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iSeeCars: Used Cars That Are More Expensive Than New Ones

Written By: CarPro | May 19, 2022 11:30:00 AM

If you're not sure whether to buy new or used, here's some info that could help you make your decision. It's the latest data from iSeeCars.com. It shows that while used car prices are stabilizing, many used vehicles remain pricier than their new counterparts. Especially when it comes to gas guzzling expensive SUVS and economical smaller cars. The most expensive used vehicle out there compared to new? The Mercedes G-Class.   

In its latest study, iSeeCars.com analyzed asking prices from over 1.5 million new and used cars sold in April 2022. Researchers found the average 1- to 5-year-old used car costs just 1.0 percent less than its new version. 

“Used car prices have improved since January, when the average used car was actually more expensive than its new version,” said iSeeCars Executive Analyst Karl Brauer. “The average lightly used car is currently just 1.0 percent or $454 less than its new version, and when you compare that to prices before the microchip shortage when the average lightly-used car cost 17 percent less, you see that used car prices are still well above normal.

2022-Average-Used-Car-Prices-and-Year-over-year-Differences3

Used car prices have been on the rise since April 2021 due to the microchip shortage.  Looking at things a year later, the average price of a 1-5-year-old used car was $34,392 in April, up 23.9 percent over 2021. It's down from $34,449 in March, which was a 30.4 percent increase year-over-year. 

Best Cars to Buy New: Used Cars with The Highest Increases Over New Versions:


If you are trying to save money buying used, you'll want to rethink that strategy if you considering vehicles on this list.   iSeeCars says these 15 vehicles are more expensive than their new car equivalent. 

Top 15 Used Cars More Expensive than New - iSeeCars

Rank (By Percentage)

Model

% Used Price More than New

$ Used Price More than New

1

Mercedes Benz G-Class

21.5%

$40,958

2

Chevrolet Corvette

16.4%

$13,594

3

Chevrolet Trailblazer

14.4%

$3,856

4

Toyota RAV4 Hybrid

13.5%

$5,002

5

Porsche Taycan

11.2%

$14,009

6

Chevrolet Suburban

11.2%

$7,881

7

Hyundai Accent

10.3%

$1,886

8

GMC Yukon

10.0%

$7,233

9

Kia Rio

9.7%

$1,824

10

Toyota Tacoma

9.3%

$3,405

11

Kia Seltos

9.2%

$2,441

12

Toyota Sienna

8.9%

$4,065

13

Toyota Corolla Hybrid

8.0%

$2,138

14

Ford Mustang Mach-E

8.0%

$4,292

15

Toyota Prius Prime

7.9%

$2,508

Overall Average

-1.0%

-$454

 

Top 15 New Cars More Expensive Than Used

Now for the list of used cars that offers the greatest savings when purchased used over new. But, keep in mind the savings won't be as much as they were pre-pandemic.  iSeeCars analyst Karl Brauer said: “Used car shoppers can still save money buying a lightly-used car instead of a new car, but the savings are 25 to 30 percent lower than what we saw pre-pandemic.”

iSeeCars Top 15 New Cars More Expensive Than Used

Rank (By Percentage)

Model

% Savings Used Over New

$ Savings Used Over New

1

INFINITI QX60

23.7%

$12,979

2

Acura MDX

23.0%

$13,075

3

Mitsubishi Outlander

20.7%

$6,853

4

Nissan Pathfinder

20.3%

$8,735

5

Ford Mustang

20.2%

$10,160

6

BMW 7 Series

18.9%

$19,883

7

Jeep Cherokee

18.3%

$7,038

8

Alfa Romeo Giulia

18.2%

$9,139

9

INFINITI Q50

16.0%

$8,050

10

Nissan Maxima

15.3%

$6,648

11

Lincoln Navigator L

15.1%

$15,636

12

Nissan Murano

14.9%

$6,238

13

Jeep Compass

14.7%

$5,104

14

Audi A6

14.4%

$9,471

15

Hyundai Tucson

14.2%

$4,723

Overall Average

1.0%

$454

 

To read the complete iSeeCars study click here.

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Photo Credit:  Mercedes-Benz.