IF you're thinking of charging into the electric car market for the first time, your best bet might well be to go for a pre-owned, top-end model according to new data which shows that average retail prices of second-hand EVs are cheaper than petrol and diesel models from the same model family.

New EVs can be significantly more expensive than their closest petrol and diesel equivalents but, according to the latest data from vehicle history check and valuation specialist HPI, used EV values have fallen sharply in the past two years to provide motorists with potential bargains.

On average, values of used EVs have halved since September 2022, says HPI. For models such as the Jaguar i-Pace, Mercedes EQC and Tesla Model X, this can equate to well over £20,000 less than in the summer of 2022 and for cars like the Porsche Taycan, up to £40,000 less, making previously unobtainable cars a real option for more consumers.

The data from HPI suggests that three-year-old EVs are cheaper than their petrol and diesel equivalents by around 8.5 per centand some 14 per cent cheaperat fouryears old.

Chris Plumb, EV specialist at HPI, says: "The growing availability of second-hand electric models is driving demand as motorists want to reduce their environmental footprint and make significant motoring cost savings due to high diesel and petrol prices."

Sales of used electric cars were 71 per cent higher in the first quarter of 2024 than in the same period last year and sales of used hybrids are also increasing significantly, according to HPI. More than 41,500 pure electric cars were sold on the used market in the first quarter of this year alone,

With lots of often confusing and conflicting information already in circulation about EVs, HPI has produced a guide which, the company says, simplifies everything first-timers need to know about EV ownership and how to approach the buying process.It's available from hpi.co.uk.