In the UK, the unique number plate system means that every vehicle's age is immediately recognisable. Twice a year, in March and September, the registration plates change, marking a clear divide in a vehicle's perceived age. This peculiar quirk leads to a surge in new car registrations just after each change, as buyers aim to secure a vehicle that appears younger. For those looking to sell, the day before a plate change can make their car seem up to six months older, while those buying just after the change benefit from a vehicle that looks six months newer, regardless of its actual registration date.
Electric vehicle (EV) registrations in the UK have seen a significant surge from 2020 onwards, as the country began to embrace greener transportation options more rapidly. The growth has been spurred by increasing consumer awareness, government incentives, and a wider range of EV models becoming available. This means that the years between 2020 and 2023 represent a period of substantial growth for EV ownership in the UK, with more EVs hitting the roads than ever before.
As we reported just over a year ago, the average price of second hand EVs seems to continue to drop by close to 20% year on year. In the year 2020, that meant very little, but it will have much more significance next month. In the last two years alone, global shipments of EVs have jumped by 70%.
As we approach the September '74' plate change, the UK's used car market is likely to see an influx of second-hand EVs registered during these surge years. With basic economic principles at play, the increased supply of these vehicles is expected to lead to competitive pricing. As a result, potential buyers may find significant bargains on EVs that are only a few years old, making this September an opportune time to explore the forecourts of the UK's largest used car dealerships for well-priced, nearly new electric vehicles. We've taken a look around the web to see what kind of bargains might be available.
Bargain Basement
Even a couple of years ago, the idea that someone's first car might be electric was hard to imagine. Traditionally, across the country, thousands of youngsters spend hours pouring over web sites offering products like the Daewoo Matiz, Ford Ka or Toyota Yaris. But there were scant few choices for battery powered vehicles. That has now changed with EVs like the Mitsubishi I-MiEV and its 93 mile range appearing for £1,995. The early Renault Zoe with battery lease starts around £2,495 and the perennial favourite that the Nissan Leaf also at £2,499 with a claimed range of 109 miles.
Sensible EV-ing
Open the price range up to £10,000 and you get a lot more choice. Given the average UK car price of just under £25,000 before lockdown, depreciation and ‘2 careful owners' would have put many of the UK's most popular petrol cars into this zone, but what are the choices for those looking to move to an EV – maybe as a result of being in the extended ULEZ zone? Well, a low mileage Vauxhall Corsa-e comes into play at £10,000 with a claimed range of 209 miles. Move practicality out of the way and you can opt for a really low mileage Smart ForTwo, complete with reversing camera, panoramic sunroof and huge 17kWh battery – also for £10,000. Finally there are some Hyundai Ioniqs, with the older design, also sitting around the £10,000 price point. This comes with SatNav, air-con and alloy wheels or – as we used to say – ‘fully loaded'. Claimed range is a decent 193 miles.
Adding a Touch of EV Class
If your budget stretches to £20,000, then a much higher-end EV is now available. For a couple of years, the Jaguar i-Pace was one of the most desirable electric vehicles on the market with a launch price of more than £65,000. The only difference between those launch vehicles and the i-Pace you can get now for £20,000, is mileage. Despite its weight, it has a claimed range of 278 miles and can hit 60 in less than 5 seconds. In terms of luxury, build quality and overall presence, a budget of £20,000 could also put you into an Audi e-Tron 50 Sport with a 71kWh battery. While the Audi offers a similar look and feel in terms of driving comfort, it is 1.8 seconds slower to 60 and the range tops out near 196 miles. For a more futuristic design, newer number plate and only 27,600 miles, you could also get a VW ID.4 in flat grey.
Appreciating the Big Depreciators
Always fancied a Porsche that can hit 0-60 in 4 seconds with a top speed of 155mph, but with fewer parts to go wrong and the ability to be refuelled overnight, at home, for cheap? The Taycan Performance Plus models seem to start around £39,000 with a claimed range of 288 miles. The Mercedes EQE should get you to 60 in less than 7 seconds on it sway to nearly 130-mph, offers a maximum claimed range of 382 miles and the driver's side experience has more LEDs than your average TV shop. That said, these cars are a shade under £70,000 new – but can be had second hand for £40,000 with only 12,500 miles on the clock. At the extreme end of the EV price spectrum, if you're willing to accept 400 miles on the clock, then you can save up to £80,000 on a Rolls Royce Spectre. As well as a claimed range of 323 miles, acceleration to 60 in just over 4 seconds with a kerb weight of 3 tons – this beast of a motor apparently has a Rolls Royce warranty until 2028. Bargain.
Tempting Teslas
The brand that started it all is, finally, available second hand at sensible prices. We spoke with Tesla at the last Everything Electric show and asked about their much rumoured £25,000 EV. The chap we spoke with smiled, told us that it was already “Here at the show”, before pointing to a second hand Model 3. Oh how we laughed. But th reality is that you can pick up a '20' plate Model 3 with 39,000 miles on the clock for just over £17,000. The stunning Model X was one of our favourite EVs of all time, but with a huge price tag at launch. It was not unusual to see these leaving the forecourt specc-ed at over £100,000 and the basic models were around £82,000. Now you can get a Model X 75D with a 2018 plate and 44,000 miles on the clock for just over £26,900. Choose the latest Model Y and you will get a 72 reg with 29,000 miles for around £29,900. The new price on those is around £44,000, so that's a decent saving.
Used EV Pricing Overall
We're well and truly into the second generation of EVs. The early pioneers from Renault and Nissan struggled with range and their early adopting drivers were often ridiculed. But they were true pioneers. The ‘second gen' electric vehicles, which have been selling in big volume over the past 4 years, now have sensible specs and – with the increased production levels – depreciation characteristics that made used EVs much more attractive. As new battery technologies come into play – with a much larger network of rapid chargers across the country – so the need for large batteries will drop off and ‘new pricing' will similarly fall. That will put downward pressure on the second hand market – moving us quickly away from polluting fossil fuelled vehicles.
Each of the cars that we have featured was available at the time we pressed ‘publish' and we've linked to examples where possible. Some will be sold, others will be added.
Overall, you could argue that the bargain might be something like a 72 plate MG4 with only 10,000 miles on the clock and a price tag of £15,000 – but it's all a case of horses for courses. If you have found yourself in/regularly needing to use a ULEZ zone, then these bargains could help make your transition easier. The cost of EV motoring is already quite low – even if you need to use public chargers. If you're able to charge at home/work for less than 10p/kW, then the economic argument is very strong. All you need now is a charger.
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