Unhappy by high gas prices? Why experts are recommending used electric vehicles
Gasoline prices are averaging $4.43 a gallon, according to AAA data.
U.S. consumers are paying a lot more to fill up their cars and trucks these days, and the spike in gasoline prices has some debating: Is an electric vehicle right for me?
The national average for a gallon of regular gasoline jumped nearly 30 cents in the past week to $4.43, according to AAA. Prices will likely rise even more as the Strait of Hormuz remains closed.
According to a recent ABC News/Washington Post/Ipsos poll, 15% of U.S. consumers are considering buying an EV because of high gas prices.
Robby DeGraff, manager of product and consumer insights at AutoPacific, said now is the right time for consumers to trade in their vehicles for an EV, especially one that's recently come off a lease.
"You can find a gently used, newer Chevrolet Bolt, Nissan Leaf or even a Tesla Model 3 for not a lot of money," he told ABC News. "Upping one’s budget even slightly brings you into used Hyundai Ioniq 5, Kia EV6, Ford Mustang Mach-E, all of which are just enticingly strong products."
Drastic swings in gas prices have previously persuaded motorists to seek out vehicles that are more fuel efficient, DeGraff noted.
"In the past, whenever we’ve seen a major geopolitical event that spikes gas prices, there are two common consumer behaviors: downgrading to a different vehicle segment -- something smaller, more efficient, more cost-effective -- and changing over to a cleaner alternative powertrain," he said. "The jump we’ve seen that really triggers powertrain consideration is a $2-per-gallon increase from where gas is it at now."
With the expiration of the EV federal tax credit, consumers will likely have to pay the full MSRP of a new EV. Moreover, deals and discounts on EVs are hard to come by; automakers have significantly reduced inventory since last fall and some brands are shifting production away from EVs entirely.
Tesla, the top seller of EVs in the U.S., is enticing consumers with 0% APR on its popular Model Y model. Lucid, which makes the high-end electric Air sedan, is advertising 0.99% APR for 60 months.
"It's life or death for Tesla ... the company needs inventory on hand," Tyson Jominy, vice president of data and analytics at J.D. Power, told ABC News. "Tesla does not have an ICE [internal combustion engine] portfolio to fall back on."
Jominy pointed out that new EV inventory is down 80,000 units from a year ago. Used electrics may be a lot cheaper, but many are not equipped with the NACS charging port, which has become an industry standard.
"The challenge with EVs remains the same -- they're not for everyone, they're not for people who drive long distances or rent [a home]," he said.
He recommended that consumers keep their current vehicles and ride out the price gyrations and anxiety: "A trigger point for a new car should not be fuel economy."
Ivan Drury, director of consumer insights at Edmunds, agreed with that view, arguing that fuel economy should not be the only reason for buying a new car.
"If you're shopping purely on fuel economy, you could end up with something that doesn't work for your lifestyle," he told ABC News.
These high gas prices have "people thinking about EVs again," he said, adding that prices at the pump haven't translated into a ton of sales yet. "Just a lot window shopping of EVs," he said, adding, "The $7,500 federal credit super-charged sales."
Like DeGraff, Drury said used EVs are consumers' best bet; some older models are 40% to 60% cheaper than the original MSRP. According to Drury, the average transaction price of a new EV in the first quarter of 2026 was $57,099 compared to $31,153 for a 3-year-old EV.
"The used market is where people should be looking," he said. And worries over a used EV's battery are unwarranted, he argued.
"Studies show the batteries last longer and EVs have an eight-year/100,000 mile warranty," he said.
Columbia Business School professor Gernot Wagner said more Americans will ultimately adopt EVs despite the roadblocks that are hindering ownership.
"The current U.S. government doesn't exactly make it easy," he told ABC News. "We have all but priced the cheapest EVs out of the market, in an attempt to protect domestic car makers. Charging infrastructure is still lagging behind most of Europe, China, and elsewhere. All of these barriers, of course, are just temporary."
He went on, "It's clear that EVs are the more efficient, better, and increasingly cheaper technology. And technologies, by their very nature, can only get even better and cheaper over time."
If gas prices stay elevated for more than a year, consumers may finally have no choice but to look for alternatives.
"Price pressure influences decisions most when it lasts long enough to intersect with a natural replacement trigger -- a lease expiration, an aging vehicle, or rising maintenance costs," she told ABC News. "Weekly data show that EV shopping interest increased week over week in mid‑April, with the week ending April 19 marking the highest EV shopping level year‑to‑date. That said, the pattern still looks like short‑term curiosity rather than a step‑change in buying intent."
She added, "With consumer confidence under pressure, many households that don’t need to purchase will continue to wait."
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