Used EV vs. New EV in Canada – Which One Is the Better Deal?
Electric vehicles (EVs) are taking over Canadian roads, but buyers face a major decision: Should you buy a brand-new EV or opt for a used one? With government incentives, fluctuating battery technology, and resale values to consider, making the right choice can be overwhelming. This guide breaks down the real costs, benefits, and risks of both options—so you know exactly which is the better deal for you!
1. Price Comparison – New vs. Used EVs in Canada
Price is often the biggest deciding factor for EV buyers. Let’s break down the numbers.
| EV Type | Average Price (CAD) | Average Price (USD) |
|---|---|---|
| New EV (Base Model) | $45,000 – $70,000 | $33,000 – $51,000 |
| Used EV (3–5 years old) | $25,000 – $40,000 | $18,000 – $29,000 |
| Luxury New EV | $75,000+ | $55,000+ |
| Luxury Used EV (3–5 years old) | $50,000+ | $37,000+ |
What This Means for Buyers
If budget is your main concern, a used EV can save you up to 40% compared to buying new one. However, used EVs may have some drawbacks that could cost you more in the long run.
For the latest new EV inventory and pricing, check out Kia 417’s New Inventory.
Explore New 2025 Kia EV/Hybrid Models at Kia 417!2. Depreciation – How Much Value Do EVs Lose Over Time?
One of the biggest myths about EVs is that they depreciate faster than gas cars. While this was once true, modern EVs are holding their value better. Let’s look at the data.
EV Depreciation Over 5 Years
| EV Type | Depreciation After 1 Year | Depreciation After 3 Years | Depreciation After 5 Years |
| New EV | 15-20% | 35-45% | 50-60% |
| Luxury New EV | 20-30% | 45-55% | 60-70% |
| Used EV (3–5 years old) | 10-15% | 25-35% | 40-50% |
Key Takeaway
A used EV (3-5 years old) may be the sweet spot, as the previous owner has already absorbed the bulk of depreciation. However, newer models have better battery longevity and range.
3. Battery Health – Should You Worry About Used EV Batteries?
A major concern with used EVs is battery degradation. Over time, EV batteries lose some of their capacity, reducing the car’s overall range.
Average EV Battery Degradation Over Time
- Year 1: ~2-3% range loss
- Year 3: ~6-10% range loss
- Year 5: ~12-18% range loss
- Year 8+: ~20-30% range loss (varies by model)
Do Used EVs Still Have Enough Range?
A 5-year-old EV that originally had a range of 400 km (250 miles) may now have only 320 km (200 miles). For most drivers, this is still plenty, but if long road trips are frequent, a new EV may be a better choice.
Newer EVs also come with improved battery chemistry, meaning less degradation and longer lifespans.
4. Government Incentives – Do You Get More for New or Used?
Canadian federal and provincial incentives can significantly reduce the cost of a new EV, but are there any benefits for buying used?
Federal EV Incentives (Canada)
- New EVs: Up to $5,000 CAD off
- Used EVs: No federal incentives currently
Provincial Incentives (Examples)
| Province | New EV Rebate | Used EV Rebate |
| Ontario | $0 | $0 |
| Quebec | $7,000 CAD | $3,500 CAD |
| British Columbia | $4,000 CAD | $0 |
Verdict
If you live in Quebec, you can save up to $3,500 on a used EV. However, most other provinces provide bigger incentives for new EVs.
Explore current New Car Specials at Kia 417 for potential savings.
Explore New 2025 Kia EV/Hybrid Models at Kia 417!5. Charging Costs – Is There a Difference?
Charging costs are relatively similar for new and used EVs, but older models may be less efficient.
| Charging Type | Cost Per Full Charge (CAD) | Cost Per Full Charge (USD) |
| Home Charging (Level 2, Overnight) | $8 – $12 | $6 – $9 |
| Public Fast Charging | $20 – $35 | $15 – $26 |
| Tesla Supercharger | $25 – $50 | $18 – $37 |
What This Means for You
- Used EVs may require more frequent charging due to battery degradation.
- New EVs are generally more efficient, meaning lower charging costs per kilometer.
6. Technology & Features – Are Used EVs Outdated?
New EVs come with the latest driver-assistance technology, improved infotainment, and better range. Here’s how they compare:
| Feature | New EV | Used EV (3-5 years old) |
| Autonomous Driving | Yes (most models) | Limited |
| Infotainment System | Latest tech | Older UI |
| Range Efficiency | Improved | Slightly lower |
| Charging Speed | Faster | Slower |
If having the latest technology is important to you, a new EV is the better choice.
7. So, Which One Is the Better Deal?
Choose a New EV If:
- You want the latest technology and features.
- You qualify for big government incentives.
- You plan to keep the car for 8+ years.
- You want the best battery efficiency.
Choose a Used EV If:
- You want to save 30-40% on the purchase price.
- You don’t need the latest tech or maximum range.
- You prefer lower depreciation losses.
- You live in Quebec (where used EV rebates apply).
Final Thoughts – The Best EV Deals in Canada
Both used and new EVs have their advantages, but the best choice depends on your budget, location, and driving needs. If you’re ready to explore the best EV deals in Canada, check out:
Still have questions? Visit Kia 417 today to test drive your next EV!
Explore New 2025 Kia EV/Hybrid Models at Kia 417!
