Prices for used electric vehicles have plummeted over the last year as the car industry seemingly catches up with demand. But while EVs now approach price parity with combustion-engined vehicles, they haven't yet undercut them as cheaper alternatives.

The EV market has been unstable for more than a year now. The average price of a used EV was 60 percent higher than that of the average used car in October 2022, according to iSeeCars. Back then, your typical used EV cost $52,821, whereas the typical used car cost just $32,627.

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Used EV Prices Have Plummeted, But Are They Worth The Risk?

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