In the car-buying world, not all vehicles are created equal in terms of holding their value. For many drivers, a car is a significant investment, and the ability to recoup some of that cost down the road is an important consideration.
If you’re looking for a car that will serve you well for years and retain a healthy portion of its original value without having serious problems such as a knocking sound from the engine, this list is for you!
We’ve compiled ten vehicles known for their exceptional resale value after five years of ownership.
These models are renowned for their reliability, durability, and consistent demand in the used car market. So, buckle up and get ready to discover some of the smartest choices for value-conscious car buyers!
| Did you know? According to Kelley Blue Book, the average car loses roughly 55% of its original value after five years. That means a $30,000 car could be worth only $13,500! But some champions hold their ground much better. The top performers can retain over 80% of their value after five years, saving you thousands when it’s time to sell or trade-in. |
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Cars with the Best Resale Value After 5 Years
Now, let us consider the cars and where the “sweet spot lies.” By sweet spot, we mean the best time to buy; most of the analysis done here is culled from CarEdge data. The first car on our list is:
The Subaru Forester
The Subaru Forester stands out for its resale value, depreciating only 22% after five years, which translates to a projected value of $27,481. This performance is slightly above average, with the Forester experiencing a slower and steadier decline in value compared to most cars that depreciate rapidly in the beginning and then stabilize.
While the Forester holds its worth well in the first few years, for an even more significant financial advantage, consider a two or three year lease. Leases typically focus on the higher residual value of newer models, resulting in potentially lower monthly payments.
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GMC Sierra 1500
Finding a GMC Sierra 1500 without breaking the bank involves smart timing. CarEdge estimates a 5-year-old Sierra depreciates around 22%, bringing the price down to $46,588 (assuming a starting price of $59,705).
The sweet spot lies in waiting a couple of years. Compared to buying new, a 2-year-old Sierra could save you around $3,935 and still offer a practically new car with plenty of life left. Focus on vehicles between 2 and 4 years old to minimize depreciation costs. To better understand pricing, you can look up any GMC Sierra vehicle’s MSRP on a window sticker.
If your desired Sierra is a recently released model, consider exploring other trucks or waiting for more used Sierras to hit the market. Following these tips, you can find a GMC Sierra 1500 that fits your budget without sacrificing quality.
Chevy Silverado
CarEdge predicts that a Chevrolet Silverado 3500HD will experience significant depreciation after five years, losing around 27% of its value. This translates to a potential resale value of $56,348 (assuming a starting price of $76,884).
The good news is you can save money by targeting slightly used models. Opting for a 2-year-old Silverado could save you an estimated $2,860 compared to buying a new one. Plus, you’ll still get a new truck with plenty of miles left.
Here’s the key: trucks between 2 and 4 years old are the sweet spot. Brand-new vehicles experience the steepest depreciation. Look for trucks within this age range to minimize your overall depreciation cost.
Finding a used one might be tricky if the Silverado you desire is a recent release. Consider exploring other heavy-duty trucks or waiting for more used Silverados to enter the market. Following these tips, you can find a Chevrolet Silverado 3500HD that fits your budget without sacrificing a quality vehicle. The following car on our list is the Nissan Frontier.
Nissan Frontier
CarEdge estimates a Nissan Frontier will depreciate around 23% after five years, bringing the resale value down to $29,942 (assuming a starting price of $38,860). The key to saving money lies in waiting a couple of years. A 2-year-old Frontier could save you an estimated $3,664 compared to buying a new one. You’ll still have a practically new truck with plenty of life left.
The sweet spot for Frontier purchases is between 2 and 4 years old. Brand new vehicles experience the most significant depreciation hit. You can minimize the total depreciation cost by focusing on trucks within this age range.
Mitsubishi Mirage
According to Claridge, a Mitsubishi Mirage will lose around 27% of its value after five years, bringing the resale value down to $13,975 (assuming a starting price of $19,181). The key to savings lies in targeting slightly used models. Opting for a 2-year-old Mirage could save you an estimated $909 compared to buying a new one. You’ll also get a new car with plenty of miles left.
Here’s the secret: Mirages between 2 and 4 years old are the sweet spot for purchases. Brand-new vehicles experience the steepest depreciation. Look for Mirages within this age range to minimize your overall depreciation cost over the ownership period.
The Mazda CX-5
The Mazda CX-5 offers a good balance when it comes to depreciation. While not a champion at holding its value, it also doesn’t depreciate excessively compared to other cars. Here’s how to navigate depreciation and find the right CX-5 for you:
An estimated 25% depreciation for the Mazda CX-5 after five years was reported, resulting in a potential resale value of $25,150 (assuming a starting price of $33,533). Unlike some cars with a sharp initial depreciation hit, the CX-5 experiences a slower and steadier decline in value throughout its lifespan.
Honda Accord
CarEdge estimates a Honda Accord will depreciate around 21% after five years, bringing the resale value down to $29,394 (assuming a starting price of $37,270) — the sweet spot for savings lies in targeting slightly used models. Opting for a 2-year-old Accord could save an estimated $2,988 compared to buying a new one. You’ll also get a new car with plenty of miles left.
The 2-4-year window is the depreciation sweet spot for Accords. Brand-new vehicles experience the steepest depreciation. Focus on Accords within this age range to minimize your total depreciation cost over the ownership period.
Mazda MX-5 Miata
CarEdge predicts a Mazda MX-5 Miata will depreciate around 19% after five years, resulting in a potential resale value of $27,976 (assuming a starting price of $34,688). This makes it an excellent choice for drivers who want to save money without sacrificing enjoyment.
Opting for a 2-year-old MX-5 Miata could save an estimated $3,302 compared to buying a new one. You’ll still have a practically new car with plenty of exciting miles ahead.
RAM 3500
RAM 3500 will depreciate around 28% after five years, bringing the resale value down to $56,810 (assuming a starting price of $79,333). The key to savings is to target slightly used models. Opting for a 2-year-old RAM 3500 could save you an estimated $7,203 compared to buying a new one. You’ll still get a practically new truck with plenty of work left in it.
The sweet spot for RAM 3500 purchases falls between 2 and 4 years old. Brand-new vehicles experience the steepest depreciation hit. By focusing on trucks within this age range, you can minimize the total cost of depreciation you’ll face over ownership.
The Toyota Tacoma is a popular choice for its durability and resale value. Here’s how to leverage its depreciation pattern to save money:
Toyota Tacoma
Toyota Tacoma will depreciate around 33% after five years, bringing the resale value down to $28,011 (assuming a starting price of $41,774)—the sweet spot for savings lies in targeting slightly used models. Opting for a 2-year-old Tacoma could save an estimated $6,383 compared to buying a new one. Plus, you’ll still get a practically new truck with plenty of miles left ahead.
The 2-4-year window is the prime time for finding a good deal on a Tacoma. Brand-new vehicles experience the steepest depreciation. Focus on Tacomas within this age range to minimize your total depreciation cost over the ownership period.
Conclusively, let us mention that the 2024 Kelley Blue Book Best Resale Value Awards recognize excellence in holding value over time.
This year, the awards highlighted the best overall SUVs for resale value, separating Toyota and Lexus for standard and luxury brands. It also showcased individual models across various segments that are projected to retain the highest percentage of their original 2023 valuation after five years of ownership.
Other SUVs and sports cars with good resale value include, but are not limited to:
- Toyota Prius
- Toyota 4runner
- Honda Civic
- Toyota Tundra
- Chevrolet Corvette
To cap it off, we would like to mention that other serious factors can affect depreciation, such as accidents, hail damages, flooding, and how often the vehicle was used, usually determined by the mileage.A detailed vehicle history report could measure or illuminate these other factors that transcend time. We strongly advise that you look at the history report of any of the above-mentioned vehicles and others whenever you want to buy a used car.
