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The average new car bought in 2023 will depreciate by more than half in five years, according to Kelley Blue Book.
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But some cars hold their value much better than others, according to a new study from the research firm.
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Toyota, Ford, and Tesla make some of the best cars for shoppers worried about depreciation.
A new car starts depreciating the second you drive it off the lot. But some models hold their value over time better than others.
Kelley Blue Book on Sunday released its annual Best Resale Value Awards, recognizing the new cars, trucks, and SUVs that put the most money back in their owners’ pockets after years on the road.
The average new vehicle will only be worth 45{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee} of its starting price five years down the line, the automotive research firm says.
But it projects that the 10 2023 models it chose for this year’s top awards will fare better than 95{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee} of the car market, retaining 65{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee} of their value over the same period.
9 (tie). Jeep Gladiator
Five-year resale value: 61{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
Read more: After driving 22 electric cars, these are the 3 I’d steer clear of
9 (tie). Subaru Crosstrek
Five-year resale value: 61{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
8. Ford Maverick
Five-year resale value: 61.7{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
Read more: Hyundai’s low-cost, long-range sedan is shaping up to be a major pain for Elon Musk
7. Honda Civic
Five-year resale value: 62.5{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
6. Toyota 4Runner
Five-year resale value: 64.4{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
5. Chevrolet Corvette
Five-year resale value: 65.3{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
Read more: Elon Musk has promised self-driving Teslas for years. Experts say it’s not even close.
4. Ford Bronco
Five-year resale value: 65.4{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
2 (tie). Tesla Model X
Five-year resale value: 66{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
2 (tie). Toyota Tacoma
Five-year resale value: 66{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
1. Toyota Tundra
Five-year resale value: 73.3{e410be007f3fd0fc7192ddce64f064014ac3d4d0ef675ed9817a95680a41cfee}
Read the original article on Business Insider