TGR Staff - 04/07/2022
The used car market has long been a fantastic go-to resource for drivers looking to enjoy the best without having to take out a second mortgage. But, something strange is going on in the neighborhood, meaning that many used vehicles are now outstripping the prices of even new models. In fact, with the used car market remaining at a record high after increased demand in light of pandemic-fuelled parts shortages, prices here can be upwards of 34% more than new vehicles in certain instances.
Of course, none of this is to say that buying a used car can’t still result in some fantastic bargains when you do your research beforehand. In fact, experts currently predict a used car price drop as steep as 20-30% as new stock stabilizes. Right now, however, anyone considering a used purchase should protect their funds by avoiding these three vehicles that are well outstripping new prices on the used circuit as it stands.
# 1 - Mercedes Benz G-Class
With a factory-fresh Mercedes Benz G-Class costing as much as $182,631, this is a vehicle that’s long been famed for landing at the steep end of the new car market. However, delays as long as 15 months for new models in light of ongoing Mercedes parts shortages (which have even led to the discontinuation of models including the G550) mean that this already high-end option is now pulling the steepest prices currently seen on the used market. In fact, a lightly-used G-Class is now earning as much as 34% more than new at $190,078 which doesn’t look set to drop anytime soon.
# 2 - Chevrolet Corvette
Widely known as America’s Sports Car, the Chevrolet Corvette is no stranger to high demand, while a reasonable price tag of around $68,000 makes it clear to see at a glance why we love these cars so much. It’s also pretty obvious why, in light of enforced assembly closures that lasted as long as two weeks due to parts shortages last year, used Corvette prices are also giving new models a run for their money. Now, those in the market for a used Corvette can expect to pay 20.2% more than they would new, adding up to as much as an extra $16,645 in total.
# 3 - Tesla Model 3
Tesla cars that rely on smoothly functioning tech integrations have been hit especially hard by chip shortages in recent years, even leading to the omission of arguably crucial steering systems in the Model 3. Even though Tesla has largely managed to keep production moving, this has led more people than ever to seek used Tesla Model 3s that don’t miss out on this crucial element. In light of this, buyers can expect to pay around 17.8% more for a used Model 3 right now, bringing overall average costs here up to a painful $45,677.
Used cars can still be the best way to bag a bargain, but buyers could benefit from avoiding these higher-end used vehicles until stocks stabilize at last.
_websize.jpg)
