A perfect storm of supply disruptions - microchip shortages, factory closures, supply chain issues, and the Cash for Clunkers program wiping out older affordable inventory - has pushed used car prices sky-high. Current used car prices are 42% higher than in the pre-pandemic first quarter of 2020, according to Consumer Reports.
The 10 Cars Selling for More Used Than New
Vehicle | New Price | Used Price | Premium |
2021 Toyota Tacoma TRD Sport | $41,862 | $42,998 | +$1,136 |
2021 Tesla Model 3 | $41,190 | $49,950 | +$8,760 (+21%) |
2021 Toyota RAV4 Hybrid XSE | $38,781 | $44,998 | +$5,217 |
2020 Honda Civic Si | $24,602 | $31,998 | +$7,396 |
2020 Kia Rio | $16,566 | $20,590 | +$4,024 |
2021 Kia Telluride SX | $50,648 | $53,999 | +$3,351 |
2020 Honda Odyssey EX | $33,944 | $37,590 | +$3,646 |
2020 Dodge Challenger SXT | $27,869 | $32,999 | +$5,130 |
2020 Chevy Corvette Stingray | $81,425 | $98,135 | +$16,710 |
2021 Subaru Forester Sport | $32,987 | $34,649 | +$1,662 |
Key Takeaways
Biggest Dollar Premium: Corvette Stingray at +$16,710 above original MSRP
Biggest Percentage Premium: Tesla Model 3 at +21% above new price
Most Surprising: The budget Kia Rio - chip shortages hit affordable cars hardest since manufacturers prioritized higher-profit luxury models, making even economy cars scarce
Bottom line: If you own one of these vehicles right now, you're sitting on more equity than you might realize - especially Tacoma, Telluride, or Corvette owners.
Thanks for reading everybody!
-Paul