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IPFS News Link • Transportation

A supply crunch has sent used-car prices soaring. These 16 models are now worth more used than new.

• Business Insider

Skipping a brand-new car for one that's lightly used has always been the most wallet-friendly way to buy a car. Not anymore.

In the strange and sometimes utterly backward-seeming times we're living in, it's actually cheaper to buy some cars new rather than secondhand. A recent analysis from the automotive-research site iSeeCars.com identified 16 such vehicles, some of which cost thousands more to buy used.

The pandemic has led to a diminished supply of cars and outsized demand for them, sending used-vehicle prices through the roof. Amid financial uncertainty, people have been hanging on to their cars longer, choking a key pipeline of used cars to dealers. Meanwhile, a shortage of microchips has hampered car production globally and slashed the supply of new models.

iSeeCars.com's analysis of some 470,000 2019- and 2020-model-year cars listed for sale in June found that the gap between used- and new-car prices had shrunk considerably in recent months. In early November, the average lightly used car cost nearly 11% less than its new counterpart. In June, that gap was just over 3%.


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