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Used Electric Cars are Cheaper than Gasoline Cars

Published February 21, 2026, 09:18
Used Electric Cars are Cheaper than Gasoline Cars

A study by the University of Michigan shows that used electric vehicles are cheaper than comparable gasoline cars, making them an attractive option for consumers. The study examined various vehicle categories and charging strategies, concluding that used electric cars have the lowest total cost of ownership. Although new electric cars are more expensive, their value depreciates faster than conventional cars. European research confirms the same conclusions, predicting that the cost of ownership of used electric cars will remain lower in the future. The price drop is due to the increasing supply, lower operating costs, and improved battery life.