As we explained in one of our latest filings, candidates for a new electric car have nothing to fear in terms of battery life. These typically last 10-20 years – so you’ll likely be changing cars long before you notice any real battery problems.
True, the maximum capacity of the batteries decreases with time. But this drop in capacity is very slow and depends on many factors such as temperature, if you charge it fast often and if you can keep the charge in the optimum range 20% – 80% at all times. Additionally, on both new cars and used cars purchased from dealerships, The life of the item is guaranteed by the manufacturer’s warranty.
There are ‘guarantees left’, but only through official purchasing channels
In Tesla, for example, there is Remaining Standard Limited Warranty 4 years or 80,000 km on used vehicles. So it is recommended that you be well informed about this point when purchasing. But here it is: What if you bought your electric car away from the crowds? What financial risks do you incur in the event of a battery failure? This is a real topic in 2022, especially because of the war in Ukraine, the price of gasoline and diesel is going up.
And consumers are being pushed like never before to replace their thermal car with an electric one. However, with increased demand, and global logistical difficulties, the usual circles have become saturated. Delivery times for new vehicles sometimes exceed 12 months. The traditional supply of second-hand items is starting to run out and many sellers have reported that they have been able to sell their cars within a few days.
As a result, more and more people are taking the risk of purchasing an electric car by other means, for example directly from one individual to another, or via third-party sellers, without consent. In these cases, the remaining warranty for the battery often comes out. As a result, it becomes legitimate to ask what would happen in the event of a malfunction. But don’t panic: It is unlikely that your used car battery will suddenly fail.
Why your car battery is less likely to crash
The first main point to stress is that electric car batteries do not suddenly fail. These components are designed to be highly durable and flexible. Instead of a battery that drops to 0% charge one day, the only real danger is that the maximum capacity continues to degrade over time. In general, maximum capacity deterioration is faster in the early years than in the rest of the vehicle’s life.
Besides, we can clearly see that most of the electric cars produced during the last ten years are still in service, which indicates that this element is more durable than some might think. In fact, you will only be charged with a battery life issue if you buy a used car and take its life to the limit. As we suggested above, it is possible to slow down this erosion as much as possible.
In particular, it is necessary to avoid fast chargers, to avoid temperature extremes, and above all to avoid charging the battery above 80% and letting the charge drop below 20%. Under these conditions, reducing the maximum capacity will be much slower and you will be able to drive longer without having to save money to replace your electric car battery.
Replacing an electric car battery remains expensive, but costs are dropping very quickly
There is relatively little accurate information about the cost of battery replacement for all models of electric vehicles. But we know the prices of some of the references and our colleagues from Bloomberg have provided some dollar prices. For example, replacing the battery in a Tesla Model 3 costs about 15,000 euros. But it can reach €23,000 for the most expensive battery pack. Bloomberg also points to the 65 kWh Chevy Bolt package that costs $8,905 to replace. Everyday claims that some of the modest capacity models actually have much lower replacement costs
But it is worth noting that these prices are dropping surprisingly quickly. In 2010, the cost per kilowatt-hour for this type of battery was more than $1,000. But by 2016, the cost per kilowatt-hour of an electric battery had already fallen to around $230 — and averaged $132 in 2021 (source: visualcapitalist). Of course, we’re talking about averages here. It all depends on the manufacturer of these batteries, and therefore on the make and model of your electric vehicle.
In China, for example, some manufacturers claim it has already fallen below $100/kWh. It is a safe bet that the entire industry will reach this threshold gradually from 2023 and that costs will fall further in the coming years. Besides the new electric car batteries, we should also talk about an alternative that should appeal to the tightest of budgets. It is already possible Replace your used electric car battery… with a used battery.
In this case, depending on the characteristics of the replacement part, it is possible to increase the range of your electric car at a much lower cost. Even if it still depends on the number of charge cycles of the item and whether the battery still benefits from the famous residual warranty. So, are you ready to take the initiative to buy a used electric car? Share your opinion with us in the comments on this article!