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 reported the worst deals on new cars right now.
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Cars with Prices Running Well Above Their MSRP
Earlier we found out that there are some very attractive incentive deals for specific models of SUVs being offered by dealers today that are in effect until July 5 this year.
Unfortunately, however, many other models including some SUV models, as well as sedans and compact cars are going way over their MSRP. How much more? In some cases as much as 23% above the MSRP!
To help consumers streamline their new car search by avoiding looking at cars and SUVs that are selling the most over the sticker price, Consumer Reports analysts have put together a new updated listing based on sticker price data from TrueCar.
What consumers will discover is that once again automakers Hyundai and Kia are dominating these listed prices offered by dealerships starting with the Kia Telluride hitting a new high, selling for 23% over MSRP.
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 Telluride: 23% Over MSRP
Price Range: $33,090 - $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 EX AWD
MSRP: $40,390
Average spent over MSRP: $9,187
Average transaction price: $49,577
2. Kia Soul: 22% 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: $19,290
Average spent over MSRP: $4,317
Average transaction price: $23,607
3. Kia Sorento: 22% 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 FWD
MSRP: $34,090
Average spent over MSRP: $7,475
Average transaction price: $41,565
4. Kia Seltos: 21% 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: $4,841
Average transaction price: $27,431
5. Kia Niro: 20% 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 LXS
MSRP: $26,090
Average spent over MSRP: $5,283
Average transaction price: $31,373
6. Hyundai Kona Electric: 19% Over MSRP
Price Range: $34,000 - $42,500
CR MPG: Overall 120 / City 132 / Hwy 108 mpge
Rated #8 of 45 Electric vehicles
Trim Example: 2022 Hyundai Kona Electric SEL
MSRP: $34,000
Average spent over MSRP: $6,604
Average transaction price: $40,604
7. Kia K5: 19% 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: $5,042
Average transaction price: $31,232
8. Kia Rio: 19% Over MSRP
Price Range: $16,250 - $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: $3,277
Average transaction price: $20,367
9. Hyundai Venue: 19% Over MSRP
Price Range: $19,000 - $22,250
CR MPG: Overall 32 / City 23 / Hwy 41 mpg
Rated #3 of 6 Subcompact cars
Trim Example: 2022 Hyundai Venue SE IVT
MSRP: $19,000
Average spent over MSRP: $3,625
Average transaction price: $22,625
10. Kia Forte: 19% 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: $3,666
Average transaction price: $23,256
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: 10 Real Ways to Really Save Gas and Money
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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