MoneyDon't Waste Your Money


DWYM: Why some used cars now cost more than new ones

DWYM: Why some used cars cost more than new ones
Posted at 2:26 PM, Jul 20, 2021
and last updated 2021-07-20 15:26:14-04

The crazy car market is getting crazier again.

Some new SUV’s and pickup trucks are getting so hard to find that used models now cost more than new ones.

Many have always purchased used cars and trucks instead of new ones to save thousands of dollars.

But in this crazy year, some used cars now cost more than a new version.

The price of used cars has gone up and up this year. But because of soaring demand, and the computer chip shortage it's keeping many new vehicles parked.

The result: some one-year-old used vehicles can now cost you more than the sticker price on that vehicle brand new, according to

Among them:

  • The Kia Telluride SUV: $3,000 more for a used one.
  • GMC Sierra pickup: $3,000 more used.
  • Toyota Tacoma pickup: $3,000 more used.

Many others, including 4-Runners, the Hyundai Palisade and more are selling for a $1,000 premium used.

If you can find a new one, that's the better idea, but you’ve got to find one first.

And from the doesn't that stink file:

Among the vehicles on the holy grail of cars you can't find:

The new full-size Ford Bronco.

Used ones really don't exist used. And one New York dealer is charging $30,000 more than sticker for a new Bronco, according to Motor Trend.

Doesn’t that stink?

It’s crazy, but the good news is that like with all bubbles, it won't last forever.

Dealers are hoping that used car prices start coming back down to earth in September, when sales typically slow down.

Until then, be careful and don’t waste your money.