If you are looking for a new car, you may find that the price is much higher than you expected. right now How very much? Depending on the make and model, a lot!
Autotrader recently released a report which shows the cars that are consistently selling above their sticker prices.
Looking for a new car? These models can give you sticker shock
In this “ugly” market, as money expert Clark Howard puts it, finding an affordable vehicle can be a challenge. After making a list of overpriced cars, I’ll share some of Clark’s favorite tips for saving money on a car.
Brian Moody, executive editor of Autotrader, said in a news release, “Many car buyers are in for a surprise right now – if they can find the model they’re looking for at a dealership, they may end up paying more than expected for it. ” release.
To come up with its list, AutoTrader analyzed average transaction prices, which the car site says are a measure of “the selling price in a deal versus the manufacturer’s suggested retail price (MSRP).”
In the list below, I have included the vehicles, their categories and percentage of price increase on MSRP as reported by Autotrader on August 30, 2021.
These cars are selling for more than the retail price
View the full list of cars from Autotrader.
how to pay less for a car
Let’s say you are ready to buy a vehicle. Despite the price hike, Clark says there are a few ways you can save money when buying a car.
1. Compare Prices Between Dealers
Technology has made it easier than ever to compare prices before buying a vehicle. Clark recommends giving online car marketplace Driveway a spin.
If you prefer a used vehicle, you should also shop at Carvana and CarMax.
Here are the best car buying services for you.
2. Choose the Right Model
You may be able to save money on a car by choosing a model that is being discontinued or has recently been redesigned. In the latter case, you’ll want to stick with the older version.
Dealers will usually be eager to get rid of older models to make room for newer (more expensive) versions.
Here is a list of cars that were discontinued in 2021 and a list of those that will be discontinued in 2022.
3. Trade in Your Car
A great way to offset some of the cost of a new car is to trade in your used vehicle.
Although Clark thinks the car valuation tools at Edmunds and Kelley Blue Book are having trouble keeping up with the distorted used vehicle market right now, he recommends looking at Carvana’s instant offer tool as a good starting point. What can you get for your car?
Once you see what your vehicle is worth, you will be ready to state your price.
Here’s How Clarke Made About $4,000 Selling His Old Car.
Want some more money saving tips? Here’s how to buy a new car.