No Savings Here
New cars lose value right after they’re driven off the lot, making buying used a wise choice in the eyes of most personal-finance gurus. But the pandemic has upended its fair share of conventional wisdom, and lingering supply issues mean used cars are selling for more — and in some cases, more than their new counterparts. The problem shows little sign of abating, too: GM is even shutting down most North American plants for part of September because of chip shortages. So which used models may not provide the usual budgetary boost? An iSeeCars analysis of sales data from the first half of June found that in 16 cases, lightly used cars from model years 2019-2020 sold for more than their brand-new versions.