A new study published by iSeeCars shows that fully half of the top ten models on sale today that cost more used than new are Toyotas. Among the models that made the list are the Toyota RAV4 Prime, RAV4 Hybrid, Corolla Hybrid, Sienna (Hybrid) and the Corolla Cross. Do you see a trend here? Clearly, Toyota hybrids are among the most popular vehicles on sale today.
The new study found that ten models stand out in today’s market by costing more lightly used than they do new. The Corolla Hybrid was second overall. It has a used price that is about $2,000 higher than the new price of the vehicle.
The main reason that some vehicles cost more used than do new was explained to us by a salesperson at Liberty Mazda near Boston. He explained that there are customers who walk in the door needing to drive home in a vehicle that day. The reasons generally include their prior vehicle being no longer available due to a crash or it dying. These customers are happy to pay a bit more for a lightly used, still under warranty, car than a new one if it is on the lot ready to drive home in.
Vehicle shortages have changed the buying landscape in America. No longer are dealerships stocking rows and rows of popular models. Although the shortages were originally caused by the pandemic and factory closures, we are not sure that is still true today. Manufacturer representatives we speak with are in unanimous agreement that the days of full lots of unsold cars are long gone. With dealers making record profits with the new system, and manufacturers no longer having to subsidize overstocked inventory with “cash on the dash” incentives, nobody in the auto industry want to return to the days of in-stock inventory.
The Ford Maverick is at the top of the list by a wide margin. However, Toyota is the brand with the most hard-to-find popular models. Honda is number two, followed by Ford in terms of the number of vehicles worth more used than new.
You can view the full iSeeCars survey summary page here. If you have shopped for a new vehicle lately, tell us your experience. Would you have paid more for a lightly used car than that same model new if you had a choice?
Image of Toyota Corolla Cross courtesy of Toyota. Chart courtesy of iSeeCars.
John Goreham is an experienced New England Motor Press Association member and expert vehicle tester. John completed an engineering program with a focus on electric vehicles, followed by two decades of work in high-tech, biopharma, and the automotive supply chain before becoming a news contributor. In addition to his ten years of work at Torque News, John has published thousands of articles and reviews at American news outlets. He is known for offering unfiltered opinions on vehicle topics. You can follow John on Twitter, and TikTok @ToknCars, and view his credentials at Linkedin