According to U.S. World & News Report, the following cars depreciate the least are pick-up trucks. Why? Well, first of all, the F-1 Series is the leading car make in America. Americans love pick-up trucks––especially those made by Toyota, Ford, Chevy, and Dodge. These cars have good resale values because they can be used for a wide variety of things, like construction, hauling cargo, and taking long trips.
U.S. World & News Report also says that some suburban utility vehicles (SUVs) also made their list, including the Toyota Tundra and Jeep Wrangler. The cars that depreciate the most, however, include luxury vehicles. This is because many of these cars are leased or simply don’t hold up over time.
Many people do not think of Toyota and equate the name with high-performing pick-up trucks. However, that could soon change. The Toyota Tacoma achieved a perfect reliability rating in 2015 and continues to receive accolades. You could see only a few thousand dollars in depreciation within the first five years.
Here are some other cars that maintain their values over time (and are less likely to be considered clunkers early):
The four-door Jeep Wranglers, over the course of their lifetimes, lose about 30.9 percent of their value over the first five years of ownership. Right now, with all the bells and whistles, you can buy a 2021 Jeep Wrangler for about $29,000.
Within the first five years, your car would lose about $12,000 in value. However, this largely depends on the market and where you live. Given that you could initially spend $29,000 on a new Jeep, selling it for $17,000 five years later isn’t too bad.
One of the biggest reasons why the Toyota Tundra got such high marks was mainly because people really stand by Toyota’s reliability. This is probably why the Toyota Corolla is the best-selling car of all time.
Even though the fuel economy left a lot to be desired, the Toyota Tundra depreciated about 37 percent within the first five years of ownership. To put this into perspective, a “top trim” Toyota Tundra sells for about $48,000. This means that after owning it for five years, you could turn around and sell it for $31,000.
GMC does not have a sparkling reputation. Consumer Reports frequently ranks GMC and Cadillac among its lowest-rated vehicles, and GMC frequently issues recalls because of powertrain issues. However, this does not appear to be a factor when it comes to its vehicles’ resale value.
The GMC Canyon only loses 41.2 percent of its value during the first five years of ownership. This is largely based on one thing: Americans love trucks. Also, this vehicle had a limited run, making people covet its limited models.
A top-of-the-line GMC Canyon can go for about $40,000. If you decide to sell it five years later, it will only lose $16,000 in value. You could recoup $24,000 of how much you spent.
If people still want a certain car, it will maintain its value. According to Kelley Blue Book, however, some of the following factors help a car desirable:
When people are shopping for new cars, the first thing they see is its exterior. If a scratch on the passenger doors can make a car depreciate hundreds of dollars. The reason why Ford pick-ups are able to “keep up appearances” is because people simply like the way they look. They are nearly synonymous with American craftsmanship and ingenuity.
The same with Jeep Wranglers. They have a very specific look. Although a few scratches, dings, and dents can bring down a car’s resale value, this does not deter many shoppers who are already loyal to the brand.
Ok, awesome. You saw a car you wanted, it’s at the right price, and now it’s time to take it for a test road. But when you open the door and look inside, it’s enough to send you running for the hills.
Kelley Blue Book says that the interior of a car speaks a thousand words. If the leather is peeling, it smells like cigarette smoke, or the dashboard is warped, this can significantly hurt your car’s resale value.
Some sports cars are able to maintain their values, but only because of supply and demand. The less of a good thing there is, the more people want it. This was especially true for the Porsche 911. Some of these top-of-the-line models sold for $200,000, and only depreciated by $56,000 over time.
Porsche was able to do this by keeping their inventories low. However, consumers were won over by its high reliability score and the low cost of maintenance.
One of the biggest Catch-22s about luxury vehicles and sports cars is that the cost of maintenance nearly rivals its down payment. The F1 Series, for instance, is renowned for having low lifetime maintenance. Ford perfected their formula early on, and it’s worked for them.
However, according to Consumer Reports, some cars that require a lot of maintenance over the course of their lifetimes include:
When shopping for a new car, you should always take into account depreciation value. A car’s not just a method of transportation; it’s also an investment. Whether you’re planning on driving your new car for a few months or a few years, it is always a good idea to do your research first.
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