Do Electric Vehicles Retain Their Value?

No matter what type of BMW car you buy, depreciation is a reality that cannot be avoided. If you’re new to owning a car, depreciation can be defined as the phenomenon where a vehicle slowly loses its value over time. Depreciation occurs the most during the first few years of ownership, slowly steadying off over time.

One of the most common questions that we receive here at BMW of Wesley Chapel is whether electric BMW cars retain their value or depreciate in a similar way that gasoline-powered cars do.

Electric Car Depreciation

Just like gas-powered cars, electric cars depreciate over time. Depreciation refers to the difference between the worth of a vehicle from its initial purchase to its sale. Overall, all cars depreciate by somewhere between 15 and 35 percent in the first year. The average new vehicle loses around 60 percent of its value after the first three years.

However, there are a number of factors that go into how much a BMW i4 or other electric BMW car retains its value.

• Mileage
• Condition
• Brand of vehicle
• How often it was serviced

Because electric cars are a relatively new phenomenon, there is not as much data on how well they retain their value. However, we do know that premium brands, such as BMW, that make electric vehicles hold their value for more than lower-end brands. This is due to the fact that luxury cars like BMW cars are constructed with higher-end parts that are designed to last longer and retain their quality and value.

Shop our large selection of BMW EV coupes and SUVs here at BMW of Wesley Chapel.