An influx of used electric cars could bring prices down

Part of what held back electric cars was cost. But the influx of used cars over the next three years could bring prices down significantly. In 2025, only 123,000 EV leases expire. This number is expected to double to 300,000 in 2026, and double again to 600,000 in 2027 and 660,000 in 2028, according to Cox Automotive.

Most rental vehicles end up hitting the used market. This means that more than a million used electric cars could become available over the next few years, making them more accessible. The vast majority of cars sold in the United States are used — about 76 percent as of 2024, according to a report Consumer affairs. A big part of that comes down to price. In the same report, Consumer affairs He said the average price of a new car was $46,992, and just $27,113 for a used car.

the New York Times Highlight how big a difference that could be for electric vehicles in particular:

AutoNation, a large dealership chain, is advertising the 2023 Hyundai Ioniq 5 SUV for $28,000. It has only been driven 18,000 miles. Loaded with options including all-wheel drive and a panoramic roof, it was listed for $58,000 three years ago.

While new electric cars tend to be more expensive than their gas-powered counterparts, prices are about the same on the used market. However, the glut may not last. According to timesSales and leases of new electric vehicles fell by 36 percent year-on-year from the end of 2024 to the end of 2025. They continued to decline further in the first quarter of 2026.