Electric vehicles at CarMax

Here is a list of the 10 best electric cars, based on CarMax vehicle and sales data from January 1, 2021, through June 30, 2021.

1. Nissan Leaf
2. BMW i3
3. Tesla Model 3
4. Chevrolet Bolt EV
5. Chevrolet Spark EV
6. Ford Focus Electric
7. Mercedes-Benz B250e
8. Tesla Model S
9. Mercedes-Benz B-Class
10. Mitsubishi i-MiEV

There are three primary types of cars and trucks with electric power:

HEV - Hybrid Electric Vehicles (commonly 'hybrids')

HEVs feature a conventional internal combustion engine (ICE) and supplemental battery that is paired to an electric motor. These vehicles can operate on only the engine, only the battery, or both together for added performance, though the driver typically can't select which mode; the car's software determines that based on conditions. HEVs don't need to be plugged-in when the battery gets low, as they can charge by drawing power from the engine or through regenerative braking.

A major benefit of HEVS is their impressive fuel economy with no need to plug in the battery. The Honda Insight and Toyota Venza are examples of HEVs.

PHEV - Plug-In Hybrid Electric Vehicles (commonly 'plug-in hybrids')

PHEVs are similar to HEVs with a conventional engine and electric motor but have two primary differences:

1. PHEVs can be driven in pure Electric Vehicle (EV) mode for an extended period
2. PHEVs can be plugged in to recharge their battery (but most don't have to be – the battery can recharge as a typical HEV does)

PHEVs are well liked because for most of their driving they can operate in EV-only mode, but can engage the ICE when driving longer distances or needing more power. The Ford Fusion Energi, which has an EPA-estimated EV-only range of 26 miles for 2019 and 2020 model years, is an example of a PHEV.

BEV - Battery Electric Vehicles (commonly what people mean when they talk about 'EVs')

BEVs do not have a conventional internal combustion engine and instead use a battery and electric motors for propulsion. While BEVs do have regenerative braking for minimal recharging, they need to be plugged-in to fully recharge their batteries. For long-distance driving, there are a variety of manufacturer and third-party-owned charging networks nationwide (with more coming online every day).

With so many perks to an EV, including no longer needing to visit traditional refueling stations and simplified maintenance (no more oil changes), it's easy to see why they are on so many shoppers' wish lists. The Tesla Model 3, Ford Mustang Mach-E, and Volvo XC40 Recharge are examples of BEVs.

There are several benefits to an electric car but for many, they might seem like a big step. Whether you want to live a more green-conscious lifestyle or just want to stop taking frequent trips to the gas station, an electric car is an excellent choice with a variety of options whether you want a sleek luxury, a practical SUV, or a compact for daily driving.

If you're interested in an electric vehicle (EV) and want to keep researching, you're in the right place. Here's what you need to know about how to buy an electric car.

Energy must be used to get any vehicle up to speed, and typically that energy comes from either a fuel source or battery pack in your car.

With a traditional braking system, pushing your foot on the pedal triggers the brake components to compress together, creating resistance to slow your vehicle's wheels. Any energy you had used to get up to speed is then lost as heat.

With a regenerative braking system, your wheels are connected to a motor that recaptures some of the energy used to get your vehicle up to speed, which is then converted back to stored power in the battery (hence the name 'regenerative').

Most electric vehicles, including BEVs, HEVs, and PHEVs, feature both braking systems and allow you to select whether to use both or only regenerative braking. Because most regenerative braking systems kick in immediately after releasing your accelerator pedal (no need to apply the brake pedal), you can drive while using your traditional brakes significantly less often; this is commonly called one pedal driving.

Yes, if you and the vehicle you are purchasing meet the IRS's qualifications. If so, your purchase of that qualified used electric vehicle could enable you to get federal income tax credits of either $4,000 or 30% of the price of the vehicle, whichever amount is less.

The Treasury Department has specified the following eligibility requirements for both vehicles and purchasers:

• The vehicle must be at least 2 years old; this means if you're purchasing a vehicle in 2023, it must be at least a 2021 model or older
• The vehicle sale price must not exceed $25,000
• The vehicle must have a plug-in battery with capacity of at least 7kWh
• The vehicle must be purchased from a licensed dealer like CarMax, not from a private party
• The buyer's adjusted gross income cannot exceed $75,000 for a single-filing taxpayer, $112,000 for head of household, or $150,000 for joint-filing taxpayers
• The buyer cannot have claimed another used EV credit within the last 3 years

Additionally, the used vehicle credit is only available once per vehicle (so once a used vehicle credit has been claimed on a unique vehicle, that vehicle is no longer eligible for the credit in future sales).

You can view the list of qualifying vehicles directly on the Treasury Department's website. This list is continually updated.

Note: This FAQ is not intended to be an exhaustive list of the qualifications and requirements related to this tax credit. CarMax cannot provide tax advice. Consider consulting an accountant or tax attorney with questions about this tax credit.

A variety of factors can contribute to the longevity of an electric vehicle's battery, though some contributors are age of the battery, temperature exposure over time, number of charging/discharging cycles, and times the battery has been fully discharged.