Don’t expect a deal on this Jeep anytime soon. According to recent iSeeCars data, the Jeep Wrangler SUV is the most marked-up new car in various states in the country. Coming in second is the brand-new Ford Maverick pickup truck coming in at 34.7% above MSRP. What’s up with these new car prices?
The Jeep Wrangler and Wrangler Unlimited are severely overpriced
Dealership markups are all too common these days. The more popular the vehicle is, the higher the markup. While some brands denounce these markups (looking at you, Ford), that doesn’t mean it isn’t happening every day. According to iSeeCars, this recent study took a look at 1.2 million new car listings last month and found that most new cars sit somewhere around 9.9% above MSRP.
The Jeep Wrangler managed to rack up this accolade in 15 states. Suppose you include the Jeep Wrangler Unlimited (the four-door version), that came in at an astonishing nine states. The Jeep Wrangler is the most overpriced new car in 24 states. What the heck, Jeep?
In California, buyers can anticipate paying 26.7% above MSRP for the Jeep Wrangler. That’s around $8,793 more for no reason. In Colorado, that goes up to 31.2%, which is about $10,321 over MSRP. In Idaho, the Jeep Wrangler Unlimited is marked up 27.3%, which works out to be almost $12,000. No matter how you slice it, those prices are ridiculous.
The Jeep Wrangler and Jeep Gladiator are the most marked-up new car in 30 out of 50 states
Adding in the rest of the Jeep vehicles makes an even more impressive statistic. Factoring in the overpriced Jeep Gladiator and the brand is the most marked-up new car in 30 states. However, it isn’t the most overpriced new car on the list.
The Ford Maverick compact pickup truck made the list six times. In Pennsylvania, buyers can anticipate paying 34.7% above MSRP, which is about $7,843. Ford made the list of overpriced cars 15 times with the Maverick, Bronco, and even the Ford F-150 in Alaska.
The Chevrolet Corvette only made the list once. In Kentucky, the Corvette is marked up 24.1% or about $16,006 over MSRP. For the most part, Jeep and Ford prices are running rampant all over the country.
Don’t be too particular about a new car if possible
The semiconductor chip shortage continues to impact new car prices and used car prices. While new vehicles remain in short supply, it makes sense that prices are high. Dealerships know that buyers are in need and mark up the prices to get a little extra.
Many buyers have tried to find a good deal on a used car, but that’s not happening. One suggestion for finding a reasonably priced car is to avoid super popular models (apparently the Jeep Wrangler and Ford Maverick) and try to broaden your search area. Popular makes and models will be marked up, so try to find something similar that might have a good deal available.
If you must have a Jeep Wrangler, compare prices at dealerships to try and find one that isn’t marking the prices up. You might still be able to find a good deal on a new car if you look around.