Edmunds: Here's what to buy as used EV prices continue to drop

Now is a great time to purchase a used electric vehicle. The average price for a used EV has dropped about 20% compared to this time last year, according to Edmunds transaction data . To top it off, you can qualify for a federal tax credit of up to $4,000 if you purchase an EV for $25,000 or less.

To help with your search, Edmunds’ car experts have rounded up five of their favorite used EVs. The average prices below are what you can expect to pay at a nationwide no-haggle dealership such as CarMax or Carvana. Chevrolet Bolt EV The Chevrolet Bolt EV could be a great choice if you’re searching for an inexpensive used EV.

Older Bolts can be quite affordable, especially if you get one that qualifies for the $4,000 tax credit. Chevy produced the Bolt through 2023. The Bolt EV boasts a spacious cabin and an EPA-estimated driving range of 259 miles, which is quite good for an older EV.

On the downside, the Bolt can’t charge very fast at public fast-charging stations. Look for: Bolts from 2022 and 2023 received fresh styling and improved tech features. There’s also a SUV model called the Bolt EUV that was available from 2022 to 2023.

2017-2022 models have a battery recall, so make sure it’s been addressed in the one you’re interested in. 2017-2023 pricing: approximately $15,000 to $25,000 Hyundai Ioniq 5 The Ioniq 5 isn’t an average-looking SUV; it almost resembles a futuristic Volkswagen GTI with its sporty retro-modern look. But it still performs SUV duties thanks to .