Considering the recent computer chip and inventory shortages, it’s no surprise that prices for used cars have risen in the past few months. Car buyers have reportedly been paying the sticker price for new cars and marked-up prices for used ones. However, the prices for used Saturns have surprisingly increased more than any other car brand, according to data from Car Gurus.
Saturn prices have risen exponentially
You might not remember the Saturn brand name. However, the now-defunct automaker was a nameplate under General Motors from 1990 up until 2010 and was marketed as a “new kind of car company,” when it first appeared on the market.
In addition to a no-haggle dealership sales model, Saturn differentiated itself through its vehicle lineup throughout the years. With plastic-clad compact cars that were efficient enough to steal some of the public’s attention away from Japanese rivals in the early 90s, Saturn saw some success during its production run. However, that run was ended following GM’s 2009 bankruptcy and restructuring, according to Auto Trends Magazine.
As you can imagine, buying any Saturn model in the used market since then has been a super-affordable affair. However, The Drive recently reported that transaction prices have increased more than any other car brand in the past 90 days. According to the Car Gurus data, prices for Saturn vehicles have increased by 26.18% since March 2021 and 30.24% since June 2020. By comparison, Subaru’s sales increased by 12.13% and 20.26%, respectively, according to Autoblog.
Buyers could be running out of affordable used car options
By now, you might be wondering why Saturn prices are on the rise, considering the extinct automaker hasn’t been in the public spotlight in ages. According to Motor1, a good reason for the price increase could be due to used car buyers running out of affordable options. While many buyers would rather stick to car brands that are still in service, other buyers with super-tight budgets are now turning to older, or less mainstream brands, like Saturns, to get the budget-friendly transportation that they need.
Just because the data proves that Saturn vehicle prices are rising, it doesn’t mean that they are super expensive. Autoblog reports that Saturn’s transaction prices are still among the lowest in the market as the average sale price for one is $6,284. If you compare that to the average selling price of a Toyota ($23,734) or a Kia ($17,507), you can start to see why buyers are flocking to old Saturn vehicles.
Should you buy a Saturn?
If you’re wondering if buying a Saturn now will be like buying Bitcoin back in 2010, think again. While the prices of Saturns are on the rise, they might not be for long, which means that buying one now won’t likely lead to any financial gains in the near future. But if you’re looking for a super affordable means of transportation, then you can add a Saturn vehicle to your shopping list. Just remember that you will be probably paying a premium for one.