Last updated: June 2026
The short answer: EVs have historically depreciated faster than gas cars, but the gap is narrowing rapidly. In 2026, several EV models (Tesla Model 3/Y, Hyundai Ioniq 5) have resale values comparable to or better than equivalent gas cars.
EV depreciation has been driven by three factors:
However, as EVs mature technologically (range improvements are slowing, charging networks are maturing), depreciation is stabilizing. Some 2023-2024 EVs are showing remarkably strong resale values.
3-year resale value: 58-65% of original MSRP | Why it holds value: Strong brand recognition, over-the-air updates keep features current, excellent Supercharger access, high efficiency.
The Model 3 has the most stable resale value of any EV. A 2023 Model 3 Long Range that sold new for $42,990 is worth $25,000-$28,000 on the used market in June 2026 — better than many gas sedans in the same price class.
3-year resale value: 55-62% | Why it holds value: The most popular EV in the US. Strong demand in the used market. Software updates add features over time.
3-year resale value: 52-60% | Why it holds value: Unique retro-futuristic design (doesn't look "dated"), 800V fast charging, positive reviews from owners.
Hyundai's 10-year/100,000-mile battery warranty is transferable (unlike Tesla's, which may be limited for second owners), making used Ioniq 5 models particularly attractive.
3-year resale value: 50-58% | Why it holds value: Porsche brand commands premium resale values across all models. The Taycan is no exception.
3-year resale value: 48-55% | Why it holds value: The F-150 nameplate has the strongest resale value in the truck segment. The Lightning benefits from this brand equity.
3-year resale value: 32-40% | Why it depreciates fast: Uses older CHAdeMO charging standard (being phased out), no active thermal management in older models, limited range by 2026 standards.
3-year resale value: 35-42% | Why it depreciates fast: GM discontinued the Bolt (replaced by Equinox EV), which concerns used buyers about parts and support. Also, the battery recall in 2021-2022 damaged resale confidence.
3-year resale value: 38-45% | Why it depreciates fast: Relatively low efficiency (reduces fuel cost savings), early software issues, and Audi's slower EV development pace compared to Tesla and Hyundai.
| Vehicle (New Price) | 3-Year Resale | EV or Gas? |
|---|---|---|
| Tesla Model 3 ($42,990) | 58-65% ($24,940-$27,940) | EV |
| Toyota Camry Hybrid ($28,855) | 60-68% ($17,315-$19,620) | Gas/Hybrid |
| Ford F-150 (gas, $36,570) | 62-70% ($22,675-$25,600) | Gas |
| Ford F-150 Lightning ($49,995) | 48-55% ($24,000-$27,500) | EV |
| Hyundai Ioniq 5 ($41,800) | 52-60% ($21,740-$25,080) | EV |
| Honda Civic ($25,050) | 58-65% ($14,530-$16,280) | Gas |
| Nissan Leaf ($28,040) | 32-40% ($8,970-$11,215) | EV |
Sources: Kelley Blue Book (KBB), Edmunds, and iSeeCars data (2026).
Used EVs with a documented battery health certificate (showing 85-95% capacity remaining) command 10-20% higher resale values than equivalent models without documentation. Always request a battery health check before buying used, and keep records if you're selling.
EVs with remaining battery warranty (8 years/100,000 miles) are worth significantly more than those approaching warranty expiration. A 2022 EV with 40,000 miles (60,000 miles of warranty remaining) is worth $2,000-$4,000 more than a 2021 EV with 90,000 miles (10,000 miles of warranty remaining).
EVs that have received regular over-the-air updates (Tesla, Hyundai, Ford, GM) feel more "current" to used buyers. EVs without OTA updates (older Nissan Leaf, some Audi e-tron) feel outdated faster.
Used EVs that include NACS (Tesla-style) charging access (either factory or via adapter) are worth more in 2026, as the charging network standard has shifted. A used Tesla with NACS is more valuable than a used CCS EV (which may need an adapter for Tesla Superchargers).
As the EV market matures, depreciation is expected to stabilize. Several factors support this:
By 2028-2029, most analysts predict EV depreciation will match gas car depreciation for equivalent models.
EV insurance is typically 10-20% more expensive than gas car insurance (due to higher repair costs and parts availability). However, this doesn't directly affect resale value — but it does increase the total cost of ownership, which indirectly pressures resale values downward. Some insurers now offer "EV discounts" that narrow the gap.
It depends on the price and your risk tolerance. A used EV out of battery warranty (8 years/100,000 miles) typically sells for 30-40% of its original MSRP — a compelling value proposition. However, if the battery fails (rare but possible), replacement costs $12,000-$20,000. For this reason, many used EV buyers choose models with remaining warranty or purchase a third-party extended warranty.
Yes, dramatically. When the federal $7,500 tax credit expired in September 2025, used EV values dropped 5-15% almost overnight (as buyers realized they could no longer claim the used EV tax credit). Conversely, when a state expands its EV rebate program, used EVs in that state typically rise in value.