Used electric vehicle prices are experiencing an unusual appreciation trend this year, according to multiple automotive research firms. Data from Recurrent shows prices for used EVs increased 5.1% from January through June 2026, with year-to-date gains reaching 7% through mid-July. Similarly, Edmunds found that average transaction prices for three-year-old electric vehicles rose 6% during the first half of the year to $33,303. The price growth has been widespread, with 21 of the 25 most popular used EV models increasing in value during the January-June period.
This appreciation is noteworthy because it contradicts the historical pattern of electric vehicles depreciating rapidly in the used market. Industry experts noted that used EVs have traditionally experienced poor resale values. The trend is particularly surprising given that record quantities of used EVs are entering the market—Recurrent expects over 500,000 leased vehicles to return as used cars this year alone. Typically, such high supply would pressure prices downward, but strong consumer demand has counterbalanced this effect.
Several factors are driving increased demand for used EVs. Elevated gasoline prices, which averaged roughly $4.10 per gallon as of late July—up approximately 31% year-over-year—have made fuel-efficient vehicles more appealing to consumers. Broader affordability concerns amid persistent inflation have also steered buyers toward the used market generally. Additionally, consumers now have more EV options across various price points than in previous years, and newer used EVs often provide comparable pricing to older gas-powered vehicles while offering superior technology and lower mileage.
The price dynamics benefit current EV owners considering sales, as they face improved resale values. However, prospective buyers may encounter higher purchase prices as a result. The impact has been most pronounced in the budget segment, where used EVs under $20,000 saw prices increase 9.4%, while higher-priced models above $40,000 experienced price declines. Market analysts suggest that improved understanding of total cost of ownership—including lower maintenance and potential fuel savings—has also contributed to sustained buyer interest in used electric vehicles.
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