After further research discovered the fact that Battery life for electric vehicles is increasing and better charging habits will add to that, another study strongly suggests that those looking for the most budget-friendly car in 2026 should look to the potentially large inventory of used EVs hitting the market.

Three-year-old used electric vehicles are cheaper to own than new or used gasoline cars over a 10-year life, according to a study published on January 27 and sponsored by the Responsible Battery Coalition, the State of Michigan Department of Labor and Economic Opportunity, and the University of Michigan Electric Vehicle Center.

Factors in the study include the purchase price, the cost of adding a Level 2 charger to the home, ongoing ownership costs such as fuel, insurance and routine maintenance, and the final value of the vehicle after ten years. While full EVs cost less than what the window sticker indicates they cost when new, the study found that the sharp price drop from the first three years was much slower thereafter. Prices then follow the same trend as equivalent gas or hybrid cars. And anything with a gas engine has significant maintenance costs for the remaining seven years of ownership that require a greater cost to the owner as the vehicle ages, such as a $3,700 difference for some vehicle types.

The study did not focus on particular models, instead focusing on an amalgam of models of a particular type of vehicle, but since many EVs are comparable to gas or hybrid compact and midsize SUVs, and are one of the most popular types of vehicles sold in the US today, the savings over the expected 10-year life of a vehicle is determined to be somewhere between $6,700 and 000 electric vehicles.

The study’s findings are especially important now that analysts are predicting a significant inventory of three-year-old, off-lease EVs hitting used car lots this year. JD Power’s senior vice president of data and analytics, Tyson Jominy, told Gizmodo a month ago that heavily subsidized leases for cars like the Tesla Model Y and Volkswagen ID.4, and discontinued cars like the Ford F-150 Lightning and Nissan Ariya, could do it. a buyer’s market for used EV buyers.

Dealers “still want to get cars off their lots,” Jominy said.

The average age of a car on US roads is about 13 years, according to S&P Globaland some of the oldest Nissan Leafs and the Tesla Model S will soon be discontinued Examples are around that age, too, and have gone upwards of 200,000 miles. Consumers have already found the Tesla Model 3 and Model Y to be good value as starters the owners unloaded them as soon as possible. That said, there will likely be plenty of good EVs in heavy supply by 2026 that dealers can’t wait to get rid of, which is good news for most buyers.