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  • iSeeCars: Used Cars That Are More Expensive Than New Ones

    iSeeCars: Used Cars That Are More Expensive Than New Ones

    If you're not sure whether to buy new or used, here's some info that could help you make your decision. It's the latest data from iSeeCars.com. It shows that while used car prices are stabilizing, many used vehicles remain pricier than their new counterparts. Especially when it comes to gas guzzling expensive SUVS and economical smaller cars. The most expensive used vehicle out there compared to new? The Mercedes G-Class.   

    In its latest study, iSeeCars.com analyzed asking prices from over 1.5 million new and used cars sold in April 2022. Researchers found the average 1- to 5-year-old used car costs just 1.0 percent less than its new version. 

    “Used car prices have improved since January, when the average used car was actually more expensive than its new version,” said iSeeCars Executive Analyst Karl Brauer. “The average lightly used car is currently just 1.0 percent or $454 less than its new version, and when you compare that to prices before the microchip shortage when the average lightly-used car cost 17 percent less, you see that used car prices are still well above normal.

    2022-Average-Used-Car-Prices-and-Year-over-year-Differences3

    Used car prices have been on the rise since April 2021 due to the microchip shortage.  Looking at things a year later, the average price of a 1-5-year-old used car was $34,392 in April, up 23.9 percent over 2021. It's down from $34,449 in March, which was a 30.4 percent increase year-over-year. 

    Best Cars to Buy New: Used Cars with The Highest Increases Over New Versions:


    If you are trying to save money buying used, you'll want to rethink that strategy if you considering vehicles on this list.   iSeeCars says these 15 vehicles are more expensive than their new car equivalent. 

    Top 15 Used Cars More Expensive than New - 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

     

    Top 15 New Cars More Expensive Than Used

    Now for the list of used cars that offers the greatest savings when purchased used over new. But, keep in mind the savings won't be as much as they were pre-pandemic.  iSeeCars analyst Karl Brauer said: “Used car shoppers can still save money buying a lightly-used car instead of a new car, but the savings are 25 to 30 percent lower than what we saw pre-pandemic.”

    iSeeCars Top 15 New Cars More Expensive Than Used

    Rank (By Percentage)

    Model

    % Savings Used Over New

    $ Savings Used Over New

    1

    INFINITI QX60

    23.7%

    $12,979

    2

    Acura MDX

    23.0%

    $13,075

    3

    Mitsubishi Outlander

    20.7%

    $6,853

    4

    Nissan Pathfinder

    20.3%

    $8,735

    5

    Ford Mustang

    20.2%

    $10,160

    6

    BMW 7 Series

    18.9%

    $19,883

    7

    Jeep Cherokee

    18.3%

    $7,038

    8

    Alfa Romeo Giulia

    18.2%

    $9,139

    9

    INFINITI Q50

    16.0%

    $8,050

    10

    Nissan Maxima

    15.3%

    $6,648

    11

    Lincoln Navigator L

    15.1%

    $15,636

    12

    Nissan Murano

    14.9%

    $6,238

    13

    Jeep Compass

    14.7%

    $5,104

    14

    Audi A6

    14.4%

    $9,471

    15

    Hyundai Tucson

    14.2%

    $4,723

    Overall Average

    1.0%

    $454

     

    To read the complete iSeeCars study click here.

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    Photo Credit:  Mercedes-Benz.