Used combustion engine models are on average £2,560 more expensive than equivalent electric models from the same manufacturer, a difference of 10%, according to CarGurus.
The automotive marketplace analysed the average prices of EVs that offer equivalent fuel-powered models from the last four model years. The study examined second-hand vehicle listings from the UK’s top 30 manufacturers.
Chris Knapman, CarGurus U.K. editorial director, said: “Our research shows just what good value some used EVs currently represent, including long-range models such as the Skoda Enyaq and Jaguar I-Pace. While it’s no secret that, right now, electric vehicle ownership won’t work for everybody, it is equally true to say that it can be a fantastic fit for a lot of motorists.
“With the potential for thousands in savings over an equivalent petrol or diesel model, combined with lower running costs, there’s never been a better time to consider EVs on the used market.
“What’s more, it’s not only the pricing that is currently very attractive: compared with the earliest EVs, where the range might be limited to under 100 miles, newer models have improved dramatically with greater ranges, faster charging, and stronger performance.”
Skoda, Mazda, VW, Jaguar, and Renault offered the greatest selection of standalone electric and comparable fuel-powered models.
The EV that presented the greatest value against its ICE alternative was the 2021 Mazda MX-30, available for 28% less than the ICE alternative CX-30 (an average of £12,180 vs. £16,960 as of year-end 2024).
The 2021 Jaguar I-Pace was 22% less than the F-Pace from the same model year (£25,629 vs. £33,012), and the price of the 2022 Skoda Enyaq was 19% less than the 2022 Skoda Kodiaq (£23,056 vs. £28,307).
CarGurus concludes that customers looking for the best value used cars should choose a three to four year old EV.
