Report: Late-Model Plug-ins Are New Best Deals
Plug-in car sales are heating up in one surprising segment, according to a new study by iSeeCars.com: newly used cars. It seems that electric cars and plug-in hybrids that are only 1 to 3 years old are some of the hottest deals on the market.
To be more specific, the average price of very-late-model EVs has dropped $3,830 year-over-year, where gas vehicles in the same time period have only dropped an average of $242.
So, from where comes this flood of lower-priced plug-ins? It seems that they are often coming from leases at dealerships. In order to introduce customers to the new technology, automakers have started to offer increasingly strong lease incentives, creating a sort of trial period for unsure consumers.
According to iSeeCars.com, some of these cars can cost less than half their original MSRP, leading to half of the 10 fastest-selling cars to be hybrids, plug-ins, or electric vehicles. Add to that other benefits to buying hybrids, such as the HOV green stickers that allow solo drivers to have HOV access until 2019, and you have one of the best times to buy a slightly used plug-in.
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“Consumers who are ready to take the leap into a hybrid, plug-in or full EV have a great opportunity to get one at a price that is more affordable than ever,” Phong Ly, CEO of iSeeCars.com said. “But they may face challenges finding the model they want due to lower availability.”
News Source: Chicago Tribune