A Used EV Flood Is Coming — And It Could Finally Make Them Affordable

The used EV market is about to get very interesting

For years, the honest critique of electric vehicles wasn't range anxiety or charging infrastructure — it was the price tag. That objection is about to take a serious hit.

According to Cox Automotive, 123,000 EV leases expired in 2025. That number more than doubles to 300,000 in 2026, then doubles again to 600,000 in 2027 and 660,000 in 2028. Since most leased vehicles flow directly into the used car market, we're looking at over a million used EVs becoming available in just a few years. That's not a trickle — that's a flood.

Here's why that matters more than any new model announcement: 76% of cars sold in the US are used. The used market isn't the consolation prize — it's where most Americans actually buy their cars. When EVs saturate that segment at competitive prices, mass adoption stops being a talking point and starts being a Tuesday afternoon at a dealership.

The irony is that the lease model — designed to keep people cycling through new cars — might accidentally be the best thing that ever happened to EV accessibility. Middle-income buyers who couldn't touch a $45,000 new EV might be very interested in a well-maintained 3-year-old one at half the price. Watch this space closely: 2027 could be the year the EV conversation fundamentally shifts.

Source: The Verge