Insanely high car prices
—it’s something that we’ve all gotten used to over the past year, with no end in sight. With supply chain shortages and gas prices gouging consumers nationwide, the last thing you’d expect from carmakers is for them to capitalize on the current high vehicle demand by raising prices. But three car brands
, in particular, have decided that there’s nothing stopping them from taking advantage of the current market by increasing markups. These 3 brands are guilty of gouging customers with markups
According to MotorTrend
, Cadillac, Kia, and Land Rover are guilty of raising the cost of their vehicles. To clarify, the companies themselves are not actually the ones raising prices—their dealerships are. While you may have another reason to dread visiting a car dealership, companies have to watch their margins, but for consumers, we’re left scratching our heads at the whole situation, wondering if things will ever return to a state of “normalcy”.
Why are Cadillac, Kia, and Land Rover so keen on markups?
Besides markups, these three brands are also utilizing their manufacturing resources in different ways, aiming to create more upscale, higher-trim models that will make up for their lost vehicle sales from 2021. For Cadillac and Land Rover, it’s not hard to understand why they might decide to dip their toes farther into the luxury market as luxury brands themselves, forsaking entry model vehicle production.
Their rationale? Customers who want and can afford a Cadillac or Land Rover aren’t as likely to scoff at a higher price tag. They may also be more open to those extra trim levels and luxury options that serve to raise the vehicle’s curb price.
MORE: Do Kias Last a Long Time?
More affordable alternatives to Cadillac, Kia, or Land Rover
This year, Cadillac buyers spent an average of $4,000 over their Caddies’ MSRP, with Land Rover purchasers shelling out $2,500 over their SUVs’ MSRP. Kia was close behind, with dealerships scaling up costs to $2,289 over each Kia’s MSRP.
If you’re looking to shop around for a used or new vehicle, we recommend avoiding these three brands (and their markups) for now. Instead, some of the better options include Ram
, Lincoln, Volvo, and Alfa Romeo. These vehicles sold for hundreds of dollars under their suggested retail price, which might seem surprising, considering the current economy. But as a thrift-conscious shopper, it might be better not to ask questions. A deal is certainly a deal, especially right now.
Use Jerry and shop for the perfect coverage options
Researching the best deals on new and used cars will save you some cash, but the next step is to make sure that you’re saving as much as possible on insuring whatever you buy. You can rely on Jerry
for help. Once you download Jerry, just answer a handful of questions that will take you roughly 45 seconds to complete, and you’ll immediately get car insurance quotes for coverage similar to your current plan. 
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