SUPPLY shortages and factory shutdowns have caused car dealerships to raise their prices — and the crowdsourced website Markups.org keeps track of exactly how much these costs are rising.
Directors can use Markups.org’s transparency to better prepare for a sale, trade-in, or purchase in the near future.
Before you sign that financing deal or sell your ride, make sure the vehicle you’re considering or considering getting rid of is one of Markups.org’s top five overpaid drivers.
The vehicle with the fifth highest price increase is Kia’s 2022 Sorento SX SUV, which is an average of $10k more than the standard $41k retail cost.
The Sorento SX that advertised $10k above its original price is at Dan O’Brien Kia Norwood in Massachusetts, Car and driver reports.
Markups.org’s vehicle with the fourth-highest price tag is a 2022 Volkswagen ID.4 Pro S that is $72k — an asking price $10k above its suggested retail price.
The listing of the Volkswagen ID.4’s Ourisman in Rockville, Maryland doesn’t help electric cars shake their reputation for being expensive.
Crossing into $20,000 markup territory is a 2022 Ford Maverick Hybrid at Newberg Ford in Oregon, Car and Driver reports.
Newberg Ford’s advertised 2022 Ford Maverick is listed at $47k, although the truck’s MSRP is $27k.
Most new cars have 200 or less miles – but this 2022 Ford Maverick Hybrid has already registered 2k miles.
The most expensive price hike seen recently is a $73k markup on a 2022 Ford F-150 Lightning in North Carolina at Stearns Ford.
The Lightning F-150 is an electric pickup with a suggested retail price of $69k.