After years of increases, used car prices have somewhat stabilized, but don’t expect them to drop to pre-pandemic levels. That’s why it is more important than ever to get the best for your money, so before deciding to upgrade, you need to gather all the information necessary to make the smartest choice. Here’s what you need to know about used cars, whether you’re a seller or a buyer.
What determines the resale value?
Some cars still hold up to their initial prices even a couple of years after they were bought. That’s thanks to two key ingredients: reliability and performance. Another thing to consider is the brand’s reputation, which often reflects the cars’ durability and hard-earned trust.
Why does resale value matter?
High resale value affects your ability to get a good return on the car you bought if you choose to sell it at any time. Of course, factors like maintenance, age, mileage, and demand also play a vital part in pre-owned cars’ value. Vehicles with high resale values, meaning they satisfy these criteria, are cost-effective over time.
Which ones made the cut?
Buying a car is an investment. That’s why choosing a vehicle with a high resale value is significant. Similarly, if you’re thinking of selling your vehicle, you will have a better chance of scoring a good deal if a specific brand and type were considered to offer value for the money.
Porsche 718 Boxter
A Porsche 718 Boxster will depreciate over 25%. This extravagant vehicle is made for thrill seekers and is significantly quieter than similar cars. It is considered one of Porche’s prominent luxe supercars, which makes its resale value much more attractive to potential buyers.
Ford Mustang
Mustang tends to have good resale value and has been among the top 25 percent of most popular vehicles in the US and the rest of the world. The maintenance is just above the average, but it is considered among the most useable sporty cars. With the life expectancy in the upper limits, this is a good investment.
Toyota 4Runner
The Toyota 4Runner ranks high in resale value since this SUV relies on durability and reliability. Overall, Toyota has the best value for the money when it comes to pre-used cars. For the Toyota 4Runner, you can expect to make it up to 300,000 miles with meticulous care, so it could last a decade for those who take proper care of the SUV.
Chevrolet Colorado
The Chevrolet Colorado midsize pickup has an exceptional resale value. The price dropped just over 17 percent five years after it was bought. It is a larger vehicle that is easy to maneuver and could be a great deal if you’re looking for a more slick-looking truck alternative.
Porsche 911
Porsche 911 owners can expect their cars to lose only 9.3% of their original value after a five-year devaluation. It is a well-known car that perfectly combines performance with style and continues outshining other vehicles from the same class with its value. Turbo S, GT2 RS, and Carrera T Coupe are the most reliable models.
Lexus RX
Lexus RX is a stylish luxury ride that continues to surprise car lovers with its high resale value. This luxury vehicle invariably ranks in the top 5 luxury vehicles among pre-owned cars. Lexus continues to break barriers, and most of this brand’s vehicles maintain their resale value.
Subaru Outback
The Subaru Outback is known for its durability and longevity. “Subie” enthusiasts love these vehicles because they can last without significant breakdowns and repairs for 16-20 years, and the Subaru Outback is considered one of the best eco-friendly cars. Thanks to its longevity, the resale value of this off-road machine is good enough.
Chevrolet Silverado
The Chevrolet Silverado is another truck with extraordinary capabilities and is one of the release winners. Though it can depreciate 22% after five years, maintaining it can brush off the years of the vehicle. However, many experts advise against buying a used truck with over 100,000 miles.
Ford F-150
America’s best-selling pickup truck, the Ford F-150, holds its value well. If you want to make the most of the resale, stay away from those made in 2004-2008, 2010, and 2015-2017. It is a spacious, popular, and reliable vehicle that is also not expensive to maintain properly.
Jeep Wrangler
The Jeep Wrangler is an American classic. According to Car Edge, the Wrangler depreciates 22 percent after five years. While this may seem like a lot compared to The Toyota 4Runner, the Wrangler is an off-road vehicle with incredible performance and a rugged style that is hard to duplicate.
Honda Civic
The Honda Civic’s resale value dropped around 21.5% over five years. However, this vehicle has proved reliable and budget-friendly since its maintenance is less expensive than similar cars. If you want the best for your money, buy models from 2016 to 2021.
Toyota Camry
The Toyota Camry is a reliable and highly popular vehicle in the US. The resale value of this model highly depends on the car’s condition, and if you want to improve your value for the money, seek models made in 2002-2006 and 2012-2017. These are so affordable that families buy them as second or third vehicles.
Kate Smith, a self-proclaimed word nerd who relishes the power of language to inform, entertain, and inspire. Kate's passion for sharing knowledge and sparking meaningful conversations fuels her every word.