People planning to buy a car or trade in their ride in 2026 could see some great deals, according to some experts – at least when it comes to electric vehicles (EVs). Despite the fact that a $7,500 tax credit for new EVs was eliminated, Experian points out that 12% of new EVs were leased when the credit was first offered, and by the end of 2024, that number soared to more than 50%. Now, those two- and three-year leases are about to end, likely creating a surge in the inventory of used EVs on car lots that should continue through the next year or two. When supply beats out demand, prices drop.
Switching from a gas engine to a battery might be a lifestyle change that many car buyers are hesitant to make, but Brian Moody, automotive expert and analyst for Kelley Blue Book thinks hybrid vehicles might also become more popular as more people look at used EVs.
On the flipside, if you currently own an EV that you might be trading in for another car down the road, you should probably consider doing it sooner than later, Experian explained, as the value may decrease once all of those EVs go off lease.
Source: NBC 7 San Diego
