Over the last couple of years, we’ve seen used car prices rocket to ridiculously high numbers; as those prices have consistently been falling, it appears some are continuing to go for more than they would cost new. If you have a Ford Maverick, Ford Bronco, or Chevy Corvette, you could still profit as people scramble to get their hands on the vehicles amidst high demand and low supply.
Ford Maverick, Bronco, Chevy Corvette Used Car Price: Comparison
A recent study from iSeeCars.com analyzed over 8.9 million new and slightly used cars to identify used models with the highest price above their new car equivalents. The vehicle that finds itself at the top of the list is the Ford Maverick which sees a 12.3% difference over new, which means used cars are selling for $4,038 over what people are paying for a new car. Meaning you could turn a profit by selling a lightly used tiny truck. This is the highest difference from the vehicles analyzed in the study, so the yield from flipping a car will be significantly less for the other vehicles we’ll mention.
Image copyright Steven Pham, Muscle Cars & Trucks
The Ford Bronco, an extremely popular vehicle gunning to outsell the Jeep Wrangler, falls in 9th place in the recent study. However, with a percentage of 1.7 used over new, owners can turn a $901 profit for the Ford Bronco with a used price of around $55,372. But, of course, depending on the trim and if you bought your vehicle at MSRP, that profit margin could be significantly higher.
Finally, the Chevrolet Corvette ranks at number 12 on the list, with a difference of 0.4% over a new one. That means that you could make a total of $324 by selling your C8 Corvette. We’ve seen flippers recently fail to reach the ideal price as of late with, significantly marking up the Z06, so it’s not surprising that the Corvette ranks so low here, with a total of 14 cars on the list of being more expensive and lightly used over new. That said, the prices for used vehicles are consistently falling, and on average, used cars are 8.1 percent cheaper than their new car equivalent, so purchasing a vehicle to flip it at this point may not prove to be profitable anymore, which is good for consumers, but not for people heavily investing in the scheme.
Image copyright Steven Pham, Muscle Cars & Trucks.
