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).
Several other General Motors vehicles also made the top 15, including the GMC Sierra 1500 in seventh (8.2 percent, $4,731) and the Chevy Silverado 1500 (11.2 percent, $5,072).
“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.
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Source: iSeeCars
Comments
The story should be titled that the Colorado and Canyon are tops for resale value.
These trucks have been at the top of resale value list with the Wrangler. On the Forum for the Colorado many have upgraded early as the resale vs the new price is small.
Resale was good before the Virus and chip shortage and it has only reinforced their values as supplies got tighter.
Please track my order of my new Colorado order number ZFTVBT
Nobody outside of the dealership you ordered from has the capability to do that.
Not true. Any GM dealer can with the order #.
Point was that this website ain’t a dealership.
This has been the case I’d say for the past 4 years for cars in general. It’s harder to find a decent winter beater then a new car.
If there is a shortage of newish Colorado’s they can buy my new Colorado back if they want – we have had it 4 months now and have been disappointed in most of it. I traded in a Honda Civic to get it, which is also part of this list of over-rated vehicles – we need to stop believing all of these silly articles.
Article is under “GM Authority”. Of course they’re going to say it’s a good truck. They forgot to mention the thousands of recalls they just recently had.