Car makers commonly bump prices due to additions or enhancements with each new model year. However, when price tags substantially increase, buyers opt for cheaper used vehicles that fit their budget. When there is increased demand for used vehicles, used car dealers take note and increase their prices to maximize profits. Current trends in the automotive industry show that used car prices are rising steadily. Here are some used cars with rapidly increasing prices.
Toyota Tacoma
It’s not uncommon to get a used, low-mileage 2022 Toyota Tacoma TRD Off-Road for as much as $46,998, more than it costs to buy a new 2024 Tacoma TRD Off-Road. The Toyota Tacoma midsize pickup truck is known for its off-road capability, durability, and solid reliability, which holds its value well. Also worth noting is that many Tacoma diehards do not favor the hybrid engines in current generation models. They prefer a used Tacoma with a tried-and-true, naturally aspirated engine.
Hyundai Sonata
According to an iSeeCars study, the Hyundai Sonata’s value in the US used car market has increased 484.3% since 2014. Today, a 10-year-old Hyundai Sonata costs $8,312, about twice as much as it would have cost ten years ago. The Hyundai Sonata is a high-quality midsize sedan loved for its long list of desirable standard features, impressive build quality, and compelling performance.
Mazda MX-5 Miata
Mazda has maintained its formula for the Mazda MX-5 Miata, keeping it an agile, lightweight, front-engine/rear-wheel-drive sports car with a punchy, naturally aspirated 4-cylinder gas engine. A cheaper, third-generation 2015 Mazda Miata is almost as fast as current-generation models, so Miata lovers who can’t afford new models are opting for older models. As a result, there has been a higher demand for older MX-5 Miata cars, causing an upsurge in price.
Honda Civic
Used Honda Civics are increasing in value, partly because many aspiring buyers prefer previous-generation models with bolder styling. 2020 Honda Civics are available for $18,000 to $22,000, making them slightly cheaper than new models. The Honda Civic retains roughly 60% of its value after five years.
Honda Odyssey
The current Honda Odyssey generation is in its seventh year of production, with 2024 models starting at $41,920. Aspiring Honda Odyssey owners who can’t afford the price tag for new models are opting for earlier model years, causing their prices to spike. The 2018 Honda Odyssey can cost anywhere from $16,875 to $22,950, which is higher than what a 7-year-old Odyssey cost a few years back.
Porsche 930
While in production (between 1975 and 1989), the Porsche 930 was the fastest production car in Porsche’s lineup. The iconic two-seater sports car retailed for just $37,000 in the ‘80s but is much more expensive now, thanks to an increased demand among car collectors. Today, a clean model can cost over $130,000.
Lotus Elise Series 1
The 1996-2001 Lotus Elise S1 is an iconic sports car rapidly increasing in value. Its small 1.8L engine creates 118hp, but it weighs just 1,598 pounds. As a result, it can sprint from zero to 60 mph in 5.8 seconds. Initially priced at £22,650 – £26,590 ($29,720 – $34,890), it goes for $24,000 to $35,000 today, with the price expected to increase over the coming years.
Ferrari 250 GTO
Produced between 1963 and 1964, the Ferrari 250 GTO sports car was designed to homologize into the Group 3 Grand Touring Car racing category. Only 36 units were made, and its Ferrari 2,953 cc V12 Colombo racing engine has two valves per cylinder and six Weber 38 DCN carburetors. It’s an exceptional car, announced as the world’s most expensive car when it sold for $70 million in 2018.
Peugeot 205 GTI
The Peugeot 205 GTI is often named one of the best hot hatches of all time. It dominated the 1980s, originally featuring a 104hp 1.6-liter engine before switching to a 126hp 1.9-liter engine. When first released, the 205 GTI sold for just £6,245 ($8,194). Today, you can get one for approximately $20,000, with no sign of its price decreasing in the near future.
2008-2015 Audi R8 (Manual)
The R8 is Audi’s long-celebrated two-seater, mid-engine sports coupe. Production was discontinued in early 2024, but demand is rising because those who have always wanted an R8 are chasing the available models. The manual first-generation R8 (2008-2015) is among the most desired models as Audi stopped offering the R8 as a 6-speed manual in 2015, causing its price to continually increase over the coming years.
Lamborghini Murciélago
The Lamborghini Murciélago succeeded the Diablo as Lamborghini’s flagship V12-powered supercar. Named after a famous Spanish bull, it’s wild and almost untameable. With the curtains closing for V12-powered supercars, the Murciélago has become a highly sought-after collector’s item, with Lamborghini producing only 186 units. Today, this supercar costs between $185,000 and $469,000.
Mercedes-Benz SLR McLaren
The Mercedes-Benz SLR McLaren supercar was jointly developed by McLaren Automotive and Mercedes-Benz, drawing substantially from the Formula One teams of both brands. The Mercedes-Benz 300SLR of the ‘50s inspired it. When it was new, it cost up to $495,000 at the dealership, but today, it costs up to $779,721.
Nissan 350Z Nismo
The Nissan 350Z Nismo sports car was Hagerty’s 2023 Bull Market Pick, a top pick among collector cars rising in value at the time. It features a 306hp V6 engine and track-specific equipment like a front spoiler, rear wing, Brembo brakes, forged alloy wheels, and a NISMO-tuned suspension system. One thousand six hundred seven units were made. A good-quality, low-mileage example can cost between $37,500 and $44,900.
Toyota Supra Mk4 Turbo
The Toyota Supra Mk4 Turbo is a popular choice among enthusiasts looking for sports cars they can tune. Its twin-turbocharged Toyota 2JZ-GTE engine is powerful and can be tuned to deliver over 750 horsepower. For this reason, the Supra Mk4 Turbo is a highly sought-after model with a steadily increasing price.
Honda Integra R
The Honda Integra R set a performance standard never before achieved by prior Honda performance models. It has an 189hp 1.8-liter VTEC engine that revs to 8,700 rpm, a seamless 5-speed manual gearbox, and razor-sharp handling. Like the Toyota Supra, its engine is strong enough to handle serious tuning, so its price is steadily rising. Last year, a clean, low-mileage model stole the show at the Amelia Island Auctions when it was sold for $151,200.
Shop Smart
These are just a few cars that are rapidly increasing in value. Many of them are worthwhile investment opportunities as you can buy and sell them a few years down the road. If you are in the market for a used car, buy one that holds its value well, like the above examples. When the time comes for you to replace it, you won’t struggle to sell it. You may even get back all the money you used to purchase it and more.
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Mark Muhoro is a car enthusiast and writer who loves everything about automobiles. With over 11 years of experience in the automotive industry, Mark has become an expert in how cars work and what makes them special. He writes clear and interesting articles about cars for magazines and websites, making valuable contributions to renowned platforms like Vroom Magazine, Internet Brands, and Contentmotive.
