The Jeep Wrangler Rubicon. Jeep
- Buying a car has always been a big purchase, but it’s become especially hard on the wallet during the pandemic.
- Dealers are asking thousands above MSRP for popular models from Ford, Jeep, and others.
- Car-shopping site iSeeCars identified the 15 models with the worst dealer markups.
Almost three years into the global pandemic, some impacts of the virus are still raging, including extraordinarily high prices for new cars.
Jeep Wranglers are displayed at a Manhattan dealership. Spencer Platt/Getty Images
On average, dealers are asking 10% above MSRP for new vehicles, according to a recent study by the car-shopping website iSeeCars. Compare that to pre-pandemic times, when salespeople would hand out aggressive discounts to move cars off of their lots.
View of a used car dealership in Ridgewood, Queens New York on January 19, 2022. Pablo Monsalve/VIEWpress/Getty Images
Source: iSeeCars
But that’s not the worst of it. The analysis found that some of the most popular cars are being listed for up to 24% over suggested sticker price.
2022 Ford Maverick. Ford
That means if you want a hot model like a Jeep Wrangler, Porsche Cayenne, or Ford Bronco, you’ll need to shell out thousands — sometimes almost $17,000 — more than those brands think their cars are worth.
The new Ford Bronco. Alanis King
Parts shortages have stunted vehicle production worldwide, leaving US dealers with millions fewer cars to sell.
Jeep Gladiator pickup trucks at a dealership. David Zalubowski/AP
According to the basic laws of supply and demand, they’re now able to charge top dollar for the vehicles they have in stock. And buyers are paying up.
2020 Chevrolet Corvette. Kristen Lee/Business Insider
See the 15 models priced the highest above MSRP below. They’re ranked based on the percentage over sticker that dealers are asking.
The 2022 Genesis GV70. Doug Berger for NWAPA
15. Genesis GV80
The 2021 Genesis GV80 SUV. Guillaume Fournier
Asking price: 18% or $10,124 above MSRP
14. Ford Maverick
The 2023 Ford Maverick Tremor. Ford
Asking price: 18.4% or $4,614 above MSRP
13. Jeep Gladiator
Jeep Gladiator Mojave. Jeep
Asking price: 18.5% or $8,478 above MSRP
12. Lexus RX 350L
2022 Lexus RX350L. Lexus
Asking price: 18.8% or $9,423 above MSRP
11. Mini Hardtop
The 2022 Mini Hardtop. Mini
Asking price: 18.8% or $5,426 above MSRP
10. Mercedes-Benz GLB
The Mercedes-Benz GLB. Mercedes-Benz
Asking price: 19% or $7,650 above MSRP
9. Chevrolet Corvette
2020 Chevrolet Corvette. Kristen Lee/Business Insider
Asking price: 19.5% or $14,697 above MSRP
8. Porsche Cayenne
The Porsche Cayenne. Porsche
Asking price: 19.6% or $16,750 above MSRP
7. Cadillac CT5
2022 Cadillac CT5-V Blackwing. Cadillac
Asking price: 19.9% or $8,335 above MSRP
6. Jeep Wrangler Unlimited (four-door)
Jeep Wrangler Unlimited. Jeep
Asking price: 20% or $8,877 above MSRP
5. Ford Bronco
The 2022 Ford Bronco. Ford
Asking price: 21.6% or $8,697 above MSRP
4. Lexus RX450h
The 2022 Lexus RX450h. Lexus
Asking price: 21.9% or $10,847 above MSRP
3. Genesis GV70
The 2022 Genesis GV70. Genesis
Asking price: 22.4% or $10,278 above MSRP
2. Porsche Macan
The Porsche Macan. Porsche
Asking price: 23.1% or $14,221 above MSRP
1. Jeep Wrangler
The Jeep Wrangler. Jeep
Asking price: 24.4% or $8,433 above MSRP
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Keyword: Prepare to pay up to $17,000 over MSRP for these 15 cars with the worst dealer markups, including the Jeep Wrangler and Porsche Cayenne