Savvy consumers should avoid buying these new cars
(iSeeCars) — Although the new car supply chain is steadily improving, new cars continue to be priced well above MSRP (Manufacturer’s Suggested Retail Price). A new iSeeCars study found that the average new car price is 8.8 percent over MSRP, and some vehicles are priced well above this average.
Here are the new cars that are priced the highest above MSRP in each state.
|The New Car Priced the Highest Over MSRP in Each State- iSeeCars|
|State||Vehicle||% Above MSRP||$ Above MSRP|
|Alaska||Jeep Wrangler Unlimited||30.5%||$12,640|
|Arkansas||Jeep Wrangler Unlimited||27.0%||$12,209|
|Florida||Lexus RX 350h||25.6%||$12,528|
|Idaho||Jeep Wrangler Unlimited||27.4%||$12,360|
|Maine||Jeep Wrangler Unlimited||29.9%||$12,182|
|Montana||Jeep Wrangler Unlimited||33.1%||$13,344|
|New Hampshire||Genesis GV70||28.2%||$12,562|
|New Jersey||Genesis GV70||25.7%||$11,716|
|New Mexico||Jeep Wrangler||28.7%||$9,838|
|New York||Genesis GV70||26.4%||$12,154|
|North Carolina||Genesis GV70||26.7%||$11,447|
|North Dakota||Jeep Wrangler Unlimited||25.6%||$11,489|
|Rhode Island||Jeep Wrangler Unlimited||25.0%||$11,046|
|South Carolina||Genesis GV70||31.2%||$13,624|
|South Dakota||Jeep Wrangler Unlimited||18.6%||$8,800|
|Vermont||Jeep Wrangler Unlimited||28.0%||$11,866|
|West Virginia||Jeep Wrangler Unlimited||29.0%||$12,548|
|Wyoming||Jeep Wrangler Unlimited||23.3%||$10,642|
- The Genesis GV70 luxury compact SUV is the vehicle with the highest dealer markup in the most states with 22.
- The vehicle with the highest markup across all states is the Mercedes-Benz G-Class, which is priced 44.6 percent above MSRP in Georgia.
- Luxury SUVs are the most represented vehicle type, accounting for the highest marked-up vehicles in 29 states.
What Does This Mean for Consumers?
New car buyers can expect to pay higher-than-average prices for vehicles that are in high demand. The best way to avoid paying over sticker price is to broaden your search radius and consider similar vehicles that may not be as overpriced. Additionally, consumers in some cases can avoid markups by ordering directly from the manufacturer.
More from iSeeCars:
iSeeCars.com analyzed over 12 million new car sales from February 2022 through February 2023. The average list prices of new cars, as well as the average of their MSRPs, were aggregated by month, as well as by body style and model. Heavy-duty vehicles and low-volume models were excluded from further analysis. The differences between average prices and average MSRP were expressed as percentage differences.
iSeeCars.com is a data-driven car search and research company that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars VIN check report and Best Cars rankings. iSeeCars.com has saved users over $372 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.
This article, The Cars With the Highest Dealer Markups by State, originally appeared on iSeeCars.com.
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