Used electric car prices bounce by up to 28% as fuel costs surge
The price of petrol and diesel at the pumps is fuelling a surge in used electric car interest, prompting an increase in values
With £2 a litre diesel now the norm and petrol prices stubbornly hovering above an average of 170p, it seems many motorists are turning to used electric cars as a solution.
With EVs having suffered steep initial depreciation in many cases, Solera CAP HPI data is showing a remarkable comeback for many popular models. One example is the MINI Cooper Electric, with the average trade value of a three-year-old, 30,000-mile example leaping by 28.3 per cent in the last six months, amounting to an increase of nearly £3,000.
The Tesla Model 3, Polestar 2 and Cupra Born have all done well for themselves, enjoying value increases of around 20 per cent for three-year-old/30,000-mile examples.
These market moves might suggest that, as we recently pointed out, it is probably better to get a cheap used EV sooner rather than later. Increasing EV interest is an ongoing trend reflected in enquiries (e.g. requests for quotes or test drives) on our sister site Carwow, which rose by 28 per cent between March and the end of September 2026. In the same period, diesel car enquiries plummeted by 33 per cent.
Anyone running an EV will have been thus far insulated from the increasing running costs drivers of petrol and diesel cars have suffered. And while the war in Iran is leading to an increase in electricity prices as well as petrol and diesel, the Ofgem energy price cap has only risen by 3.6 per cent. In any case, if you charge an EV at home and have a tariff with a cut-price overnight rate, your day-to-day car running costs will still be extremely low.
With the eVED pay-per-mile tax still a while off (the additional, mileage-based tax for EVs and plug-in hybrids starts from April 2028), it really might be time to go electric car shopping. But the latest data isn’t necessarily a sign that values are about to skyrocket.
Chris Plumb, Solera CAP HPI’s head of valuations, said:
“What we’re really seeing is a recovery from previously depressed positions rather than a market running away with itself. In many cases these vehicles still represent excellent value for money and are becoming increasingly attractive to used car buyers as confidence in EVs continues to improve.
“It’s important to look beyond the percentages. Even after those increases, many of these vehicles remain relatively affordable. The MINI Electric is now around £12,700, the Peugeot E-208 sits at around £11,300 and the MG4 just over £13,000.”
Top 10 used EVs with biggest value increases
| Model | Six months ago | Latest value | Increase | Rise |
| MINI Cooper Electric (2019-24) | £9,905 | £12,710 | £2,805 | 28.3% |
| Tesla Model 3 (2019-24) | £18,375 | £22,188 | £3,813 | 20.9% |
| Polestar 2 (2019 onwards) | £18,057 | £21,822 | £3,765 | 20.9% |
| Cupra Born (2021 onwards) | £15,475 | £18,555 | £3,080 | 19.9% |
| Subaru Solterra (2022 onwards) | £13,350 | £15,925 | £2,575 | 19.3% |
| MG5 (2020-25) | £9,025 | £10,731 | £1,706 | 18.9% |
| Kia e-Niro (2018-23) | £12,867 | £15,233 | £2,367 | 18.4% |
| Volkswagen ID.3 (2020-24) | £12,648 | £14,870 | £2,222 | 17.6% |
| Peugeot E-208 (2019 onwards) | £9,593 | £11,262 | £1,668 | 17.4% |
| MG4 (2022 onwards) | £11,355 | £13,110 | £1,755 | 15.4% |
[CAP HPI data shows trade values for cars that are three years old with 30,000 miles on the clock]
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