Used car models that are now more expensive than they were new

  • Car dealers are facing a supply shortage that has sent used car prices soaring.
  • Some 2019 and 2020 cars are now cheaper to buy new, according to an analysis by iSeeCars.
  • The Kia Telluride costs $3,564 more to buy than buying new, according to the analysis.
  • See more stories on Insider’s business page.

Skipping a new car for a lightly used car has always been the most economical way to buy a car. Not anymore.

In the strange and sometimes completely backward times we live in, it’s actually cheaper to buy new cars than used ones. A recent analysis of car research site iSeeCars.com identified 16 such vehicles, some of which cost thousands Continued buy a second hand.

The pandemic has led to a dwindling supply of cars and an outsized demand for them, causing used vehicle prices to skyrocket. Amid financial uncertainty, people have clung to their cars longer, choking off a key pipeline of used cars to dealerships. Meanwhile, a shortage of microchips has hampered automotive production globally and reduced the supply of new models.

iSeeCars.com’s analysis of some 470,000 2019 and 2020 model year cars that went on sale in June found that the price gap between used cars and new cars had narrowed significantly in recent months. In early November, the average used car cost almost 11% less than its new counterpart. In June, this gap was just over 3%.

Some particularly popular models – those that are hard to find right now – cost thousands more on the used market. See the list of 16 vehicles below.

1.Kia Telluride

Side view of a gray 2020 Kia Telluride in a field.

A 2020 Kia Telluride.

Kristen Lee/Business Insider


  • Average new price: $44,166
  • Average price used: $47,730
  • Difference: $3,564, 8.1%

2.GMC Sierra 1500

A black 2020 GMC Sierra Denali truck against the backdrop of the mountains.

A GMC Sierra Denali.

GM


  • Average new price: $54,205
  • Average price used: $57,671
  • Difference: $3,466, 6.4%

3.Toyota Tacoma

A gray Toyota Tacoma truck driving on red sand and rocks.

A Toyota Tacoma.

Toyota


  • Average new price: $37,902
  • Average used price: $39,857
  • Difference: $1,955, 5.2%

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4. Mercedes-Benz G-Class

A gray Mercedes-Benz G550 driving on rocky terrain.

A Mercedes-Benz G550.

Mercedes-Benz


  • Average new price: $182,631
  • Average used price: $190,078
  • Difference: $7,447, 4.1%

5.Toyota RAV4 Hybrid

A teal Toyota RAV4 Hybrid on a road.

A Toyota RAV4 hybrid.


Toyota



  • Average new price: $34,995
  • Average price used: $36,352
  • Difference: $1,357, 3.9%

6. Toyota Tundra

A white 2020 Toyota Tundra truck in a dark green forest.

A 2020 Toyota Tundra.

Toyota


  • Average new price: $49,643
  • Average price used: $51,474
  • Difference: $1,831, 3.7%

7.Dodge Challenger

A red 2020 Dodge Challenger sports car.

A 2020 Dodge Challenger R/T Scat Bundle.

Dodge


  • Average new price: $39,375
  • Average price used: $40,764
  • Difference: $1,388, 3.5%

8.Toyota 4Runner

A dark gray 2019 Toyota 4Runner on a tree-lined road.

A Toyota 4Runner.

Toyota


  • Average new price: $45,382
  • Average used price: $46,867
  • Difference: $1,485, 3.3%

9. Hyundai Palisade

A blue 2020 Hyundai Palisade on a road.

A 2020 Hyundai Palisade.

hyundai


  • Average new price: $44,063
  • Average price used: $45,356
  • Difference: $1,293, 2.9%

10. Tesla Model 3

A red Tesla Model 3 on the floor of a showroom.

A Tesla Model 3.

David Zalubowski/AP Photo


  • Average new price: $44,409
  • Average used price: $45,677
  • Difference: $1,268, 2.9%

11.Honda Civic

A red 2019 Honda Civic Sedan Touring.

A 2019 Honda Civic Sedan Touring.


Honda



  • Average new price: $26,331
  • Average price used: $27,058
  • Difference: $727, 2.8%

12.Dodge Charger

A gray Dodge Charger on a snowy road.

A Dodge Charger.

FCA North America


  • Average new price: $38,977
  • Average used price: $39,874
  • Difference: $897, 2.3%

13. Honda Odyssey

A red 2019 Honda Odyssey on a road.

A Honda Odyssey.

Honda


  • Average new price: $37,612
  • Average price used: $38,048
  • Difference: $435, 1.2%

14. Kia Rio

A blue 2020 Kia Rio subcompact sedan on a road.

A 2020 Kia Rio.

KIA


  • Average new price: $17,346
  • Average price used: $17,472
  • Difference: $127, 0.7%

15. Subaru Crosstrek

An orange 2020 Subaru Crosstrek Premium beside gray hills.

A 2020 Subaru Crosstrek Premium.

Subaru


  • Average new price: $29,474
  • Average used price: $29,642
  • Difference: $168, 0.6%

16. Subaru WRX

A blue Subaru WRX parked outside a building.

A Subaru WRX.

Subaru


  • Average new price: $34,487
  • Average price used: $34,568
  • Difference: $81, 0.2%

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