Does Range Affect EV Resale Value?
Many EV owners have asked about the impact of range on their electric car’s resale value. For newcomers, an EV range is the mileage your electric model can travel on a fully charged battery.
Multiple auto experts have found that EVs with longer ranges have a higher resale value than their shorter-ranged competitors. Their data has shown that EVs with a range of 100 miles or more had a 67% resale value, whereas those with a 250-mile range had an estimated 73% resale value. For BMW EV owners, you have a certified 300-mile EV range, which is perfect for any chance of reselling it around the Coconut Creek area.
According to the National Renewal Energy Laboratory, every additional 10 miles of range an EV has means an increase of 5% in resale value. For those planning to sell their BMW EV before upgrading, there is a much greater chance of it selling.
Other Factors Affecting Electric Vehicle Resale Value
While range is often considered the most important factor in your electric car resale value, it’s not the only one. Other determining aspects that can affect the overall value of your electric vehicle include:
- Vehicle Condition
- Brand and Model Year
- The Condition of Your EV Battery
- The Popularity of The Vehicle You Own
- Competition From Other Available EV Brands
- The Condition of The Vehicle’s Interior/Exterior Tech
What Can Increase Electric Vehicle Resale Value?
While many factors affect your electric car resale value, you can take steps to make it more attractive to buyers in Fort Lauderdale, Hollywood, and beyond:
- Upgrade Your Battery: Getting your EV battery replaced can not only fix a worn-out one but also increase your vehicle’s overall range.
- Stay Updated With The Latest EV Tech: If you upgrade your EV with new tech and features, it can make it more attractive to prospective buyers.
- Keep Your EV Well-Maintained: Keep your EV in immaculate condition at all times, including any regular service and maintenance your EV might need around Miami.
Learn More About Electric Vehicles With BMW of Fort Lauderdale
If you are planning to sell your present EV or looking for your first one, BMW of Fort Lauderdale is the place to go. Whether it’s finding out if an electric car is right for you or preparing your home for one, we can help you look through what’s available. Don’t forget to review our lease and finance offers to see if you can find your preferred EV among them. Find your new EV around the Miami area with BMW of Fort Lauderdale!
