The used electric car business is currently a bit difficult. What is currently happening here is sometimes chaotic and has multiple causes that always lead to the same result. Prices will fall. If you look at it soberly, without the euphoria of some and the skepticism of others, used electric cars are just cars. Their price structure is currently being shaken up.
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Stefan Moeller describes how the current market situation came about. He is the managing director of the electric car rental company Nextmove, which buys and sells some of the fleet vehicles instead of leasing them: “In 2022, the general buying mood was very good and the supply was limited by the chip crisis.” The result was an exaggeration of prices, which was further fueled by government funding – the so-called environmental bonus. “From 2019 to 2022, the number of new cars rose continuously, and returns from many leasing contracts are now pushing into the used market,” says Moeller.
Distortion due to environmental bonus
The idea of calculating purchase support of up to 9,570 euros as a down payment for the leasing and choosing the minimum term of 24 months specified by the state was popular. It was politically formulated and intended in such a way that many cheap electric used cars were available as a result. What politicians probably did not plan for was the current economic and purchasing power crisis. The mood has changed. Many people are cautious and cautious when purchasing a car, whether new or used, whether electric or with a combustion engine. This is particularly the case with private customers. The consequence is simple: “Prices fall to the point where the market starts up again,” summarizes Moeller. Translated: The market regulates it.
Advances in range and charging performance
To describe reality, two factors have a negative impact on the residual value of electric cars. Firstly, the progress is obvious. The ranges and charging capacities are increasing. A used Hyundai Ioniq 5 is much more expensive than an early Nissan Leaf. But it represents a different era of driving with electricity that is suitable for long distances. Secondly, there is still a great deal of mistrust regarding the durability of traction batteries. It will take time for trust to grow, and this requires reputable certificates for this State Of Health (SOH), i.e. the energy content in percentage points compared to the new battery, can make a fundamental contribution.
SOH certificates from Aviloo or Twaice
Mobile.de, one of the largest portals for used cars, is cooperating with Hyundai in a pilot project. Based on Aviloo's battery test, Hyundai dealers place used electric cars with a certificate online. The other relevant certificate provider is Twaice. Aviloo works with TÜV Süd, among others, and Twaice with TÜV Rheinland (“Battery Quick Check”).
According to mobile.de, the most popular used electric cars in terms of the number of search queries are currently the Kia EV6, the Porsche Taycan and the Tesla Model Y. In the quick search mask on mobile.de, for example, you can tick “only electric cars”. . There are further options in the detailed search filter: If you click on electric under the fuel type, you will be given options for the range, the AC and DC side charging time or the energy content of the traction battery in kilowatt hours. For mobile.de, this filter is the starting point for gaining experience and making improvements. According to the company's own information, access rates have increased significantly since its introduction.
SOH certificate: security for buyers and sellers
Ideally, in the future, interested parties could not only see that a certificate for the SOH exists, but also what percentage it shows: Is 93, 84 or 71 percent of the original energy content available? It is clear that an SOH certificate is an advantage not only for buyers, but also for sellers. Ultimately, defects in individual cells can also be identified, which greatly reduce the performance of the entire system. For dealers, a certificate provides proof that this was not the case before the sale. The current situation is characterized by fear of battery wear, especially among private customers. There is a lack of experience with used electric cars, so many interested parties take refuge in leasing. Try it out, yes, but please do not experiment.
Basic laws of buying used
Given that prices are difficult to calculate, this in turn means an economic risk for the lessor: who will pay the bill if the residual values were set too high? In many cases, it is the car manufacturer who will ultimately get the money back from the customer. For those interested, the same buying laws for electric cars apply with an exclamation mark. Turn on your mind and note that electric cars, just like those with combustion engines, consist of more than just the traction battery. Are all functions working properly? How much wear is on tires and brakes? How is it cared for – are there any rust spots? Comparing prices remains important. It's worth looking at what alternative electric cars cost, and of course everyone should check what new cars are worth buying or leasing. The distance must be large enough.
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(mfz)