The plethora of new and forthcoming electric vehicles is stirring up interest among prospective shoppers, but even as the list of battery-powered cars, trucks and SUVs rapidly expands, their higher prices pose a significant barrier to ownership. Additionally, EVs aren’t immune to the inventory constraints and limited availability plaguing the industry.
One way to navigate both roadblocks is to consider buying a used EV. For added peace of mind, most EVs can come with a certified pre-owned designation, offering the same perks as gas-powered CPO cars: a multipoint inspection, warranty coverage, roadside assistance and special financing rates.
Related: What to Know Before Buying a Used Electric Car
Buying a used EV isn’t a foolproof solution, however. As with any pre-owned car, there are uncertainties that can be amplified when buying used (especially for first-time EV owners), such as driving range degradation and battery warranties. A CPO certification can boost confidence in the purchase, but it also boosts a used car’s price tag and may not be necessary for every used EV.
Before moving forward with a certified used EV, shoppers should compare CPO programs — specifically the warranty coverage, inspection items and finance rates — then evaluate if the benefits are worth the premium over a non-certified vehicle.