Do Hybrids and EVs Have Higher Resale Value?
Fuel-efficient cars and crossovers are popular options in the automotive industry and Birmingham-area families who have a hybrid or electric vehicle (EV) may be able to sell their vehicle at a premium price. Families who are in that category may want to know – do hybrids and EVs have higher resale value – and The Car Depot may have the answer.
Why Should You Sell Your Hybrid at The Car Depot?
Many drivers who purchase a hybrid, do it to save money on fuel at the pump – but do hybrid and EV vehicles have a higher resale value? This is a question that we can help answer at The Car Depot. We pay the best prices in the Birmingham area for used cars, trucks and SUVs and we want to help you get the most money for your hybrid or EV.
Hybrid cars, trucks and SUVs provide drivers with an incredible list of advantages and higher resale value is on the top of the list. Affordable price tags that are comparable to their gas-powered counterparts pair with similar depreciation value – which leads to higher resale value when you decide to sell your hybrid. With rising gas prices, fuel-efficient vehicles like the Toyota RAV4 Hybrid, Honda Accord Hybrid, Toyota Prius and more are in high demand – adding to the resale value.
EVs are new to the market and the resale value is not as impressive as with hybrid counterparts – but the resale value continues to climb as more EVs are bought and sold. The expansion of electric vehicle technology is impressive, but with more limited availability, electric-powered cars, trucks and crossovers do not hold value as well as traditional vehicles according to Kelley Blue Book® data. Resale values for EVs are lower than hybrids in the market – but continue to improve.
READ MORE: Which Used Cars, Trucks and SUVs Have the Best Resale Value?
Do hybrids and EVs have higher resale value? Find out how well fuel-efficient cars, trucks and SUVs hold their value with this quick overview created by The Car Depot. Contact The Car Depot today to learn more about how to get the best price for your pre-owned vehicle in the Birmingham area!