We've been watching this unfold over the past year: electric cars depreciating much faster than their gasoline and hybrid counterparts. This trend came on the heels of Tesla's rapid-fire price cuts last year, and it sparked a price shift that's both exciting and concerning. But let's focus on the upside for now. Lower resale values on EVs mean you can snag a high-tech, modern used electric car for less than the average price of a used hybrid or gas vehicle.
Automotive research firm iSeeCars published a study this week explaining the dynamics of the used EV market in the U.S. The study said that prices of cars like the Tesla Model 3, Nissan Leaf, Hyundai Kona Electric and the Kia Niro EV have dropped six times faster than gas cars over the past 12 months.
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