Car buying can be a challenging process, even in normal times. But thanks to the pandemic, it’s gotten worse for the average car shopper. The chip shortage has caused a lack of cars, increasing prices for new and used cars. In some cases, a used car can cost more than a new version of that same car, and here’s a look at five such cases.
5. Porsche Taycan
According to Nexstar, a used Taycan costs significantly more money than a new one. This may be because there’s a six-month waitlist for a new Taycan, so folks who want one will either have to wait six months or buy a used version. As such, the average cost of a used Taycan is currently $138,714, and that’s $14,009, or 11.2% more than the price tag of a new one.
It’s no surprise that the Taycan is in such high demand. This Porsche supercar can be extremely fast, especially if folks go for the top trims. For example, the Turbo S trim can go from 0 to 60 mph in just 2.4 seconds. The Taycan has a limited range, though, as it’s just over 200 miles depending on the trim.
4. Toyota RAV4 Hybrid
The RAV4 Hybrid is another car that’s being hit with inventory issues, according to Nexstar. As such, a used version of this in-demand Toyota SUV will cost 13.5% more than a new version, representing a price difference of $5,002. Unlike the Taycan, the RAV4 Hybrid starts at about $29,000, so even a used version can still be affordable. This is especially true thanks to the RAV4 Hybrid’s excellent fuel economy of approximately 40 mpg combined.
3. Chevrolet Trailblazer
Unsurprisingly, this Chevy subcompact SUV is another SUV that’s being hit with supply issues, and many customers are trying to buy one. As such, a used Trailblazer will cost about 14.4% more than a new one, a price difference of about $3,856.
The good news is that the Trailblazer is a pretty affordable SUV. It starts at just under $22,000, so the price difference for a used one won’t make it unaffordable. In terms of specs, the Trailblazer is a pretty basic SUV, but it has a good fuel economy of about 31 mpg.
2. Chevrolet Corvette
Just like the Trailblazer, the Corvette is another model that’s being hit by both high demand and low supply, according to Nexstar. This is true for the 2022 model year and may continue to be true for the 2023 model year. A used Corvette will cost 16.4% more than a new one, which means a price gap of $13,594.
The Corvette already starts at about $62,000, so that’s a steep price increase for a used version. Drivers should be able to have fun with their Corvette either way, as it’s equipped with a mighty 6.2-liter V8 that gets 495 hp.
1. Mercedes-Benz G-Class
The G-Class from Mercedes-Benz has the highest price increase for a used car, according to Nexstar. A used G-Class costs 21.5% more than a new one, and that’s a staggering $40,958 price difference. Once again, this price difference is due to an imbalance of supply and demand.
The G-Class starts at about $133,000, but because Mercedes-Benz can’t make enough of them, would-be buyers looked into the used car market instead. The specs of the G-Class aren’t remarkable, as its true feature is how luxurious its interior is. But it’s still a capable SUV nonetheless.