The gap between new- and used-vehicle pricing in many segments has narrowed significantly. New vehicles are now selling, on average, for 11.5% more than a comparable 1-year-old used car, KBB says.
Used subcompact and compact cars only offer consumers an average savings between 5% and 7% percent. Used hybrid cars and midsize crossovers are within 3% to 4% of an equivalent new vehicle.
The shrinkage of the price gap defies what buyers usually expect, that they can save thousands by buying a rental car being booted from the fleet or other slightly used car. KBB's study calls into question whether it's worth buying slightly used, instead of new.
The difference varies by model. A new 2012 Toyota FJ Cruiser lists for $28,500, only $244 more than a used one. A new 2012 Ford Focus is $3,000 on average less than a 2011 version, but the 2012 was all-new and vastly improved.
The vehicle in which the used price is closest to new? That would be the 2011 Chevrolet Camaro, which has an average price of only $126 less than the cost of a new 2012 model.
(Source: USA Today, 08/06/12)
Yes, pricing of used cars at new-car dealerships is a total ripoff, as is the Blue Book they use to justify their prices. No one with any negotiating skill pays anywhere near asking price.
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