Overhaulin'

Why are used car prices sometimes higher than the same car new?

I have been puzzled for years why I see 1 or 2 sometimes 3 year old used vehicles at the same price level or even higher than a new car? Perhaps I have been missing something but it seems that not only am I paying the new car price for used but also have to pay higher interest rates for a loan. Where is the advantage?

Public Comments

1. Usually, they aren't. And you might be comparing a base model new car to a high end used car.
2. idk where you're trying to buy from but it sounds pretty screwy to me, dealers charge alot more for used cars due to their ways of doing business. if it costs more obviously buy a new car, but for the most part a cheap used car is way less then dealer price if you pay cash, this is party because of taking a loan out etc etc just pay cash but a used toyota or honda spend no more then $5000 and have a reliable car.
3. Apart from scam, someone bought the car, has a low mileage and has added the entire universe in it, maybe a kitchen or something.
4. There are some makes/models whos rarity increases the value of a pre-owned example which is available immediatly. An example of this would be the Morgan Plus Eight, the last time I looked there was a 7 year waiting list for a new car, as each is hand built. Second hand value on a 4 year old therefore was in excess of the new price.