Automobile

Used Car Prices Jump, Trucks And Sports Cars See Biggest Increase

Used car prices have been flipped on their head over the last year. The coronavirus pandemic and ongoing semi induction shortage have strained the supply of new cars, forcing many to look to the used market. However, that increased demand means there’s an increase in prices, too.

A new iSeeCars study looked at how used car prices have changed from 2020 to 2021 and found that prices have dramatically increased. On average, used car prices are up 16.8 percent, $3,926, to $27,297. However, not all makes and models are equal on the used market. Below are the ten best used cars to sell right now if you’re looking to make some cash – or the worst to buy.

10. Land Rover Range Rover Sport

25.1 percent increase

The Land Rover Range Rover Sport is one of two SUVs to make this list, which saw its price jump 16.9 percent from 2020 to 2021. The average price for the luxury off-roaster sits at $59,579.

9. Mitsubishi Mirage

25.9 percent increase

Used Car Prices List

The Mirage is by no means an expensive car, but not even it is immune to price fluctuations. A small increase can turn into a large percentage, which is what appears to have happened here. The Mirage saw its price increase from $2,313 to $11,242 on average.

8. Toyota Tundra

26 percent increase

Used Car Prices List

The Toyota Tundra is one of four pickups to make the list, with its price jumping 26 percent in the last year. Used Tundras are now going for $40,470 on average, a 26 percent increase.

7. Chevrolet Camaro

26.7 percent increase

Used Car Prices List

Last year saw Chevy Camaro sales fall to fewer than 30,000, though that doesn’t seem to be affecting the car on the used market. The American sports car saw its price tick upward by 26.7 percent, commanding $31,220 more than it did in 2020, a $6,582 increase.

6. Chevrolet Silverado 1500

27.1 percent increase

Used Car Prices List

The venerable Silverado is a sales king when it’s new, and it’s still commanding a hefty price on the used market. The truck saw its price increase by $7,960, taking the used price to $37,324 on average.

5. Mercedes-Benz S-Class

27.9 percent increase

Used Car Prices List

Luxury vehicles make up a fraction of this list, and the S-Class is the only high-end sedan, though it, too, saw its used price increase. The Mercedes is now $16,198 more expensive than it was in 2020, with the average used price sitting at $74,326, though it didn’t see the biggest increase.

4. GMC Sierra 1500

28.6 percent increase

Used Car Prices List

The Silverado’s upscale sibling also saw its price increase for 2021, with the GMC Sierra 1500 now average $42,347 on the used market. That’s $8,002 more expensive than it was before.

3. Ram 1500 $35,798

28.8 percent increase

Used Car Prices List

The truck that saw the biggest percentage increase in price was the Ram 1500. Its price jumped 28.8 percent, or $8,002, to $35,798, which is cheaper than the other three pickups that are on this list.

2 Mercedes-Benz G-Class

33.2 percent

Used Car Prices List

The iconic G-Class saw the biggest price jump from 2020 to 2021 while being the most expensive vehicle on average in the study. The high-end Mercedes SUV now averages $148,937 on the used market, which is $37,161 more than before.

1. Chevrolet Corvette

33.9 percent increase

Used Car Prices List

Topping the list is an unexpected model – the Chevrolet Corvette. It saw its price increase by nearly 34 percent, or $17,423, in 2021. It now averages $68,804 on the used market, which is more than an entry-level C8 Corvette Stingray.

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