You probably know that a new car loses much of its value as soon as you drive it off the lot, but did you know that some cars lose value slower than others? On average, a small car loses $7,400 in value during the first year, and cars usually lose value faster than trucks and SUVs. When deciding which vehicle to buy, resale value should be a big consideration. A car that better maintains its value will make it easier to sell your car in the future without being upside-down and it can be important if you ever want to borrow against your car’s value with a title loan online or other type of secured loan.
Here are 10 cars with the best retained value:
#1. Honda Civic
The Honda Civic has made the Best Retained Value list by Edmunds four times in the last six years which makes it the best non-luxury sedan for retained resale value. Over 5 years, the Honda Civic depreciates an average of 35% compared to 60% for the average car.
#2. Scion xB
Want a non-luxury wagon that will hold its value? The Scion xB is the top pick. The Scion xB costs less than $20,000 upfront and depreciates only 30% during the first five years.
#3. BMW 3 Series
Cars in the BMW 3 Series like the M3 cost more than $70,000 but come highly rated by consumers. Their popularity improves their resale value, especially considering luxury vehicles tend to depreciate faster than regular vehicles. The BMW M3 depreciates 47% during the first 5 years, less than any other luxury coupe.
#4. Toyota Tacoma
If you’re in the market for a compact truck, give the Toyota Tacoma extra consideration for its fairly amazing resale value retention. The Tacoma has been named the best compact truck for resale value for the past six years by losing just 27% of its value over 5 years.
#5. Jeep Wrangler
The classic Wrangler earns top spot for non-luxury SUVs in terms of resale value, a spot it’s held for six years. Over 5 years, the Jeep Wrangler depreciates about 33%.
#6. Lexus GX-460
Shopping for a luxury SUV? The Lexus GX-460 has the lowest 5-year depreciation rate at 43%, which is still 10% higher than the Wrangler, the non-luxury counterpart.
#7. Honda Fit
While subcompact cars cost more than sedans, that doesn’t mean they hold their value any better. The Honda Fit is the top pick for subcompact cars with 3-year resale value of 61.5%, according to Kelly Blue Book. Its fuel efficiency also reduces the cost of ownership over those three years compared to other cars.
#8. Chevrolet Silverado
The Silverado pickup is the second-best-selling vehicle in the United States and its reputation and popularity help it retain its value better than 95% of other vehicles in the same class. After 5 years, the Silverado maintains 52% of its value.
#9. Honda Odyssey
The Honda Odyssey minivan has won numerous awards. It’s been the top pick for best retained value for a minivan for all ten years running, has an affordable price of $35,000, and it’s one of ten vehicles with the lowest insurance premiums. After 5 years, the Odyssey depreciates just 39%.
#10. Toyota Prius
Finally, the Prius earns top spot for the best hybrid for resale value. After 5 years, the Prius depreciates just 43%. Don’t forget to consider the thousands you will save in fuel during ownership compared to traditional gas-engine cars.