Automotive Dealers Are Fleecing Buyers For Hundreds Over MSRP

2021 has not been the time to purchase a new vehicle. Not only does the chip shortage mean there are fewer options available in most areas, but most dealerships are also padding their pocketbooks by adding money on top of the MSRP for many new vehicles. Kelley Blue Book has published new research that shows most new vehicle buyers are being forced to pay over MSRP.

The average price paid for a non-luxury vehicle in November 2021 was $43,144. More disturbing was that the average vehicle buyer paid more than $900 over the MSRP during the last six months.

The average price of a luxury car sold in November 2021 was $61,455. That amount included a record-setting sum of almost $1000 over sticker price on average. If you need any more proof that dealers are price gouging car shoppers during the pandemic, the average price for luxury vehicles one year ago was $3000 under MSRP.

Adding to the challenges of purchasing a new or used vehicle is that used-car prices have soared. Many used cars that are multiple years old and have tens of thousands of miles on them are selling for almost what they went for brand-new.