Looking to buy a new car, but not sure which deals are good, and which are bad? Here’s a recent updated list from Consumer Reports analysts who recently reported the worst deals on new cars right now with some models as high as 23% above MSRP.
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Cars with Prices Running Well Above their MSRP
Unfortunately, many new car models are going way over their MSRP. How much more? In some cases, as much as 23% above the MSRP! That’s the message in a recent update to the worst new car deals out there right now.
While the sticker shock is significant, it pays to bear in mind that according to CR analysts the “…average price for new cars has climbed nearly $5,410 in the past year, reaching $48,043 in June 2022.” Therefore, if you are looking to trade-in your older used car with a newer model---follow the Boy Scout motto “Be Prepared.”
To help consumers “Be Prepared” and streamline their new car by avoiding looking at cars and SUVs that are selling the most over the sticker price, CR analysts have put together a new updated listing based on sticker price data from TrueCar.
What consumers are discovering is that once again automakers Hyundai and Kia are dominating these listed prices offered by dealerships starting with the Kia Seltos hitting a new high selling for 23% over MSRP with the Kia Telluride a close second at 22%.
That said, here is a summary of the list presented in ranked order from highest to lowest above MSRP. For a more detailed breakdown of the data, please visit the CR website. Note that while access to some information requires a CR membership, the potential savings make it negligible in comparison when looking for the latest information to aid your car buying research.
Worst Deals Right Now
1. Kia Seltos: 23% Over MSRP
Price Range: $22,590 - $28,090
CR MPG: Overall 28 / City 20 / Hwy 35 mpg
Rated #11 of 15 Subcompact sport-utility vehicles
Trim Example: 2022 Kia Seltos LX 2.0 AWD
MSRP: $22,590
Average spent over MSRP: $5,252
Average transaction price: $27,842
2. Kia Telluride: 22% Over MSRP
Price Range: $33,390 - $45,190
CR MPG: Overall 21 / City 14 / Hwy 30 mpg
Rated #1 of 14 Midsized sport-utility vehicles 3-row
Trim Example: 2022 Kia Telluride LX FWD
MSRP: $33,390
Average spent over MSRP: $7,470
Average transaction price: $40,860
3. Kia Forte: 22% Over MSRP
Price Range: $19,090 - $24,490
CR MPG: Overall 34 / City 22 / Hwy 49 mpg
Rated #12 of 12 Compact cars
Trim Example: 2022 Kia Forte LXS IVT
MSRP: $19,590
Average spent over MSRP: $4,260
Average transaction price: $23,850
4. Kia Rio: 21% Over MSRP
Price Range: $16,450 - $17,390
CR MPG: Overall 33 / City 22 / Hwy 48 mpg
Rated #4 of 6 Subcompact cars
Trim Example: 2022 Kia Rio LX Sedan IVT
MSRP: $16,450
Average spent over MSRP: $3,535
Average transaction price: $19,985
5. Kia EV6: 21% Over MSRP
Price Range: $41,400 - $56,400
CR MPG: Overall 105 / City 116 / Hwy 94 mpge
Rated #10 of 35 Luxury compact sport-utility vehicles
Trim Example: 2022 Kia EV6 Wind RWD
MSRP: $47,000
Average spent over MSRP: $9,944
Average transaction price: $56,944
6. Kia Sorento: 21% Over MSRP
Price Range: $29,590 - $48,090
CR MPG: Overall 25 / City 17 / Hwy 34 mpg
Rated #14 of 14 Midsized sport-utility vehicles 3-row
Trim Example: 2022 Kia Sorento Hybrid S AWD
MSRP: $35,890
Average spent over MSRP: $7,508
Average transaction price: $43,398
7. Kia Soul: 21% Over MSRP
Price Range: $19,290 - $27,890
CR MPG: Overall 28 / City 21 / Hwy 35 mpg
Rated #10 of 12 Compact cars
Trim Example: 2022 Kia Soul LX IVT
MSRP: $19,790
Average spent over MSRP: $4,096
Average transaction price: $23,886
8. Hyundai Santa Fe: 20% Over MSRP
Price Range: $27,200 - $46,010
CR MPG: Overall 30 / City 23 / Hwy 37 mpg
Rated #9 of 11 Midsized sport-utility vehicles
Trim Example: 2022 Hyundai Santa Fe Plug-In Hybrid Limited AWD
MSRP: $46,010
Average spent over MSRP: $9,395
Average transaction price: $55,405
9. Hyundai Veloster: 19% Over MSRP
Price Range: $32,500 - $34,000
Other data specs: Not listed
Trim Example: 2022 Hyundai Veloster N Manual
MSRP: $32,500
Average spent over MSRP: $6,279
Average transaction price: $38,779
10. Hyundai Accent: 19% Over MSRP
Price Range: $16,645 - $19,600
CR MPG: Overall 33 / City 22 / Hwy 47 mpg
Rated #2 of 6 Subcompact cars
Trim Example: 2022 Hyundai Accent SE
MSRP: $16,645
Average spent over MSRP: $3,206
Average transaction price: $19,851
And finally…
For additional Consumer Reports related articles about car shopping, here are three selected pieces that should prove to be informative while car shopping:
• Consumer Reports New Car Winners and Losers for This Important Safety Feature
• Consumer Reports New Listing of This Year’s Trucks Buyers Liked and Disliked After Buying
• Consumer Reports Recommends This Important Negotiation Point to Focus on When Buying a New Car
COMING UP NEXT: Important Toyota Tundra Recall Warning from Consumer Reports Could Save Your Child’s Life
Timothy Boyer is a Torque News automotive reporter based in Cincinnati. Experienced with early car restorations, he regularly restores older vehicles with engine modifications for improved performance. Follow Tim on Twitter at @TimBoyerWrites for daily new and used vehicle news.
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