- Don’t buy a Kia Rio right now, it’s selling for 23% over MSRP
- The same goes for the 2022 Hyundai Sonata, trading hands at 18% over MSRP
- The Chevy Spark simply isn’t good enough to justify the 21% price jump
Now is not the time to be buying a new car. Really. Don’t. However, if you absolutely must (presumably due to some act of God), then at the very least you should stay away from these awful new car deals. They’re not really deals, as Consumer Reports found. In fact, the 2022 Kia Rio and others are selling for over MSRP. And in a cheap car, that’s not ideal.
The 2022 Kia Rio is not a new car deal anymore
First up on the list of terrible new car deals is the 2022 Kia Rio, which is also offered as a 5-door hatch. Normally, this new car is in fact a deal. It’s one of the cheapest new cars on the road today, with an MSRP of just $16,790. However, Consumer Reports found the Rio is trading hands for an average of $20,584. That’s nearly $4K over sticker price.
Don’t pay more than MSRP for a 2022 Hyundai Sonata
The crappy new car deals don’t stop with the Rio, either. The 2022 Hyundai Sonata is a solid midsize sedan, but CR found it to change hands for more than it’s worth more often than it should. Right now, the average transaction price is more than 18% over MSRP, at $35,243. Moreover, Consumer Reports ranked the 2022 Hyundai Sonata somewhat poorly for owner satisfaction. Frankly, for Volkswagen GTI money, we’ll take the swiss-army-knife GTI, supposing that isn’t marked up too.
The 2022 Hyundai Ioniq isn’t worth the money
This one is especially bad, especially when you get a look at the new Hyundai Ioniq 5. Now that’s a cheap EV to get excited about. Regardless, Consumer Reports found the current 2022 Hyundai Ioniq to be trading hands an average of nearly $5,000 over MSRP. While both the hybrid and EV models get excellent fuel economy or range, the increase in price just isn’t worth it. That price jump adds up to a transaction price of $31,738. There are much better Hyundai-Kia models out there for that money.
Is the Chevy spark a good new car deal?
Finally, that leaves us with the 2022 Chevy Spark. We normally champion smaller, less wasteful cars here at MotorBiscuit, but the Spark might just be a bit too small. Sure, it’s a great car for the city, but so is the larger (and admittedly more expensive) Volkswagen Golf. And when the Spark is changing hands for a 21% premium? Forget about it. We’d rather take a bus, especially in this economy.