Despite the declaration by General Motors that the chip crisis is over, it’s still a challenge for many people to find a new car these days.
Manufacturers, supply constrained as they try to get their hands on the microprocessors that are critical to modern vehicles, are struggling to keep up with demand—and that’s giving some cars in the already red-hot used car sector an even bigger boost.
New data from iSeeCars, which analyzes asking prices from over 1.5 million new and used cars sold between Jan. 1 and Jan. 31, 2022, finds that the average one-year-old, lightly used car sells for 1.3% more than its new version. In some cases, though, the number is much, much higher—in one case, a used vehicle was commanding $62,000 more than the new model.
“While choosing a lightly used car has traditionally been a cost-saving measure for car shoppers, that is no longer true in today’s market as the effects of plant shutdowns and resulting pent-up demand continue,” said Karl Brauer, executive analyst at iSeeCars in a statement.
Click through the gallery to see the top five makes and models that are selling at the highest premium:
Here’s the full list of the top 15:
Rank | Model | % Used Price More than New | Dollar difference |
1 | Mercedes-Benz G-Class | 35.6% | $62,705 |
2 | Chevrolet Corvette | 20.2% | $16,645 |
3 | Tesla Model 3* | 17.8% | $8,300 |
4 | Ford Bronco Sport | 16.4% | $5,766 |
5 | Chevrolet Trailblazer | 15.6% | $4,270 |
6 | Toyota RAV4 Hybrid | 14.8% | $5,298 |
7 | Chevrolet Suburban | 12.9% | $9,106 |
8 | Toyota Tacoma | 12.2% | $4,530 |
9 | Toyota C-HR | 12.2% | $3,230 |
10 | Kia Telluride | 12.1% | $5,552 |
11 | Kia Rio | 11.7% | $2,090 |
12 | Subaru Crosstrek | 11.7% | $3,524 |
13 | GMC Yukon | 11.3% | $8,258 |
14 | Toyota Sienna | 11.2% | $5,074 |
15 | Hyundai Accent | 11.2% | $2,010 |
* Tesla Model 3 average new car price estimated by applying used car trim distribution to pre-rebate new car MSRP as of March 2021.
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