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Used cars and trucks are finally cheaper than new ones again, but barely.
Used car prices have reached record highs over the past year. (Uli Deck/picture alliance via Getty Images)
Tight inventories of new vehicles caused by parts supply issues have been pushing up used values for the past year, with many selling for more than when they were new.
A new survey from online marketplace iseecars.com found that the average transaction price for a used vehicle from the 2020 to 2021 model years in April was 1% less than the list price for a new version, that’s down from 1.3% higher in January and represents a discount of $454.
The prices for several used models remain significantly inflated, however.
The Mercedes-Benz G-Class starts over $130,000. (Mercedes-Benz)
Used Mercedes-Benz G-Class SUVs were selling for a 21.5% premium, or $40,958 more than new examples, which start over $130,000.
Second-hand examples of the latest Chevrolet Corvette, which has been in short supply since it was introduced in 2020, stood at a 16.4% premium, or $13,594, while the Chevrolet Trailblazer subcompact SUV that starts at $22,995 new was commanding 14.4% over list at $3,856.
It’s not all bad news for used vehicle shoppers, however, as there are a few models that are going for significant discounts, including the Inifiniti QX60 (-23.7%), Acura MDX (23.0%), Mitsubishi Outlander (20.7%) and Nissan Pathfinder (20.3%), all of which were replaced in 2022 by all-new models.
The Nissan Pathfinder was redesigned for 2022. (Nissan)
Here’s a look at the top 15 used vehicles that are still more expensive than new ones and their price premium.
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