Five Cars That Cost More Used Than New in Minnesota
Used car prices are skyrocketing in Minnesota right now, and these five cars actually cost more used than they did when they were new.
If you're like me, you're no doubt tired of hearing the phrase 'supply chain issues,' right? But the disruption from the pandemic has really thrown a wrench into some aspects of our lives and has caused some weird things to happen.
Like with the price of used vehicles. Right now, they're skyrocketing both here in Minnesota and across the country. In fact, industry site iSeeCars.com noted that, thanks to the ongoing microchip shortage, most USED cars are actually selling for more than their NEW versions-- something that usually NEVER happens.
The old adage used to be that if you bought a new vehicle, it would LOSE value the moment you drove it off the lot. Bankrate.com said a new car will typically lose between 15% and 20% of its value each year. But not THIS year!
This is MN's Best-Selling Vehicle
iSeeCars.com says that right now, the average used car not only didn't depreciate, it actually gained value-- and is now worth more than it was when it was new. According to their survey, the average one-year-old lightly-used car now costs 1.3 percent more than its new version.
There are some models, though, that are now worth much more used than they were new. iSeeCars.com says that the following models here in Minnesota are all worth at least 15% more USED than they were new.
1) Mercedes-Benz G-Class
2) Chevrolet Corvette
3) Tesla Model 3
4) Ford Bronco Sport
5) Chevrolet Trailblazer