Looking for a new car? Well, unless you need one, now is probably not a great time to make such a big purchase. According to the research team at
iSeeCars.com, the average price of a new car in February 2023 was 8.8 percent higher than the manufacturer’s suggested retail price, or MSRP. Yikes.
Still, this figure is a good way off from the 10.2 percent average price premium dealers were asking for new cars in July 2022.
“The consistent trend of dealer asking prices getting closer to MSRP is slowly closing the gap between them,” noted Karl Brauer, executive analyst at iSeeCars.com.
While the narrowing of this gap seems to indicate the marketplace for new cars is cooling, it’ll still likely be many months before iSeeCars.com is able to report that the average selling price of a new car equals, or even undercuts, its MSRP. That said, if you can’t wait to purchase a new car, then the data indicates that you’re better off avoiding these 10 vehicles that had the largest deltas between their average asking price and their MSRPs in February 2023.
