Why You Should Consider Buying an Affordable Used EV
The 2023 average transaction price (ATP) in March for all new cars was $48,000, according to KBB.
This ATP average includes luxury, gas, and electric vehicles. Even a new Toyota Camry will start in the neighborhood of $40,000+, and a Model 3 can be cheaper in some places in California.
However, many car buyers are searching for lower prices – sub $20,000 or $15,000 – and an affordable used electric vehicle (EV) might be the answer.
The good news is used car prices have been trending downward since 2022. Cox Automotive says prices are down 4.4% from April 2022, and the company reported a 3% decline in prices in April 2023.