Looking to buy a new car, but not sure which deals are good, and which are bad? Here’s a recent list from Consumer Reports analysts who found that these two popular makes clearly dominated their findings of the worst deals on new cars right now.
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Cars with Prices Running Well Above their MSRP
Are you willing to pay as much as a little over $10,000 above the MSRP for a new car? Hopefully not. However, some popular makes and models are now running well above their recommended MSRP pricing that can really take the joy out of buying a new car.
In fact, according to a recent Consumer Reports newsletter, “…the average price for new cars has climbed nearly $4,712 in the past year, reaching $48,301 in August 2022.”
Those rising prices have prompted CR analysts to take an updated look at which cars, minivans, and SUVs are selling the most over their sticker price. What they found was that automakers Kia and Hyundai are listing their more popular models anywhere from 18% to 23% above MSRP. To help car shoppers identify those models and what to expect, examples of models with specific trims reveal just what you can expect if you are determined to own one of their listed “Worst Deals on New Cars” models.
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.
Related article: New Car MSRP Window Sticker Scam Car Buyers Need to Understand
WORST DEALS RIGHT NOW
1. 2022 Kia Sorento (23% Over MSRP)
Price Range: $29,590 - $48,090
CR MPG: Overall 28 / City 22 / Hwy 34 mpg
Rated #17 of 14 Midsized sport-utility vehicles 3-row
Trim Example: 2022 Kia Sorento Hybrid EX FWD
MSRP: $36,090
Average spent over MSRP: $8,388
Average transaction price: $44,478
2. 2022 Kia EV6 (21% Over MSRP)
Price Range: $41,400 - $56,400
CR MPGE: Overall 105 / City 116 / Hwy 94 mpge
Rated #10 of 35 Luxury compact sport-utility vehicles
Trim Example: 2022 Kia EV6 GT-Line RWD
MSRP: $51,700
Average spent over MSRP: $10,925
Average transaction price: $62,625
3. 2022 Kia K5 (21% Over MSRP)
Price Range: $23,790 - $31,190
CR MPG: Overall 32 / City 20 / Hwy 52 mpg
Rated #6 of 9 Midsized cars
Trim Example: 2022 Kia K5 GT-Line FWD
MSRP: $26,190
Average spent over MSRP: $5,389
Average transaction price: $31,579
4. 2022 Kia Telluride (21% 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 SX AWD
MSRP: $45,190
Average spent over MSRP: $9,283
Average transaction price: $54,473
5. 2022 Kia Rio (20% 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 S Sedan IVT
MSRP: $17,090
Average spent over MSRP: $3,433
Average transaction price: $20,523
6. 2022 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: $3,180
Average transaction price: $19,825
7. 2023 Kia Sportage (19% Over MSRP)
Price Range: $25,990 - $42,990
CR MPG: Overall 25 / City 17 / Hwy 34 mpg
Rated #10 of 24 Compact sport-utility vehicles
Trim Example: 2023 Kia Sportage LX FWD
MSRP: $25,990
Average spent over MSRP: $4,946
Average transaction price: $30,936
8. 2022 Kia Seltos (19% Over MSRP)
Price Range: $22,590 - $28,090
CR MPG: Overall 28 / City 20 / Hwy 35 mpg
Rated #12 of 15 Subcompact sport-utility vehicles
Trim Example: 2023 Kia Seltos S 2.0 AWD
MSRP: $24,390
Average spent over MSRP: $4,576
Average transaction price: $28,966
9. 2022 Kia Forte (19% Over MSRP)
Price Range: $19,090 - $24,490
CR MPG: Overall 34 / City 22 / Hwy 49 mpg
Rated #14 of 12 Compact cars
Trim Example: 2022 Kia Forte LXS
MSRP: $19,590
Average spent over MSRP: $3,649
Average transaction price: $23,239
10. 2022 Hyundai Kona (18% Over MSRP)
Price Range: $21,300 - $42,500
CR MPG: Overall 26 / City 18 / Hwy 34 mpg
Rated #7 of 15 Subcompact sport-utility vehicles
Trim Example: 2022 Hyundai Kona SE AWD Automatic
MSRP: $22,800
Average spent over MSRP: $4,149
Average transaction price: $26,949
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: Most Discounted New Car Deals Right Now
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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