Open Today. Sales: 9 AM-7 PMOpen Today. Service: 7 AM-6 PM
Porsche San Diego
Porsche drivers love their high-performance vehicles, whether they favor a sleek Porsche 911 for cruising Chula Vista streets or a Macan SUV for a family-friendly ride. If you’re interested in your next new vehicle from us, have you thought about an EV (electric vehicle)? If you have and you’re still concerned about an electric car’s resale value, we can help put your mind at ease.
Our guide will discuss how range affects EV resale value and what can increase electric vehicle resale value. After learning about electric car resale value and deciding that an EV is right for your lifestyle, we would love to see you drive away with one of our new Porsche models to your La Jolla garage!
Certainly, the range does affect EV resale value. You’ll find that many EVs on the market right now get a range of 250 to 300 miles. And their resale values versus lower-range models reflect that because drivers want models that allow them to handle longer drivers on weekend getaways and summer road trips. Thanks to public charging stations on major routes throughout the United States, drivers in Carlsbad won’t need to worry about range anxiety wherever they drive!
So, the range does affect EV resale value in a positive way when the range is 250 miles or higher.
Research shows that ten miles of range increase the resale price of EVs by approximately 5%. And, after just two years of ownership, an EV with a range of 100 miles has a resale value of 67%. So a pre-owned EV worth $50,000 and 250 miles of range would be worth approximately $64,000 if that same EV had a range of 300 miles!
All EV batteries for American cars have a warranty of at least eight years or 100,000 miles, whichever comes first. But they could last longer when properly cared for. EV Connect states that some batteries could have a life of 200,000 miles when maintained according to manufacturer specifications.
Several things can increase an electric vehicle’s resale value. Depreciation always comes into play, no matter what kind of vehicle you own. CNBC notes that EVs keep 63% of their value after three years versus 66% for gasoline-powered vehicles. The difference between the two is negligible by comparison.
We cannot stress following the right maintenance program enough. Proper maintenance can also increase electric vehicle resale value, just like with gasoline-powered vehicles. Make sure to rotate the tires every 5,000 to 7,500 miles because EVs typically see more tire wear. The batteries make the vehicle heavier versus similarly sized internal combustion engines.
Even factoring in the higher weight and more tire wear, EVs cost 40% less to maintain than gasoline-powered vehicles, according to Yale University. Get ready to save plenty of money on maintenance while making sure your resale value stays as high as possible.
Think about lower refueling costs, too. Gas prices aren’t going down anytime soon in San Diego. Consumer Reports states that EV owners spend 60% less to refuel compared to gasoline. An electric car’s resale value might increase due to its popularity in places with high gas prices. Popular vehicles will see a higher resale value.
Ready to explore EV ownership? Contact us or call to schedule a test drive with our team. If you’re not ready for a full EV in the Taycan, think about a Cayenne E-Hybrid or a Panamera E-Hybrid for your San Diego drives!
