The used electric vehicle market is booming, with sales reaching record levels at the end of 2024. But if you're looking to sell your EV, now might be the best time — here's what you need to know before putting your car on the market.
The scoop
The used EV market is experiencing significant growth in the U.S. — and worldwide — as consumers look to save money on gas and maintenance and take advantage of federal EV tax credits. Advancements in battery technology have led to increased range and faster charging times, making EVs appealing to a wider range of customers.
According to a report by Recurrent — a free service that makes buying and selling used EVs easier — used EV sales in 2024 saw a whopping 63% increase from 2023 numbers.
Selling your used EV can be lucrative, especially if you use Recurrent's service. Registering your vehicle on its website will give you a free report with all the necessary information about your car, including its battery and charging history, battery warranty estimate, and expected range. The company will pull data on your EV's battery health a few times a day and alert you if it needs maintenance.
When you're ready to sell, Recurrent will do all the hard work for you by pitching your EV to hundreds of local and national dealerships in its network to help you get the best offer. The best part? On average, you could get $1,400 more for your car by selling through Recurrent since the data provides transparency to interested buyers that can boost your car's resale value.
And with the used EV market expected to expand by more than 1 million lease returns through 2027, according to Recurrent's report, it might be the perfect time to sell before the flood of EVs hits the market.
How it's helping
Recurrent is essentially the Carfax of EVs, providing comprehensive vehicle history reports to buyers and a one-stop shop for sellers to get offers from dealerships without the hassle.
"We did all of this work, found you the best number, and we just make the introduction to the dealer, and you take it from there," Recurrent's CEO, Scott Case, told The Cool Down in an interview. "Aside from reducing the grossness of the transaction on the sell side, it means that you're actually getting paid for having taken good care of your battery, and that's, like, a pretty attractive thing."
Even if you're not selling your EV, Recurrent's monthly report on your vehicle's health can help you stay informed about its performance and any service it might need.
Driving an electric vehicle is already much better for the environment than gas-powered cars since they don't produce tailpipe pollution, but maintaining your car's battery can extend its life and help the planet even more.
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Cost 💰 What everyone's saying
Reddit users highly recommended Recurrent if you want an easy way to keep track of your EV battery's health.
"Been using Recurrent for years on various EVs and they provide awesome data and information on your EV and how it compares to others of the same model and year," one user said in the r/EquinoxEv subreddit. "Provides monthly updates and with information about your EV and other information (use data for analyses and studies). Super useful in my opinion and full of pros."
"I've used recurrent for about 5 years. Originally with my 2018 Chevrolet bolt and I just recently added 24 Rivian r1t. It has always seemed like a neat way to help track the degradation of my battery compared to other people with the same vehicle," another shared in the r/electricvehicles forum. "You should get an email every month that will show you where you stand versus the rest of the fleet for your model in their program."
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