Advice
Valuations: How much is my electric car worth?
Here's how you can keep track of electric car prices, and get the best deal whether buying or selling.
Words by: Andrew Woodhouse
Published on 24 August 2023 | 0 min read
Whether you’re buying, selling, or just trying to make sense of the market, valuations are the best way to establish how much a car is worth.
Auto Trader valuations are powered by data from millions of vehicles, meaning you get an accurate, up-to-date valuation. It’s completely free and can be done online in minutes. But what about electric cars? How do they hold their value compared to petrol or diesels? And what can you do to get the best price when it’s time to sell? Let’s take a look.
Auto Trader valuations are powered by data from millions of vehicles, meaning you get an accurate, up-to-date valuation. It’s completely free and can be done online in minutes. But what about electric cars? How do they hold their value compared to petrol or diesels? And what can you do to get the best price when it’s time to sell? Let’s take a look.
Get a free electric car valuation
To find out how much your electric car is worth, simply add the licence plate number and mileage – we’ll give you a free valuation in seconds that tells you how much the car is worth today.
Depreciation in electric cars: how do they hold their value?
All cars experience depreciation, which is the decline in value that occurs as a vehicle ages and accumulates mileage.
Depreciation in electric cars can be affected by demand, by rapid advancements in technology, and by the changing landscape of the automotive industry. Some of the key areas to keep in mind include: Battery degradation, which eventually leads to reduced range and performance. Buyers are often concerned about the longevity and health of the battery, so taking good care of your car and its battery should help it fetch a better price when it’s time to sell. You can learn about battery health checks here. Electric cars are evolving quickly, and new models boast bigger batteries, longer ranges and enhanced features. As newer models hit the market, older cars can quickly lose value due to their outdated technology. But there is a growing market for pre-loved electric cars. The charging infrastructure, and your car’s compatibility with popular chargers in your area. (Learn more about public charging here, and find charging points near you here). Outside of this, older electric models with slower charging capabilities might depreciate faster if they are not compatible with the latest charging standards and modern infrastructure.
Depreciation in electric cars can be affected by demand, by rapid advancements in technology, and by the changing landscape of the automotive industry. Some of the key areas to keep in mind include: Battery degradation, which eventually leads to reduced range and performance. Buyers are often concerned about the longevity and health of the battery, so taking good care of your car and its battery should help it fetch a better price when it’s time to sell. You can learn about battery health checks here. Electric cars are evolving quickly, and new models boast bigger batteries, longer ranges and enhanced features. As newer models hit the market, older cars can quickly lose value due to their outdated technology. But there is a growing market for pre-loved electric cars. The charging infrastructure, and your car’s compatibility with popular chargers in your area. (Learn more about public charging here, and find charging points near you here). Outside of this, older electric models with slower charging capabilities might depreciate faster if they are not compatible with the latest charging standards and modern infrastructure.
Factors affecting electric car value
Apart from depreciation, several factors influence the valuation of electric cars and contribute to either an increase or decrease in their value.
Things that can decrease an electric cars value:
• Significant wear and tear. There’s some leeway for minor damage, like small stains or scratches, but any significant damage is likely to reduce the value of the car.
• Broken parts, including seat warmers and electric windows. In an electric car, you’ll need to also check the charging cable and port still work. • The state of the battery plays a crucial role in an electric car’s value. Well-maintained batteries with minimal degradation can fetch a higher resale value. • Chances are you’ll be one of the first drivers of your electric car, but lots of previous owners can reduce the resale value. • Gaps in service history, or a missing MOT can reduce the value. Our valuations assume a car is in good working order, but the papers to prove it will help it sell. • Just like petrol or diesel cars, mileage affects an electric car's value. Lower mileage typically results in a higher resale value.
• Broken parts, including seat warmers and electric windows. In an electric car, you’ll need to also check the charging cable and port still work. • The state of the battery plays a crucial role in an electric car’s value. Well-maintained batteries with minimal degradation can fetch a higher resale value. • Chances are you’ll be one of the first drivers of your electric car, but lots of previous owners can reduce the resale value. • Gaps in service history, or a missing MOT can reduce the value. Our valuations assume a car is in good working order, but the papers to prove it will help it sell. • Just like petrol or diesel cars, mileage affects an electric car's value. Lower mileage typically results in a higher resale value.
Things that can increase an electric cars value:
• Of course, the opposite of the above should have a positive impact: a well-maintained car with a full service history should fetch a better price.
• Well-maintained interiors and exteriors can contribute to a positive impression, enhancing the car's resale value. • Electric cars with active warranties, especially on the battery, tend to have higher resale values as they provide buyers with a sense of security. • The overall demand for electric cars in the market plays a significant role in determining their value. Factors such as fuel prices and environmental consciousness can impact demand and drive prices up. • Regional and government regulations, like the ULEZ expansion, can impact demand and impact prices in certain areas around the UK. • Cars with additional features like advanced infotainment systems, premium interior options, and higher-spec tech can enhance the value of an electric car.
• Well-maintained interiors and exteriors can contribute to a positive impression, enhancing the car's resale value. • Electric cars with active warranties, especially on the battery, tend to have higher resale values as they provide buyers with a sense of security. • The overall demand for electric cars in the market plays a significant role in determining their value. Factors such as fuel prices and environmental consciousness can impact demand and drive prices up. • Regional and government regulations, like the ULEZ expansion, can impact demand and impact prices in certain areas around the UK. • Cars with additional features like advanced infotainment systems, premium interior options, and higher-spec tech can enhance the value of an electric car.
As the electric vehicle landscape continues to evolve, staying informed about these factors will be essential for making good decisions regarding buying, selling, or holding onto an electric car.