When it comes to purchasing a vehicle, one of the key factors that savvy buyers consider is resale value. Vehicles that hold their value well over time can save you thousands of dollars in the long run.
But what exactly does it mean for a vehicle to have a high resale value, and why is it so important? And what are some of the most popular trucks and SUVs in the North American market known for their impressive resale value? Discover the secrets behind high-resale vehicles and explore our top picks below.
What Is Resale Value?
Before we dive into the specifics of popular vehicles with the best resale value, let's first unpack what resale value is and why it’s such a crucial consideration for car buyers.
Owning a vehicle with a high resale value simply means that you'll get more money back when it's time to sell or trade in. Specifically, it refers to the monetary worth that a vehicle retains over time, a number typically expressed as a percentage of the original purchase price. So, the less a vehicle depreciates over time, the more of its original value it retains, and the higher its resale value is.
High resale value can significantly offset the overall cost of ownership, making it a financially prudent choice in the long term. For example, if you purchase a vehicle for $30,000 and it retains 60% of its value after three years, then you can (theoretically) sell it for $18,000. In contrast, a vehicle purchased at the same price, with poor resale value, might only retain 40% of its value, resulting in a resale price of $12,000.
Obviously, other factors come into play when reselling a vehicle, like condition, age, and mileage. But, overall, vehicles recognized for having the "best" resale values generally exhibit a consistent ability to retain their worth over time, even in the face of changing market conditions and consumer preferences.
Why Resale Value Matters
Resale value is a crucial consideration for car buyers, not only because it largely determines what a person is willing to pay for your vehicle, but for several other reasons as well:
Reliability and Quality: Vehicles that hold their value tend to be those that are built to last. Investing in such a vehicle means you're likely getting a product that will serve you reliably for years to come. Reliability is not just about avoiding breakdowns, either; it's also about the peace of mind that comes with knowing your vehicle will perform consistently well over its lifespan.
Lower Depreciation Costs: Depreciation is the single biggest expense of owning a vehicle. By choosing a car, truck, or SUV with strong resale value, you help mitigate the impact of depreciation, ultimately saving yourself money. Since vehicles with high resale value depreciate at a slower rate, you'll lose less money on your investment over time. This can be especially advantageous if you plan to sell or trade in your vehicle within a few years of purchase.
Lower Maintenance Costs: Vehicles with good resale value often come from brands with a reputation for durability and longevity. These vehicles typically require fewer repairs and maintenance, further reducing the cost of ownership.
Supply and Demand: High resale vehicles are understandably appealing and popular to own. Vehicle ownership is one of the most expensive costs in the average American’s life, so most folks are buying used vehicles – and savvy ones are buying used vehicles with high resale for all of the previously mentioned reasons. This makes demand high and supply low.
Additionally, popular models with high resale value often have a robust aftermarket parts and accessories market, making it easier (and more affordable) to customize and maintain your vehicle.
Popular Trucks and SUVs With Best Resale Value
Now that you understand the importance of resale value, let's take a closer look at some of the most popular trucks and SUVs in the North American market known for holding their value exceptionally well.
Toyota Tacoma: A long-standing favorite among truck enthusiasts, the mid-size Toyota Tacoma is known for its legendary reliability and off-road capabilities. Its strong resale value is a testament to its durability and timeless appeal, with the model generally holding 60-65% of its value after 5 years. The Toyota Tacoma's reputation for ruggedness and dependability makes it a top choice for buyers who value longevity and retained value in their vehicles – especially ones regularly put to work at the jobsite or on the trail.
Honda CR-V: This versatile family vehicle consistently ranks as one of the best-selling SUVs in North America, and it’s easy to see why. Reliable performance, respectable fuel efficiency, and a spacious interior all make for a fun-to-drive ride with excellent resale value. Honda's reputation for building dependable and safe vehicles adds to the CR-V's allure in the used car market where it currently holds a 5-year resale value of more than 60% its original price.
Chevrolet Silverado: As one of the top-selling trucks in the United States, the Chevrolet Silverado holds its value remarkably well at more than 60% after 5 years. Heavy-duty variants perform even better, with 2500 and 3500 Silverados often retaining well over 70% of their original value. With a range of powerful engines, rugged construction, and a comfortable ride, the Silverado appeals to both work and leisure-oriented buyers, and its strong resale value is a reflection of that popularity, reliability, and broad appeal across different segments of the market.
Subaru Outback: The Subaru Outback blends the versatility of an SUV with the practicality of a wagon, making it a favorite among outdoor enthusiasts and families alike. Its standard all-wheel-drive system, excellent safety ratings, and strong resale value of more than 60% after 5 years make it a top choice in its segment. The Outback's reputation for reliability and longevity, combined with its spacious interior and capable performance, ensures that it remains a popular option for buyers seeking a vehicle with exceptional resale value.
Jeep Wrangler: Renowned for its iconic design and unbeatable off-road capabilities, the Jeep Wrangler commands a strong resale value. It’s not unusual to see models holding more than 75% of their original value after 5 years, with some special trims retaining even more. The Wrangler’s timeless appeal and customizable features make it a much sought-after vehicle for adventure-seekers and off-road enthusiasts, while its reputation for ruggedness and versatility ensures it remains in high demand in the resale market. As a result, Jeep Wranglers have proven to be a smart investment for buyers looking for a vehicle that can hold its value over time.
Choosing a vehicle with high resale value is a smart financial decision that can pay dividends in the long run. Whether you're in the market for a truck or an SUV, consider one of these popular models known for their exceptional resale value and when it's time to enhance your ride, trust Parts Via for top-quality parts and accessories.