Used car prices are at record highs in the wake of the microchip shortage. According to the latest study by car search engine iSeeCars.com, the average one-year-old lightly-used car costs 1.3 percent more than its new version. However, some lightly-used vehicles have price increases far greater than this average.

iSeeCars.com analyzed prices of over 1.5 million new and used cars sold in January 2022 to identify the lightly-used cars that have the highest price increases compared to their new versions.

Here are the used cars that cost the most over their new version in each state:

Top Used Cars That Cost More Than New By State - iSeeCars
State Vehicle % Used Price More than New $ Used Price More than New
Alabama Toyota Tacoma 15.0% $5,701
Alaska Subaru Crosstrek 28.3% $8,261
Arizona Chevrolet TrailBlazer 18.8% $5,004
Arkansas Toyota Tacoma 16.3% $6,122
California Mercedes-Benz G-Class 50.4% $87,614
Colorado Toyota 4Runner 11.1% $5,180
Connecticut Toyota Tacoma 16.1% $6,200
Delaware Toyota RAV4 6.7% $2,127
Florida Chevrolet Corvette 24.0% $19,494
Georgia Kia Seltos 19.1% $5,112
Hawaii Dodge Charger 28.8% $11,283
Idaho GMC Yukon 11.9% $8,748
Illinois Toyota Sienna 17.4% $7,952
Indiana Ford Bronco Sport 18.5% $6,160
Iowa GMC Yukon 11.9% $8,748
Kansas Dodge Charger 20.5% $8,098
Kentucky Dodge Charger 24.1% $9,379
Louisiana GMC Yukon 17.0% $11,736
Maine Subaru Forester 13.2% $4,120
Maryland Dodge Charger 17.7% $6,750
Massachusetts Toyota Tacoma 14.6% $5,413
Michigan Kia Telluride 19.8% $8,922
Minnesota Toyota 4Runner 14.4% $6,747
Mississippi Toyota Tacoma 18.7% $6,706
Missouri Dodge Charger 18.0% $6,929
Montana Ford Bronco Sport 20.5% $7,070
Nebraska Toyota Tacoma 11.9% $4,488
Nevada Kia Soul 18.2% $3,858
New Hampshire Subaru Crosstrek 13.8% $3,984
New Jersey Toyota RAV4 Hybrid 22.2% $7,780
New Mexico Kia Sportage 22.5% $6,534
New York Ford Bronco Sport 19.7% $6,631
North Carolina Toyota RAV4 Hybrid 18.0% $6,570
North Dakota Chevrolet Tahoe 14.3% $9,798
Ohio Dodge Charger 18.9% $7,753
Oklahoma Toyota Tacoma 18.8% $7,102
Oregon Toyota RAV4 Hybrid 22.3% $7,840
Pennsylvania Dodge Charger 22.5% $8,658
Rhode Island Toyota Corolla 9.7% $2,233
South Carolina GMC Yukon 16.7% $12,442
South Dakota Subaru Outback 6.34% $2,261
Tennessee Kia Telluride 14.7% $6,594
Texas Toyota RAV4 Hybrid 19.4% $6,833
Utah Toyota RAV4 12.5% $4,171
Vermont Toyota Tacoma 9.2% $3,447
Virginia Ford Bronco Sport 14.1% $4,863
Washington Toyota RAV4 Hybrid 20.2% $7,060
West Virginia Chevrolet TrailBlazer 21.4% $6,080
Wisconsin Chevrolet TrailBlazer 14.9% $3,974
Wyoming Jeep Grand Cherokee 12.2% $5,826
  • The Toyota Tacoma pickup is the used car that is the most expensive compared to its new version in the most states with 8.
  • The used vehicle that costs the most compared to its new version is the Mercedes-Benz G-Class in California with a 50.4 percent price increase.
  • SUVs are the most represented vehicle type accounting for 31 of 50 vehicles.
What Does This Mean for Consumers?

When deciding between a new and a lightly-used version of the same vehicle, there are important things to consider. While buying a lightly-used car typically provides upfront cost savings compared to buying a new one, this is no longer the norm in today’s market. Shoppers looking for lightly-used cars should always compare the prices to new cars, and buyers who are unable to find the new car they are looking for should avoid models with the highest price increases if they decide to go used instead.

Methodology

iSeeCars.com analyzed over 1.5 million cars sold between January 1, 2022 and January 31, 2022.  New cars included in the analysis were from model years 2021 and 2022, while lightly-used cars were defined as used vehicles from model years 2020 and 2021. Low-volume models were excluded from the analysis, as were cars with outlier mileages and models discontinued as of the 2021 model year. The average asking prices of the lightly-used cars were compared to those of new cars from the same model. The difference in price for each car was expressed as a percentage of the new average prices and ranked by this difference.

About iSeeCars.com

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $320 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.