Electric vehicles are cheaper to maintain than cars with internal combustion engines, but they tend to lose money — fast.

It varies by model, but in general EVs depreciate by 13% more over a five - year period than the overall market, and some plummet in value even more rapidly, according to iSeeCars, which tracks the used car market.

It's enough to make a new car buyer hesitate if they are worried about how much they will get back when they try to sell the car. In addition, automakers have said they're trying to broaden the appeal of EVs to more cost-conscious mainstream shoppers. Up until now, the EV market has been heavy on higher priced vehicles aimed at luxury buyers.

"New car shoppers, especially wealthy ones, are less price sensitive," said Karl Brauer, executive analyst of i

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