The car world is and has been upside down. In “the old days”, new cars depreciated. There was no doubt that owning and using a vehicle for a couple of years decreased its value, but that’s not always the case anymore. iSeeCarsA recent study showed that several used models come at a price on top their new MSRPs, which could mean a lot of things, including that things are still crazy in the used car market.
The good news is that the situation is much better than a year ago. iSeeCars found that lightly used cars are priced 8.1 percent below their new MSRPs on average, a 16.6 percent improvement over 2022. Even several used models are being discussed for more than their new counterparts, with a specially sold model priced more than 10 percent above new. .
Ten of the highest priced used cars in the iSeeCars study include:
- Honda Civic Hatchback: 1% above new MSRP
- Ford Bronco: 1.7%
- Kia Carnival: 2.2%
- Toyota RAV4 Hybrid: 2.4%
- Toyota Corolla Cross: 2.9%
- Toyota RAV4 Prime: 3.5%
- Toyota Sienna: 3.7%
- Mercedes-Benz G-Class: 4.6%
- Toyota Corolla Hybrid: 7.9%
- Ford Maverick: 12.3%
Some of the vehicles on this list aren’t that amazing. If you’ve bought a Ford Maverick lately, you likely understand how hard it is to find them at MSRP when they’re new, so inflated used prices are annoying, but expected. There are also several hybrids on the list, showing that buyers want fuel-efficient vehicles but are having trouble getting them.
Interestingly, used Ford Broncos, which are still routinely listed for new prices well above MSRP, average just 1.7 percent above new prices. The Mercedes-Benz G-Class tends to fetch more than the new MSRP, especially the AMG model, for which some hopeful buyers have reported being asked to pay 50 percent or more over the sticker .
If you’re looking for a used car and you’re having a hard time getting a reasonable price, it’s best to wait. Used car prices have been on a downward trend over the past year, and while there are some good deals out there now, there’s likely to be even more to come.
