If you’re shopping for a new vehicle in the U.S. that will hold its value well, buying a pickup truck could be the best option.
An analysis from Zutobi has revealed that the three vehicles which hold their value best after three years are the Toyota Tacoma, Ford F-Series, and Ford Ranger. The Tacoma leads the pack, experiencing an average depreciation rate of 21.93 per cent over the first three years, meaning the original list price of $28,545 turns into an average used price of $22,286.
The Ford F-Series and Ranger follow closely behind, both experiencing a 24.48 per cent drop in value after three years. The F-Series has an average list price of $39,395 and is valued at $29,753. The Ranger starts at $29,195 and the average value after three years sits at $22,049.
Other cars that perform well include the Tesla Model 3 (24.79 per cent depreciation), Nissan Frontier (25.15 per cent), Chevrolet Colorado (25.49 per cent), Toyota RAV4 (25.97 per cent), Mazda3 (26.31 per cent), Toyota Tundra (26.87 per cent), and surprisingly, the BMW X3 with an average depreciation rate of 27.02 per cent.
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On the other end of the spectrum are some vehicles that experience a massive drop in value. Indeed, the new car with the highest depreciation rate is the Kia Sorento, dropping 55.16 per cent in value after three years, down from a list price of $30,845 to an average of $13,831. That outpaces the Chevrolet Trax’s 50.31 per cent depreciation rate, falling from $22,595 to $11,228, and the Mercedes-Benz GLE with a 48.85 per cent decline, dropping from $56,750 to $29,029.
Plenty of other new vehicles in the U.S. lose heaps of value after three years. These include the Buick Encore GX (47.71 per cent), Chevrolet Express Van (45.80 per cent), Chevrolet Equinox (44.91 per cent), Lexus ES (44.21 per cent), Nissan Sentra (43.61 per cent), Buick Envision (43.53 per cent), and Nissan Altima at 43.21 per cent.
To determine its rates of depreciation, Zutobi utilized the list prices of the 100 best-selling cars in the United States. It then used a depreciation calculator to determine the estimated value after three years if a vehicle is driven an average of 13,500 miles (~21,700 km) per year.