The 10 Cars That Appreciated The Most in 2021
Source: Pixabay
It’s no secret that we’re in the middle of a topsy-turvy car market. Supply chain issues resulting from the global pandemic have squeezed new car availability. This, in turn, has applied pressure on buyers and sellers of second-hand vehicles. Used cars are selling for record prices. According to iSeeCars, the average list price for a used vehicle in March 2022 increased by 30.4 percent from the same time last year. Along the way, prices on some used autos have rocketed above this average. Let’s explore the top cars that appreciated in 2021.
We’ll look at the average used car price from March 2022 for each model and how this amount compares to the previous March. Think of these numbers as good news, bad news. It’s great if you’re selling one of these cars but not so much if your shopping list includes these models.
Hyundai Sonata Hybrid
Average: $25,620
$ Increase: $9,991
% Increase: 63.9%
Adding more complexity to car supply challenges is record-setting costs for fuel. Historically, when the price at the pump increases significantly, certain car owners (usually high-mileage drivers) seek out more gas-friendly transportation. Nothing is changing this time around; fuel-sipping cars like the Sonata Hybrid are in high demand.
For instance, the 2020 model is EPA rated for a combined 47 mpg. Someone who drives 15,000 miles a year with a car that gets 25 mpg will pay $2,700 a year for gas costs (based on $4.50 per gallon). Switching to this Hyundai drops the refueling bill to $1,436 (about $120 a month).
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Kia Rio
Average: $17,970
$ Increase: $5,942
% Increase: 49.4%
The tight market has caused prices on inexpensive cars like the Kia Rio to skyrocket. It’s a solid car, but the Rio focuses on providing basic transportation, not an upscale ride. Before the current turmoil, the average price (about $18,000) for a used Rio would have gotten you a late-model Honda Accord or Toyota Camry.
Another interesting twist is the base price for a new 2022 Kia Rio sedan is $17,305. Yes, a new Rio theoretically costs less than a used one. But, you have to be able to find a Rio at the sticker price as many dealers are marking up the MSRP by thousands. A second-hand Rio is undoubtedly among the car that appreciated in 2021.
Nissan LEAF
Average: $25,123
$ Increase: $8,288
% Increase: 49.2%
It wasn’t too long ago that buyers looking for a cheap car for local driving could find a bargain with a used all-electric Nissan LEAF. At one point, the depreciation on LEAFs was staggering and far worse than that of a typical used car. That’s all changed.
The spike in gas prices has pushed some shoppers into going the EV route leaving the LEAF one of the few electric options among used cars. Debuting for the 2011 model year, the LEAF was the first mass-market EV in the U.S. So, these Nissan used to litter deal lots; it’s less so these days.
Chevrolet Spark
Average: $17,039
$ Increase: $5,526
% Increase: 48.0%
The Chevy Spark gets lumped in with the Kia Rio and Mitsubishi Mirage (covered below) as a functional set of four wheels and not much more. This made-in-Korea Chevy is focused on getting occupants from point A to B. And that’s OK because the car was never designed to be more. But real-world pricing has pushed this subcompact hatchback into a cost realm once occupied by larger and better-equipped options.
Mercedes-Benz G-Class
Average: $220,846
$ Increase: $71,586
% Increase: 48.0%
The Mercedes G-Class stands out for two reasons besides monstrous appreciation: its price tag and gas-guzzling ways. So, it’s safe to say that not everyone shopping for a used vehicle is concerned with their wallet or saving gas. And a $132,000 starting price for a new “G-Wagon” means that high rollers can’t find what they want in the new car department at their local Mercedes dealer. For the record, a base-model 2021 G-Class is rated for 17 mpg in the city and 19 mpg on the highway.
THE BEST USED SUVS UNDER $10,000
We looked into price, reliability, features, and more to create this list of the best used SUVs under $10k on the market today. Take a look - some of the best used SUVs have gone mostly overlooked or forgotten.
Toyota Prius
Average: $26,606
$ Increase: $8,269
% Increase: 45.1%
It’s no surprise that the Toyota Prius is on a list of leading cars that appreciated in 2021. It ticks a lot of boxes for the savvy shopper. To begin with, the Prius is the car that helped make hybrid vehicles mainstream. And stellar fuel economy is especially appealing during times of high oil prices. For example, the 2020 Prius in Eco trim is rated for a remarkable 58 mpg in the city. Plus, the Prius’ hatchback versatility allows some buyers to skip a more expensive and gas-hungry SUV. Some models are even equipped with all-wheel drive.
Kia Forte
Average: $20,010
$ Increase: $6,193
% Increase: 44.8%
The Forte joins a cadre of Kias on our list of top cars that appreciated in 2021. And it’s a notch above the Rio in the automaker’s sedan pecking order. So a buyer wanting the Kia brand but seeking more than the Rio will steer towards the larger and better-equipped Forte. Another incentive is Kia’s transferable 5-year/60,000-mile bumper-to-bumper and 10-year/100,000-mile powertrain warranties.
Kia Soul
Average: $20,169
$ Increase: $6,107
% Increase: 43.4%
The Kia Soul stands out from others here as the only wagon. Depending on your definition, you might be able to call it a crossover. But, regardless of labels, the front-drive-only Soul offers seating for five and a lift-up rear door. The fuel economy is so-so (up to 35 on the highway), which can be a trade-off for cargo space versatility.
Tesla Model S
Average: $75,475
$ Increase: $22,612
% Increase: 42.8%
The decade-old Model S is the most senior member in the Tesla lineup. But, age hasn’t dampened the enthusiasm for this breakthrough EV that helped usher in the car industry’s new era. But there’s another factor at play here; a wait of up to a year for a new Tesla. The red-hot demand for new Teslas and shortage of critical components has caused impatient buyers to shift to pre-owned options.
THE BEST USED LUXURY CARS ON THE MARKET
Buying a used or CPO luxury car is one of the smartest buys you can make - you can get a lot of car for not much money. You can pick up a three-year-old luxury car for about half of what you’d pay new. Check out this list of the best used luxury cars on the market to find the best deals.
Mitsubishi Mirage
Average: $14,838
$ Increase: $4,431
% Increase: 42.6%
With a $15,690 starting price for a 2022 model, the Mitsubishi Mirage is among the cheapest new cars you can buy. But like with other basic vehicles (such as the Chevy Spark), you have to be able to find one and hope there’s no dealer markup beyond the sticker price. Absent this, budget-minded car shoppers will turn to newer economy cars like a used Mirage. Its three-cylinder powerplant won’t win any races, but the engine will help you get to where you need to be. The Mirage rounds out the top ten cars that appreciated in 2021.
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