Gas prices breaking your bank account? A used electric vehicle might be a good choice, but they can be hard to find. Here’s some tips and tricks to help, including a “green” financing option.
Volatile gasoline prices are taking big chunks out of consumer budgets. Many people are wondering if it’s time to buy an electric vehicle, but the prices of new vehicles are sometimes out of reach. A used EV might be a good option, especially as the market expands. According to the website Green Cars, as many as 300,000 used EVs may hit the market in 2026 as lease-holders return cars purchased before the end of a federal tax credit in September, 2025.
Finding and buying are different
Buying a used EV is significantly different than buying a conventional pre-owned vehicle. (See my last blog post on the subject, which gets into the details.) One of the main challenges is actually locating a good used EV. Though they have a lot of visibility, there still aren’t that many on the road, and even fewer for sale. Only about two percent of cars these days are electric, although the share of sales for new EVs is growing.
👉Keep reading for a tip on EV financing!
Ask your friends and family
But there’s effective and efficient ways to find a pre-owned electric in your area. You can start by simply asking friends and relatives if they know of an EV car for sale. You might be surprised at the answer. General purpose online bazaars, such as Craigslist and Facebook Marketplace, can connect you with individual sellers in your city, even neighborhood. (Always observe safety rules when meeting strangers for financial transactions.)
Cruise dealer lots
Another strategy: Cruise dealer lots for used vehicles. Almost every new car dealer has a lot with trade-ins, and at least some of these are electric. The dealer might also certify the vehicle, meaning it has passed a basic safety and mechanical inspection. If so, ask to see the report, especially on the battery health. The dealer may also offer a short-term warranty in addition to the mandated 100,000, eight-year federal warranty on the battery.
Online research and marketplaces
If you’re a total data nerd like me, visit a website such as Recurrent, which compiles information about EVs that you can use to evaluate an auto that interests you. According to the site, its team studies dozens of data points, such as battery age and charging patterns, that go into charts and explanations on specific models. The site’s “For Shoppers” feature shows a good selection of EVs sorted by range, charging times, and efficiency.
If you’re ready to buy, you have a huge number of online marketplaces to surf. Edmunds.com, CarGurus and Carvana are three of the best-known marketplaces for all types of light-duty trucks and passenger cars, including conventional, gas-powered vehicles. Then there’s the EV specialists. Here’s a list of the most popular:
- https://myev.com/ (EV Marketplace)
- https://www.evercars.com/ (EV Marketplace)
- https://www.findmyelectric.com/ (EV Marketplace)
- https://recharged.com/ (EV Marketplace for certified electrics)
- https://plugmotors.com/ (Marketplace EV-only auction)
- https://ev-cpo.com/ (Tesla only)
Financial tip: A “green” loan
You’ve done your due diligence, found the EV that works for you, but you don’t have enough cash to buy it outright. The solution might be a “green” loan. These are standard car loans with a twist: special terms for clean vehicles. Community banks and credit unions offer these with finance rates up to a full percentage point lower than a loan for a conventional used car. That can save you hundreds, perhaps thousands of dollars, over the life of the loan. Be sure to check the fine print; Only certain makes and models may qualify, or there could be mileage or age limits, or you may be asked to automate (autopay) your monthly payment.
Take your time, do your research, and build your confidence before accepting the keys to your used electric vehicle. I can promise you that you’ll never go back!
Tell us about your experience buying a new or used EV.
Image by Paul Brennan from Pixabay
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