Why Some EVs Plummet in Value Faster Than Others

If you are thinking about buying a used EV, it helps to understand why some models hold their value and why others fall sharply. The good news is that most of these trends have clear explanations. With a bit of research and the right checks, you can avoid the models that tank early and focus on the ones that stay strong.

Here is everything you need to know before you buy.

Why EV Depreciation Works Differently

All cars lose money over time, but EVs drop for reasons you do not normally see with petrol cars. Battery health, range expectations, software support, and charging performance all play a role. Some models were built with the long game in mind — others were not.

Rapid Battery Improvements Push Older EVs Down

Battery technology evolves quickly. When a new model launches with a bigger battery, faster charging, or improved efficiency, older EVs instantly look outdated.

Why some models suffer more

• Smaller early generation batteries

• Basic or missing thermal management

• Lower real-world range

• Major spec jumps between generations

If a 2017 EV manages 120 miles and a 2024 version manages 250 miles, the older one must drop sharply in price to stay appealing. This is one of the biggest reasons EV depreciation can feel extreme.

Battery Degradation Fears Hurt Confidence

Even though most EV batteries hold up well, buyers still worry about degradation. A model known for range dropoff or battery issues will lose value faster.

Common concerns

• No active cooling system

• Older battery chemistry

• Weak or unclear battery warranty

• Slower rapid charging after years of use

• Reports of early degradation

This is why checking battery-related clues matters. A full vehicle history report from TopCarCheck.co.uk can help you spot mileage irregularities or suspect usage patterns that might shorten battery life.

Slow Charging Speeds Damage Long-Term Value

Charging speed matters more than many buyers expect. Some older EVs peak at 50kW or less, while modern models hit 100kW, 150kW or more.

Why slow chargers drop faster

• Less practical for long trips

• Feel outdated as charging networks get faster

• Extra waiting time puts off buyers

As the UK rapid-charging network expands, slow-charging EVs look even slower by comparison, pushing their values down.

Oversupply Has Flooded the Market

Between 2020 and 2023, fleets and leasing companies bought huge numbers of EVs. Many of these returned to the used market at the same time, creating sudden oversupply.

The most affected models

• High-fleet EVs with heavy usage

• Cars from brands that cut new prices

• Models with weaker private-buyer demand

Oversupply creates a buyer’s market. Prices fall quickly, especially when there are thousands of near-identical ex-fleet cars hitting used forecourts.

Warranty Length Makes or Breaks Value

Battery and motor warranties matter far more to EV buyers than to petrol buyers. Long warranties help hold value. Short ones push prices down fast.

What buyers look for

• At least 8 years of battery cover

• Clear mileage limits

• Transferability to the next owner

• A brand known for honouring warranty claims

An EV with a strong warranty feels safer — and safety keeps values high.

Brand Reputation Sticks for Years

Once an EV earns a reputation for poor resale value, it is hard for that model to recover. The market expects prices to drop, and they usually do.

Causes of a weak reputation

• Limited dealer network

• Reliability concerns

• Poor parts availability

• Recalls or software faults

• Weak charging performance

Brand confidence is a huge factor with EVs because the technology is newer, and buyers want reassurance.

Software Support Shapes Resale Value

EVs rely heavily on software. Buyers now care about update history almost as much as service history. If a car stops receiving updates, its value slides.

Why software matters

• Battery optimisation

• Range management

• Safety system reliability

• Infotainment smoothness

• Charging compatibility

Well-supported EVs age gracefully. Neglected ones do not.

Running Costs Are Not Always Low

Not every EV is cheap to run. Some older models are surprisingly inefficient or have expensive parts.

Reasons running costs push values down

• High motorway consumption

• Costly tyres or brakes

• Limited home charging capability

• Slow onboard chargers

• Poor cold-weather performance

Buyers compare running costs more carefully now, pushing inefficient EVs down the list.

Typical EV Depreciation Patterns

Below is a simplified table showing why certain EV types drop faster than others.

To check any specific car for hidden risks, you can run a quick and affordable vehicle history check at TopCarCheck.co.uk.

New EV Price Drops Hit Used Prices Immediately

When manufacturers cut the price of a new EV, used prices fall overnight. Buyers will not pay nearly new prices for a used version when the latest model is already cheaper.

This usually happens when

• A refreshed model launches

• New battery tech arrives

• The brand adjusts pricing strategy

• Competitors release cheaper alternatives

This happened repeatedly through 2023 and 2024, hitting some EV values hard.

Range Anxiety Still Shapes Buyer Choices

Even though the UK charging network is improving fast, buyers still worry about range. Poor-range EVs fall in value quickly.

Range issues become more severe in

• Cold weather

• Motorway driving

• High-mileage cars

• Older battery chemistries

Smaller-battery models tend to drop hardest.

How to Protect Yourself When Buying a Used EV

If you are considering a used electric car, you can avoid depreciation traps by focusing on the right features.

Key tips

• Prefer EVs with strong battery warranties

• Look for models with a proven reliability record

• Choose cars with competitive charging speeds

• Avoid early slow-charging generations

• Check real-world range, not brochure figures

• Research depreciation before choosing a model

• Run a full vehicle history report before buying

A history check from TopCarCheck.co.uk can help you spot mileage concerns, cloned cars, battery-unfriendly usage patterns and more.

Conclusion

Some EVs drop in value quickly because of outdated battery tech, poor charging performance, weaker warranties or oversupply. Others hold their value well thanks to strong reliability, good efficiency and regular software updates. The key is knowing the difference before you buy.

With the right research and a thorough history check, a used EV can still offer huge value, low running costs and a long lifespan. If you want to make sure the car you are considering is a solid choice, you can run a full check at TopCarCheck.co.uk and buy with confidence.