Should You Sell Your Vehicle? Used Car Prices Are Skyrocketing For These 10 Models.
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If you were building a portfolio, you probably wouldn’t start with vehicles. It’s rare that cars—notorious for losing a fat chunk of value the second they leave the lot—appreciate as assets. But that’s suddenly the case for many used vehicles. Rental car companies are fighting to restore the fleets they sold off during the pandemic, and supply chain issues have choked the availability of new vehicles. That’s created a perfect storm for used car prices.
Some vehicles are appreciating much faster than others. Most notably, the models below have risen a staggering 40-50% in value over the past year.
Used Cars Gaining The Most Value
If your vehicle lands on the list below, it may be time to flip your car for a profit. Assuming, of course, you can replace it with something that isn’t also surging in price.
All percentage gains represent the change in average sale price from June 2020 until June 2021, according to data from ISeeCars.com.
10. Chevrolet Spark
Average used car price in June 2021: $13,892 (+41%)
9. Ford Mustang
8. GMC Sierra 1500
7. Audi A5
Average used car price in June 2021: $44,376 (+41%)
6. Lincoln Navigator
Average used car price in June 2021: $65,236 (+42%)
5. Dodge Ram Pickup 1500
4. Lincoln Navigator L
Average used car price in June 2021: $66,508 (+44%)
3. Chevrolet Camaro
2. Mercedes-Benz G-Class
1. Nissan Leaf
Average used car price in June 2021: $20,015 (+48%)
The Used Car Price Surge
While these are the most extreme cases, according to data from ISeeCars.com, these vehicles are hardly alone. In all, used car prices in June increased an average 32.7% year-over-year. That’s an average price jump of $7,583 in 12 months, compared to most years when prices decrease or remain flat.
For more used car data, check out ISeeCars.com’s complete rankings.