We all know that depreciation is a big factor in deciding what car to buy, but many people forget about it when looking at safety and reliability ratings. It makes sense too- with Americans keeping their cars for longer periods now than ever before, you want something with good resale value!
Many individuals are not aware or do not put much thought into determining which new vehicle will hold its worth well over time. With interest rates so low right now though there's no reason why anyone should be buying any old junk just because they can get rid of it quickly instead of choosing quality products based on reviews, research, and a bit of investigation.
With its durability and resistance to corrosion, it seems that trucks are quite resistant to depreciation on the local market. The Toyota Tacoma pickup comes out top with an average loss of just 21%. In comparison, Ford's F series wipes 24% value off in 36 months!
In three years, the soon-to-be-replaced Ranger loses an average of 24,48%. Six out of ten vehicles with the strongest values are pickup trucks: Tesla Model 3 (24,79%), Toyota RAV4(25,97%) Mazda 3 (26,31% BMW X3 (27,02%).
Vehicles such as the Honda Pilot and Accord hold their value well, but several others depreciate at a mesmerizing rate. The worst of them all is Kia Sorento which despite being known for high-quality products with great reliability has seen its popularity decline over time due to this issue - it seems people can't stay afloat any longer than needed on dry land!
Sorento's average price of $13,831 means it offers incredible value on the secondhand market. While this will come as a blow for new car buyers who are looking at higher prices than ever before (55%) and an even lower resale ratio-- Chevrolet Trax clinching a silver medal isn't much surprising given its lack of luster competition in today’s world.
The Trax's resale value is surprisingly poor for such an affordable car. In just three years, 50% of its original cost will be gone! This could make it difficult if you plan on buying another one in the future or selling yours before then- so consider carefully before making any decisions about purchasing this model.
Mercedes-Benz's newest SUV, the GLE-Class has an unfortunate reputation for retaining little value after purchase. The luxury vehicle loses 48% of its cost in just three years! This means that if you paid $56,750 for one car - on average it'll be worth only 29,029 dollars by now (or about half). It doesn't seem too great when compared to other rivals such as BMW X5 which drops 39%, but still retains more than double what typical cars do (around 80%).
What's the worst car you can buy? Of course, it is not always about what type or model vehicle but rather its depreciation rate. The pillowy-smooth Lexus loses 44%. This means an average $18,158 loss within three years! Even worse are some other high stature vehicles such as Nissan Altimas which lose 43% on average - meaning someone who bought one would have spent nearly two-thirds (67%) more than they should've paid just because these cars had terrible write-offs in their lifetimes.
The Telluride has seen its fair share of pain since it was first built, with depreciation rates at 38.92%. But recently there's been some good news for this handsome SUV--the recent facelift given to the vehicle should boost its poor resale value!