We went down a rabbit hole at AutomotiveAddicts.com recently. We started shopping online for pre-owned EVs just to see what the market looked like. What we found surprised us. A lot of the electric cars we would actually consider are listed for about half, or just under half, of what they originally cost. That kind of depreciation feels extreme even by normal used-car standards, and it is quickly turning certain EVs into straight-up bargains.
The timing explains a lot of it. Over the last couple of years, EV lease deals got unusually aggressive in many parts of the U.S. Incentives and pricing strategies made it easy for shoppers to get into an electric vehicle with a low monthly payment, and plenty of people did exactly that. The catch is simple. Most leases run 24 to 36 months, which means a large wave of those vehicles is now reaching the end of their terms and cycling back into the market.
That cycle is already showing up in the listings. You can feel it just by browsing. There is more variety. There are more low-mileage examples. There are more “one-owner, off-lease” descriptions than you used to see. When a lot of similar vehicles return to the market in a short window, prices get pushed down, and buyers gain leverage. If this pace continues, the next year or two could look like a rolling flood of used EV inventory.
What makes this moment interesting is how dramatic the price drops have become compared to what you get. New EV pricing still sits high for many shoppers, and that sticker shock keeps people on the sidelines. But the used market is telling a different story. When you can buy a newer EV for half its original price, the value proposition shifts fast, especially if you have home charging or a commute that fits the range.
Some of the most tempting deals are the ones that were pricey when new but now sit in an entirely different bracket. The Kia EV6 GT is a perfect example of how the math can get wild. You can find them for close to half of their original price depending on miles and condition, and that is a vehicle that delivers serious performance. It is the kind of used buy where you get supercar-level acceleration in a daily-drivable package, without paying anything close to supercar money.
We also think the psychological side of EV ownership plays a role in these bargain prices. A lot of shoppers still worry about long-term battery life and out-of-warranty repair costs, even though real-world ownership data keeps getting better as the market matures. That hesitation holds demand back, and when demand stays cautious while supply grows, prices keep sliding.
If you have been waiting for an affordable entry point into an EV, this may be the window. We expect more off-lease inventory to keep landing on the market soon, and it would not be surprising to see pricing stay soft as supply builds. The smartest move is to shop carefully, focus on clean history and reasonable mileage, and treat this used EV moment like what it is. A rare chance to get a lot of tech and performance for less than anyone expected.
Darryl Taylor Dowe is a seasoned automotive professional with a proven track record of leading successful ventures and providing strategic consultation across the automotive industry. With years of hands-on experience in both business operations and market development, Darryl has played a key role in helping automotive brands grow and adapt in a rapidly evolving landscape. His insight and leadership have earned him recognition as a trusted expert, and his contributions to Automotive Addicts reflect his deep knowledge and passion for the business side of the car world.
