New cars may be the new used cars for bargain shoppers as inventories of both continue to be tight.
The average list price for a lightly used 2019-2020 model year vehicle was just 3.1% lower than a new one in early June, according to survey by iseecars.com that found 16 models with prices that were higher than those of their factory-fresh counterparts.
Used Kia Tellurides topped the list a 8.1% over the new price, which equates to $3,564 on average, while used GMC Sierra 1500 and Toyota Tacoma pickups were commanding premiums of 6.4% and 5.2%, respectively.
“Car shoppers who are in the market for a vehicle may have a hard time finding the most in-demand models, and while used versions may be available now, they might cost even more than new versions of the vehicle,” iSeeCars Executive Analyst Karl Brauer.
“Those looking to save money on a used car in today’s market should consider less popular models that likely won’t carry the same price hikes as the hottest-sellers.”
Many industry forecasters expect used car prices to remain at their lofty levels through the summer, at least, although Manheim said the price increases were moving at a decelerating pace in the first two weeks in June.
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In the meantime, here are the 16 cars you might be overpaying for right now and by how much:
Kia Telluride: 8.1%, $3,564
GMC Sierra 1500: 6.4%, $3,466
Toyota Tacoma: 5.2%, $1,955
Mercedes-Benz G-Class: 4.1%, $7,447
Toyota RAV4 Hybrid: 3.9%, $1,357
Toyota Tundra: 3.7%, $1,831
Dodge Challenger: 3.5%, $1,388
Toyota 4Runner: 3.3%, $1,485
Hyundai Palisade: 2.9%, $1,293
Tesla Model 3: 2.9%, $1,268
Honda Civic : 2.8%, $727
Dodge Charger: 2.3%, $897
Honda Odyssey: 1.2%, $435
Kia Rio: 0.7%, $127
Subaru Crosstrek: 0.6%, $168
Subaru WRX: 0.2%, $81
