Should I Sell My EV?

Cost example updated November 4, 2026

The answer up front

The test is cash, not feelings. Selling hands you cash today. Keeping hands you 5 more years of running costs. Selling wins only if the replacement's 5 year cash cost is less than the keep cost plus the selling cash: $22,008 plus $18,997 equals $41,005. End values are left out on both sides. The old EV's value in 5 years and the replacement's value in 5 years are both unknown, so neither side claims them. If the replacement holds value better, selling looks better than the cash test shows. If it holds value worse, keeping looks better.

Formula

Step 1, what the EV is worth today. iSeeCars 2026 study of more than 950,000 five year old cars puts the Model Y at 57.8% lost, or $26,020, on an implied original price of about $45,017. That leaves $18,997, or 42.2% kept. The division: $26,020 divided by 0.578 equals $45,017, and $45,017 minus $26,020 equals $18,997. What you owe decides what selling hands you, because equity is value minus balance. Owe $10,000 and the equity is $8,997. Owe $15,000 and the equity is $3,997. Owe $18,997 and the equity is $0. Owe $22,000 and the equity is negative $3,003, which means selling requires covering the $3,003 gap at closing or rolling it into the next loan.

Step 2, what keeping it costs over the next 5 years, same Model Y, 12,000 miles a year, using the Model Y door own running costs. Charging: $3,308. At 25 kWh per 100 miles and 12,000 miles a year, the car uses 3,000 kWh a year. At a blended 22.05 cents per kWh, 85% home charging at 18 cents and 15% public fast charging at 45 cents, that is $661.50 a year, or $3,308 over 5 years. Insurance: $13,200, at $220 a month. Upkeep: $5,500, at $1,100 a year. Total: $22,008 over 5 years, about $367 a month. Charging mix moves the total. Home charging only, at the EIA August 2026 residential average of 18.16 cents per kWh: 3,000 kWh a year is $544.80 a year, or $2,724 over 5 years, for a keep total of $21,424. Public charging only, at the Paren third quarter 2026 national DC fast charging average of 54.0 cents per kWh: 3,000 kWh a year is $1,620 a year, or $8,100 over 5 years, for a keep total of $26,800.

Step 3, what a replacement has to beat. If the car is owned outright, selling nets $18,997 today. Add the keep cost of $22,008 and the break even replacement budget is $41,005 over 5 years, about $683 a month. A replacement whose 5 year cash cost, purchase price plus running costs plus interest with end value left out, comes in under $41,005 beats keeping on cash. A replacement over $41,005 loses to keeping on cash. By charging mix: home charging only, keep $21,424, break even $40,421; blended charging, keep $22,008, break even $41,005; public charging only, keep $26,800, break even $45,797. If a loan remains, replace $18,997 with your equity figure from step 1 and redo the sum. End values are left out on both sides, and further value loss in years 6 to 10 is left out too, because no published segment figure covers those years, so treat $22,008 as a floor, not a full cost. Battery capacity loss, Geotab 2026 at 2.3% a year on average, is capacity, not value, and this page does not turn it into a price.

This page is the sell decision. The buying side, battery inspection, charging, and insurance, lives on the used EV guide. The depreciation numbers by model live on how fast used EVs lose value. Charging costs on the road live on EV road trip charging cost.

Step 1: what your EV is worth today

iSeeCars' 2026 study of more than 950,000 five year old cars puts the Model Y at 57.8% lost, or $26,020, on an implied original price of about $45,017. That leaves $18,997, or 42.2% kept. The division: $26,020 divided by 0.578 equals $45,017, and $45,017 minus $26,020 equals $18,997. That $18,997 is the starting point for the whole test.

What you owe decides what selling hands you. Equity is value minus balance.

• Owe $10,000: equity $8,997
• Owe $15,000: equity $3,997
• Owe $18,997: equity $0
• Owe $22,000: equity negative $3,003, which means selling requires covering the $3,003 gap at closing or rolling it into the next loan, which raises the next payment

This page does not put a number on the trade in versus private party gap, because no single published figure covers it. Get both quotes and use your own two numbers in place of $18,997 above.

Step 2: what keeping it costs over the next 5 years

Same Model Y, next 5 years, 12,000 miles a year, using the Model Y door's own running costs.

• Charging: $3,308. At 25 kWh per 100 miles and 12,000 miles a year, the car uses 3,000 kWh a year. At a blended 22.05 cents per kWh, 85% home charging at 18 cents and 15% public fast charging at 45 cents, that is $661.50 a year, or $3,308 over 5 years.
• Insurance: $13,200, at $220 a month. Full coverage averages for a Model Y cluster between about $212 and $221 a month in the Model Y door's sources.
• Upkeep: $5,500, at $1,100 a year. Edmunds' 2026 Model Y work puts 5 year maintenance at $2,299 plus $2,364 in repairs, and this example adds room for a set of tires inside 60,000 miles.
• Total: $22,008 over 5 years, about $367 a month.

What is missing, stated plainly: further value loss in years 6 to 10. No published segment figure covers those years for EVs, so this page does not put a number on it, and the keep total excludes it. Leaving it out favors keeping, so treat $22,008 as a floor, not a full cost. Battery capacity loss, Geotab 2026 at 2.3% a year on average, is capacity, not value, and this page does not turn it into a price.

Charging mix moves the total. Home charging only, at the EIA August 2026 residential average of 18.16 cents per kWh: 3,000 kWh a year is $544.80 a year, or $2,724 over 5 years, for a keep total of $21,424. Public charging only, at the Paren third quarter 2026 national DC fast charging average of 54.0 cents per kWh: 3,000 kWh a year is $1,620 a year, or $8,100 over 5 years, for a keep total of $26,800.

Step 3: what a replacement has to beat

If the car is owned outright, selling nets $18,997 today. Add the keep cost of $22,008 and the break even replacement budget is $41,005 over 5 years, about $683 a month. A replacement whose 5 year cash cost, purchase price plus running costs plus interest with end value left out, comes in under $41,005 beats keeping on cash. A replacement over $41,005 loses to keeping on cash. If a loan remains, replace $18,997 with your equity figure from step 1 and redo the sum.

• Home charging only: keep $21,424, break even $40,421
• Blended charging: keep $22,008, break even $41,005
• Public charging only: keep $26,800, break even $45,797

To test a specific replacement, run it through the calculator with its own price, efficiency, insurance, and upkeep, and compare its 5 year cash cost with your break even number.

What this page does not settle

• Further value loss in years 6 to 10: no published segment figure, excluded from the keep total, favors keeping.
• Trade in versus private party gap: no single published figure, get both quotes.
• Your loan terms, your insurance quote, your local electricity rate: the example uses stated figures, and yours will differ.
• Battery health of any one car: get a battery health report showing state of health as a percentage of original capacity, and confirm the remaining warranty transfers to the new owner in writing. Federal rules require EV battery warranties of at least 8 years or 100,000 miles.

Sources: iSeeCars cars that hold their value study, March 2026, more than 950,000 five year old cars sold March 2025 to February 2026; Tesla Model Y door figures, including Edmunds 2026 Model Y cost to own work for upkeep and NerdWallet and Insuraviz for insurance; US Energy Information Administration Electric Power Monthly, August 2026, residential average 18.16 cents per kWh; Paren State of the EV Charging Industry, third quarter 2026, national DC fast charging average 54.0 cents per kWh; Geotab EV battery health study, 2026, average degradation 2.3% of capacity per year. Figures checked November 4, 2026.

Calculation transparency

Scope. One worked example, a 5-year-old Tesla Model Y, in three steps: what it is worth today, what keeping it costs over the next 5 years at 12,000 miles a year, and what a replacement has to beat on cash, with end values left out on both sides.

Rules and time period. Model Y value from iSeeCars 2026 study, more than 950,000 five year old cars sold March 2025 to February 2026; keep costs from the Model Y door own running costs; charging at 25 kWh per 100 miles, 3,000 kWh a year; blended 22.05 cents per kWh, 85% home at 18 cents and 15% public fast at 45 cents; home only at the EIA August 2026 residential average of 18.16 cents per kWh; public only at the Paren third quarter 2026 national DC fast charging average of 54.0 cents per kWh.

Scope and limitations. Educational estimate only. Further value loss in years 6 to 10 is left out, because no published segment figure covers those years, so treat $22,008 as a floor, not a full cost. This page does not put a number on the trade in versus private party gap, because no single published figure covers it: get both quotes and use your own two numbers in place of $18,997. Your loan terms, your insurance quote, and your local electricity rate will differ from the stated figures. Battery capacity loss is capacity, not value. Prices vary by car, shop, and city. Get a written quote for your own car before you decide.

Source links checked November 6, 2026. Figures: iSeeCars cars that hold their value study, March 2026, more than 950,000 five year old cars sold March 2025 to February 2026; Tesla Model Y door figures, including Edmunds 2026 Model Y cost to own work for upkeep and NerdWallet and Insuraviz for insurance; US Energy Information Administration Electric Power Monthly, August 2026, residential average 18.16 cents per kWh; Paren State of the EV Charging Industry, third quarter 2026, national DC fast charging average 54.0 cents per kWh; Geotab EV battery health study, 2026, average degradation 2.3% of capacity per year. The Paren, Edmunds, NerdWallet, and Insuraviz figures are named only, not linked. Figures checked November 4, 2026.

Primary sources: iSeeCars, cars that hold their value study; EIA, Electric Power Monthly, Table 5.6.A; Geotab, EV battery health; Tesla Model Y true cost; Used EV bargain; How fast used EVs lose value. How the numbers are calculated is written down on the methodology page, and every source is listed on the sources page.

Definitions

Equity. Value minus balance. What selling hands you after the loan is paid off. On this page, the example Model Y is worth about $18,997, so owing $10,000 leaves $8,997 and owing $22,000 leaves negative $3,003.

Break even replacement budget. The keep cost plus the selling cash. On this page, $22,008 plus $18,997 equals $41,005 over 5 years, about $683 a month. A replacement under it beats keeping on cash.

Keep cost. What keeping the car costs over the next 5 years. On this page, $22,008 for the example Model Y: $3,308 charging, $13,200 insurance, and $5,500 upkeep.

Blended charging. A mix of home and public charging. On this page, 85% home charging at 18 cents and 15% public fast charging at 45 cents, for a blended 22.05 cents per kWh.

State of health. A battery health report reading, showing the battery capacity as a percentage of original capacity.

Battery warranty. Federal rules require EV battery warranties of at least 8 years or 100,000 miles. Confirm the remaining warranty transfers to the new owner in writing.

Questions people actually ask

Should I sell my EV or keep it?

Use the cash test. Selling wins only if the replacement's 5 year cash cost beats $41,005, which is the $22,008 keep cost plus the $18,997 selling cash for the example Model Y. End values are left out on both sides. Run your own value, your own balance, and your own running costs through the same three steps.

What is a 5-year-old Model Y worth?

About $18,997. iSeeCars' 2026 study puts the Model Y at 57.8% lost, or $26,020, on an implied original price of about $45,017. That leaves 42.2% kept. Mileage, condition, region, and trim move any one car away from that line.

What does keeping an EV cost over 5 years?

About $22,008 for the example Model Y: $3,308 for charging, $13,200 for insurance at $220 a month, and $5,500 for upkeep at $1,100 a year. Further value loss in years 6 to 10 is left out, because no published segment figure covers those years, so treat $22,008 as a floor.

Am I underwater on my EV loan?

Compare what you owe with what the car is worth. The example Model Y is worth about $18,997. Owe $10,000 and the equity is $8,997. Owe $15,000 and the equity is $3,997. Owe $22,000 and the equity is negative $3,003, which means selling requires covering the $3,003 gap or rolling it into the next loan.

What should I check before selling an EV?

Get a battery health report showing state of health as a percentage of original capacity, and confirm the remaining warranty transfers to the new owner in writing. Federal rules require EV battery warranties of at least 8 years or 100,000 miles. Get both a trade in quote and a private party price, since this page does not put a number on the gap between them.

Related: See why your car loses value so fast, the reason the sell number hurts.

Related: See whether you should lease or buy an EV for the next one.

Related: Run the next car in the EV vs. gas calculator.