The used car market is a treasure trove for those looking to save money on their next vehicle purchase. With the depreciation of new cars hitting hard in the first few years, opting for a pre-owned vehicle can save you thousands of dollars. And when it comes to electric vehicles (EVs), the depreciation rates can be even more drastic.
Looking at the data, it’s clear that luxury EVs like the Audi Q8 e-tron, Jaguar I-Pace, and Tesla Model S have taken a massive hit in value over the past five years. These high-end models, known for their new and shiny appeal, have seen their prices drop by over 70%, making them a great option for budget-conscious buyers.
On the other hand, mainstream EVs from brands like Nissan, Toyota, and Honda have held their value much better. The Nissan Leaf (SV Plus), for example, has only depreciated by 64.1%, making it a solid choice for those looking for an affordable and reliable electric vehicle.
Tesla, once the darling of the EV market, has also seen a significant drop in demand for both new and used vehicles. The Tesla Model S, in particular, has experienced the biggest percentage price drop of all makes and models over the last twelve months. With an average price of $46,700 in June 2025, the Model S is nearly 16% cheaper than it was just a year ago.
If you’re in the market for a pre-loved EV, consider the top 10 fastest-depreciating models listed below:
1. Audi Q8 e-tron – 71.9% depreciation
2. Jaguar I-Pace – 72.2% depreciation
3. Tesla Model S – 62.9% depreciation
4. Nissan Leaf (SV Plus) – 64.1% depreciation
5. Tesla Model X – 58.8% depreciation
6. Mercedes EQS – 60.6% depreciation
7. Tesla Model Y – 47.2% depreciation
8. Hyundai Kona Electric – 57.6% depreciation
9. Tesla Model 3 – 46.3% depreciation
10. Porsche Taycan – 51.3% depreciation
It’s important to note that these values may vary depending on the market and availability. Be sure to check with your local dealers for more information on pricing and availability.
In conclusion, if you’re looking to score a great deal on a used EV, now might be the perfect time to start your search. With prices dropping and demand waning for certain models, you could find yourself behind the wheel of a high-quality electric vehicle at a fraction of the cost.
