EVs depreciate more rapidly than their gas-powered counterparts, and that makes them one of the best deals on the used car market. That means buyers can get in on the ground floor of a revolution without spending big money.

However, a few things should be kept in mind before buying a used EV. For starters, EVs lose battery capacity as they age. The degradation rate depends on temperature, driving style and terrain, but most EVs made after 2017 have sophisticated liquid cooling systems that reduce losses to an acceptable level for many drivers.

Finding Value: Tips for Buying Used EVs

Additionally, some EV batteries are warranted for up to ten years from the date of purchase. The manufacturer will also offer a transferable powertrain warranty, which may include some parts of the drive system and possibly even extend to replacement of the entire battery pack.

Lastly, potential EV buyers should be sure to take a long test drive to ensure the range estimator is accurate and that the EV can handle a variety of driving conditions. A good test drive should include sustained cruising at highway speeds, which tends to drain batteries faster than stop-and-go driving.

Luckily, New York is working to improve public charging infrastructure across the state. Moreover, the IRS recently revised its policy on Used Evs to allow owners to claim up to $4,000 in tax credits for their purchases. The list of qualifying models can be found here and includes both all-electric BEVs and plug-in hybrid PHEVs.