10 cars cost more to buy used than new

by Aug 4, 2021Car buying0 comments

It may become a surprise to everyone when going car shopping, and finding out some cars cost more to buy used than new lately.

The average price of used cars is also gone up in 2021. Some cars now cost more to buy used than new cars.

The average price of a new car, which is $41,263 in 2021, is higher today than ever before. The average low-mileage used vehicle costs just slightly less than its brand-new counterpart. It’s 3.1 percent this year compared to 10.8 percent less back in November 2020. That’s according to an analysis of over 470,000 new and late-model used cars from the 2019 and 2020 model years listed for sale in June 2021.

cars cost more to buy used than new

Here’s the list of the 10 cars that cost more to buy used than new:

Name – Price: New VS Used – % and dollar amount on used cost more than new

  1. Kia Telluride $44,166 new; $47,730 used; 8.1% or $3564
  2. GMC Sierra 1500 $54,205 new; $57,671 used; 6.4% or $3466
  3. Toyota Tacoma $37,902 new; $39,857 used; 5.2% or $1955
  4. Mercedes-Benz G-Class $182,631 new; $190,078 used; 4.1%  or $7477
  5. Toyota RAV4 Hybrid $34,995 new; $36,352 used; 3.9% or $1357
  6. Toyota Tundra $49,643 new; $51,474 used; 3.7% or $1831
  7. Dodge Challenger  $39,375 new; $40,764 used; 3.5% or $1388
  8. Toyota 4Runner $45,382 new; $46,867 used; 3.3% or $1485
  9. Hyundai Palisade $44,063 new; $45,356 used; 2.9% or $1293
  10. Tesla Model $44,409 new; $45,677 used; 2.9% or $1268

That could be bad news for those looking to save money by buying a used car. Why do these cars cost more to buy used than new ones in 2021?

In fact, more buyers are turning into the used-car market. Since the new vehicle productions stumble due to various reasons like microchip shortage in 2021. This increasing demand is also combined with a short supply of used vehicles. On the other hand, due to decreasing sales of new models, fewer trade-ins for used cars on the other hand has caused used car prices to skyrocket.

The average used car is now nearly 30 percent more expensive than it was last year right before the lockdowns. If you have an extra car you don’t need, it may be the right time to sell your extra car.

10 cars cost more to buy used than new

Learn more about the benefits of buying from Carnex. We believe that all clients deserve to know the good and bad of what they’re buying. Because we wanted to know these when we bought cars. That’s why at Carnex.ca, we will proudly display every detail every step of the way. Browse all the best cars, automobile buying tips, auto insurance, young drivers, driving techniques, auto industry trends from Carnex Blog.

How Much Does an Electric Vehicle Cost in Canada?

How much does an electric vehicle cost in Canada in 2021? Nowadays, more and more consumers in Canada starting to think about switching to an EV as...

8 Best Commuter EVs in Canada for 2023

8 Best Commuter EVs in Canada for 2023   Are you looking for an eco-friendly and efficient mode of transportation for your daily commute in...

Electric Vehicle Depreciation: Do EVs Depreciate Faster?

Electric Vehicle Depreciation: Do EVs Depreciate Faster?   When considering the purchase of an electric vehicle, it is crucial to carefully...

Will Buying an Electric Vehicle Save You Money?

Will Buying an Electric Vehicle Save You Money?   With gas costs rising by the day, many people are considering buying an electric vehicle....

Electric Vehicles In Winter: How Do EVs Perform In Cold Weather

Electric Vehicles In Winter: How Do EVs Perform In Cold Weather As frigid weather sweeps over the country and snow and ice become problems, EV...

The Top 7 Reasons to Buy a Used Electric Vehicles in 2022

By entering 2022, electric vehicles are becoming super popular in Canada as people become more mindful of climate change. Driving an electric...

Top 9 Electric Cars With High Resale Values

As we all know, an automobile loses value as soon as it is driven away, and it continues to lose value as it is driven. Whether it's an electric or...

The Best Place To Shop Online For Used Electric Vehicle in Ontario

Used electric vehicles are a fascinating and affordable option for anyone who has ever looked at a shiny new electric vehicle but despaired with...

Electric Car Depreciation: How well used EVs hold their resale value?

With various countries all over the world calling for a ban on diesel and petroleum vehicles by 2035, electric cars are getting popular. While EVs...

Who is Carnex?

Carnex is an online EV dealer built for Canadians to buy and sell electric vehicles. Our mission is to provide Canadians with an alternative and transparent way to buy and sell used electric vehicles and to accelerate the transition to a sustainable green future.

Carnex.ca is Canada’s first e-commerce platform for used Electric Vehicles. Carnex is the leading Online Car Dealership in Ontario, with the company’s headquarters located in Toronto, Ontario.
Carnex is the fastest and cheapest way to buy a car online. We deliver to your door and collect your old car without extra charges. Buy Now-Pay Later Financing is available.

Why buy from Carnex?

Carnex is trusted by over 18 million buyers to find amazing discounts on used EVs and new EVs in their neighbourhood. Carnex specializes in electric vehicles, and we make the effort to make sure your EV purchase from us will be worry-free. Our skilled EV technicians perform a comprehensive diagnostic on all of our electric vehicles at Carnex because your satisfaction is very important to us. Carnex.ca will help you find the best EV bargains among the listings across Canada, and we’ll provide you with the vehicle history and comprehensive reviews for each EV.

Why Choose Us

We choose to only sale quality and zero-accident used vehicles. We are so confident in our cars that we will shamelessly show you all the perfections and imperfections of the vehicle – from the Chasis pictures to chipped paint spots.

We also offer a 9-day no question asked return policy and an 100-day in house mechanical warranty to make your purchase risk-free.

Get In Touch

1 + 15 =