By Tyler Durden

It’s been no secret that the price of used cars continues to rocket higher, as we have been writing about for months.

This week, the Wall Street Journal released a list of the Top 10 vehicles that were at the tip of the spear of the rising prices. Leading the charge was the unlikely Dodge Caravan, followed by the Nissan Versa and Toyota Prius.

While not aesthetically pleasing, the top three cars on the list are notably utilitarian: the Caravan can seat many passengers, the Versa has trunk space and the Prius gets great gas milage, as a hybrid. This could be a clue that new drivers are worried more about function over form.

And, with YOY increases of 69%, 66% and 61%, respectively, it looks like they’re willing to pay for function. Ivan Drury, senior insights manager for Edmunds, told the Journal that “bargain hunters are seeking the most affordable options, rather than looking for the newest or flashiest car.”

Dodge Grand Caravan
Nissan Versa
Toyota Prius
Kia Forte'
Volvo S60

Chevy Sonic
Mazda 3
Audi A6
BMW i3
Kia Rio

Over the last year, the used car market boomed because of a chip shortage for new vehicles. The latest data from Manheim shows that even though prices increased for January, momentum could be stalling (and, in fact reversing). The Manheim Used Vehicle Value Index expanded slightly to 236.3 last month, up 45% from a year ago. The non-adjusted price change declined about a percent compared to December, leaving the unadjusted average price up 40.8% year-over-year.