Some new cars have been selling for less than used versions of the same models. Microchip shortages have caused some car lots across America to become deserted as demand overwhelms dealers. While some models are still in good supply, most dealerships are only operating with half of their usual stock.
According to Autoweek, used car prices have increased by 32.7%, an average of $7,583 more per sale. EV sales are enjoying a massive boost, as shown by the Nissan Leaf’s recent success. What are some other models with the biggest price hikes?
Used car prices have been on the rise due to supply shortages.
The G-Wagen was originally a military vehicle that has since had extensive adjustments to make it legal for U.S. roads. It was already pricey thanks to these modifications, but shortages have driven the average used car price up to $158,835. That’s an increase of 46.3% from last year, but you can get a brand-new one for $131,750.
All Mercedes-Benz G-Wagens come with standard all-wheel drive, and the most powerful trims are capable of 577 horsepower and 627 lb-ft of torque. Every model offers an interior with genuine wood trim and shiny, brushed metals. The vehicle is also highly customizable: drivers can choose between 54 types of upholstery and 26 coats of exterior paint.
A sunny disposition. The 2021 Lincoln Black Label #Navigator, shown here with the Special Edition Package. (📸: Huseyin Erturk)
The average used Lincoln Navigator costs around $65,236. That’s a hefty annual increase of 42.4%, but it’s still cheaper than a new Navigator. The Lincoln Navigator is considered one of the best luxury SUVs on the market, boasting 450 horsepower and seating for seven.
Heating and ventilation for the front seats come standard. You can get massaging seats, a sunroof, and an impressive 20-speaker stereo system on the fully-loaded Navigators. Each Navigator comes with the same intuitive SYNC 3 interface present on popular Ford vehicles.
However, one of the Navigator’s biggest complaints is that it doesn’t have the smoothest ride. The longer wheelbase of the Lincoln Navigator L helps alleviate this problem while providing more passenger legroom at the same time. The cargo space was expanded from 103 cubic feet to a little over 120 cubic feet.
Unfortunately, it has also seen the same price increase as its smaller sibling. You can expect to pay at least $66,508 for a used model, $20,392 more than you would have in 2020.
The A5 sedan seems like a bargain in comparison, priced at $44,376 used. However, that’s still an increase of 41.8% compared to last year. A brand new A5 coupe starts at $44,500.
The Audi A5 is a good sedan, with sporty handling and an impressive selection of powerful engines. It also comes with standard all-wheel drive, a surprisingly serene ride, and above-average fuel economy on the base engine.
GMC Sierra 1500
The typical high demand for trucks has led to increased price tags across the segment. A used GMC Sierra 1500 costs 41.3% more than it did in 2020, or around $47,791. Alternatively, you can purchase a new base model for $30,100.
However, a used model might give you access to more trailering features at a slightly cheaper price. This includes an integrated trailer brake controller, hitch view, trailer tire pressure monitor, and more. You might even be able to find an affordable used Sierra 1500 with a diesel engine that’s capable of towing 9,300 pounds.
Although car insurance prices are also on the rise, it’s still possible to find affordable coverage in 2021. Sign up with Jerry today to compare competitive rates on even the most expensive models.