The top 15 used cars are more expensive than before as used car prices have stabilized
- The average less used car is 1.0 percent cheaper than its new version
- The Mercedes-Benz G-Class as a used vehicle is the best in its new version
- The list of more expensive used vehicles than before is a mixture of two extremes: gas-guzzling expensive SUVs and economical small cars
- Nissan is the most represented automaker for less used cars providing the greatest savings on their new versions
Used car prices have been slowly declining since February, but according to the latest car search engine study iSeeCars.com, many less used cars are more expensive than their newer versions.
ISeeCars.com analyzed asking prices from over 1.5 million new and used cars sold in April 2022 and found the average 1- to 5-year-old used car cost only 1.0 percent less than in its new version. It identified the top 15 under -used cars with the largest price difference compared to their new versions, as well as new cars that were more expensive than their used versions.
“Used car prices have improved since January, when the standard used car was actually more expensive than its new version,” said iSeeCars Executive Analyst Karl Brauer. “The average underused car is currently only 1.0 percent or $ 454 less than its new version, and when you compare that to prices before the microchip shortage when the average underused car is worth 17 percent lower, you can see that used car prices are still more than normal. ”
Best Cars to Buy: Used Cars with Highest Rise in New Versions
ISeeCars identified 15 used cars as more expensive than their new car equivalent. The list of cars with the biggest differences includes a mix of vehicle types dominated by SUVs as well as a wide range of price points.
|Top 15 Used Cars That Are More Expensive Than Before – iSeeCars|
|Rank (By Percentage)||model||% Used Price More Than New||$ Used Price More Than New|
|1||Mercedes Benz G-Class||21.5%||$ 40,958|
|2||Chevrolet Corvette||16.4%||$ 13,594|
|3||Chevrolet Trailblazer||14.4%||$ 3,856|
|4||Toyota RAV4 Hybrid||13.5%||$ 5,002|
|5||Porsche Taycan||11.2%||$ 14,009|
|6||Chevrolet Suburban||11.2%||$ 7,881|
|7||Hyundai Accent||10.3%||$ 1,886|
|8||GMC Yukon||10.0%||$ 7,233|
|9||Kia Rio||9.7%||$ 1,824|
|10||Toyota Tacoma||9.3%||$ 3,405|
|11||Kia Seltos||9.2%||$ 2,441|
|12||Toyota Sienna||8.9%||$ 4,065|
|13||Toyota Corolla Hybrid||8.0%||$ 2,138|
|14||Ford Mustang Mach-E||8.0%||$ 4,292|
|15||Toyota Prius Prime||7.9%||$ 2,508|
|Overall Average||-1.0%||-$ 454|
The least used vehicle with the biggest price difference compared to its new version was the Mercedes-Benz G-Class, which averaged 21.5 percent more worth $ 40,958. “The Mercedes-Benz G-Class opulent off-roader is a status symbol with record sales numbers in 2021,” Brauer said. “Its success has led to a shortage of new versions, with wait times exceeding a year, forcing dealers to stop orders in January and lead to well -funded buyers in the marketplace. of a used car. “
Two electric vehicles, the Porsche Taycan luxury electric sedan and the Ford Mustang Mach-E are also on the list. “The in-demand Taycan mandates a six-month waiting list for its new versions, and with the average used car price of $ 138,714, buyers with good heels are willing to pay more than a new version, ”Brauer said. “The new for the 2021 Ford Mustang Mach-E has been a hot seller since its debut, where Ford closed new orders and the current waiting time for a new model is more than 32 weeks.”
The Chevrolet Corvette is in fourth place, with less used versions costing an average of 16.4 percent higher than its new version. “The mid-engine Chevrolet Corvette is one of the most promising American sports cars ever made, and demand for the car has exceeded supply since its launch for the 2020 model year,” Brauer said. “Dealers have a backlog of orders for the 2022 model, and long waitlists have been formed for the high-performance version of the Z06 to come for the 2023 model year, increasing demand for the less used ones. version. “
Two new-for-2021 subcompact SUVs are on the list: the Chevrolet Trailblazer and the Kia Seltos. “The Chevrolet Trailblazer has been in high demand since its debut, and had a 65.6 percent drop in new car sales in the first quarter of 2022 due to supply constraints,” Brauer said. “Similarly, Kia Seltos dropped sales by 33.8 per cent over the same period, meaning a shortage of inventory combined with rising gas prices boosted demand for used versions of small SUVs. this. “
Five Toyota are on the list including the Toyota RAV4 Hybrid compact SUV, the Toyota Tacoma midsize pickup truck, the Toyota Sienna minivan, the Toyota Corolla Hybrid, and the Toyota Prius Prime plug-in hybrid. “Toyota is one of the automakers with the lowest inventory, and demand for the RAV4 Hybrid, Corolla Hybrid, the Sienna minivan hybrid, and Toyota Prius Prime plug-in hybrid exceeds supply, especially amid high gas prices, ”Brauer said. “The Toyota Tacoma continues to dominate the midsize pickup truck market as used versions command a premium amid inventory constraints.”
Two full-size SUVs from General Motors also make the list: the Chevrolet Suburban and the GMC Yukon. “Demand for full-size SUVs continues to grow as these two vehicles see increases in sales for the first quarter of 2022 to 2021,” Brauer said. “With the low inventory of these popular models, consumers are willing to pay extra for less used models.”
Two subcompact cars make up the list: the Kia Rio and the Hyundai Accent. “These vehicles are among the most affordable cars on the market, and the surge in used car prices has made economical cars like these the only affordable option for a lot of buyers, ”Brauer said. “Consumers are likely to see their used car price tags as low as $ 20,000 and they’re not comparing new prices for both models, which cost about $ 2,000 less-assuming you can find one on a dealer lot. “
For a list of new cars that are most expensive in their used versions, refer to full study.
When deciding between new and less used versions of the same vehicle, there are important things to consider. “While buying less used typically provides upfront cost savings compared to buying new, this is no longer the norm in the market today,” Brauer said. “Consumers looking for less used cars should always compare prices to new cars, and consumers who can’t find the new car they want should avoid vehicles with the highest increase. of the price of the used-car if they decide to just use it.
More from iSeeCars.com:
ISeeCars.com reviewed more than 1.5 million vehicles sold between April 1, 2022 and April 30, 2022. The new cars included in the review are from the 2021 and 2022 model years, while lightly-useed vehicles are defined as used vehicles from model years 2020 and 2021 Low volume models are not included in the review, as well as cars with more noticeable mileage and models discontinued in the 2021 model year. The average asking prices of less used cars are compared to new cars from the same model. The price difference for each car is expressed as a percentage of the new average price and ranked according to this difference.
ISeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, such as iSeeCars VIN review reports and rankings. Best Vehicle. ISeeCars.com has saved users more than $ 337 million so far by applying big data analytics powered by more than 25 billion (and growing) data points and using proprietary algorithms to analyze , score and rank millions of new cars and used cars.
This article, the Top 15 Cars That Are More Expensive Than Beforeoriginally appeared on iSeeCars.com.
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