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Used cars are far from bargain in Salt Lake City

Used Vehicles-Affordability
Posted at 1:33 PM, May 19, 2022
and last updated 2022-05-19 16:39:50-04

SALT LAKE CITY — It's no secret that car prices have skyrocketed, largely because of supply chain disruptions causing limited supply and high demand, but one study shows that some cars actually cost more used than new.

According to iSeeCars, Salt Lake City auto buyers were in for some sticker shock on several popular used cars that cost as much as $12,000 more than their new counterparts.

Chevy Suburbans sold for an average of $12,458 more than the new models, with Chevy Tahoes and GMC Yukons going for over $8,000 more than the latest versions.

Rounding out the list of the top five cars that sold for more used than their new are the Ford Bronco Sport and Toyota RAV4, both of which sold for over an average of $3,000 more.

There is some good news; although used car prices increased by 16.5% or $4,562 in April compared to last year, they have been slowly declining in price.

iSeeCar's study also identified the top 15 lightly-used cars that have the greatest price difference compared to their new versions, as well as the new cars that are more expensive than their used versions.

Go here to see the full study.