Used EV Prices Drop 35% as 300K Lease Returns Boost Market Affordability

A wave of electric vehicles returning from three-year leases in 2025-2026 is flooding the used car market, causing prices to fall sharply by about 35% since 2022. This supply surge makes models like the Chevy Bolt and Nissan Leaf the most affordable car options in the US, driven by earlier federal EV tax incentives that lowered leasing costs. The influx of affordable, warrantied EVs may accelerate the shift from gas-powered cars, impacting used car sales dynamics and environmental transitions ahead.