Denver (KDVR) – A supply chain crisis coupled with a worldwide microchip shortage has left those working in the used car market in a bit of a desperate state when compared to years passed, and consumers here in the metro are feeling the situation’s fallout in their pocketbooks.

According to the latest study by car search engine iSeeCars.com, the average one-year-old lightly-used car costs 1.3 percent more than its new version. However, some lightly-used vehicles have price increases far greater than this average.

The average one-year-old lightly-used car costs 1.3% more than its newer version. However, some lightly-used vehicles have price increases far greater than this average.

iSeeCars.com analyzed prices of over 1.5 million new and used cars sold in January 2022 to identify the lightly-used cars that have the highest price increases compared to their new versions.

Here are the used cars that cost the most over their new version in each state:

Top Used Cars That Cost More Than New By State – iSeeCars
StateVehicle% Used Price More than New$ Used Price More than New
AlabamaToyota Tacoma15.0%$5,701
AlaskaSubaru Crosstrek28.3%$8,261
ArizonaChevrolet TrailBlazer18.8%$5,004
ArkansasToyota Tacoma16.3%$6,122
CaliforniaMercedes-Benz G-Class50.4%$87,614
ColoradoToyota 4Runner11.1%$5,180
ConnecticutToyota Tacoma16.1%$6,200
DelawareToyota RAV46.7%$2,127
FloridaChevrolet Corvette24.0%$19,494
GeorgiaKia Seltos19.1%$5,112
HawaiiDodge Charger28.8%$11,283
IdahoGMC Yukon11.9%$8,748
IllinoisToyota Sienna17.4%$7,952
IndianaFord Bronco Sport18.5%$6,160
IowaGMC Yukon11.9%$8,748
KansasDodge Charger20.5%$8,098
KentuckyDodge Charger24.1%$9,379
LouisianaGMC Yukon17.0%$11,736
MaineSubaru Forester13.2%$4,120
MarylandDodge Charger17.7%$6,750
MassachusettsToyota Tacoma14.6%$5,413
MichiganKia Telluride19.8%$8,922
MinnesotaToyota 4Runner14.4%$6,747
MississippiToyota Tacoma18.7%$6,706
MissouriDodge Charger18.0%$6,929
MontanaFord Bronco Sport20.5%$7,070
NebraskaToyota Tacoma11.9%$4,488
NevadaKia Soul18.2%$3,858
New HampshireSubaru Crosstrek13.8%$3,984
New JerseyToyota RAV4 Hybrid22.2%$7,780
New MexicoKia Sportage22.5%$6,534
New YorkFord Bronco Sport19.7%$6,631
North CarolinaToyota RAV4 Hybrid18.0%$6,570
North DakotaChevrolet Tahoe14.3%$9,798
OhioDodge Charger18.9%$7,753
OklahomaToyota Tacoma18.8%$7,102
OregonToyota RAV4 Hybrid22.3%$7,840
PennsylvaniaDodge Charger22.5%$8,658
Rhode IslandToyota Corolla9.7%$2,233
South CarolinaGMC Yukon16.7%$12,442
South DakotaSubaru Outback6.34%$2,261
TennesseeKia Telluride14.7%$6,594
TexasToyota RAV4 Hybrid19.4%$6,833
UtahToyota RAV412.5%$4,171
VermontToyota Tacoma9.2%$3,447
VirginiaFord Bronco Sport14.1%$4,863
WashingtonToyota RAV4 Hybrid20.2%$7,060
West VirginiaChevrolet TrailBlazer21.4%$6,080
WisconsinChevrolet TrailBlazer14.9%$3,974
WyomingJeep Grand Cherokee12.2%$5,826
  • The vehicle Coloradans are most likely to overpay for is the Toyato 4Runner, which on average will cost the Colorado consumer an average of 11.1% more than the average new vehicle costs in the state, which comes out to $5,180.
  • The Toyota Tacoma pickup is the used car that is the most expensive compared to its new version in the most states with 8.
  • The used vehicle that costs the most compared to its new version is the Mercedes-Benz G-Class in California with a 50.4 percent price increase.
  • SUVs are the most represented vehicle type accounting for 31 of 50 vehicles.

What Does This Mean for Consumers?

When deciding between a new and a lightly-used version of the same vehicle, there are important things to consider. While buying a lightly-used car typically provides upfront cost savings compared to buying a new one, this is no longer the norm in today’s market. Shoppers looking for lightly-used cars should always compare the prices to new cars, and buyers who are unable to find the new car they are looking for should avoid models with the highest price increases if they decide to go used instead.

Methodology

iSeeCars.com analyzed over 1.5 million cars sold between January 1, 2022 and January 31, 2022.  New cars included in the analysis were from model years 2021 and 2022, while lightly-used cars were defined as used vehicles from model years 2020 and 2021. Low-volume models were excluded from the analysis, as were cars with outlier mileages and models discontinued as of the 2021 model year. The average asking prices of the lightly-used cars were compared to those of new cars from the same model. The difference in price for each car was expressed as a percentage of the new average prices and ranked by this difference.

About iSeeCars.com

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $325 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.

This article, The Most Overpriced Used Car in Each State, originally appeared on iSeeCars.com.