Used Polestar 2 Buying Guide
An amazing EV bargain!
The Used Polestar 2 Buying Guide has been substantially updated and is now available as an eBook! For a limited time, save 50% in Current Notes Shop.
For a variety of reasons, EVs have extraordinarily high deprecation. The Polestar 2 might have some of the highest depreciation of any EV at the moment, but without the baggage of a Fisker1 or Tesla2.
For example, the 2021 Polestar 2 had an original retail price of just over $61,000 (US). It is now possible to find lightly used models that have recently come off of lease for under $25,000! That is an amazing drop in value in just over three years. You’ll hate it if you financed your Polestar 2 (instead of leasing), but love it if you’re in the market for a used one.
I’ve been seeing lots of people looking for a used Polestar 2. There are many Tesla Model 3 owners that want to move away from the Tesla brand and the Polestar 2, being a similar-sized car rather than an SUV, is a popular alternative.
There are also many folks that are looking to get into the EV world for the first time and are recognizing that a Polestar 2 can be an affordable way to do so.
I recently purchased a used 2021 Polestar 2 and got to see this depreciation first-hand. This car was originally listed at just over $27,000. In fact, the first offer they gave me on the car was for $25,998. I waited and eventually was able to negotiate down to $23,998. If you’re able to apply the Federal used EV tax credit of $4,000 then that means you could get a Polestar 2 for just $20K!
Of course the newer models (2022 or later) still cost a bit more, usually higher than the $25K cut-off for the tax credit, but they can still be a great value.
So if you are considering a Polestar 2, how can you find one? What are some of the things you should know? What should you look out for?
Looking for a Polestar 2
My favorite site for looking for vehicles right now is https://www.visor.vin. This free site aggregates listing from all over the country and gives you a nice, clean summary that you can sort in a variety of ways. You can also pay a small subscription fee to get access to additional features.
For example, as of this writing, I can see that there are 207 2021 Polestar 2 models for sale across the US. I can sort them by closest, newest, price, miles and other things. Clicking on each one provides details and a link to the actual dealer listing.
When looking at prices, keep in mind that some dealers deduct the $4,000 federal EV rebate from the advertised price. That is fine if you qualify, but not everybody will and only cars the are $25,000 or less will, so if you see a car listed for more than $21K and includes the rebate, then that dealer should be treated with skepticism and probably avoided altogether.
Main Features
The Polestar 2 is a luxury performance car. It handles like a dream, but some feel the ride is too firm. You should absolutely do a test drive before you purchase one.
In the US, most cars are going to be all-wheel drive with dual motors, one in the front and one in the back. Each of these are 150kW motors, so you get 300kW of power or about 408hp. That’s a lot of power!
All EVs are fast, but this car is especially fast. For the dual-motor version you’re looking at a 0-60mph time of about 4.5s. That can be slightly faster if you pay for (or the car comes with) the software performance upgrade.
The Polestar 2 uses Google Automotive to run its infotainment system. The layout is clean and easy to use and uses Google Maps for navigation. You can also install apps from the Google Play Store. I have HBO MAX installed and can watch movies while the car is parked!
Apple CarPlay is also included, although it is wired instead of wireless. Android Auto is available on a recent update, but not all cars have it yet.
An especially nice feature of the Polestar 2 is the driver console display. It is fully digital and can show the map while driving.
There is a companion phone app for controlling a few features such as climate and checking the car status. It also allows the user of the phone as a digital key3.
The Polestar 2 is a hatchback, so even though it looks like a sedan from the outside it has much more usable storage area in the back.
The rest of this post is for paid subscribers, but anyone can order the Used Polestar 2 Buying Guide as an eBook from the Current Notes shop.