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Used electric car prices will soon fall which could break down one of the biggest barriers among petrol and diesel owners, according to experts.
Lucy Tugby, marketing director of eBay Motors, has claimed second-hand costs will drop as the wholesale values of models fall.
This will lead to dealerships taking on more used models with savings eventually passed onto customers.
Heavy upfront costs are still one of the biggest reasons why road users are hesitant to switch away from internal combustion petrol and diesel cars.
A new poll from eBay Motor Group’s Consumer Insight Panel identified that 43 percent were worried about costs.
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Ms Tugby explained: “With rising new EV registrations gradually generating more volumes in the used market, buying second-hand is becoming a realistic consideration for a growing number of car buyers.
“Our research shows how two in three decision makers considering buying an EV as their next car will realistically think about buying used, although the actual cost of purchase remains a significant barrier for many.
“However, we believe this will be gradually addressed by the ongoing downward realignment of wholesale values which in turn will give dealers more confidence to source EV stock and pass on savings to customers ready to transition away from petrol and diesel.”
The latest research shows that almost two-thirds of motorists (65 percent) who were considering an electric car expected to buy a second-hand model over a new one.
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Interest in buying a used EV was highest among current petrol and diesel owners with 81 percent considering making the move.
However, the analysis of 2,000 individuals found there were still a variety of reasons holding people back from making the jump to EVs.
A whopping 28 percent said they were concerned about maintenance and servicing costs with 15 percent concerned about lower resale values.
Worries over the quality and performance of batteries were also a factor holding back around 43 percent of the market.
But, Ms Tugby has tried to reassure road users who may be on the fence over the issue.
She added: “Concerns over battery life are understandable but generally unfounded as the latest generation of EVs enter the used market.
“Dealers will have a role to play to help alleviate these concerns, a task made easier by the OEMs who have extended warranty cover on their batteries.”
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