Electric vehicles have only really been a major part of the public consciousness for about 12 years from the launch of the Tesla Model S and Nissan Leaf. As these machines age they are starting to get pretty dang cheap. If you’re looking for something electric to add to your stable to make your commute gasoline-free and much less expensive, you might want to pick up one of the kings of depreciation. Kyle from Out of Spec went out and bought a bunch of cheap EVs and has been testing them in the real world.
Should you get a Nissan Leaf, early Tesla Model S, Mitsubishi i-MiEV, Mercedes B-class, or Volkswagen E-Golf? And what do you need to know if you do?
Owning a car in 2024 is hardly an inexpensive proposition, as prices continue rising among both new and used machines. These older EVs are cheap for a reason, but if you can make them work for your particular use case, you might be able to save some cash. For a couple of years I had an old Nissan Leaf as a third vehicle that we could use for around-town running and it was a no-brainer because I bought it for a whopping $2,000. If you can find a similar deal, I can’t recommend it enough.
You’ll definitely want to watch this video to learn a bit more about buying cheap EVs, but the cliff’s notes can boil down to the same conclusion I had. If you can get away with a daily commute under 30 miles or so, you should absolutely buy an old Nissan Leaf with the best preserved battery you can find. You should also look into whether you can qualify for the electric vehicle tax credit, because that could help you get a cheap EV for even cheaper.
Armed with this information, will you be seeking out a sub-$5,000 electric vehicle? Which one?