Electric Vehicle Resale Value Guide

 

Early adopters of electric vehicles are rejoining the market, looking to trade or sell their vehicles to upgrade to a new EV. But, since electric vehicle technology has evolved so quickly in the last decade of car manufacturing, many EV owners have questions like, “How do car dealerships and private buyers calculate electric car resale values?” and, “Does range affect EV resale values, and, if so, what can increase electric vehicle resale values to compensate?”

To help Corona drivers understand electric car resale values, BMW of Murrieta has put together this brief guide on the main factors that determine how much your EV is worth. Learn everything there is to know about current EV resale values with the experts at BMW of Murrieta.

Does Range Affect EV Resale Value?

Does range affect EV resale value? While normal factors such as age, condition, and mileage are important to your electric car’s resale value, one of the most important specifications that interested buyers check is range. When looking for a pre-owned EV, most prospective buyers prefer an electric model with a long electric range, like the BMW i4, that offers enough electric mileage to power their commutes through Riverside or weekend trips out of town. The lower the electric range, the lower the resale value will be, with the additional downside of having a smaller market of interested drivers. 

What Can Increase Electric Vehicle Resale Value?

Since you may be unable to control how much range your EV has, what can increase your electric vehicle resale value to compensate? There are a few other factors that impact your electric car resale value, such as:

• Battery Health: All EV batteries are covered by an eight-year/100,000-mile warranty. If your vehicle is within this limit or you’ve recently replaced your EV battery, you’ll likely enjoy a higher resale value.
• Luxury Features: Electric vehicles are often outfitted with the latest technology, from wireless smartphone integration to voice-controlled navigation. The more luxury features your vehicle has in working condition, the higher the resale value will be.
• Brand Recognition: Popularity is just as important as the actual specifications of your EV. If you own a car from a well-known brand such as BMW, you’ll have an easier time selling your electric model around Ontario than if it were a lesser-known brand, like Genesis.

Get an Estimate on Your Electric Car Resale Value at BMW of Murrieta!

Now that you know more about the effect of range and condition on your electric model’s resale value, you’re ready to start the trade-in process at BMW of Murrieta! Estimate your EV’s trade-in value online, and then contact our team to make an appointment at our Murrieta location. Our team ensures you’ll receive top-dollar for your used EV so you can hit the roads with the latest electric innovations from BMW!

 

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