy and sell electric vehicles. Our mission is to provide Canadians with an alternative and transparent way to buy and sell used electric vehicles and to accelerate the transition to a sustainable green future.

Carnex.ca is Canada’s first e-commerce platform for used Electric Vehicles. Carnex is the leading Online Car Dealership in Ontario, with the company’s headquarters located in Toronto, Ontario.
Carnex is the fastest and cheapest way to buy a car online. We deliver to your door and collect your old car without extra charges. Buy Now-Pay Later Financing is available.

Why buy from Carnex?

Carnex is trusted by over 18 million buyers to find amazing discounts on used EVs and new EVs in their neighbourhood. Carnex specializes in electric vehicles, and we make the effort to make sure your EV purchase from us will be worry-free. Our skilled EV technicians perform a comprehensive diagnostic on all of our electric vehicles at Carnex because your satisfaction is very important to us. Carnex.ca will help you find the best EV bargains among the listings across Canada, and we’ll provide you with the vehicle history and comprehensive reviews for each EV.

Why Choose Us

We choose to only sale quality and zero-accident used vehicles. We are so confident in our cars that we will shamelessly show you all the perfections and imperfections of the vehicle – from the Chasis pictures to chipped paint spots.

We also offer a 9-day no question asked return policy and an 100-day in house mechanical warranty to make your purchase risk-free.

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