The Worst Deals on New Cars Right Now

The Worst Deals on New Cars Right Now

14 Mar    Finance News

Some models are so hard to come by that consumers are paying well above the sticker price for them

By Jeff S. Bartlett

with Todd Young

If you have your heart set on buying a new car this year, be prepared to pay significantly more for some models—or choose one that isn’t in high demand.

Inflation and parts shortages have thrown a wrench into the auto industry, putting a severe strain on the new-car market. So forget about saving money off the sticker price on many popular cars, SUVs, and trucks. Some are so hard to come by that consumers are paying well above the sticker price for them. That includes must-have models like entry-level models, hybrids and electrics, and those essential for business, such as heavy-duty pickup trucks.

In fact, the average price for new cars has climbed nearly $5,000 in the past year, reaching over $46,000 in February 2022, according to Kelley Blue Book.

In some cases, you might think it’s worth the extra money for your dream vehicle, even if it means greater depreciation over time. For other vehicles, it may be better to seek a suitable, more plentiful alternative.

Below we present the 10 cars, minivans, and SUVs that are selling the most over the sticker price, starting with the highest and using specific trims as examples. Again, Hyundai and Kia dominate the list. All highlighted models are from the 2022 model year.

CR members will see ratings highlights and detailed pricing on specific trims and configurations. Keep in mind that this list doesn’t factor in Consumer Reports’ recommendations, nor do we endorse paying such premiums on a new car.

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Just beyond these 10 models, there are several others selling for 15 percent or more over MSRP, including (in rank order) the Hyundai Elantra, Hyundai Kona EV, Hyundai Palisade, Kia K5, Nissan Sentra, Nissan Kicks, Chevrolet Camaro, and Subaru Impreza.

Of course, local pricing may differ. You can see the transaction prices for these and every other mainstream vehicle from the model pages on our New Cars A-Z page.

Also see the best deals on new cars and new SUVs now, and browse the list of the most discounted cars.

CR’s Build & Buy Car Buying Service

In addition to research and reviews, Consumer Reports offers members access to the Build & Buy Car Buying Service at no additional cost. Through this service, members can compare in-stock vehicles, see what others paid for the car they want, and customize their payments online. Once they find the vehicle they are interested in, members can get up-front price offers online from local certified dealers. On top of national incentives, Consumer Reports members are eligible for additional incentive offers from select manufacturers through the Build & Buy Car Buying Service. Plus, members can get an instant trade-in value for their current vehicle to use toward their next car purchase.

Kia Soul: 20% Over MSRP

2022 Kia Soul

2022 Kia Soul Turbo DCT
MSRP: $27,890
Average spent over MSRP: $5,486
Average transaction price: $33,376

Kia Rio: 20% Over MSRP

2022 Kia Rio

2022 Kia Rio S Sedan IVT
MSRP: $16,890
Average spent over MSRP: $3,297
Average transaction price: $20,187

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Kia Telluride: 19% Over MSRP

2022 Kia Telluride

2022 Kia Telluride S FWD
MSRP: $35,590
Average spent over MSRP: $6,751
Average transaction price: $42,341

Kia Sorento: 19% Over MSRP

2022 Kia Sorento

2022 Kia Sorento Hybrid S AWD
MSRP: $35,890
Average spent over MSRP: $6,713
Average transaction price: $42,603

Kia Carnival: 19% Over MSRP

2022 Kia Carnival

2022 Kia Carnival LXS
MSRP: $34,300
Average spent over MSRP: $6,382
Average transaction price: $40,682

Hyundai Accent: 18% Over MSRP

2022 Hyundai Accent

2022 Hyundai Accent SE
MSRP: $16,645
Average spent over MSRP: $3,025
Average transaction price: $19,670

Hyundai Tucson: 17% Over MSRP

2022 Hyundai Tucson

2022 Hyundai Tucson Plug-In Hybrid Limited AWD
MSRP: $42,700
Average spent over MSRP: $7,448
Average transaction price: $50,148

Hyundai Venue: 17% Over MSRP

2022 Hyundai Venue

2022 Hyundai Venue SEL IVT
MSRP: $20,750
Average spent over MSRP: $3,614
Average transaction price: $24,364

Chevrolet Spark: 17% Over MSRP

2022 Chevrolet Spark

2022 Chevrolet Spark LS CVT
MSRP: $14,700
Average spent over MSRP: $2,495
Average transaction price: $17,195

Subaru Crosstrek: 17% Over MSRP

2022 Subaru Crosstrek

2022 Subaru Crosstrek Hybrid
MSRP: $35,845
Average spent over MSRP: $6,087
Average transaction price: $41,932

Tips for Buying a New Car

There are a lot of things to consider when buying a new car. On the “Consumer 101” TV show, Consumer Reports expert Kelly Funkhouser explains to host Jack Rico what to look for before taking a test drive.

More from Consumer Reports:
Top pick tires for 2016
Best used cars for $25,000 and less
7 best mattresses for couples

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