These 10 Used EVs Have Exploded In Price Over The Past Year

If you've been eyeing a new electric vehicle (EV) as your next family car, it might be time to rethink your options. Although the price to purchase a used EV is generally trending down —one estimate foundthat from June 2022 to 2023, the average price of a used EV dropped by 30% — not all models are created equal,according to a report byiSeeCars.

The report analyzed more than 1.8 million 1- to 5-year-old used cars to calculate price increases in used EV sales. Even with the prices of EVs stabilizing and in some cases dropping (likeTeslaandFordmodels), premium models, which include the Nissan Frontier and the Chevrolet Suburban, have gone up in value from June 2022 to 2023. “Despite the market’s overall pricing trend, not all used cars are dropping in value,” the report says.

It’s important to note that the listed EVs in the report aren’t ranked by the most significant increases in real dollars. Instead, they’re listed as the largest price jump in terms of percentage of the overall cost of the vehicle.

For example, the Porsche 911 EV model only had the 4th most significant price increase since 2022. However, it’s the most expensive vehicle on the list, hitting an average price of $129,076 in June 2023 — much more expensive than the Fiat 500X model, which saw the 2nd largest percentage price increase during the same time but is only $22,041 on average.

Used EVs with the biggest price increase

1. Mercedes-Benz SL-Class, average price of $98,601, up by $12,352, or 14.3%, since June 2022
2. Fiat 500X, average price of $22,041, up by $1,336, or 6.5%, since June 2022
3. Chevrolet Suburban, average price of $53,554, up by $3,130, or 6.2%, since June 2022
4. Porsche 911 (Convertible), average price of $129,076, up by $6,194, or 5.0%, since June 2022
5. Porsche 718 Cayman, average price of $86,651, up by $3,906, or 4.7%, since June 2022
6. GMC Yukon, average price of $58,188, up by $2,569, or 4.6%, since June 2022
7. Nissan Frontier, average price of $30,097, up by $1,248, or 4.3%, since June 2022
8. Porsche 718 Boxster, average price of $83,182, up by $3,406, or 4.3%, since June 2022
9. Volkswagen Golf GTI, average price of $29,077, up by $1,110, or 4.0%, since June 2022
10. BMW 2 Series, average price of $37,110, up by $1,376, or 3.8%, since June 2022

Do any of these used EVs qualify for the Used Clean Vehicle Tax Credit?

For a vehicle to qualify for the Used Clean Vehicle Tax Credit — a federal tax credit you can apply to the purchase of used electric vehicle and which equals 30% of the sale price, up to a maximum credit of $4,000 — several conditions need to be met:

• a model year at least 2 years earlier than the calendar year you buy it
• a sale price of $25,000 or less
• not have already been transferred to a qualified buyer after August 16, 2022
• have a gross vehicle weight rating of less than 14,000 pounds
• be an eligible FCV or plug-in EV with a battery capacity of at least 7-kilowatt hours
• be for use primarily in the United States

None of the EVs listed above currently qualify for the Used Clean Vehicle Tax Credit. To check out a full list of the used EVs that qualify for the tax credit, check outthe listfrom the IRS directly.

And if you’re looking to super-save, you can check out the list ofused EVs that have dropped the most in average priceover the past year, too, many of which qualify for the Used Clean Vehicle Tax Credit.

To read the full report, head toiSeeCars.