Used Corvettes are worth $26,000 more than they were new last year. Here are 8 more used cars that gained value since 2020.
Kristen Lee/Business Insider
- Used-car prices are at record highs, and prices on some models are spiking.
- CNN analyzed Edmunds.com data to compare new retail prices in 2020 with used retail prices in 2021.
- The Corvette saw the biggest gain of nearly $26,000, due in part to fewer new ones being made.
- See more stories on Insider's business page.
The used-car market is at record highs, especially for popular styles that are nearly new.
Normally, a car loses as much as a quarter of its value in its first year, but a CNN analysis of Edmunds.com data found that a few models have actually increased in value since leaving dealers' lots.
The comparison looked at new retail prices in 2020 and used retail prices in 2021 to see which cars were worth more, and a few had increased so much that their trade-in value was more than the original sale price.
Here are nine models that have gained the most value in the past year.
Subaru.
2020 New: $22,614
2021 Used: $22,838
Subaru's Indiana plant was temporarily shut down because of the chip shortage, and larger, more profitable models like the Outback and Ascent may have taken precedence.
Kia Telluride +$1,433Kristen Lee/Business Insider
2020 New: $42,609
2021 Used: $44,042
Kia struck gold with the Telluride, its extremely popular three-row SUV, but production has not been able to keep pace with demand.
Honda Civic +$1,740Alanis King
2020 New: $22,709
2021 Used: $24,449
If you traded in your year-old Honda Civic, you would get just $1,200 less than you paid for it, or just $100 per month of ownership. That's not bad.
Jeep Wrangler +$3,193FCA
2020 New: $44,341
2021 Used: $47,534
American drivers can't get enough of the rugged Wrangler.
Toyota 4Runner +$3,802Toyota
2020 New: $43,403
2021 Used: $47,205
The iconic 4Runner helped make SUVs the most popular category of all. Enough said.
Chevrolet Camaro +$4,638Chevrolet
2020 New: $37,879
2021 Used: $42,517
Camaro production was curtailed in order to direct the available chips to higher-profit-margin vehicles like trucks and SUVs.
Dodge Challenger +$5,754Dodge
2020 New: $41,766
2021 Used: $47,520
Like the Camaro, new Challengers weren't able to dodge the chip shortage.
Ram 2500 +$6,668AP
2020 New: $56,768
2021 Used: $63,436
The CNN report attributed part of the increased demand for heavy-duty pickups to an increase in sales of campers and RVs. A Ford F-250 is also now worth more in trade than it sold for new.
Chevrolet Corvette +$25,812Kristen Lee/Business Insider
2020 New: $81,425
2021 Used: $107,237
Production of new Corvettes has been interrupted this year by supply-chain problems, but notably not due to the semiconductor shortage that has impacted other makers.