zzdcar
Home
/
Reviews
/
Buying
/
There Are No More Cheap Cars
There Are No More Cheap Cars-August 2024
2024-02-19 EST 22:09:27

Image for article titled There Are No More Cheap Cars

The price of cheap, like the and is steadily going up — and no, not even looking for a used version will save you money.

A study from found that are increasing on the low-end of the market much more than at the high-end, meaning that, right now, economy cars aren’t really “economy” cars in the usual sense. And the study the higher prices probably won’t be going down through 2022.

Image for article titled There Are No More Cheap Cars

This comes as a surprise not only because it’s not often that so-called econoboxes like the Mitsubishi Mirage or Chevy Spark get a price hike (especially when we’re talking about used cars) but also because used car prices had started to go down — maybe even back down to normal — since the middle of this year, per :

“Used car prices had drifted down, slightly, since they peaked in June, but they are back on the rise again, with the average used vehicle priced nearly over $7,000 above where it was last November,” said Karl Brauer, iSeeCars’ Executive Analyst. “With microchip shortage-related plant shutdowns persisting throughout the year, automakers have not kept pace with pent-up demand, and lingering supply constraints that are expected to continue well into 2022.”

Right now, a used Mirage is up 52.3 percent, or close to $5,000, from what it would have cost last year. That brings the average price for a used Mirage to $14,404. A used Chevy Spark is up 50.7 percent, or about $5,275, which brings the average price to $15,672.

Image for article titled There Are No More Cheap Cars

Those used prices are uncomfortably close to the MSRP of both cars when new, but I guess I can’t harp on that too much because list prices .

The iSeeCars lists eight other used cars that have gotten more expensive in the last year, and they are the following:

Nissan LEAF: Up by $8,404 for an average price of $21,524.Kia Forte: Up by $5,369 for an average price of $18,046.Kia Rio: Up by $4,790 for an average price of $16,135.Mini Hardtop 2 Door: Up by $7,136 for an average price of $24,788.Toyota Prius: Up by $6,912 for an average price of $24,121.Toyota Corolla: Up by $5,693 for an average price of $20,092.Kia Soul: Up by $5,065 for an average price of $18,069.Lincoln Navigator: Up by $18,476 for an average price of $66,726.

Notice that the Lincoln Navigator went up by more than the cost of a whole-ass Chevy Spark, by the way. Yikes. But I think the Nissan LEAF makes sense, and we can thank for blowing up everyone’s . On the one hand, I’m happy that are getting attention. But on the other, I’m not happy for those buyers who would’ve scored a deal on a once-cheap car, made even cheaper through depreciation.

Image for article titled There Are No More Cheap Cars

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
At $29,990, Is This 1987 Ferrari Mondial 3.2 Anything To Celebrate?
At $29,990, Is This 1987 Ferrari Mondial 3.2 Anything To Celebrate?
The Mondial may be Ferrari’s least desirable model at the moment, but as evidenced by today’s cabriolet, it’s also one of the brand’s most affordable. Let’s see if that raises the want factor. So, the rule of thumb is you don’t kiss someone with visible cold sores on their...
Aug 16, 2026
At $25,000, Could This 1989 Ford Mustang LX 5.0 Notch Up A Win?
At $25,000, Could This 1989 Ford Mustang LX 5.0 Notch Up A Win?
The California Highway Patrol once famously rolled in cars like today’s Mustang. This civilian model has super-low miles, but could its not-so-low price still prove tobe a ticket to ride? There’s an interesting comparison to be had between the V8 engine in today’s ‘Stang and the one powering last...
Aug 16, 2026
Hovel For Sale
Hovel For Sale
Now, it’s not unusual that hovels get put up for sale—that happens damn-near every day—but this particular one caught my eye because it belongs to some sportsball-playing person named . I understand that a great many of you know of and care about this person. Haha! Look at this...
Aug 16, 2026
How Can I Test Drive A Car While Social Distancing?
How Can I Test Drive A Car While Social Distancing?
As Jalopnik’s resident car buying expert and professional car shopper, I get emails. Lots of emails. I’ve decided to pick a few questions and try to help out. This week we are discussing social distancing and test drives, using your credit to leverage low APR financing and potential Mad...
Aug 16, 2026
I Need A Car That Can Do It All For $40,000! What Should I Buy?
I Need A Car That Can Do It All For $40,000! What Should I Buy?
Todd lives in New Hampshire and needs a vehicle that can do it all including light towing and hauling the family, but it also needs to be fun and somewhat reliable. Even with a relatively healthy budget of $40,000, this is a bit of a challenge. What car should...
Aug 16, 2026
The 2020 Honda Civic Hatchback Is Too Good For Superfluous Luxury Options
The 2020 Honda Civic Hatchback Is Too Good For Superfluous Luxury Options
If you want a reliable, compact, and economical car, you’ll consider a Honda Civic. I don’t care who you are. And if you want to stretch that usability even further, then you’d absolutely consider a . It’s just an added bonus the car is actually quite fun to drive, too....
Aug 16, 2026
Copyright 2023-2026 - www.zzdcar.com All Rights Reserved