Since its debut in the spring of 2019, the Kia Telluride has wowed critics and consumers alike, winning the 2020 World Car of the Year award and many other accolades.
Its popularity is well founded, with a fully loaded 2021 Kia Telluride being favorably compared to some luxury SUVs. Unfortunately, if you are planning on buying a car soon you may have to look elsewhere.
High demand, coupled with the global semiconductor chip shortage, means it is almost impossible to find a new Kia Telluride. And if you can track one down, you’ll have to
pay well over the list priceto get it.
The lack of new vehicles has seen would-be Telluride owners turn to the used car market in the hope of finding one there. But according to one recent study, this is a terrible idea, as used Kia Tellurides are selling for even more than new ones!
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Why does a used Kia Telluride cost so much?
Used car dealerships have pounced on the shortage of new cars, increasing their prices under the correct assumption that many drivers would rather receive a lightly-used vehicle now, than wait months for a new one.
iSeeCars, in June 2021, the average lightly used car cost just 3.1% less than its new equivalent.
If that’s not bad enough, some used models, including the
KiaTelluride, are selling for more than brand new ones!
iSeeCars identified 16 such models. Here are the top five cars with an average used price higher than the MSRP (manufacturer's suggested retail price):
- Kia Telluride used price is $47,730 — 8.1% higher than the MSRP.
- GMC Sierra 1500 used price is $57,671 — 6.4% higher than the MSRP.
- Toyota Tacoma used price is $39,857 — 5.2% higher than the MSRP.
- Mercedes-Benz G-Class used price is $190,078 — 4.1% higher than the MSRP.
- Toyota RAV4 Hybrid used price is $36,352 — 3.9% higher than the MSRP.
As explained by iSeeCars analyst Karl Brauer, "price hikes have trickled down to the used car market, where used Tellurides aren’t yet abundant and buyers may be willing to overpay for a used version that is likely the only one available."
What to do if you really, really want a Kia Telluride
The best advice, although you won’t want to hear it, is just wait it out!
There are signs that
used car prices may have already peaked, meaning you should be able to score a used Telluride for a more reasonable amount in a few months time.
If you absolutely cannot wait, wade through online resources to find a
private sellerinstead of going to a used car dealership, where prices tend to be higher.
Once you find one, you might be tempted to throw cash at the seller, but don’t forget to do your due diligence.
Buying a used carmeans inspecting under the hood and around the body for any repair jobs. You should take the car for a test drive to a local mechanic to undergo a diagnostics test.
While a used Kia Telluride is still going to be less than two years old, there was a small recall due to issues with airbag deployment, so get a Carfax report to check the vehicle’s accident and recall history.