Lower Insurance Policy on Used Electric cars Mittie Orozco May 13, 2021 Featured Buying a new electric car can translate to a total waste of money. A new electric car, apart from electric carrying a high price tag, also attracts many hidden fees charged by both the government and the dealers. You will never have to worry about many of the fees when you check electric cars for sale in san diego. A used electric car will help you to save money and it can last for years to come. However, you need to properly maintain it if you must get the desired value from the electric car. Apart from the age, there is not much difference between a new and a used electric car. Will it interest you to know that the value of a new electric car starts depreciating from the day you start using it? In fact, it can depreciate by up to 11% in the first day of use. So, you will agree that there is rarely any economic sense in buying a new electric car since there are used or refurbished ones around that can offer you an almost similar value at a highly affordable rate. Continue reading to learn more about what you can benefit when you buy a used electric car as opposed to a new one. Lower insurance premium The cost within electric cars for sale in san diego is low, same for the fees you will have to pay on such electric cars. In fact, you may get the used electric car for 50% of the price of the new one. Aside from the above, you will also be charged a low insurance premium on a used electric car as opposed to a new one that attracts high insurance premium; this is aside the many fees you will have to pay to the government and the dealers after purchasing the new electric car. If your new electric car get involved in an auto crash, the insurance company will only pay you the worth of the electric car at that particular time, which would have reduced in value by that time; this payment policy used by the insurance company will end up leaving a gap between the current worth of the vehicle and the actual price you paid to buy it. if you want to cover the difference, you will have to register for a gap insurance, but this will end up costing you more money on insurance premium. Depreciation has already occurred in a used electric car. As a result, it does not require gap insurance. This is yet another unique benefit that makes used electric cars in San diego the better option for anyone living on a budget.