Money Minute: Used electric vehicles

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    Money Minute: Used electric vehiclesMoney Minute: Used electric vehicles

If you are in the market for another car and will consider a used one, an expert says this may be the best time to buy an electric vehicle.

Brian Moody, the executive editor of Kelley Blue Book, says not to worry about the incentives going away because the first owner took the depreciation hit, leaving a good used-car price.

“They depreciate rapidly, which is great news for the used-car buyer, and they have long warranties on the battery and drive components,” Moody said.

He says that warranty should give you peace of mind, so if an electric car could work for you, it may be a great value.

“I think right now for any used-car shopper, you’re not going to find a newer car with more compelling features, more modern safety equipment and at a better price than a used electric car,” Moody added.

The key is to make sure it works for your life.
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