Shopping for a new car can be overwhelming, but for John Iannone, owner of Electric Car Corner in Farmington, New York, the used electric vehicles (EVs) at his dealership are a compelling choice. “They’re fun, safe, eco-friendly, and a great value,” Iannone said, highlighting their low maintenance requirements. “No maintenance and no oil changes,” he added, emphasizing one of the key benefits of EVs.
The used EV market has seen a dramatic shift in recent months, with prices falling between 15% and 20% each month over the last six months. According to a recent study by ISeeCars.com, the average price of a 1- to 5-year-old used EV is now around $32,198. This is only $917 more than the average gasoline vehicle, which costs $31,281. The study analyzed data from over 1.9 million used cars sold between February 2024 and February 2025.
The significant drop in used EV prices can be attributed to several factors. The price of new EVs has also decreased dramatically, partly due to increased incentives such as the $4,000 clean vehicle tax credit. Nearly 30% of used EVs now qualify for this credit, a factor that Iannone believes is attracting more customers to his dealership. “Some people aren’t aware of it, and some are. Make sure everyone knows what they can do with that $4,000,” Iannone advised.
Increased competition in the EV market is another factor contributing to the price drop. In the past, there were only a few EV models available, but now virtually every car manufacturer offers at least one EV model. Iannone’s dealership even features an electric Hummer, showcasing the diverse range of options now available.
With more choices than ever, Iannone stresses the importance of research before making a purchase. “The best thing to do before hitting the road is to research which car is right for you,” he recommended, helping potential buyers navigate the increasingly crowded and competitive EV market.
