5 Used Cars That Are Now More Expensive Than New
The semiconductor shortage and other supply chain issues that have been lowering new vehicle inventories for several months have slowed depreciation considerably and drastically increased the value of used vehicles.
The gap between the two has narrowed to the point where it's sometimes better to buy a brand-new model (not taking into consideration delivery times, of course). Some used vehicles that are in high demand are even priced above their original or current MSRP. This is unheard of outside of the collector models niche.
- Also: Used Car Prices to Drop in Late 2022, KPMG Predicts
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American research firm iSeeCars has published a list of 15 used vehicles that are currently in this unusual situation. This is discouraging for buyers, indeed. But for those who wish to sell their vehicle, it can seriously pay off!
"Dealers may think that used car buyers are willing to pay more to get their hands on a slightly used vehicle right away rather than waiting a long time for a brand new model," says Karl Brauer, executive analyst at iSeeCars.
What about the Quebec market? Here are five examples of used vehicles posted on Otogo.ca that are sure to raise eyebrows:
1. 2021 Toyota Tacoma Nightshade , 8 829 km
Asking price : $62,985 / Base MSRP for a new model: $52,950
2.2021 Toyota Tundra CrewMax TRD Off Road , 8 989 km
Asking price : $64,699 / Base MSRP for a new model: $51,730
3. 2020 Tesla Model Y , 39 841 km
Asking price : $87,000 / Base MSRP for a new model: $76,990-$85,290
4. 2020 Kia Telluride EX, 47 002 km
Asking price : $51,499 / Base MSRP for a new model: $46,495
5. 2018 Honda Civic Type R, 20 860 km
Asking price : $46,495 / Base MSRP for a new model : $46,200
