Here’s one more reason to go electric: it’s not good only for the planet and for your pocket in terms of expenses, but it may also land you more money if you consider reselling the car after a while.
At least, that’s how things stand now, with several older models of electric cars going up in value even though they have more mileage on board. The numbers are provided by price specialist HPI, with the mention that they represent a current situation – and are, as such, no guarantee that the trend will be noticeable within another year.
A unique combination of factors, including the government crackdown on gasoline and diesel vehicles, combined with increased taxes for the same cars, has led to an unprecedented situation in the second-hand car market. Prices for older models have gone up after they’ve been on the road for a year, for the simple reason that they are electric.
For instance, a Renault Zoe, which registers the highest boost in price, was selling for £6,300 in July 2017. One year and about 12,000 miles later, you can sell it for £1,900 more, which translates into a price increase of 30%.
Zoe is joined by other 10 models of electric cars, including Peugeot iOn, Citroen C-Zero, Nissan eNV200 and Hyundai Ioniq. These models alone have registered price boosts between 21% (for the iOn) and 9% (for the eNV200).
“It is rare to see cars appreciate in value but the market is seeing an unusual combination of factors,” Derren Martin, head of current valuations at HPI, tells the Daily Mail’s This Is Money section.
“We do have to stress that, just because these models have increased in value in the last year, it doesn't guarantee the same will happen again in the next 12 months,” Martin adds.
In other words, this is good news for you only if you already own one of those 11 car models, because you can now resell them at a profit.
A unique combination of factors, including the government crackdown on gasoline and diesel vehicles, combined with increased taxes for the same cars, has led to an unprecedented situation in the second-hand car market. Prices for older models have gone up after they’ve been on the road for a year, for the simple reason that they are electric.
For instance, a Renault Zoe, which registers the highest boost in price, was selling for £6,300 in July 2017. One year and about 12,000 miles later, you can sell it for £1,900 more, which translates into a price increase of 30%.
Zoe is joined by other 10 models of electric cars, including Peugeot iOn, Citroen C-Zero, Nissan eNV200 and Hyundai Ioniq. These models alone have registered price boosts between 21% (for the iOn) and 9% (for the eNV200).
“It is rare to see cars appreciate in value but the market is seeing an unusual combination of factors,” Derren Martin, head of current valuations at HPI, tells the Daily Mail’s This Is Money section.
“We do have to stress that, just because these models have increased in value in the last year, it doesn't guarantee the same will happen again in the next 12 months,” Martin adds.
In other words, this is good news for you only if you already own one of those 11 car models, because you can now resell them at a profit.