For years, the advice to Australian EV buyers was simple: “If you want a good one, you have to buy new.” The used market was a desert, populated only by overpriced, short-range Nissan LEAFs and unicorn Teslas that cost almost as much as a new one.

But as we roll into 2026, the tide has turned. In fact, it’s a flood.

We are witnessing the first major “lease cycle turnover” in Australian EV history. The thousands of Tesla Model 3s and Polestar 2s that hit our roads during the sales boom of 2021 and 2022 are now reaching the end of their 3-to-4-year corporate leases. These cars are returning to the market in droves, creating a glut of high-quality stock that is driving prices down to levels we have never seen before.

If you have been waiting for the “affordable electric car” to arrive, stop looking at the new car showroom. The bargain of the century is parked in the used car lot.

At EV Evolution, we track the market daily. Here is why 2026 is the year to snap up a pre-loved electric gem.

📉 The “Lease Cliff”: Why Prices Are Crashing

To understand the price drop, you have to understand the calendar.

Back in 2021 and 2022, the Tesla Model 3 became the first EV to sell in serious volume in Australia. Many of these were purchased by businesses or salary-packaged by employees on 3 or 4-year novated leases.

Now, in 2026, those contracts are ending. Employees are upgrading to the new “Highland” Model 3 or the Model Y, sending their 2022 models back to leasing companies. These companies need to liquidate stock fast.

The Result:

• Tesla Model 3: You can now find 2021/2022 Standard Range Plus models dipping well below $35,000. High-kilometre examples are even flirting with the $30,000 barrier. That is a modern, software-supported EV for the price of a used Toyota Corolla.
• MG ZS EV: The original budget king has become the used car steal. Early 2021/2022 models are appearing for $20,000 – $25,000, making them an unbeatable second car for city runabouts.
• Polestar 2: As the first wave of leases expires, we are seeing 2022 models hitting the market in the $40,000 – $45,000 bracket—a massive depreciation hit for the first owner, but a massive win for you.

🏢 The “Fleet Factor”: Why Ex-Lease is a Safe Bet

There is a stigma around “ex-fleet” cars, often associated with thrashed Commodores and Falcons. But ex-fleet EVs are different.

1. Mandatory Maintenance: Novated leases require strict servicing schedules. You can be almost certain these cars haven’t skipped a check-up.
2. Battery Babying: Corporate drivers often charge at home or the office on slower AC chargers, which is gentler on the battery than constant DC fast charging.
3. Warranty Balance: A 2022 Tesla or Polestar still has years left on its 8-year battery warranty. You aren’t buying a risk; you’re buying a car that is guaranteed by the manufacturer until 2030.

🔍 Smart Buying: What to Watch For

Buying used is smart, but it requires diligence. The engine won’t blow a gasket, but the tech needs checking.

• Tyres: EVs are heavy and have instant torque. Check the tyres carefully. Many ex-lease cars are returned with rubber that is barely legal. Negotiate a new set into the price.
• The “Phantom Drain”: On Teslas, check if the previous owner used “Sentry Mode” 24/7. It doesn’t damage the car, but it adds cycle counts to the battery.
• Panel Gaps & Paint: Early 2021 Teslas and MGs were known for variable build quality. Check for water ingress in the boot and misaligned trim.

🇦🇺 EV Evolution Angle: The Smart Money Moves Fast

Let’s be real: A $35,000 used Tesla Model 3 is a better car than almost any $35,000 new petrol car on the market today.

It is faster, safer, cheaper to run, and has better tech.

The market correction we are seeing in 2026 is the “normalization” of EVs. They are finally depreciating like normal cars. This isn’t a bad thing; it’s the sign of a healthy market. It means the barrier to entry has lowered significantly.

For families looking to replace a second petrol runabout, or young drivers wanting their first car, these ex-lease EVs represent the sweet spot of value. But be warned: as fuel prices fluctuate, the best stock won’t sit on the lot for long.

🤖 Join the Evolution: Don’t Buy a Dud Battery

The engine won’t fail, but the battery is the heart of the car. Do you know how to check the State of Health (SoH) of a used EV? Do you know which 2022 models have the LFP battery (which lasts longer) and which have the NCA battery?

Don’t inspect a car blind.

At EV Evolution, we have trained our AI-Powered Chatbot with inspection checklists specific to Australian used models.

Ask the Chatbot today:

• “What is the simple way to check the battery health of a 2022 Tesla Model 3 during a test drive?”
• “What are the common recall issues for a used Polestar 2 in Australia?”
• “Which used MG ZS EV model year has the better battery range?”

About EV Evolution

EV Evolution is the leading online platform dedicated to Australian electric vehicle owners and enthusiasts. We foster a vibrant community, delivering essential EV news and insights, and enhancing user engagement through our innovative, AI-powered chatbot for dynamic discussions. Our mission is to empower Australian electric vehicle owners and enthusiasts by fostering a vibrant, AI-driven online community that connects, informs, and advances the nation’s electric vehicle landscape.