The Unbelievable Reason You May Pay More for a Used Car Than a New One Right Now
By:
Adam Hardy
Adam Hardy
Lead data journalist | Joined May 2024
Has also written:
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Money; Shutterstock
Trying to pinch pennies by buying a used car rather than a new one? You might want to think again. That conventional wisdom could cost you.
Right now, the auto market is so out of whack that many used car models are selling above the manufacturer's suggested retail price (MSRP), aka sticker price, for the brand-new version. In fact, according to a new industry analysis from car insurance agency Jerry, that’s the case for almost all of the most popular 2021 models on the used car market.
“The value of a new car previously fell by thousands of dollars as soon as you drove it off the dealer’s lot,” wrote Ben Guess, the author of the report. “The pandemic has changed that for many models.”
