Here are a few things to keep in mind when buying electric vehicles in the used car market.
View PhotosEVs are likely to be be lesser in number in the used car market, compared to ICE vehicles
Electric vehicles have been on sale in India for a few years now and yes, buying a new electric vehicle, may prove to be an expensive proposition for many. But, the good news is that there are quite a few electric vehicles listed in the used car market and it definitely doesn’t hurt to delve in and buy a used model of an EV. We suggest you keep these things in mind when looking to buy a used EV and make the most of it.
Fewer Models
(Tata Tigor EV)
Finding a good example of a used EV is going to be tougher than finding an ICE car. Primarily because of the massive difference in the number of EVs sold when compared to the number of ICE vehicles. But at the same time, it can be boon in disguise because there will be a lot less hassle when it comes to choosing the right model, because there will be less number of models to choose from.
Low Cost Of Running
(The cost of running for EVs is less than petrol or diesel powered vehicles)
Even with the EV infrastructure not up to the mark in India, an EV does cost significantly less than a car with a petrol or a diesel engine. There are lesser moving parts and with the ever-increasing rates of petrol and diesel, it is easier to charge an EV fully and keep it running, especially within the city. Even though most of India’s electricity comes from thermal powerplants, which use a lot of coal, an EV, with zero tailpipe emissions, is much more environment friendly than a regular petrol or diesel car and offers significantly lower cost of running.
Quicker Depreciation & Lower Resale Value
(Hyundai Kona EV)
Yes, electric vehicles, unlike regular petrol or diesel-powered vehicles depreciate in value much quicker, which means, you are likely to get a better deal on an EV than on ICE cars. So that is something that can work to your advantage when looking for a used electric vehicle. Similarly,
Performance
(There are a lot less EVs in the used car market than ICE vehicles)
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Most EVs in the market today offer performance which is either equivalent to ICE cars or maybe even better, barring range of course. EVs are quieter, have a smooth drive and most of them have an automatic gearbox which means they are easier to drive in the city. Plus, the fact that most EVs offer all the torque right from the word go, is yet another advantage.
Battery Warranty & Documents
(The 2020 MG ZS EV gets a range of 340 km (ARAI-claimed)
It is important to ensure that the battery on the EV that you plan to buy in the used car market is under warranty. Because that is the part which sees maximum degradation over time. When you buy an EV, just like with any other car, ask for service history and other related documents of the car like registration certificate, insurance, NOC letter in case of a loan transfer and so on.
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