Supply chain issues, inflation, and high gas prices are an expensive hassle for everyone but maybe more so for car dealers than most.

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A new study shows the surging demand for used vehicles has sent prices soaring,   especially in Washington state where used car prices have increased 34% from March 2021 to 2022.

  • Connecticut (35%), Washington (34%) and California (33%) saw the largest increases in used car prices from a year earlier in March. Wyoming saw the smallest increase at 19%.

How Bad Is It

It's upside-down considering six of the 10 best-selling vehicles in America cost more used than new!

  • The pandemic-driven disruption to vehicle production, including the chip shortage, has resulted in long wait times for new cars, forcing many consumers to the used car market.
  • Lightly used 2021 models of the Toyota RAV4, Honda CR-V, Toyota Highlander, Honda Civic, Toyota Camry and Nissan Rogue are more expensive than the sticker prices of their 2022 counterparts.

  • The study also found that two electric vehicles were selling for more used than new: the Volkswagen ID.4 and the Tesla 3

The Difference is $ignificant

The value of a new car previously fell by thousands of dollars as soon as you drove it off the dealer’s lot. The pandemic has changed that for many models. Recent data analysis by Jerry found that the 2021 models of the Toyota RAV4 ( $6,000 more), Honda CR-V ($5,000 more), Toyota Highlander ($3,500 more), Honda Civic ($1,700 more), Toyota Camry ($2,400 more), and Nissan Rogue ($4,000 more) are all selling for more than the list prices on new models.

Bottom line

The chip shortage and other supply chain problems have pushed used car prices to an all-time high, so shop with care with a dealer you trust.  I personally endorse Bill Harris Used Cars in Selah.

LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

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