Bargain hunting? The seven best used EVs under $40,000 in 2025

February 10, 2025February 9, 2025 Iain Curry 1012 Views 0 Comments best value ev, cheap EV, used electric car, used EV, used ev australia

Electric car resale value has been a hot topic of late, and as new and used EV prices fall, it’s created a tempting buyer’s market.

Here’s our list of the seven best pre-loved EVs you can buy for under $40,000, for families, city folk, cheapie chasers, tech lovers and more.

Numbers quoted here are based on research at Carsales and Facebook Marketplace.

Best range hero EV: Hyundai Kona Electric (2019-22) from $26,000

Range anxiety’s a barrier stopping people jumping into EV ownership.

But Hyundai is here to allay your fears, with the Kona small SUV’s range a sizeable 449km, but just as importantly, trustworthy too.

We’ve done countless road reviews where claimed range is comically overly-optimistic, but our Kona Electric tests have always resulted in impressive truth-telling.

We once ran one from full to completely empty, and it managed a perfectly as-claimed 450km. Its 64kWh battery’s charge speed is up to 100kW using public DC stations.

The Kona’s a fun thing to steer, there’s a mighty 395Nm going through the front end (expect spinning wheels unless you fit better tyres), and if you find a Highlander or Launch Edition, there’s decent luxe added to the otherwise too-plastic interior.

There are dozens of used Kona Electrics for sale from only $26,000, while Extended Range new generation examples (from 2021) cost from around $33,000. Solid buying.

Best tech experience EV: Tesla Model 3 (2019-22) from $29,000

The world’s best-selling EV until the Model Y sister car arrived, and for good reason.

Musk’s antics may put you off, but the Model 3 is clever, fast, and entertaining. It’s also the easiest EV to live with when public charging – the Tesla Supercharger network bests the rest, and you can still charge it at other public chargers.

There are over 100 used Model 3s on sale for under $40k, while a few dip below the $30k mark.

There’s a minimalist interior, but you’re treated to a giant touchscreen, video games, streaming services, Caraoke, and even farting indicators. The kids love that stuff, plus family space isn’t half bad.

Even Standard Range models offer an excellent 470km between charges, proving how far ahead of the game Tesla has been for so long.

Negatively, a stingy four-year/80,000km warranty means some used examples are out of cover.

Plus you’ll be an EV sheep in a Model 3, especially if you get a white one.

Best near-new EV: MG4

The MG4 is the best electric product from the Chinese brand, and if you’re interested, it’s hard to advise against buying a brand new Excite 51 version at $34,990 drive-away.

For that you get a sharp-looking small SUV with 5 Star ANCAP and 10 year warranty, 350km range and a reasonable amount of features.

Of the ‘used’ ones, some MG4s being sold as ex-demos have only 10km showing, and are offered for $33,600 on the road.

Longer range Excite 64 and Essence 64 with fancier cabins can also be had with a few thousand on the clock, and still for well under $40k.

Unlike many MGs, the MG4’s a fun and competent little thing to steer, helped by being rear-wheel drive and having fair shove from a 125kW/250Nm motor.

Numerous deals in recent months mean it’s worth haggling the price on a new or near-new example.

Best El Cheapo EV: Nissan Leaf ZE1 Second Gen (2018-2022) from $16,000

An EV pioneer, the first generation Leaf (from 2012) is one only for the desperados.

Electric range wasn’t great from new, and battery degradation means some pop on the market from around $6000. Sounds appealing for an entry into EV life, but many struggle to manage 100km between charges.

It’s a different story with the ZE1 second gen Leaf from 2018. Cheapest are from $16,000, and you may still get close to the original 270km promised range.

It’s comfy, easy to drive, roomy and quite refined, although it’s a pretty dull interior and drive experience.

Another negative is its DC charging port is the Japanese CHAdeMO plug, which isn’t always found at public stations.

But if you don’t need mega range and are happy to home charge, there’s decent value with this stalwart Nissan.

Best family EV: Kia Niro EV S (2022-23) from $39,000

The best family EV in the circa $40-50k price range is the Tesla Model Y, but on the used market the cheapest is still $46,000 – too rich for our sub-$40k rule.

A perfectly pragmatic choice instead is the Kia Niro S EV. There’s not many around, but you can snare a low-kilometre one for just under $40,000.

A new one’s roughly $70k drive-away – which is way too much – but a two-year-old one for a number starting with ‘3’ looks damn good value.

It’s highly suited for families with its surprisingly massive interior and roomy boot; it’s comfy to sit and ride in, there’s tech aplenty and the 64.8kWh battery offers a solid (and trustworthy) 460km range.

Families don’t like unexpected bills, and Kia’s 7-year/unlimited-kilometre warranty (limited to 150,000km for the high voltage battery) is good peace of mind.

The Niro doesn’t have the appeal of a Model Y or Hyundai Ioniq 5, but live with one and it’s a very convincing family hauler.

Best ‘classic’ EV: BMW i3 (2014-17) from $22,000

Correctly regarded as a car ahead of its time, these now decade-old quirky i3s are seriously cool luxury EV usedies.

There are range extender versions with a little two-cylinder petrol engine, but city dwellers should target the full EV.

A 22kWh (60Ah) version with 190km range can be had from $22,000, while later 33kW (94Ah) examples offer 300km range, and are typically around $30k.

But there’s risk here. All but the very latest i3s have an 8-year/100,000km battery warranty which is now expired.

But benefits include quality BMW engineering, fun drive experience with impressive handling and looks that shame most modern EV designs.

The interior’s surprisingly spacious, with rear seats accessed through suicide doors.

Some battery issues have been reported, but find a good one and it’s hard to see values of these brilliant i3s fall much further. Future classic? Guaranteed.

Best wildcard EV: Jaguar I-Pace EV400 (2018) from $39,000

2019 Jaguar I-Pace: risky used EV, but very damn cool.

Okay, so there’s only one I-Pace we’ve found under $40k right now, but it could compel others struggling to shift theirs to drop down a bit.

These Jags are large SUVs (although not the roomiest), offer startling performance from two 147kW/348Nm motors, hit 100km/h in 4.8 seconds, and an 85kWh battery gives 446km range. DC Charge speed of 104kW isn’t bad, either.

Solid stats, and the Brit’s a used EV that’ll stand out far more than the too-ubiquitous Teslas.

They look good inside and out, and offer a decent blend of comfort and competent handling. There’s still a chunk of the 8-year/160,000km battery warranty too.

Which is reassuring, as some owners have reported reliability and parts issues.

But what a luxo gamble to take, not least with the $100k drop in price in just six years.

Iain Curry

A motoring writer and photographer for two decades, Iain started in print magazines in London as editor of Performance BMW and features writer for BMW Car, GT Porsche and 4Drive magazines. His love of motor sport and high performance petrol cars was rudely interrupted in 2011 when he was one of the first journalists to drive BMW's 1 Series ActiveE EV, and has been testing hybrids, PHEVs and EVs for Australian newspapers ever since. Based near Noosa in Queensland, his weekly newspaper articles cover new vehicle reviews and consumer advice, while his photography is regularly seen on the pages of glossy magazines.