Buying a used car has traditionally been much more affordable than buying a new car, but in the current auto market, several used cars are now selling for more than the suggested sticker price for the new version of the model.
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“The problem is there aren’t enough new vehicles being produced, and that’s been true since the outbreak of COVID-19,” said Henry Hoenig, data journalist at Jerry, an AI-powered car insurance comparison service. “That shortage of new cars has caused many people to look for lightly used ones instead, driving up prices for those vehicles. Our latest findings show that lightly used 2021 models of seven of the 10 best-selling cars are worth more than the sticker price of a new 2022 model.”
This is true for three electric vehicle models as well.
Here’s a look at the popular car models identified by Jerry with 2021 used car prices coming in higher than the MSRP of the new models.
Ford F-150
Average used car price (2021 model year): $31,627
MSRP for new (2022 model year): $31,520
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Nissan Rogue
Average used car price (2021 model year): $30,289
MSRP for new (2022 model year): $27,150
Toyota Camry
Average used car price (2021 model year): $28,998
MSRP for new (2022 model year): $25,845
Honda CR-V
Average used car price (2021 model year): $30,642
MSRP for new (2022 model year): $26,800
Honda Civic
Average used car price (2021 model year): $26,776
MSRP for new (2022 model year): $22,550
Toyota Highlander
Average used car price (2021 model year): $37,924
MSRP for new (2022 model year): $35,855
Toyota RAV4
Average used car price (2021 model year): $32,891
MSRP for new (2022 model year): $26,975
Volkswagen ID.4
Average used car price (2021 model year): $43,837
MSRP for new (2022 model year): $37,495
Ford Mustang Mach-E
Average used car price (2021 model year): $49,131
MSRP for new (2022 model year): $43,895
Tesla Model 3
Average used car price (2021 model year): $52,168
MSRP for new (2022 model year): $46,990
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All data is sourced from Jerry and is accurate as of August 2022.
This article originally appeared on GOBankingRates.com: 10 Used Car Models That Are Selling for More Than the MSRP on New Models
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