The car market’s kind of crazy right now, and if you’ve been looking for a new SUV, you probably already know that. Chip shortage, production delays, and supply chain issues have made new SUV availability dwindle to almost nothing. That, in turn, has led to a rise in demand for used SUVs. And, as one might expect, that rise in demand means that the price of used SUVs is up – way up. In fact, these seven SUVs will cost you more used than a brand new SUV, according to Business Insider.
A used Tesla Model Y costs nearly $9,000 more used than new
A brand new 2022 Toyota RAV4 is $3,000 cheaper than used
The 2022 Toyota RAV4 is great for a lot of reasons. One of those is its price. Brand new, a 2022 Toyota RAV4 will cost you $31,492. A used Toyota RAV4, on the other hand, is $31,492. You’ll pay $2,881, or 9.1% more to buy a used Toyota RAV4. Of course, a new RAV4 is only a good deal if you can find one.
A new 2022 Kia Telluride is a better deal than used
Good luck finding a brand new 2022 Kia Telluride. If you can, you’ll save money versus buying a used Telluride. The 2022 Kia Telluride average price costs $46,429. A used Kia Telluride is going for $50,295 on average. That’s $3,866, or 8.3% more than a new Kia Telluride.
The 2022 GMC Yukon is a full-size SUV that costs less than a used Yukon
The 2022 GMC Yukon is appealing for those looking for a full-size SUV that’s solid, reliable, and built like a truck. If you can find a 2022 GMC Yukon, you’ll be in better financial shape than if you buy a used Yukon. The 2022 GMC Yukon is selling for an average of $72,870, while a used GMC Yukon is going for roughly $78,352. That means you’ll pay $5,483 more for a used GMC Yukon than you would for the 2022 version. At a difference of 7.5%, a new Yukon is certainly the way to go, if you can.
The Subaru Crosstrek is one of the best SUVs selling for more used
If you’re looking for a Subaru Crosstrek, you’d be wise to shop new. A 2022 Subaru Crosstrek is selling for $30,039 on average. A used Subaru Crosstrek, on the other hand, is running approximately $1,746 more, at $31,785. Don’t pay 5.8% more for a Crosstrek if you don’t have to.
The 2022 Chevy Tahoe will save you money over a used Tahoe
The 2022 Chevrolet Tahoe is another full-size SUV that will cost you less than if you buy a used version. The average going price for the 2022 Chevy Tahoe is $65,518. On the other hand, you’ll pay approximately $69,277 for a used SUV, a hike of 5.7%. If you don’t have to overpay for your Tahoe by $3,760, don’t.
A used Hyundai Palisade will wipe out more of your savings than new
The 2022 Hyundai Palisade is one of the best new SUVs out there. That makes it harder to find new, but you’ll save money if you can. A 2022 Hyundai Palisade costs about $46,706, while a used Hyundai Palisade is generally selling for $49,038. That’s a full 5% more, or $2,332.
The best used SUVs are the hardest to find right now, but their new versions may be even more difficult. That’s certainly contributing to the price of both being higher than usual. If you don’t absolutely have to buy a new SUV right now (or new-to-you), it might be a good idea to hold off. At the very least, try to give yourself enough time to find a good deal so that you aren’t overpaying too much for your SUV. After all, the more you overpay for your SUV now, the more it will depreciate later.