Looking to buy a new car, but not sure which deals are good, and which are bad? Here’s a new list from Consumer Reports analysts who recently reported the worst deals on new cars right now with some models as high as 24% 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 24% above the MSRP according to a recent Consumer Reports analysis of car makes and models that are gouging car shoppers.
Fortunately, however, the majority of those bad deals for consumers are found to be limited to just three makes with one having more than the lion’s share of over-pricing notoriety---Kia!
And while Kia does make some very nice models that are attractive and reliable, smart car shoppers need to consider whether it’s really “…worth the extra money for your dream vehicle, even if it means greater depreciation over time. For other vehicles, it may be better to seek a suitable, more plentiful alternative,” say CR analysts as part of their advice with this recent update on the worst new car deals out there right now.
To help consumers be prepared and streamline their new car search by avoiding looking at cars and SUVs that are selling the most over the sticker price, CR analysts have put together a new list of 10 cars and SUVs that are selling the most over the sticker price beginning with specific trims as examples of what to expect at dealerships today
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 ON NEW CARS RIGHT NOW
1. Kia Sorento: 24% Over MSRP
Price Range: $29,590 - $48,090
CR MPG: Overall 28 / City 22 / Hwy 34 mpg
Rated #14 of 14 Midsized sport-utility vehicles 3-row
Trim Example: 2022 Kia Sorento Hybrid EX FWD
MSRP: $36,090
Average spent over MSRP: $8,585
Average transaction price: $44,675
2. Kia Seltos: 22% 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: $4,992
Average transaction price: $27,582
3. 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 S FWD
MSRP: $35,890
Average spent over MSRP: $7,922
Average transaction price: $43,812
4. Kia Soul: 21% Over MSRP
Price Range: $19,790 - $24,090
CR MPG: Overall 28 / City 21 / Hwy 35 mpg
Rated #10 of 12 Compact cars
Trim Example: 2023 Kia Soul LX IVT
MSRP: $19,790
Average spent over MSRP: $4,204
Average transaction price: $23,994
5. Kia Niro: 21% Over MSRP
Price Range: $24,690 - $44,650
CR MPG: Overall 43 / City 33 / Hwy 52 mpg
Rated #7 of 8 Compact cars
Trim Example: 2022 Kia Niro Hybrid Touring SE
MSRP: $29,890
Average spent over MSRP: $6,262
Average transaction price: $36,152
6. Kia EV6: 20% 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 Light RWD
MSRP: $41,400
Average spent over MSRP: $8,406
Average transaction price: $49,806
7. Kia Sportage: 20% Over MSRP
Price Range: $25,990 - $42,990
CR MPG: Overall 25 / City 17 / Hwy 34 mpg
Rates #9 of 22 Compact sport-utility vehicles
Trim Example: 2023 Kia Sportage LX FWD
MSRP: $25,990
Average spent over MSRP: $5,248
Average transaction price: $31,238
8. Kia K5: 20% Over MSRP
Price Range: $23,790 - $31,190
CR MPG: Overall 32 / City 20 / Hwy 52 mpg
Rated #5 of 9 Midsized cars
Trim Example: 2022 Kia K5 GT-Line FWD
MSRP: $26,190
Average spent over MSRP: $5,166
Average transaction price: $31,356
9. Nissan Kicks: 18% Over MSRP
Price Range: $19,990 - $22,550
CR MPG: Overall 32 / City 24 / Hwy 40 mpg
Rated #8 of 12 Compact cars
Trim Example: 2022 Nissan Kicks S
MSRP: $19,990
Average spent over MSRP: $3,646
Average transaction price: $23,636
10. Mitsubishi Mirage: 18% Over MSRP
Price Range: $14,645 - $18,695
CR MPG: Overall 37 / City 28 / Hwy 47 mpg
Rated #6 of 6 Subcompact cars
Trim Example: 2022 Mitsubishi Mirage SE CVT
MSRP: $17,895
Average spent over MSRP: $3,239
Average transaction price: $21,134
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 Most Satisfying 10-Year-Old Sedans with Reliability and Fuel Efficiency
• New Hybrids That Will Save You the Most Money on Gas
• Consumer Reports Best Midsized SUVs Under $35,000 That Come Standard with Active Safety Systems
COMING UP NEXT: Toyota Tacoma Common Problems to Watch Out For Explained by This Toyota Expert
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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