Automotive research website iSeeCars recently identified the top cars with the smallest price difference between gently used models and equivalent new models. Making the top 10 list was the Chevy Colorado pickup, with an average price difference of 8.8 percent ($3,051) between new and gently used versions.
According to the recent iSeeCars report, the average one-year-old lightly used car is 17 percent less expensive than an equivalent new model. However, there’s a significant range to consider, with the smallest pricing difference of just a few percent, and the largest pricing difference over 35 percent.
Looking over the iSeeCars list of vehicles with the smallest pricing difference between new and gently used, the Tesla Model 3 is at the top with a 2.1-percent difference, or $923. The Toyota Tacoma is second with a 4.2-percent difference, or $1,557, while the Kia Telluride is third with a 5.7-percent difference, or $2,456.
Further down the list, the Chevy Colorado slots above the Honda Civic hatchback, which has an 8.9-percent difference ($2,309), and below the Toyota Tundra, which has an 8.3-percent difference ($3,939).
“Plant shutdowns during the COVID-19 pandemic led to a widespread shortage of new pickup truck inventory as demand for pickup trucks continued and drastically outpaced supply,” said iSeeCars Executive Analyst Karl Brauer. “This led to a shortage in the used car market as well because fewer people were trading in their trucks, while used truck demand remained high due in part to a surge in home improvement projects.”
The iSeeCars report is based on an analysis of asking prices for more than 2.6 million new and used cars sold between August of 2020 and March of 2021. New cars included those from the 2020 and 2021 model years, while lightly used vehicles were between the 2019 and 2020 model years.