What is your electric car worth when you decide to sell it?
Electric cars lose value in a different way than gasoline vehicles. The first year is brutal. After that, the depreciation curve flattens out faster than many expect. A three-year-old electric car can easily lose 40 to 50 percent of its new price, but from year four to year six, the loss is much smaller.
This makes timing more important than with a fossil fuel car. It also means that certain factors carry much greater weight than people realize when determining the price.
Battery health determines almost everything
Everything else is secondary to this. An electric car with 95 percent remaining battery capacity and one with 82 percent are two completely different cars in a dealer’s eyes, even if they are the same age and have covered the same distance.
Most electric cars display their State of Health somewhere in the menu or through an app. If you can’t find it, a repair shop can determine it for between 500 and 1,500 kroner. Take a screenshot and have it ready.
For reference, most modern electric cars retain 90 to 95 percent of their capacity after three to four years of normal use. A battery below 85 percent in a car that’s less than five years old is a warning sign, and you should expect the buyer to take it into account.
Your Charging Habits
This surprises some people. Frequent fast charging wears out the battery more than home charging, and several car brands report different usage patterns between the two.
A car that’s been charged using 150 kW chargers along the E6 highway generally has a worse battery lifespan statistically than one that’s charged overnight at wall outlets. There’s no need to hide this, but it’s worth knowing that the dealer can see it. If you’ve charged at home most of the time, mention it—it’s a significant advantage.
The Actual Range People Get
The WLTP figure on the brochure means little to a buyer. What really matters is how the car performs in Norwegian winters.
If you have actual figures, please provide them. It’s more reliable to state that the car covers 380 kilometers in summer and 260 kilometers in winter rather than using the manufacturer’s figures. Dealers who resell cars want the next owner to have realistic expectations, as they will be the ones dealing with complaints if not.
The model means more than you think
Some electric cars maintain their value remarkably well. Others drop in value sharply. It’s rarely about quality but more often about how many similar cars are on the market at the same time.
The Tesla Model Y has been Norway’s best-selling car for several years in a row. This creates high demand but also many competitors in advertisements. Niche models with fewer units can hold their value better, but it takes longer for them to sell.
The thing that drops fastest is the range according to today’s standards. A car with under 300 kilometers of WLTP range was good in 2019 and now competes with cars that achieve 500 kilometers. The market has changed, and prices have followed.
Where you sell determines both price and time
Selling privately on Finn gives the highest price if you find the right buyer. Expect three to eight weeks, and be prepared for everyone who contacts you to ask about battery health.
If you go to a dealer instead, the price is typically 10 to 15 percent lower, but you’ll finish in a few days. If you want to sell your car without spending weeks on showings, there are platforms where multiple dealers bid on the same car at once. This lets you get comparisons without having to drive around yourself. It’s also the easiest route if the car has a loan, since the dealer deals directly with the bank.
Five things to sort out before listing your car
Screenshot of the State of Health, or reading from the workshop
Service history, including software updates if documented
Actual range figures for summer and winter
Overview of which charging cables and equipment are included
Documentation of any battery replacement or warranty work, which is valuable for older cars
No matter which route you choose, get at least one specific quote before making a decision. If you don’t know the car’s condition, you have nothing to compare it against in a private sale. Selling the car to a dealer takes a few days, costs nothing to try, and you’re free to refuse.