Use car prices have been reaching new heights, and some models are selling for over 35% more than their new counterparts.
Mark Reuss, president of General Motors, drives the 2020 Chevrolet Corvette Stingray, in Tustin, California, July 18, 2019.
The 35.6% premium was by far the largest, but not the only big one. Chevrolet Corvettes commanded an extra $16,645, or 20.2% above their factory MSRPs.The Tesla Model 3 was next on the list at $8,300/17.8%, followed by the Ford Bronco Sport and Chevrolet Trailblazer subcompact SUVs. Low new car inventories caused by the semiconductor shortage has been the driving force in rising used car prices for the past year. The Mercedes-Benz website even has a pop-up warning shoppers of low supplies and feature availability.There are some deals at the other end of the market, however. New Ford Mustangs remain more valuable than used ones, with an average premium of $9,519/19.
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