Dealership markups on new cars, trucks, and sport utility vehicles have been pretty common recently. However, some of these are just ridiculous. One GMC Hummer EV was listed for $339,999, which is basically triple the MSRP. If you are car shopping anytime soon, let’s look at some of the dealerships participating in these shady practices.
The worst dealership markup was for a GMC Hummer EV
The GMC Hummer EV is one of the hottest vehicles hitting the pavement this year. Few have made it off the production line yet, mainly since GMC only produces about 12 daily. Seth Wadley GMC is located in Pauls Valley, Oklahoma, and happened to get ahold of the Hummer EV.
The 2022 Hummer EV Edition 1 started at $110,295. Once Seth Wadley got ahold of it, Markups.org shows the dealership listed the Hummer EV for $339,999, which is about a $229,704 markup. This listing is no longer up on the dealership website, but another one is listed for $273,999. That’s only a $163,704 markup, which somehow seems more reasonable.
Some of the worst dealership markups are on Ford pickup trucks
Pierre Ford, out of Seattle, Washington, has some 2022 Ford F-150 pickup trucks on the lot waiting for a buyer. Unfortunately, this Ford dealership is marking up these new Ford F-150 pickup trucks anywhere from $50,000 to $60,000 above MSRP. With the dealership markup, this
A 2022 Ford F-450 Super Duty base model starts at around $54,625. Pierre Ford has the “best price” listed at $111,460, a $65,835 markup. The dealership has a few 2022 Ford F-150 Raptors priced at $99,995, a $30,090 markup. Most of the pickup trucks available here have a $30,000 to $60,000 dealership markup added.
One Florida dealership marked a Jeep Grand Wagoneer up more than $40,000
Out of Tamarac, Florida, Arrigo Sawgrass Jeep has the privilege of being third on the list of worst dealership markups. This one is a doozy. Arrigo Sawgrass Jeep has a Jeep Grand Wagoneer listed for sale at the steep price of $154,983. The dealership added a $39,999 markup, listed as “market price value” on the window sticker. If that isn’t egregious enough, it also lists the “Arrigo Family Advantage” for $2,995. That includes tire shine, cup guards, and anti-theft VIN etching. Don’t forget the $399 tint. All in all, that’s about $43,393 in markups for a new Jeep.
The worst dealership markups are usually found in areas where people are willing to pay extra for a popular vehicle. Unfortunately, new and used cars are scarce with the semiconductor chip shortages. That means people are willing to pay a premium for cars, trucks, and SUVs. Keep an eye out for these “dealership markups” or “market price value” additions if you are out car shopping anytime soon. You can always ask for a printout of the fees if it is not listed online. Also, compare prices with other local dealerships to see if the markup is applied to other vehicles.