4 min read
Hybrid and electric vehicles (EVs) are taking over the roads, but what happens when they’re ready for retirement? Do they hold their value, or do they end up like an outdated smartphone—full of valuable materials but too much of a hassle to deal with?
If you’re wondering about EV depreciation and whether hybrid car resale value holds up, you’re not alone. Let’s break it down.
What makes hybrids and EVs valuable?
At first glance, you’d think these high-tech rides would be worth more when scrapped. After all, they’re packed with advanced components, rare metals, and cutting-edge engineering. But does that actually translate to higher resale value?
Battery components: the real treasure chest
The battery is the crown jewel—and the biggest headache—of any hybrid or EV. These massive power packs contain lithium, cobalt, and nickel, all of which are valuable materials that can be recycled or repurposed. Sounds like a gold mine, right?
Well, not so fast. According to the U.S. Department of Energy, while the lithium-ion battery recycling industry is growing, the process is still costly and complicated. Not every junk car buyer is equipped to handle EV batteries, which means some will pay more for them—while others will pay nothing at all.
Scrap metal value: the aluminum advantage
Unlike gas-powered cars that rely mostly on steel, many hybrids and EVs are built with lightweight aluminum to boost efficiency. The good news? Aluminum is highly recyclable, which can bump up a hybrid or EV’s scrap value. The bad news? Scrap metal prices fluctuate, so timing is everything.
When are hybrids and EVs worth less?
As cool as hybrid and electric cars are, they aren’t always the golden ticket in the junk car market. Sometimes, they can be even harder to sell than a gas-powered clunker.
A blown engine in a gas car? Still worth something. A dead EV battery? That’s a different story.
According to Motor Trend, EV battery replacements can cost anywhere from $6,500 to $20,000—a number that makes junkyards and scrappers think twice before taking them on. A non-functioning battery kills resale value, and disposal isn’t always simple.
Limited buyer market
Not every junk car buyer is set up to deal with EVs and hybrids. Many traditional salvage yards stick to gas-powered vehicles because they’re easier to process. If your local junkyard doesn’t have the tools to handle high-voltage batteries and electric drivetrains, you might get low offers—or none at all.
Should you junk your hybrid or EV?
If you’ve got an old hybrid or EV sitting in your driveway, selling to the right buyer makes all the difference. Some buyers specialize in these vehicles, while others won’t touch them at all.
Sell your hybrid or EV to Peddle
The good news? Peddle gives you a fair, legit offer, even if your battery is dead. No haggling, no waiting, and no dealing with buyers who “just need to check with a friend first.”
Just enter your car’s details, get an instant cash offer, and schedule a free pickup—towing’s on us.
The best part? You get paid fast. No stress, no fuss—just cash in your pocket. Get your offer today and see what your hybrid or EV is really worth!
