Electric vehicle bargains emerge as taxi fleet expert shares second-hand buying tips
- Perry Richardson
- Jul 21
- 2 min read
Updated: Jul 29
A leading taxi fleet expert has offered insight into the second-hand electric vehicle market, noting that now could be a prime time for cab drivers looking to buy an electric vehicle (EV) at a reduced price.
Writing in TAXI magazine, the expert explained that while depreciation is usually the biggest cost in car ownership, London taxi drivers have been somewhat shielded from this due to the strong residual values of TXEs. However, with private EV values now dropping sharply across the wider car market, opportunities are starting to appear.
The expert noted: “Cars that were £60,000, £70,000 or even £80,000 three years ago, can now be picked up from around the £20,000 mark. They are high spec, high tech and, three years in, are software sorted, reliable and, with a home charger, are dirt cheap to run!”
This comes as second-hand EVs remain slow sellers outside of London, where public interest and charging infrastructure are more limited. Dealers in the regions are struggling to shift used electric stock, making them more open to negotiation, especially from buyers based in the capital.
Autotrader and similar platforms are a good place to begin the search, says the fleet expert. However, they advise not to ignore vehicles listed further afield, as cars located away from the London area are often priced more competitively and sellers are more likely to accept a lower offer.
The expert also encouraged drivers to understand vehicle specifications before buying. “Look into what extras were offered when the car was new. The price difference between a top-spec and base model now is minimal, but that wasn’t the case when they first went on sale. You might be able to get a much better car for not much more money,” they advised.
When it comes to brands, some of the German models have depreciated further than rivals like Tesla, but their interiors tend to age better, with higher build quality becoming more noticeable over time.
Recent auction visits confirm the trend. EVs from Hyundai, Kia and MG are selling well below retail price at trade events. Dealers remain cautious, fearing slow resale rates — but for the informed buyer, this presents an opportunity.
“If you are looking at buying a car, there has never been a better time,” the expert concluded.
LATEST PREMIUM STORIES
