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Published: Jun 10, 2022 4 min read
Photo Illustration of a car with a big dollar sign in-front
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.”