Which Car Has the Highest Dealer Markup in New York?
A car dealership ripping you off? You don't say.
Everyone knows that visiting a car dealer is going to be a headache. And especially now, when car prices have skyrocketed due to a microchip shortage, car dealers know they have the upper hand.
Simply put, it's an extremely bad time to buy a car right now.
For car buying novices, you want to be aware of your desired vehicle's Manufacturer's Suggested Retail Price (MSRP). The MSRP is also known as the "list price" or "sticker price," and it's the price the auto manufacturer suggests the vehicle sell for at the dealership. But as anyone who's bought a car knows, this is usually not the price you pay. Rather, it's a starting point for negotiation.
Most car-buying guides recommend attempting to negotiate a price below the MSRP. This is because the dealership bought the car from the manufacturer for much less than that. Some auto manufacturers offer several thousand dollars' worth of rebates to the dealer if they sell a certain type of car. So, the MSRP is NOT what the dealer "needs" to make to net a profit. They'll still make their profit for selling below the MSRP.
But again, this is 2022, and the demand is outweighing the supply. Which, again, means that dealerships have the upper hand, and they can -- and are -- marking the price of their cars up significantly.
So which car currently has the highest markup in New York?
If you really want to buy a Jeep Wrangler in New York, you're going to pay on average of $8,870 more than the MSRP, which is a 27% markup. Jeeps account for the highest marked-up vehicle in 30 states. This data comes from an iSeeCars study of 1.2 million new car listings.
That's the kind of price hike that makes you go...
Here is the full list of highest marked-up vehicles in each state:
|The New Car Priced the Highest Over MSRP in Each State- iSeeCars|
|State||Vehicle||% Above MSRP||$ Above MSRP|
|Arkansas||Jeep Wrangler Unlimited||26.1%||$10,880|
|Hawaii||Jeep Wrangler Unlimited||26.9%||$10,391|
|Idaho||Jeep Wrangler Unlimited||27.3%||$11,248|
|Illinois||Lexus RX 450h||29.4%||$14,480|
|Iowa||Jeep Wrangler Unlimited||23.0%||$9,759|
|Mississippi||Jeep Wrangler Unlimited||26.1%||$10,746|
|Nevada||Jeep Wrangler Unlimited||27.8%||$11,859|
|New Hampshire||Jeep Wrangler||23.7%||$7,721|
|New Jersey||Ford Maverick||34.0%||$7,549|
|New Mexico||Jeep Wrangler Unlimited||28.0%||$11,420|
|New York||Jeep Wrangler||27.0%||$8,870|
|North Carolina||Jeep Wrangler||25.7%||$8,500|
|North Dakota||Jeep Wrangler Unlimited||20.2%||$8,954|
|Ohio||Lexus RX 450h||28.8%||$14,075|
|Rhode Island||Jeep Wrangler Unlimited||25.6%||$10,054|
|South Carolina||Jeep Wrangler||29.8%||$9,829|
|South Dakota||Jeep Gladiator||26.1%||$10,746|
|West Virginia||Ford Bronco||23.9%||$9,068|