Electric car prices have dropped significantly, making it easier for individuals to purchase a used electric vehicle. The implementation of the Inflation Reduction Act (IRA) used EV tax credit has further reduced the cost of buying an electric car. With a budget of $15,000, there are several options available for lightly used EVs that fall within this price range. These cars are not old or high-mileage vehicles but may include 2022 model-year EVs with fewer than 20,000 miles, providing good value for money. Driving an electric vehicle has become more financially advantageous than choosing an internal combustion engine vehicle due to lower fueling and maintenance costs, making it affordable and convenient for many car buyers.
The 2019 to 2022 Chevy Bolt is a popular choice for those looking for a starter EV with solid range, decent performance, and impressive reliability. With a 66-kilowatt-hour battery pack and an EPA-rated range of 259 miles, the Bolt is a practical option for daily commutes. It also features a 200-horsepower front-mounted electric motor, providing quick acceleration. While the interior design may not be luxurious, the Bolt offers more real-world range than some more expensive EV options, making it a cost-effective choice for budget-conscious buyers.
The 2020 to 2022 Nissan Leaf underwent a significant redesign in 2018, making it look more like a traditional car. With the option of a 40 or 62-kilowatt-hour battery pack, offering between 215 to 226 miles of range, the Leaf provides a blend of practicality and efficiency. Although the interior design is simple, the Leaf’s affordability, especially with some low-mileage 2022 models available for under $15,000, makes it a compelling option for buyers looking for a reliable EV within their budget.
The 2020 Hyundai Ioniq EV is a compact commuter car that offers a respectable range of 170 miles with its 38.3kWh battery pack. While it may not stand out in terms of performance or features compared to other EVs, the Ioniq EV is an efficient electric hatchback that serves its purpose as a daily driver. Buyers looking for an affordable EV with basic amenities may find the Ioniq EV to be a suitable choice, especially if it is priced lower than other options like the Chevrolet Bolt.
The 2018 to 2019 Volkswagen e-Golf and 2017 BMW i3 are unique options on the list, with the e-Golf featuring air-cooled batteries and the i3 offering a rear-mounted electric motor and premium design features. While both models provide a decent range and power output, they may not offer the same level of modern amenities or performance as newer EVs. However, for buyers looking for a traditional hatchback design with electrified powertrains, the e-Golf and i3 could be appealing choices, especially if they are priced competitively within the $15,000 budget range.
Before purchasing a used EV, buyers should be aware of the $4,000 EV tax credit requirements, which include the car being at least two model years old, priced under $25,000, and not transferred after August 16, 2022. There are also income caps for eligible buyers to qualify for the tax credit. With the availability of affordable used EVs and the point-of-sale EV incentive, buyers can find solid deals on electric cars for as low as $10,000, making it a viable option for those in the market for a budget-friendly used vehicle.
