If you're shopping around for electric vehicles, you probably have some questions. At Hall Nissan Virginia Beach, our expert dealers are ready to answer all of them. We can even tell you more about how electric cars depreciate.
All vehicles begin to depreciate, or decline in value, once they leave a dealership. That's just an unavoidable fact.
Some drivers want to know if the rate of depreciation changes when they go green though. Do electric vehicles hold their value a bit better? Here's what you need to know before you buy.
Electric Car Depreciation
Unfortunately, EVs do tend to depreciate at roughly the same rate as a traditional, gasoline-powered car. If there's a difference between comparable models, it's usually that the electric car depreciates even faster than the vehicle that uses a combustion engine.
There are a few reasons for this. One issue is that many drivers who want to buy an EV tend to be drivers who want the latest bells and whistles in their vehicle. They're the “early adopter” type, so they're more likely to want a brand-new vehicle over a used one, even if their main criteria is all-electric power.
Tax rebates and other incentives can also make people more likely to purchase a new EV. You can get a federal tax rebate of $7,500 when you buy a new electric car. You get no such rebate when you buy a pre-owned one.
Our Electric Nissan Lineup
Still, there are many good reasons to purchase an electric vehicle, even if its resale value won't necessarily exceed the average in the next few years. Visit our Nissan dealers near Norfolk, VA and learn more about EVs like the Nissan Leaf. We look forward to seeing you!