Living With Climate Change: Used EVs: How to navigate the tight market for pre-owned electric vehicles

by | Aug 12, 2022 | Stock Market

Car and SUV buyers are getting closer to a first-ever tax credit for used and certified pre-owned electric vehicles, which ideally helps expand EVs from a just a luxury splurge to mass-market uptake. But in addition to tight supplies that make both new and used conventional cars and EVs harder to come by, consumers must consider time spent searching for inventory, battery range and degradation, a different maintenance schedule than they’re used to and other factors as they look to replace Earth-warming vehicles routinely impacted by volatile gas prices

Congress is nearing passage of legislation that devotes more than $360 billion to climate-change efforts, including a conditional $4,000 tax incentive to use toward previously owned electric vehicles and a $7,500 credit for new EVs. The Democrat-held House on Friday votes on a bill the Senate has already passed. Read: Thinking about an EV? First-ever $4,000 tax credit for used electric vehicles, and $7,500 for new, nears approval Passage is seen as a major effort toward increasing access to EVs across income levels and using them for multiple purposes, sending one with a kid off to college, for instance, compared with premium EVs like Tesla
and Lucid
which initially dominated the market. In fact, more …

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