Used electric premium cars: is now the best time to buy?

Large luxury EVs can lose more than half their value in five years: a cost for the first owner, an opportunity for the second.

According to the Premium Cars magazine, the least discussed trait of electric premium cars is neither range nor acceleration but depreciation. Citing US market data, large luxury EVs lose close to 60 percent of their value in five years on average, against roughly 40 percent for the market as a whole.

The drivers are rapid technological progress, price cuts on new models, uncertainty around battery life and waves of vehicles returning from lease at once. For the first owner this is a real cost; the second buyer can pick up a few-years-old, well-equipped premium EV for a fraction of the new price.

The article lists five things to check when buying a used electric premium car: an official battery state-of-health report, remaining factory battery warranty, service history and up-to-date software, charging habits, and the condition of tyres and suspension.