Which Cars Are Known for Holding Their Overall Value
When seriously considering purchasing a vehicle, there are a lot more factors to consider than just the model, make and color that you want. What drives the automotive industry is value.
It’s a good idea to consider depreciation when shopping a used car dealership for a pre-owned vehicle. Most Americans want a car that is going to last and hold its value. The pursuit of long-lasting value has resulted in a shift towards reliability in the auto industry in recent years.
iSeeCars.com regularly tracks vehicle resales to determine which best retain their value. Sports utility vehicles and trucks are currently holding their value best. That’s not a huge surprise considering big trucks and SUVs have long been associated with the American way of life. Many drivers have traded in their four-door sedans for midsize and large SUVs.
The main type of vehicle missing from most of the top 10 lowest depreciation lists are hybrid vehicles and electric vehicles. The good news for used car shoppers is you can buy reliable hybrid vehicles and electric vehicles like the Toyota Prius (52.5 percent depreciation over five years) or the Nissan Leaf (70.1 percent depreciation over five years) for a fraction of what it cost new just five years earlier.
The most valued vehicles depreciate the slowest, on average between 19 and 40 percent over a five-year period. Current models that retain the most value include the Jeep Wrangler and Jeep Wrangler Unlimited.
Wranglers are known for their durable exteriors and are made for an active and adventurous lifestyle. They have a lifespan of over 10 years, which is an additional attractive incentive to vehicle owners.
A Jeep’s diverse functionality, including their ability to go off road, tow and get you to work, makes them a desired vehicle that holds their overall value.
A well-known brand for reliability and long-lasting value is Toyota. Three Toyota models are frequently on the top ten list for lowest depreciation: Tundra, Four Runner and Tacoma.
The Toyota Tacoma depreciates at about 32 percent on average over the course of five years. The Toyota Tundra and Four Runner range between 35 and 37 percent.
These Toyota models last owners for years and have a great resale value. Toyota has some of the longest-lasting cars on the market and a good reputation for reliability. The brand tends to focus on function and safety, making them valuable investments.
Another brand that is known to hold its value is Honda. Honda ranks at a 4.0 out of a 5.0 on the reliability scale. Their vehicles tend to have great gas mileage in addition to their longevity.
The Honda Fit and Honda Civic made last year’s list for top vehicle models under $25,000 with the lowest depreciation on AutoGuide.com and iSeeCars.com.
The Honda Ridgeline also retains more than 50 percent of its value over five years. Other models by Honda that have become popular for their reliability and long-lasting value are the Honda Odyssey and Accord.
GMC and Chevrolet
Two makes that hold their value in the premium truck sector are GMC and Chevrolet. The GMC Sierra and Canyon models have a depreciation of 46.1 and 41.2 percent. The Chevrolet Silverado comes in at 45 percent.
These trucks are known to be large and luxurious on the inside and tough and sturdy on the outside. For vehicle owners looking for something that seamlessly combines work, play and comfort, these trucks are impressive for their value.
One of the few sports car manufacturers that makes the list; Porsche – especially the Porsche 911 – excels at defending its title as a luxury, performance and durability leader. While Porsche has a higher price point than most vehicles, it excels at holding its value for vehicle owners, with an average depreciation rate of about 36 percent over five years.
The Porsche 911 is one of the only cars of its class on the current top 10 vehicles with lowest depreciation. There are several Porsche models that are good at holding their value, from the four-door crossover to the two-door coupe.
If you are looking for something to splurge a little more on, Porsche is a top-of-line investment.
The other sports car that has made it on the top 10 list of vehicles with the lowest depreciation is the Subaru WRX. The WRX boasts a depreciation value slightly less than 40 percent. Subaru’s are unique for being a sports car and a sedan all in one.
The Subaru WRX proves there is value in space and speed. They are also durable and reliable, like most other Japanese models.
Find an Affordable Used Vehicle Near You in Maryland
The vehicle you choose to purchase really depends on what is most important to you. Whether it is reliability and durability or size and model, getting the most out of a dollar well spent is often the top priority for shoppers in the automotive resale market.
Even the best new vehicle depreciates at least 30 percent over its first five years on the road. At the end of that five years, it may still be in like-new condition with a hundred-thousand-plus miles to go. In nearly every scenario you’ll maximize the value of your automotive purchase by buying a preowned vehicle rather than new.
At Eastern Automotive, we offer a range of these models on our Maryland and Virginia lots for vehicle purchasers looking for the best value. Come check out our inventory, visit us online or call us at (877) 867-3612 to ask about our selection.
We also offer great trade-in deals and are committed to paying fair valuations to local Baltimore and Washington DC car sellers.