One of the most surprising economic outcomes of the pandemic has been the rise in used car prices. In some cases, pre-owned vehicles are selling for more than their brand-new counterparts, creating a unique trend in the automotive market.
The surge is driven by several factors: a global microchip shortage, supply chain disruptions, and a reduced inventory of both new and older vehicles. These issues have made used cars, especially certain models, extremely desirable. Here are 10 cars that are commanding higher prices used than they did fresh off the lot.
2020 Chevrolet Corvette Stingray Coupe
Price new: $81,425
Price used: $98,135
High-end performance cars like the Corvette Stingray are in high demand, especially since they often include optional features that inflate their value. This sleek sports car is selling for over $16,000 more in the used market, with buyers in Boston and other regions willing to pay a premium for the status and thrill it offers.
2021 Kia Telluride SX
Price new: $50,648
Price used: $53,999
The Kia Telluride has been a consistent favorite among SUV enthusiasts, thanks to its spacious interior, reliability, and high safety ratings. In cities like Seattle, used Tellurides with minimal mileage are commanding prices well above their original MSRP, proving the power of its reputation.
2021 Toyota Tacoma TRD Sport
Price new: $41,862
Price used: $42,998
Toyota’s Tacoma has long been a staple in the pickup truck market, and its durability continues to make it a favorite among buyers. Even lightly used models are selling for more than new ones, thanks to their unmatched reliability and the growing demand for trucks nationwide.
2021 Subaru Forester Sport
Price new: $32,987
Price used: $34,649
The Subaru Forester appeals to adventure seekers with its all-wheel drive and rugged build. In areas with challenging terrain and snowy winters, like Colorado and Michigan, the Forester Sport remains a hot commodity, with prices that edge out new models.
2020 Dodge Challenger SXT
Price new: $27,869
Price used: $32,999
Muscle car enthusiasts are willing to pay extra for the Dodge Challenger SXT, a vehicle that combines performance and comfort. Across the U.S., this roomy yet powerful car is fetching prices nearly $5,000 higher than its original sticker value.
2020 Honda Civic Si
Price new: $24,602
Price used: $31,998
The Honda Civic Si has earned a loyal following for its affordability and reliability. In states like Ohio, where Honda manufacturing plants are prominent, used models are selling for as much as $7,000 more than new ones, reflecting the enduring popularity of this compact car.
2021 Toyota RAV4 Hybrid XSE
Price new: $38,781
Price used: $44,998
Hybrid vehicles are booming in today’s eco-conscious market, and the RAV4 Hybrid is a standout choice. With impressive fuel efficiency and a reputation for dependability, this Toyota model is consistently selling for thousands more than its original price.
2020 Honda Odyssey EX
Price new: $33,944
Price used: $37,590
Minivans like the Honda Odyssey are experiencing a renaissance as families prioritize space and safety. Buyers are shelling out premiums for used models with the EX trim, which offers advanced features without breaking the bank.
2020 Kia Rio
Price new: $16,566
Price used: $20,590
Affordable sedans like the Kia Rio are seeing a surprising surge in value due to the microchip shortage affecting new car production. This budget-friendly car offers fuel efficiency and Kia’s exceptional warranty, making it a top pick for buyers seeking reliability on a budget.
2021 Tesla Model 3 Standard Range Plus
Price new: $41,190
Price used: $49,950
Tesla’s popularity continues to soar, with used Model 3 vehicles commanding a significant premium in cities like Dallas. Buyers are drawn to the brand’s innovation, sleek design, and the growing appeal of electric vehicles, even at a 21 percent markup.
The Bottom Line
The used car market has taken an unexpected turn, with certain models becoming more valuable over time. Whether it’s due to brand reputation, eco-conscious design, or limited supply, these vehicles are defying the traditional depreciation trend. If you’re in the market to buy or sell, it’s worth doing your homework to understand how regional demand and market conditions can impact prices.
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