A car starts depreciating as soon as you drive off the dealership, so getting one that holds its value well after many years on the road is very important. If you buy a new car that depreciates faster than its competitors, you may lose good money if you decide to resell.
Generally, luxury vehicles like the Audi A8, Mercedes-Benz GLS-Class, and Land Rover Range Rover tend to depreciate faster, so you may want to avoid them. Also, larger SUVs tend to depreciate faster than smaller vehicles. Mileage, reliability, repair history, size, fuel economy, and even road tax are some of the factors that affect a car's depreciation rate. From sedans like the Volkswagen Jetta to the Mazda MX-5 Miata roadster, here are the cars with the best resale value you can find today, going by the depreciation study from CarEdge.
Related: 10 Electric Cars That Hold Their Value Longest, Ranked
The Honda Civic is not only affordable but also good when it comes to value retention. Only 16% of the Civic’s original value is lost after five years of ownership. Comparatively, a sedan like the Nissan Altima loses up to 35% of its value after half a decade.
You will save around $2,899 if you buy a two-year-old Civic rather than a new one, and still have decent mileage left. After 10 years of ownership, the Civic will have a residual value of 55.33%, while the Altima will have only 33.28%.
When you think of an affordable roadster, the Mazda MX-5 Miata is one of the first cars that comes to mind. It also does a good job of holding its value after a lengthy period on the road. After five years, the MX-5 Miata depreciates by 19%, while a sports car like the Jaguar F-Type loses 43% of its value.
If you buy a three-year-old used MX-5 Miata, you will save up to $3,465 instead of buying a new one. After 10 years on the road, the MX-5 Miata will have a residual value of 62.94%, while the Jaguar F-Type will have only 45.00%.
If you need a supercar-performance sports car as a daily companion, the Chevrolet Corvette is for you. Getting a new Corvette is a bit pricey, compared to the Mustang, and Dodge Challenger. But it holds a value pretty well. The Corvette has a depreciation rate of 18% after five years, while the Challenger has 29%.
You will save around $8,770 if you buy a two-year-old used Corvette instead of a brand-new one. After serving you for 10 years, the Corvette will still have a residual value of 61.92%, while the Challenger will have only 49.00%.
Related: 15 Expensive Sports Cars That Depreciate Like Crazy
The Toyota Prius is not a sporty hybrid sedan, but also a good value retainer. It retains 82.90% of its original value after five years of ownership, while the Avalon retains only 73.13%.
You can save up to $4,289 by getting a used Prius that is three years old instead of going for a new one. After 10 years, the Prius will have a value of 49.15% left, while the Avalon will lose 55.2% of its value.
The Toyota 4Runner is a terrific off-roader that knows how to hold its value pretty well. After three years, the 4Runner loses 13% of its original worth and 19.36% in five years. The 4Runner’s depreciation rate is quite low, unlike the Ford Bronco, which loses up to 35% under five years.
If you buy a three-year-old used 4Runner instead of a new one, you will be able to save about $7,184. After serving you diligently for 10 years, the 4Runner will still have a value of 55.02% left, while the Bronco will have only 33.70%.
Whether you go for the four-door sedan or five-door hatchback, the Kia Rio holds the best resale value over time. It loses just 13.11% after three years or about 36,000 miles. After five years, a Kia Rio will have a residual value of 84.81%.
In comparison, the Chevrolet Sonic and the Honda Fit will both depreciate by 28% after 5 years. The Kia Rio will have 44.35% of its original value left after 10 years or 120,000 miles.
The Honda HR-V is one of the best compact SUVs when it comes to value retention. It will have a residual value of 82.00% after three years on the road and allow you to save up to $5,410 if you opt for a used one instead of a new one.
After five years or about 60,000 miles, the value of the HR-V will drop 22%. Under the same circumstances, a Hyundai Kona will lose 33% of its original value, while a Mazda CX-30 will depreciate 28%.
Related: 2023 Honda HR-V Review: The Best Compact Crossover Value
Slotted between the midsize Kia K5 family sedan and the compact Rio, the Forte is frugal with fuel consumption but generous with value retention. After three years of ownership, the Forte will have a residual value of 83%, while a rival, like the Mazda 3, will have 85.87%.
From a depreciation standpoint, the best used Forte to buy is any between 2 and 4 years old. You will save between $3,955 and $4,963 and have at least 81% of useful life left. If you decide to hold onto your Forte for 10 years, it would have depreciated by 55.49%.
The Volkswagen Jetta is quite an affordable sedan to own, especially as it has one of the lowest five-year depreciation rates. Its residual value drops to 83.26% after five years on the road, while that of the Nissan Sentra drops to 77.34%.
The Volkswagen Jetta retains 51.37% of its original value after a decade on the road, while the Sentra has only 38.59%. If you buy a three-year-old Jetta, you could save up to $4,018 and have a residual value of 84.98%.
The Hyundai Elantra is reasonably priced and holds its value well. After three years of use, the Elantra's value drops to 82.00%, while a sedan like the Nissan Altima loses 22.41%. You can save up to $4,569 if you buy a four-year-old Elantra instead of a new one.
After serving you for five years, the residual value of the Elantra drops to 78.00%, while after 10 years, you will still have a 50.78% resale value and plenty of useful life remaining.
Sources: CarEdge and iSeeCars2023-03-18T20:34:30Z dg43tfdfdgfd