By Tim Levin, Mon, September 12, 2022 at 10:04 AM·2 min read
- Used car prices are still abnormally high as inflation impacts nearly every realm of American life.
- Some of the most popular vehicles in the US cost more to buy lightly used than their brand-new prices.
- A lightly used Toyota RAV4, Honda CR-V, or Nissan Rogue costs thousands more than those models’ 2022 retail price, according to a new study.
Between astronomical prices and few vehicles to choose from on dealer lots, the last year or so has been perhaps the worst time to buy a car in history.
And don’t think settling for a secondhand vehicle will insulate you from the challenging landscape and eye-watering costs. In “normal times,” buying used was the thrifty option; now some used models are selling for thousands above the suggested retail price for their brand-new counterparts, according to an August study from the car insurance savings app Jerry.