Luxury cars and electric vehicles (EVs) tend to mix poorly when we’re on the subject of resale values. That’s because as we’ve come to learn in recent years, EVs have worse resale values than pure internal combustion engine (ICE) or hybrid cars, and luxury cars in general also don’t have the best resale values. Combine those two into one vehicle, and you’ve got the potential for a future bargain when it comes to those shopping for a used car.

That’s a pain that well-heeled folks are willing to sacrifice when buying a brand-new luxury EV. After all, these are the same folks who have the money and resources to remain at the forefront of automotive tech. On the other end of the spectrum, you, as the bargain hunter, can greatly benefit from a luxury EV’s freefalling resale values. The question now is, is there a catch in owning a used, highly-depreciated EV?

Actually, not a lot, as you’ll find out. That’s especially true when you compare it to what ICE or hybrid you can buy brand-new for the price of this used, cutting-edge luxury EV. In fact, let’s use a $22,325 Toyota Corolla–one of America’s most affordable new cars today–as a reference point, and you’ll probably reconsider what vehicle you should go for with that amount of money.

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2022 Polestar 2: Cutting-Edge Luxury For Less Than $26,000

Wait, you know what, this luxury EV that we’re talking about has an average resale value that starts at $25,997 according to iSeeCars. So yes, for less than the price of a brand-new Corolla, you can get a luxurious, tech-filled, and far more advanced 2022 Polster 2. The Polestar 2 is one of the first wave of Tesla fighters that arrived in the luxury EV scene in the early 2020s, and thanks to the magic of depreciation, you can get one for less than a brand-new 2025 Toyota Corolla LE.

Easy To Find A 2021 Model For Under $20,000

Take a look at the Polestar 2 listings at iSeeCars, and you’ll see that, while most are hovering in the $25,000-$30,000 range, it’s also pretty easy to find a 2021 model year vehicle for under $20,000. In fact, for that amount of coin, early model year Polestar 2s are pretty much fully loaded, since all came with the Launch Edition version for $61,200, though optional add-ons like 20-inch wheels (19s are standard) and Nappa Leather upholstery were available at the time.

For an additional $5,000 when brand new, the Polestar 2 gets fitted with the Performance Package, which brings in Öhlins dampers, 20-inch forged wheels, and Brembo brakes. The Öhlins dampers, however, are more of a pain than a pleasure to own, because while these are track-focused dampers, you’ll have to manually adjust the damping firmness yourself from underneath the vehicle. Let’s be honest, at its price point, no one’s going to be willing to get their hands messy just to adjust a set of springs.

How Its Prices Fare Versus Other EVs

To make the comparison fair and square, we compare the Polestar 2’s five-year depreciation rather than their outright values. That’s because a luxury EV’s size and class positioning also play a role in determining how much it costs. Of course, a Polestar 2 will be more affordable than a BMW i7, but in terms of percentage loss, some luxury EVs in reality fare better than others. Without further ado, among luxury electric passenger cars in 2025, here’s how the Polestar 2 stacks up.

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The Various Updates To The Polestar 2

The Polestar 2, like many luxury EVs, received incremental and huge updates over its lifecycle. The electric luxury crossover sedan debuted in 2021, while a 2024 mid-cycle facelift fundamentally made the Polestar 2 a compelling Model 3 rival, as it got more efficient EV drivetrains and new batteries to finally offer competitive range versus what Tesla is pumping out.

2021-2023 Updates

As Polestar was new to the EV scene as a standalone brand and not anymore a sportier division of Volvo, the Polestar 2’s trim and customization structure was relatively simple. In 2022, the Polestar 2 only came in dual-motor all-wheel drive (AWD) in Launch Edition or Performance Package variants, which means that you get the full 408 horsepower, 487 pound-feet of torque and a 78 kWh lithium-ion battery. This is good enough for a 0-60 mph time of just 4.5 seconds, but that came to the detriment of range. With such a powerful motor, it only did 233 miles according to the EPA, which is short of the more than 300 miles that a Model 3 at the time could achieve.

By 2022, a new, front-wheel drive (FWD) version was introduced. It enabled the Polestar 2 to have a base price of $47,200, while the more efficient drivetrain increased its range to 270 miles. The Polestar 2 Dual Motor also sees a price drop from $61,200 a year before to $51,200. Thanks to a paid and optional over-the-air (OTA) update, the Polestar 2 Dual Motor also got a power bump. Output can be raised from 408 to 476 horses, and 487 pound-feet to 502 pound-feet of torque. A free OTA for the Dual Motor, however, came in the form of increased range, which raised its EPA-estimated range from 233 miles to 249 miles. Finally, in 2023, another update was made to the Polestar 2, giving the Dual Motor AWD an additional 11 miles of EPA-estimated range.

2024-Present Updates

Of course, newer examples of the Polestar 2 are going to be pricier, and a 2024 mid-cycle facelift introduced the most comprehensive changes yet. The FWD model is gone, now replaced by a rear-wheel drive (RWD) version, while the battery pack is now bigger at 82 kWh. This enables the 295-horsepower RWD model to travel up to 320 miles on a single charge. Unfortunately, the Dual Motor AWD models retained the same 78 kWh battery as before, which meant they did 276 miles at best.

Finally, in 2025, the trim structure has been simplified, now coming in as a fully-loaded Long Range with Performance Pack variant. It comes with 469 horses, along with the 82 kWh battery from the RWD model. As a result, its range drops to 254 miles despite the bigger battery, while a massive price jump brings its price to $66,200. It also gets every single optional extra as standard, but for traditional EV buyers, the appeal of the Polestar 2 becomes much more limited since range is always the biggest selling point.

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What You Get In A Polestar 2

Regardless of which model year you choose, there’s something in common in every Polestar 2. Don’t overthink about packages and features too much, because whichever way the Polestar 2 is configured, you get a stylish electric luxury sedan with crossover proportions and a minimalist premium interior.

Sedan With Crossover Genes

The Polestar 2 is underpinned by the CMA platform that is used in the Volvo XC40 and other Geely Group vehicles–most of which being crossover SUVs. As a result, this fastback sedan rides a bit taller than the Tesla Model 3, for instance, which somehow gives the Polestar 2 a unique character. Various color and wheel choices are available to suit your taste, though because earlier models only came in a fully-loaded Launch Edition variant, the amount of personalization is much more limited.

Step inside the Polestar 2, and you’ll be greeted by a premium yet sustainably-sourced interior. As standard, all models get a 12.3-inch infotainment that’s running Android Automotive, which means that the user interface is snappy and extremely easy to use. Optional extras range from stuff like colored seatbelts, Nappa Leather upholstery, a panoramic glass roof, a Bowers & Wilkins surround sound system, among other features, and also depending on the model year. Finally, the interior is also a practical one, thanks to the fastback tailgate that enables a wide cargo area. Passenger space, however, seems to be awkward in some places, with the front seats feeling a bit narrow and the rear seats being less spacious than rivals.

Comfort With A Degree Of Sportiness

Finally, as for the driving experience, though this is a newer model car, most of what we experienced here is carried over from older models. As an EV brand with a sporting history as Volvo’s performance sub-brand, the Polestar 2 blends comfort and refinement with a degree of athleticism. Models with the Performance Package’s Öhlins dampers definitely make the car feel sportier and corner flatter, but their manual adjustability is a hassle rather than a pleasure to have.

The technology is also very intuitive and easy to use, while the interior is a relaxing place to be in. However, unless you’re going for the FWD or RWD versions, the range of the Polestar 2 is okay rather than outstanding. Overall, though, especially as a used purchase, a Polestar 2 will be more emotionally appealing than a brand-new Toyota Corolla.