Electric vehicles have really only been around in the market for, you know, five or ten years, and in large volumes only for a few years. Now, we’re starting to see more used electric vehicles come into the marketplace. Replacement battery costs are starting to be more of an issue. In one case, a family purchased an electric vehicle only to find out that replacing the battery costs more than the vehicle itself, just for the battery.
They bought a vehicle for eleven thousand dollars and discovered that the battery replacement cost was fourteen thousand dollars for the used EV Ford Focus battery. The question arises: What happens when the replacement battery costs more than the car? The costs may not be worth it, and the car may end up being scrapped. The dilemma becomes apparent: how does this happen, and what are the implications?
Electric vehicle batteries degrade over time. Most warranties on EV batteries state that as long as the battery is 70 percent of its initial capacity, it’s still valid. Understanding this is crucial, as warranty claims are typically not accepted unless they go below 70 percent. To avoid such situations, it’s essential to evaluate the battery on any electric vehicle before purchasing it. This process mirrors checking out the engine, brakes, and transmission on a gas car. You want to examine the capacity, remaining life, ability to charge up to full capacity, existence of error codes, and overall usage.
Various factors contribute to battery degradation beyond mileage or time alone. The speed at which the battery was charged regularly, the use of DC fast chargers, and environmental conditions (such as living in a hot or cold environment) can all impact how fast a battery breaks down. The potential buyers need to conduct due diligence. Ensuring that the battery is in good condition and worth the price paid for the vehicle is crucial. Checking the battery’s health is as important as inspecting the engine and other components in traditional vehicles.