- According to CarGurus data, the Nissan Leaf is the best value used car on sale in Canada right now.
- It's joined in our top 10 list by the Tesla Model Y, Model 3 and Model S, as well as the Hyundai Kona Electric and Ford Mustang Mach-E.
If you’re in the market for a used electric vehicle, you’re in luck. Many of the 10 best value used cars in Canada in January 2025 are EVs.
If used EV prices are dropping quickly, what does it mean for the electric vehicle market in Canada? For one thing, Tesla sales are down universally, both in new and used cars. And it is joined by other EVs on this list, where we see older models with less range, and perhaps some market correction playing a role.
The prices used in this guide are compiled and analyzed using data from dealership vehicle sales listings at CarGurus.ca. Our assessment of value is based on the year-over-year change in price on listings for these vehicles versus one year ago.
The Best Value Used Cars in Canada in January 2025
- Nissan Leaf (2011-)
- Tesla Model Y (2020-)
- Mercedes-Benz GLS (2019-)
- Hyundai Veloster (2011-2018)
- Ford Mustang Mach-E (2021-)
- Tesla Model 3 (2017-)
- Tesla Model S (2012-)
- Jeep Patriot (2006-2016)
- Hyundai Ioniq Electric (2017-2022)
- Hyundai Kona Electric (2019-)
1. Nissan Leaf (2011-)
Average listing price in December 2023: $23,579
Average listing price December 2024: $16,942
Percentage reduction: -28.1%
We’ll soon be saying farewell to the longest-running mass-market EV as production runs down on the Nissan Leaf. For now, while all the attention is on the market’s newest EVs, the Leaf remains a solid subcompact commuter car for those who don’t mind working with less range than brand new offerings. We recommend focusing your search on second-generation vehicles starting from the 2018 model year. Earlier model years had a sub-200 km range and may soon begin to see drops in reliability.
2. Tesla Model Y (2020-)
Average listing price in December 2023: $62,207
Average listing price December 2024: $44,872
Percentage reduction: -27.9%
The Tesla Model Y’s year-over-year price decline on the used market is perhaps a little surprising. After all, it’s been more affordable, accessible, and appealing to the average consumer from the get-go than some of the brand's other models. On the other hand, there are now plenty of competitors in this segment from mainstream brands offering similar range for lower prices. Plus, the rebates offered on new EVs in some markets bring their prices down below the Model Y’s used price average.
3. Mercedes-Benz GLS (2019-)
Average listing price in December 2023: $91,680
Average listing price December 2024: $67,061
Percentage reduction: -26.9%
The Mercedes GLS is a large, luxurious, and highly desirable SUV that's now better value than ever on the used market. The "S" in the car's name ties it to the S-Class sedan, which is the flagship of the German brand's range of luxury vehicles. The GLS deserves that positioning, for it is a true standout in terms of quality, equipment, and space. Unlike the S-Class sedan, the GLS SUV offers three-rows of seating as well as a large trunk and the ability to go off-road if needed. Rivals include the Cadillac Escalade, Lincoln Navigator, Infiniti QX80, and BMW X7.
4. Hyundai Veloster (2011-2018)
Average listing price in December 2023: $17,099
Average listing price December 2024: $12,525
Percentage reduction: -26.7%
Those in the market for a car that's a little different should certainly consider the Veloster, if for no other reason than its quirky door arrangement, which sees the car get one door on the driver's side, and two on the passenger side. The idea is to add extra practicality to the coupe format, and if the execution is undeniably odd it at least gives owners something to talk about. To drive, the Veloster is decent if unremarkable. At the $12,000 average listing price you can choose between a high-mileage version of the second-generation Veloster or a lower-mileage first-gen model. Enthusaists might want to find more cash and go for a high-performance Veloster N instead.
5. Ford Mustang Mach-E (2021-)
Average listing price in December 2023:$56,300
Average listing price December 2024: $41,319
Percentage reduction: -26.6%
It’s been almost four years since Ford ported its venerable pony badge over to the Ford Mustang Mach-E, the brand’s first EV built on a dedicated platform. Right now, those early leases are starting to come to term. The result is a return to Earth for Mustang Mach-E prices, which floated on the high side in Canada for a surprisingly long time. This is good news for prospective shoppers. With the batteries still being relatively fresh and extended or CPO warranties still on the table, drivers could potentially enjoy several worry-free years of Mustang Mach-E ownership at much more affordable prices.
6. Tesla Model 3 (2017-)
Average listing price in December 2023: $43,137
Average listing price December 2024: $31,695
Percentage reduction: -26.5%
The Model 3 was billed as Tesla’s affordable EV for the masses, but these recent precipitous price drops are hammering that case home even harder. However, in the case of the Model 3, the current used prices are a fair bit lower than what you’d pay for a new car today with equivalent range, even after factoring in rebates. If you’re willing to take on Tesla’s reputation for sometimes patchy build quality, this could be a good way to score yourself an electric bargain.
7. Tesla Model S (2012-)
Average listing price in December 2023:$56,663
Average listing price December 2024: $41,662
Percentage reduction: -26.5%
Tesla’s flagship sedan, the Model S, has seen a near-27% drop in used car prices year-over-year as of November 2024. The decline in favour overall for the Tesla brand is no doubt playing its part, but there are other factors at play. Longer range and better build quality from newer rivals versus older Model S units may finally be taking its toll on Tesla’s residual values. Plus, the oldest Model S years are starting to see the inevitable decline in battery life that all EVs will experience over time. If these factors don’t bother you and you can do a little digging, there are bound to be some great deals out there on used Model Ss given these factors.
8. Jeep Patriot (2006-2016)
Average listing price in December 2023:$14,468
Average listing price December 2024: $10,708
Percentage reduction: -26.0%
The Jeep Patriot is a 5-passenger compact crossover that was produced from 2006 to 2016. Its remit was to add a budget-friendly model to the Jeep lineup, helped by being offered with a more affordable front-wheel-drive layout alongside the familiar four-wheel-drive option. The Patriot's rivals included the Subaru Forester and Honda HR-V, which as used buys do a better job in terms of refinement, performance, and features for those who don't need the Jeep's off-roading ability. But if you're looking for a budget vehicle to go off the beaten track, a four-wheel-drive Patriot might still make some sense.
9. Hyundai Ioniq Electric (2017-2022)
Average listing price in December 2023: $25,028
Average listing price December 2024: $18,625
Percentage reduction: -25.6%
Though its name is similar to the Ioniq 5, the Hyundai Ioniq was an earlier electrified model from the brand that was available as a hybrid, a plug-in hybrid, and an EV. It’s the Electric model specifically that’s seen a huge price drop on the used market over the past year. While it offered decent value in its day and was at one time the most efficient vehicle on the market, its paltry 134 hp and 274 km of range couldn’t keep up with the swiftly evolving market. As a used EV, though, the Hyundai Ioniq Electric is an under-the-radar steal as a short-range electric commuter car.
10. Hyundai Kona Electric (2019-)
Average listing price in December 2023: $34,815
Average listing price December 2024: $26,007
Percentage reduction: -26.4%
The Hyundai Kona Electric was a hot seller for the brand, right up until the Ioniq 5 came along and stole its thunder with its more spacious cabin and longer range. However, in the case of the Kona Electric, we think there’s still a place in the market for smaller EVs and this only tells part of the story. A new generation of Hyundai Kona Electric is just arriving in Canada complete with a new drive system, slightly longer range, and a starting price of less than $50,000 before rebates. This is no doubt pushing the price of used Kona Electrics down as people weigh that value against buying new.
