Looking for a new car? These models could give you a heart attack
In this “ugly” market, as finance expert Clark Howard calls it, finding an inexpensive car could be challenging. After I list the high-priced cars, I’ll share one of Clark’s favorite tips for saving money on a car. “Many car buyers are in for a surprise today (if they can find the model they are looking for at a dealership), you may have to pay more than expected,” says Brian Moody, Autotrader executive editor, in a news post. .
To make this list, Autotrader analyzed average price transactions, which the car site says is a measure of “the sale price in a transaction vs. the Manufacturer’s Suggested Retail Price (MSRP). In the list below, I have included the cars, their categories, and the MSRP price increase percentages, as reported by Autotrader on Aug 30, 2021.
These cars are selling for more than their retail prices
|Car||Cart Category||Average Transaction Price|
|Mercedes-Benz G-Class||Luxury SUV||118% of MSRP|
|Kia Telluride||Midsize SUV||108% of MSRP|
|Kia Carnival||Minivan||107% of MSRP|
|Hyundai palisade||Midsize SUV||105% of MSRP|
|Honda ridgeline||Midsize Truck||105% of MSRP|
|Land Rover Defender||Luxury SUV||105% of MSRP|
|Honda CR-V||Compact SUV||105% of MSRP|
|Cadillac Escalade||Luxury SUV||104% of MSRP|
|Nissan versa||Subcompact Car||103% of MSRP|
|Honda odyssey||Minivan||103% of MSRP|
See the full list of cars on Autotrader.
How to pay less for a car
Let’s say you are ready to buy a car. Even if prices are rising, Clark says there are some ways you can save money when you buy a car.
1. Compare prices between dealers
Technology has made it easier than ever to compare prices before you buy a car. Clark recommends checking out the Driveway Car Market website. If you prefer a used car, you should take a tour of Carvana and CarMax.
2. Choose the correct model
You may be able to save money on a car by choosing a model that is going to be discontinued or that has recently been redesigned. In the latter case, you will want to stick with the older version. Dealerships will typically be eager to ditch old models so they can make room for the newer (more expensive) versions. Here is a list of cars that are discontinued in 2021 and a list of those that will be discontinued in 2022.
3. Change your car
A great way to offset some of the costs of a new car is to trade in your used car. Although Clark feels that the car evaluation tools at Edmunds and Kelly Blue Book are having trouble keeping up with how complex the used car market is right now, he recommends Carvana’s Instant Offer tool as a good starting point to see what. is what you can get for your car. Once you see how much your car is worth, you are ready to put a price on it.