Why luxury EVs are suddenly more attainable
As EV growth slows and automakers backpedal on new EV development, an interesting opportunity has arisen for savvy buyers seeking a luxurious, fun-to-drive EV at a fraction of its initial cost. Luxury EVs have suffered from some of the most rapid depreciation of any type of automobile in recent history, and while that’s a shame for early adopters and owners who believed their state-of-the-art EVs would hold their value, it’s perhaps a godsend for buyers who lusted after the wicked fast, strikingly designed EVs that were once vastly beyond the ceilings of their budgets.
To prove my point and to perhaps provide some guidance, I’ve put together a list of specific vehicles I’ve found for sale on CarMax. Each of these models is luxurious in its own way and offers genuinely mind-boggling performance. Each one is fully electric and, for the sake of my argument, is priced below $60,000 before applicable fees and taxes.
1. 2021 Porsche Taycan 4S: $54,998
Right now, a 2021 Porsche Taycan 4S is listed for sale at CarMax with 59,000 miles for only $54,998. That means, for about the same price as a brand new Ford Mustang Mach-E GT, you can have a lightly used Porsche saloon with 562 horsepower, a 4.0-second 0-60 mph time, adaptive air suspension, and over 200 miles of range. By comparison, a brand-new Taycan 4S with no options whatsoever will run you over $125,000. For that money, you could, quite literally, buy two pre-owned examples—and they aren’t even five years old yet. If you’re thinking about writing off the Porsche Taycan altogether because of its steep, six-figure price tag, take a look at what’s out there on the pre-owned market. You might have to settle for a configuration that differs somewhat from your own tastes, but that’s a worthy price to pay to avoid flushing tens of thousands of dollars down the toilet just to own a new one.
2. 2023 BMW iX M60: $56,998
CarMax
If electric SUVs are more your style, the BMW iX M60 is an eye-catching SUV that, despite perhaps not being everyone’s cup of tea in the styling department, offers an impressively dynamic driving experience, high-end comfort, luxurious features, and respectable range. Right now, a 2023 BMW iX M60 is listed for sale at CarMax with just 22,000 miles, with an asking price of $56,998. Its power figures are even more impressive than the Porsche Taycan 4S, boasting an astounding 610 horsepower and 811 lb-ft of torque sent to all four wheels, and the iX can rocket from 0-60 mph in just 3.6 seconds. It has a battery range of around 300 miles, and this particular example comes equipped with a panoramic moonroof, heated front and rear seats, and a Bowers & Wilkins premium sound system. By comparison, a brand-new BMW iX M70—the M60’s replacement—costs upwards of $111,500, so there is serious value here for only a fraction of the cost of a brand-new example.
3. 2021 Tesla Model S Plaid: $51,998
CarMax
Perhaps the most conventional choice when it comes to electric vehicles, there are plenty of deals to be had on second-hand Teslas, because there are just so many of them out there. If you’re after something truly special, however, the far more elusive Tesla Model S Plaid has 1,020 horsepower up its sleeve to get your heart racing. Using three electric motors to deliver its massive amount of rapid-response power, the 2021 Tesla Model S Plaid can launch from 0-60 mph in under 2 seconds—making it, by far, the quickest vehicle on this list. Right now, you can pick up a 2021 Tesla Model S Plaid with 59,000 miles for just $51,998 from CarMax. That’s only a few hundred bucks more than a brand-new Hyundai Ioniq 6 Limited for a sport sedan with over 1,000 horsepower. Let that sink in.
4. 2023 Mercedes-Benz EQS450 4MATIC: $47,998
Mercedes-Benz
At just $47,998, this 2023 Mercedes-Benz EQS450 listed for sale on CarMax is the least expensive vehicle on this list, despite being one of the most luxurious, and having the lowest mileage, with just 16k on the odometer. Disliked for its bulbous, egg-like proportions and steep, six-figure initial MSRP, the Mercedes EQS has seen values drop rapidly, which is good news for savvy buyers shopping in the pre-owned market. With 355 horsepower, 590 lb-ft of torque, around 300 miles of range, and all-wheel drive, all for a price tag of under $50k, the EQS450 4MATIC offers serious luxury value on the second-hand market.
5. 2022 Audi RS E-tron GT: $56,998
Kyle Edward
The Taycan’s baby cousin, the Audi E-tron GT, is a stark performer even in standard guise. The RS model, however, is a whole different beast. With up to 637 horsepower, 612 lb-ft of torque, and a 3.0-second 0-60 sprint time, this 2022 Audi RS E-tron GT, listed for sale on CarMax for just $56,998, even outperforms the Porsche Taycan 4S mentioned above. Plus, for less money than a brand-new Tesla Model Y Performance, you’d get a faster 0-60 launch, a Bang & Olufsen premium sound system, and a far more visually striking vehicle.
What to check before buying a pre-owned luxury EV
Before you go ahead and purchase a pre-owned EV, always make sure to do your due diligence. Check battery health and the remaining factory warranty balance, research extended warranty options and potential future repair costs, and be aware that batteries naturally degrade over time, so it’s quite possible that a five-year-old EV won’t live up to the original battery range rating. Like with any large purchase, simply make sure to cross your T’s and dot your I’s.
Kristen Brown
Final thoughts: Luxury EV ownership has never been this accessible
As EVs were once high-priced, state-of-the-art luxuries, savvy buyers can now benefit from these models having been on the market for quite some time now, and having depreciated accordingly. Even high-end, high-performance EVs, such as the examples mentioned above, can be found for a fraction of their initial cost, still boasting low mileage and upgraded features. The current automotive landscape, in which EV growth is declining and their general appeal is beginning to fade, is rapidly driving down the value of pre-owned EVs. If you keep your eyes peeled, you might just be able to take advantage of the situation and snag one of the best EVs the market has to offer for a screaming deal.
About the author
Cole Attisha
Staff Writer, Autoblog