Why Are These Used Cars Selling for More Than Their New Models?

The shortage of new car models has pushed the prices of some used cars to a level where some are selling for more than they did when new.

How is it that dealerships can charge more for these pre-owned models? They can do this because the manufacturer doesn’t offer an MSRP for used models, and dealers can sell them for whatever they can get. Some vehicles have come into such high demand that locations are selling the pre-owned models for more than they were when new. Let’s take a look at a few of them.

Mercedes-Benz G-Class

The top model in the Mercedes-Benz lineup is the G-Class, also known as the G-Wagen. This incredible luxury machine doesn’t sell in high numbers, but it’s in high demand. The G-Class brings a unique build and signature feeling that dates back several decades. This military-style luxury SUV handles the fun and active driving of the off-road trails, but it’s selling for an extremely high price. Currently, the G-Class is selling at nearly 21.5% over what it cost when it was new.

Chevrolet Corvette

The latest version of the Corvette came to the market in 2020, and those C8 versions that have been traded in are selling like hotcakes. These used cars are powerful, fun, active, and sporty. The C8 models are in high demand and have the engine in the middle of the car. Right now, these cars are selling for 16.4% more than what they cost when new. If you’re looking for an excellent sports car, you’ll pay a lot more, but it could be worth it to you to have a Corvette to drive.

Toyota RAV4 Hybrid

There are more compact crossover SUVs on the roads right now than nearly every other type of vehicle. Why then is the Toyota RAV4 Hybrid selling at 13.5% more than when it was new? This hybrid SUV is in such high demand that it’s going for a premium price at a rate that you would never expect. You’ll love the benefits of the impressive fuel economy and the way it should give you the drive you want when you head out on the road, but you’ll pay for those benefits.

Porsche Taycan

Another sports car makes its way to the list, and it’s one of the most impressive used cars in the market. If you want to see what an electric vehicle can do, the Porsche Taycan is exactly what you’re looking for. Like the G-Class, the Taycan does not sell fast, but it’s in high enough demand that you’ll find this car priced at 11.2% above the price it was when it was new. Check out how this amazing car can give you the amazing ride you want to enjoy.

Chevrolet Suburban

You would think the Chevrolet Suburban would be such a common SUV that it wouldn’t be one that sells at a premium, but that’s not the case. Recent models of this big brute are selling at 11.2% above the price offered when they were new. This means you’ll have to pay a lot more to have the big and impressive SUV you want to drive. If you’ve got a large family, the Suburban can be the ideal SUV, but among used cars, the price might turn you away toward something else.

Hyundai Accent

An extremely common car in the automotive market is the Hyundai Accent. This car doesn’t seem like it should be offered at a premium price, but that’s exactly what’s happening right now. The Accent is a subcompact sedan that has a basic package of features, making it one of the least expensive cars in the market. Even so, you’ll pay more than 10.3% above the new car price if you decide this is the car that you’ll want to experience when you get behind the wheel.

GMC Yukon

Another full-size SUV from the GM brand lineup that’s facing higher prices is the GMC Yukon. If you’re looking for one of the used cars that can be great for you to drive, the Yukon offers a premium driving package and plenty of room. If you have to drive a large SUV, you’ll pay 10% above the new-car price when you get behind the wheel of the GMC Yukon. If you want to drive this full-size SUV get ready to pay a premium price.

Toyota Tacoma

Do you want to drive a used Toyota Tacoma? You might want to wait and buy a new one when there are available. Right now, the Tacoma is selling used at 9.3% above the price it was when new. This is a midsize truck that can offer you the fun of off-roading and offer you the capabilities you want when you drive. If you choose to drive the Tacoma, you’ll pay more than when it was new, but that might be worth it for one of the most capable trucks in the market.

Kia Seltos

The Seltos hit the sweet spot in the Kia SUV lineup. Even though Kia offers several SUVs in the lineup, the Seltos is the compact crossover model that brings you the quality drive you want and room for a growing family. Right now, the Seltos is selling used for 9.2% more than it was when new. You’ll love the drive and the packaging, but you won’t love the fact that you’ve got to pay more for one of the used cars offered.

Toyota Sienna

If you thought the minivan market was dead, you wouldn’t think that any vehicle in the class would sell for more when used than new. That’s not the case with the Sienna, which had reported used models selling for up to 8.9% more now than when they were brand new. If you need a family-sized vehicle to drive, this minivan was one of the only models offered with AWD, and now it’s a vehicle that only comes as a hybrid model.

There are many used cars in the market that aren’t facing these premium prices. You’ll want to find one of those models to buy if you don’t want to face these higher prices.