HERE'S WHAT TO BUY AS USED EV PRICES CONTINUE TO DROP

Now is a great time to purchase a used electric vehicle. The average price for a used EV has dropped about 20% compared to this time last year.

To top it off, you can qualify for a federal tax credit of up to $4,000 if you purchase an EV for $25,000 or less. To help with your search, experts have rounded up five of their favorite used EVs. The average prices below are what you can expect to pay at a nationwide no-haggle dealership such as CarMax or Carvana.

CHEVROLET BOLT EV

The Chevrolet Bolt EV could be a great choice you're searching for an inexpensive used EV. Older Bolts can be quite affordable, especially if you get one that qualifies for the $4,000 tax credit. Chevy produced the Bolt through 2023. The Bolt EV boasts a spacious cabin and an EPA-estimated driving range of 259 miles, which is quite good for an older EV. On the downside, the Bolt can't charge very fast at public fast-charging stations.

Look for: Bolts from 2022 and 2023 received fresh styling and improved tech features. There's also a SUV model called the Bolt EUV that was available from 2022 to 2023. 2017-2022 models have a battery recall, so make sure it's been addressed in the one you're interested in.

2017-2023 pricing: approximately $15,000 to $25,000

HYUNDAI IONIQ 5

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The loniq 5 isn't an average-looking SUV; it almost resembles a futuristic Volkswagen GTI with its sporty retro-modern look. But it still performs SUV duties thanks to ample passenger space, available all-wheel drive, and a user-friendly comfortable interior. It's also one of the quickest-charging electric SUVs at a public fast-charging station. We just wish it had a larger cargo area.