If you’re in the market for a used EV, now might be the time to buy. The average price for a used electric vehicle has dropped by 15.1 percent versus last year, according to a study released by iSeeCars.com. The Porsche Taycan leads the charge, with a giant 26.5-percent drop in price on average. Going by brand, it’s Tesla that’s seen the biggest drop year-over-year, with a 13.6-percent drop in average price.
iSeeCars.com put together a few lists on used car prices for this study, the stand-out being used cars (both EVs and gas-powered) with the biggest price drops versus last February. The Taycan is far and away the worst when it comes to depreciation, losing over $26,000 in value on average versus last year’s prices. The BMW 5-Series hybrid arrives in a distant second place, followed by the aging Tesla Model S.
| Rank | Models With the Biggest Price Drops | Avg. Price February 2025 | $ Difference Year-over-Year | % Difference Year-over-Year |
| 1 | Porsche Taycan | $73,976 | -$26,626 | -26.5% |
| 2 | BMW 5 Series Hybrid | $34,298 | -$6,613 | -16.2% |
| 3 | Tesla Model S | $49,366 | -$9,509 | -16.2% |
| 4 | Tesla Model Y | $31,247 | -$5,927 | -15.9% |
| 5 | Maserati Levante | $45,783 | -$7,287 | -13.7% |
| 6 | Tesla Model 3 | $26,354 | -$4,112 | -13.5% |
| 7 | Hyundai Kona Electric | $20,329 | -$3,145 | -13.4% |
| 8 | Kia Niro EV | $21,758 | -$3,044 | -12.3% |
| 9 | Ford Explorer Hybrid | $31,930 | -$4,218 | -11.7% |
| 10 | Mercedes-Benz AMG GT | $78,315 | -$10,197 | -11.5% |
While the Taycan led price drops by car, it’s a different story if you sort by brand. EV maker Tesla holds the crown for price drops, dropping 13.6 percent on average. iSeeCars.com points to an aging product line and slowing demand for Tesla values falling, though CEO Elon Musk’s recent controversies might also have something to do with it. Here’s the full list:
| Rank | Brands With Largest Used Car Price Drops | Avg. Price February 2025 | $ Difference Year-over-Year | % Difference Year-over-Year |
| 1 | Tesla | $31,733 | -$5,013 | -13.6% |
| 2 | Maserati | $43,992 | -$5,208 | -10.6% |
| 3 | Chrysler | $24,987 | -$2,058 | -7.6% |
| 4 | Chevrolet | $30,409 | -$2,126 | -6.5% |
| 5 | Genesis | $34,210 | -$1,736 | -4.8% |
| 6 | Buick | $26,219 | -$1,300 | -4.7% |
| 7 | Porsche | $79,442 | -$3,713 | -4.5% |
| 8 | Dodge | $33,473 | -$1,346 | -3.9% |
| 9 | Mitsubishi | $19,016 | -$553 | -2.8% |
| 10 | Audi | $35,661 | -$818 | -2.2% |
Though EV prices are down big time, values for used hybrids and pure ICE-powered cars have remained largely steady, according to iSeeCars.com. That’s due to the looming threats of tariffs, according to executive analyst Karl Brauer. If the prices of new cars go up, used car values will rise, too.
“It’s not easy to find a great deal in today’s used car market,” Brauer said in a statement. “But if an electric vehicle can serve your personal transportation needs, most used models have dropped substantially in cost over the past year, especially compared to gas and hybrid models.”