If you’ve been waiting for the “right time” to consider an electric vehicle — and by that we mean you’ve been waiting for a deal that doesn’t make you want to cry into your perfectly good 2011 Honda Civic — good news: that moment might actually be here.

The used EV market is quietly having its main-character moment, and a lot of it comes down to simple math. A few years ago, millions of Americans took advantage of generous federal EV tax credits and leased electric vehicles. Those standard three-year leases are now expiring, and those cars have to go somewhere. Spoiler: they’re coming to a dealership near you.

Research from data firm Recurrent estimates that as many as 500,000 EVs could come off lease in 2026 alone, with that number nearly doubling in 2027. Combined with the fact that most EV lease buyouts aren’t financially attractive — meaning drivers are returning their cars rather than buying them out — a wave of low-mileage, relatively recent electric vehicles is about to hit the used market all at once. It’s like musical chairs, except the prize is a silent car with a full charge.

According to car shopping platform CarGurus, used EV prices have dropped about 35% since their 2022 peak, settling around an average of $34,600. That’s still real money, obviously — we’re not saying go buy one with your lunch budget — but compared to the average new car price hovering near $50,000 these days, it starts to look a lot more interesting.

Edmunds analysts note that while gas-powered vehicles made up 93% of expected lease returns in 2025, that share is set to drop to 82% in 2026, while battery electric vehicle returns are projected to jump from 2% to 8% of the mix. That’s a significant shift in supply, and more supply generally means more competitive pricing. Economics class is finally paying off.

Sales data backs up the trend too. February 2026 saw nearly 31,000 used EVs sold in the U.S. — a jump of almost 29% compared to the same month a year earlier. That was before the latest gas price spike really started stinging, so demand may only climb from here.

Tesla leads the used EV pack by a wide margin, with over 12,000 retail units sold at non-Tesla dealerships in February alone. Chevy, Ford, BMW, and Hyundai round out the top five. And if you’re a Tesla skeptic who’s been rolling your eyes at Cybertrucks since day one — you might want to look away — the Cybertruck and Model X are among the fastest-selling used cars on the market right now, moving off lots in under 28 days compared to the 53-day average for regular used vehicles. The car bros are winning, for now.

For new-car shoppers watching their wallet, the Chevrolet Bolt EV is practically flying off lots with an average of fewer than 10 days on dealer inventory. Affordable, practical, and apparently very popular — who knew the unglamorous little Bolt had such a fan club?

The bottom line: if high gas prices have you reconsidering your relationship with the pump, 2026 might be genuinely the best year in a while to explore what the used EV market has to offer. The supply is coming, the prices have dropped significantly, and the technology in these lease returns is only a few years old — which in EV terms means meaningfully better range and features than earlier models.

The era of EVs being exclusively for tech millionaires and people with very strong opinions about the environment might finally be ending. And honestly? About time.