Thanks to CarMax, the BMW iX could be your next EV.
Used car prices will reach record high in Q3 2025
With used car prices exceeding $31,000 in Q3 2025, EVs are emerging as a budget-friendly option.
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- BMW’s electric SUV is expensive, but depreciation has made used models available at CarMax.
- After an extreme price drop, the iX may be a steal for some fans of EVs and the BMW brand.
Used electric cars are facing extreme price declines, which is good news for some used car buyers.
From best-selling EVs like the Tesla Model Y small electric SUV to new electric sedans like Hyundai’s Ioniq 6, EVs are facing double-digit depreciation despite recent models with low mileage. This phenomenon is troubling if electric car owners are concerned about maintaining value. If you’re a potential EV buyer looking for a deal, this is a buying opportunity.
The BMW iX is a German mid-sized luxury electric SUV built with high-quality materials and exuding luxury. Here’s why CarMax’s used models are a great deal.
2023 BMW iX faces extreme price drop
BMW makes one of the most luxurious midsize luxury electric SUVs on the market. The 2023 BMW iX has a Manufacturer’s Suggested Retail Price (MSRP) of $84,100. Thanks to depreciation, CarMax sells used 2023 iX midsize luxury electric SUVs for under $50,000.
The 2023 BMW iX arrived in June 2022. Just three years after its launch, this midsize luxury electric SUV is on sale at CarMax for more than 40% off its original MSRP.
CarMax has four BMW iX models with less than 40,000 miles for sale online. These models start at less than $50,000 each. The most affordable 2023 iX model starts at just $44,998.
Is a used 2023 BMW iX a good deal?
The 2023 BMW iX produces 516 horsepower and 564 pound-feet of torque. When the battery is fully charged (when new), it can travel 324 miles. The iX produces plenty of power for its size and has a solid range.
2023 BMW iX standard equipment
- all wheel drive
- Apple CarPlay/Android Auto
- 18 Speaker Harman Kardon Stereo System
- With front seat heater
- genuine leather wrapped steering wheel
- heads up display
Popular product review site CNET’s 2023 iX vehicle review praises the midsize luxury electric SUV’s “gorgeous interior design.” Our review calls the 2023 iX a “great new entry in BMW’s electric vehicle portfolio” based on its “driving experience, range, and handling.”
Edmunds praised the 2023 BMW iX’s “spacious and comfortable interior,” as well as its “quick acceleration” and “bold interior design.” Online automotive information resources describe the SUV as agile compared to its size.
Should you buy a 2023 BMW iX from CarMax?
According to Cox Automotive, the BMW iX’s starting price is significantly higher than the average new car price (approximately $50,000). However, you can still find a used 2023 BMW iX for less than the average price of a new car, even though most used models have relatively low mileage for their age.
One of the major barriers to EV ownership is range anxiety. With a range of over 300 miles, the iX has plenty of range to ease any worries. As for charging, according to BMW’s technical data, it is equipped with a CCS (Combined Charging System) port and can be charged from 10% to 80% in about 35 minutes with a DC fast charger.
It can take up to 11 hours to fully charge your SUV from 0% using a home or public charger, but it’s more practical to charge in split sessions using a Level 2 charger. Despite the iX’s impressive range, it requires a solid weekly charging plan to be useful as a daily driver for most commuters. This charging plan may require access to a home charger or a powerful, convenient, and reliable public charger.
If you’re not used to charging your car regularly and might want to buy a home charger, a used BMW iX probably isn’t for you. Although this midsize luxury electric SUV is sleek, quick, and heavily discounted as a used model, it still has serious pitfalls for drivers new to owning an electric vehicle. If you’re comfortable incorporating charging into your daily and weekly schedule, this EV is worth considering.
