Are You Sitting on a Goldmine? 4 Used Cars Are Reselling Above Sticker Price
The average used car is selling for an incredible $8,000 more than it was pre-pandemic. Why the car buying anomaly? Because a limited supply of new vehicles has sent many drivers to used car lots and inflated prices. As a result, certain three-year-old vehicles may be currently worth more used than their MSRP was when they were new. If you invested in one of these, now might be an excellent time to sell, especially because used car costs are finally coming back down.
- Toyota RAV4 Hybrid
- Jeep Wrangler
- Porsche (both 911 and 718 Cayman)
- Mercedes-Benz G Wagon
2019 Toyota RAV4 Hybrid
While the average 2019 vehicle has depreciated 23.8% in the past three years, the Toyota RAV4 Hybrid has actually appreciated 2.5%–according to Forbes. That means the average RAV4 Hybrid is currently trading hands for $883 more than it was worth when brand new.
Forbes quoted executive analyst Karl Brauer calling this increase “unprecedented.” But the RAV4 is a popular SUV known for its reliability and on to its fifth generation. Toyota redesigned the RAV4 completely for the 2019 model year. Therefore, a three-year-old RAV4 looks at home on today’s roads. A 2019 even comes loaded with Apple CarPlay/Android Auto.
See the extensive hybrid Toyota SUV lineup explained.
2019 Jeep Wrangler (regular and Unlimted)
Even in years with more normal resale totals, vehicles that change little from generation to generation hold their value the best. The Jeep Wrangler is a perennial favorite for the highest resale because most any round-headlight model (1996-Present) looks a lot like the brand-new Jeep. They are also known for durability and people often pay more for heavily modified Wranglers. And similar to the RAV4, Jeep redesigned the Wrangler for the 2018 model year and hasn’t changed it again since.
All considered, it’s not a huge surprise that the average three-year-old Jeep Wrangler with two doors is worth 0.3% more than it was new. The four-door Jeep Wrangler Unlimited has actually climbed 2.0% in value. That translates to the average Unlimted resale being $880 above MSRP.
Check out the cheapest and most expensive model years for used Jeep Wranglers.
2019 Porsche 911 (and Porsche 718 Cayman)
Just like the Wrangler, many Porsches feature an iconic design that has changed relatively little over the years. So just like the Wrangler, used Porsche 911s and 718s are perennial favorites for least depreciation. But because of Porsche’s higher MSRP, this can translate to a valuable investment.
The average three-year-old Porsche 718 Cayman has appreciated 1.8%. This translates to a value $1,342 more than MSRP. The average Porsche 911 has appreciated 5.7% in the past three years. This translates to a value which is a whopping $11,373 above sticker!
2019-Present Mercedes-Benz G Wagon
The Mercedes-Benz G-Class SUV was in the right place at the right time. Mercedes finally redesigned its G Wagon–for the first time ever–in 2019. The result kept the iconic boxy shape of the original but had a wider cockpit, better infotainment, and lighter steering (thanks to an independent front suspension upgrade). The result became an overnight sensation, with long waitlists at every Mercedes-Benz dealership. Some dealerships even charged twice MSRP. Then cryptocurrencies boomed, and (according to the New York Post) these overvalued second-generation G Wagons became a badge of excess wealth among newly minted millionaires.
What happened next? Well, cryptocurrencies crashed, and so did G Wagon values. Resale values plummeted $80,000 in one year, said one dealership owner. What’s the result? The second-generation G Wagon was so overvalued, to begin with, that they are currently selling for just 0.6% below MSRP ($980).
Will celebrity G Wagon owners drive values back up? Read about the changing value of used Mercedes G Class SUVs or learn more about the future of all used car prices in the video below:
But not everyone is looking to simply offload their current car. Most drivers are also seeking to get into a new ride, despite the inflated values. If you’re buying as well as selling, you can watch Consumer Reports 2023 car hunting tips in this final video:
