Used EV sales are surging — how their ownership costs compare to gas-powered cars

used ev sales jumped 27.7% in march from a year earlier, and 53.9% from february, per cox automotive. the surge is partly driven by three-year leases ending — most leases happened between late 2022 and 2023, and those cars are now hitting dealer lots "in droves," said edmunds analyst joseph yoon. the share of evs in lease returns is expected to hit 8% in 2026, up from 2% in 2025. the average used ev sold for $34,653 in march, down 6.1% year-over-year. that's only $1,102 more than the average used gas car ($33,641). a year ago, the gap was $3,923. "price parity is getting close," said cox's stephanie valdez streaty. 44% of used evs sold for under $25,000 in march, up from 39% in december. all this despite the loss of federal tax credits — up to $4,000 for used evs — which ended september 2025 under the one big beautiful bill act. ownership costs differ. home charging costs about $59.66/month for 1,015 miles, vs $147.24 for gas at 30 mpg and $4.09/gallon. public fast charging runs $169 for the same mileage. evs skip oil changes and brakes last longer due to regenerative braking, but tires wear faster from the weight. collision repairs average $6,395 for battery evs vs $5,105 for gas cars. insurance averages $4,058/year for evs vs $2,732 for gas. battery warranties typically run 8-10 years or 100,000 miles, and most are transferable. a new battery can cost $5,000-$15,000.