Owning an electric vehicle is one of the best ways to avoid high gas prices and keep planet-heating pollution out of your life. But after enjoying your EV for a while, it might be time to upgrade to a new model or trade it in because you no longer need a vehicle.
Selling your old electric vehicle is similar to selling any used automobile. However, EV experts can help you sell your EV for more money.
The software engineers and battery scientists at Recurrent shared their tips for maximizing your EV's resale value.
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Their first tip is to start with a baseline estimate using a trade-in calculator, such as Kelley Blue Book or Consumer Reports. These calculators were designed to assess the value of gas cars, so they might not be as accurate for EVs. However, they're still a useful starting point.
The experts' next tip is to connect the EV to Recurrent to demonstrate its battery power to potential sellers. The platform assesses and compares your EV's range to similar models. Meanwhile, Tesla has a battery history feature to estimate battery health — a crucial factor when shopping for an EV.
It's also helpful to understand current EV pricing trends to know how much to expect for your trade-in value. Recurrent publishes a quarterly report that tracks EV values.
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When dealerships compete for your car, you can often get more money for your old EV. Recurrent solicits offers from multiple potential buyers, including large national dealerships and small EV specialists.
But as the experts point out, some car-selling tips matter regardless of whether you have an EV or a traditional gas car. These include cleaning your car to prepare for a sale, keeping up with regular maintenance, and organizing your title, registration, insurance, and other paperwork.
The used EV market is quickly growing worldwide, so now might be the perfect time to sell your electric vehicle. As technology advances and range performance improves, EV prices fluctuate significantly.
Yet selling an old EV can be very profitable, especially when you use Recurrent's free service, which connects sellers with a network of dealers. The company is helping EV sellers make an average of $1,400 more from their sales.
Meanwhile, Recurrent helps you maximize the value by monitoring battery health at no cost.
Recurrent expert Jeremy Levine shared, "While I can't promise that every sales process will be painless, I know that these steps will make you a more prepared and informed seller. And that tends to make everything a bit better."
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