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Car Resale Value:
What Cars Hold Their Resale Value the Most?
It's an unfortunate fact to face, but the second you drive your car off the lot, it will immediately depreciate in value. Unlike many other assets, cars will continue to lose their value over time; this, combined with the expenses one needs to retain ownership and keep up with maintenance, will define how much strain your vehicle will put on your finances. If you decide it's time to move on to a new vehicle and you want to sell your car, you'll need to find out its remaining resale value.
What is Car Resale Value?
Car resale value refers to the amount your vehicle is worth at the time of sale or trade-in. There are a variety of factors that influence how much value your car will retain, including:
- Condition: What condition your vehicle is in is a major factor in determining its resale value. According to Kelley Blue Book, there are four basic vehicle conditions: Excellent, Good, Fair, and Poor. A car in excellent condition will be new or almost new and have no damage of any kind inside or outside the vehicle. A car in good condition should be mostly free of damage and may have a few issues with its exterior cosmetics. A vehicle in fair condition will likely have a few problems but needs to be in proper working order. All three of these condition types need a clean title; the only one without will be a poor car. A vehicle in poor condition is likely only good for parts or scrap and may lack the proper elements to make it drivable.
- Type: The make, model, and year of your car also affect the resale value. Certain vehicle types retain their value better over time and are less likely to depreciate in value rapidly. Some vehicles are also more dependable or resilient to damage, keeping them in a higher condition category. In addition, specific makes, models, and years are in higher demand, meaning they are more likely to sell for a higher price.
- Age and Mileage: Your vehicle's age and mileage can help a buyer estimate how much wear-and-tear the car has experienced over its lifetime, directly influencing how much they are willing to pay. Older cars or those with over 200,000 driven miles will usually need more frequent maintenance. As a car is driven, its systems will slowly degrade and break down. Purchasing a heavily driven or older car is risky, as the likelihood you will need to make major repairs increases.
- History: Your vehicle's history can be very influential in determining its resale value, which is why getting a vehicle history report is so important. Buyers and sellers alike can benefit from the information provided in these reports, which can include:
- Vehicle Overview
- Title History
- Sales History
- Location History
- Residual Values
- Junk/Salvage Records
- Insurer "Total Loss" Records
- Auto Specs
- Title Brands (Problem Checks)
- Mileage Information
- Awards and Accolades
- NHTSA Crash Testing and Recall Data
- And Much More!
Best Resale Value Cars
While the highest resale value cars change from year to year with brands like Subaru, Mazda, and Honda drifting in and out of the top 10, the car resale value chart for 2022 shows models like the Toyota Tundra, Tesla Model X, and Ford F-series taking various spots in the higher rankings.
2022 Car Resale Value Chart
|Resale Rank||Vehicle Year and Model Type||Estimated Resale Value (5 Years after Purchase)|
|1||2022 Toyota Tundra||70.2%|
|2||2022 GMC Sierra||60.8%|
|3||2022 Toyota Tacoma||60.6%|
|4||2022 Ford Maverick (tie)||59.5%|
|4||2022 Chevrolet Corvette (tie)||59.5%|
|6||2022 Toyota 4Runner||58.6%|
|7||2022 Tesla Model X||57.6%|
|8||2022 Ford F-Series||57.3%|
|9||2022 Ford Ranger||56.7%|
|10||2022 Jeep Gladiator||56.1%|
Subaru is one of, if not the best, brand of vehicles for resale value retention. There are a few factors that help Subarus fight the effects of depreciation, including:
- Advanced Safety Features
- Higher Rates of Fuel Efficiency
- Long-Term Reliability
- All-Wheel Drive
- Affordable Starting Prices
- Low Maintenance Costs
Subarus tend to be in high demand, especially when the car market is already hot. In 2021, the Subaru models with the highest resale value included the following:
- Subaru Outback
- Subaru Crosstrek
- Subaru Forester
- Subaru Impreza
Another excellent car brand that keeps its resale values high is Honda. There are a few reasons why Hondas tend to retain value and fight depreciation at a higher rate, including:
- Low Ownership Costs
- Less Required Maintenance
- Overall Reliability
- Solid Warranty Offers
- Consistent Performance
Hondas can stay in working condition for extended periods, making them a favorite for those looking to purchase a used car. Kelley Blue Book has awarded Resale Value Awards to several Honda models, including:
- Honda Insight
- Honda Civic
- Honda Odyssey
- Honda Ridgeline
- Honda HR-V
Mazdas are another brand that's well known for their high resale value cars. There are several reasons why Mazdas tend to hold on to its value longer than other brands, including:
- Better Gas Mileage
- Expansive Electric Options
- Less Frequent Maintenance
- Affordable Starting Prices
- Longer Overall Lifespan
By requiring fewer repairs on average than many other brands and boasting a long lifespan, a used Mazda is often in good condition when it comes to selling. Some of their models that hold high resale value include:
- Mazda 3
- Mazda 6
- Mazda CX-3
- Mazda CX-30
- Mazda CX-5
What Car Has the Best Resale Value?
If you are looking for cars with the best resale value, the most common brand that holds on to their value over time is Subaru. The three Subaru models with the best resale value are the 2021 Subaru Forester, the 2021 Subaru Crosstrek, and the 2021 Subaru Outback. The Outback is their most popular model, with some years winning the highest resale awards from Kelley Blue Book. But for 2021, the car that won the most resale value awards was the Crosstrek.
How Can I Find the Resale Value of My Car?
There are several ways you can find the resale value of your car, using tools made available from sites like Kelley Blue Book and GoodCar. In some cases, you'll need to gather all the available information about your vehicle, while for other services, you will only need your 17-character VIN. Once entered, these sites will show you how much your car is worth and, depending on the service, may show you ways to put your car up for sale.
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