Are you in the market looking for an Electric Vehicle (EV)? Well, then consider getting a second-hand model!
Because EV engines don’t wear down the way internal combustion engines do, they’re still a steal even if you buy a pre-owned one. Not only will a second-hand electric vehicle offer excellent quality, but it will also end up saving you big bucks on the fuel and maintenance costs.
And if funding poses a problem, you can always turn to a reliable lender like Tata Capital and avail of competitive used-car loan interest rates.
Here are three questions you must ask before purchasing a second-hand EV in India
How much does it cost?
Sure, you’ve chosen an EV model that oozes panache, but what good is it if it burns a hole in your pocket? Even second-hand EVs come with a substantial price tag in India. But while EVs typically have a higher upfront cost, they end up being much cheaper in the long run. This is because they have a much lower running and maintenance cost.
So if you’re thinking of buying one, we recommend opting for a used-car loan. These loans are available at attractive interest rates and are disbursed quickly. Why dent your savings when you can borrow a low-interest loan online?
Additional Read: What is a Hybrid Car? How Exactly Does It Work?
What is the driving range?
Another critical point of consideration is the car’s driving range, which is the distance an EV can cover before you need to recharge its battery. As most of us have driven only petrol or diesel cars, an EV’s range is still unfamiliar territory. So when you’re shopping for one, it’s best to consider the size and quality of the battery pack the cars carry.
Where a budget EV can drive up to 100 kilometers on a single charge, a high-end second-hand car lets you enjoy a far better range. A typical used luxury EV can cover a distance of at least 400 kilometers on a single charge as it has a bigger battery pack.
Are there any efficient charging stations near you?
In bigger cities, you’ll be able to locate charging stations comfortably. Metropolises and even tier-II cities in India now boast easily accessible EV charging stations. Nonetheless, make sure you map out these stations around your home or office for improved convenience before buying an EV.
Unfortunately, you might find it challenging to scout for EV charging stations on remote highways and rural parts of India. Luckily, this scenario is slowly getting better as the installation of EV charging stations is already underway in various states across India.
Additional Read: Is Electric Car Better than Petrol Car?
Answering these questions will help you determine if it’s worth purchasing used electric cars. If you’re ready to move ahead, you must evaluate a few parameters to make an informed decision.
What to look for while buying second-hand electric cars?
Before buying second-hand EV cars, you must consider the following factors-
Battery Status
An efficient battery is at the heart of an electric car. Although EV batteries are long-lasting, they do age over time, decreasing their capacity and the range of the car. When buying second-hand EV cars the condition of the battery is heavily influenced by maintenance, charging cycles, and other charging-related activities.
According to an ADAC endurance test, the original range of the Nissan Leaf dropped by 24.5% after 80,000 kilometers. However, the range of most second-hand electric cars remains sufficient for daily commutes. Many EV car manufacturers provide a battery certificate that you can request from the seller before buying used electric cars.
Battery Capacity
The battery capacity of an electric car is similar to the fuel tank capacity of a fuel car. It is expressed in kWh and influences the car’s range between charges. The higher the capacity of the battery, the less you’ll have to charge the second-hand EV car.
The batteries in electric cars today can easily last for at least 8 to 10 years. Before buying second-hand electric cars, you can ask a specialist to test the battery and give you more information about its condition and capacity.
Recuperation
When you apply brakes in a modern electric car, it recovers energy. This is called recuperation. If you live in a sparsely populated area with limited traffic, you might only use the accelerator to drive to the destination. This causes an immediate reaction in the electric motor, neglecting the braking. This can build up rust and affect the braking performance.
Therefore, before buying used electric cars, make sure to check the brakes properly.
To sum up
Now that you know how to buy a used electric car in India, all that’s left is to narrow down to a suitable EV model and figure out the finances.
If you are looking for a credible lender to get used-car finance, turn to Tata Capital. With us, you can get a loan at attractive interest rates and minimal documentation in only a few days. Learn more about our easy used car loan eligibility criteria here.
13 March 2024
5 mins read
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