GMC Canyon Depreciation

A GMC Canyon will depreciate 40% after 5 years and have a 5 year resale value of $22,225.

The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $36,986 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the GMC Canyon.

GMC Canyon Depreciation Calculator

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GMC Canyon Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $7,427 79.92% $29,559 12,000 2022
2 $9,590 74.07% $27,396 24,000 2023
3 $10,952 70.39% $26,034 36,000 2024
4 $13,400 63.77% $23,586 48,000 2025
5 $14,761 60.09% $22,225 60,000 2026
6 $17,280 53.28% $19,706 72,000 2027
7 $21,034 43.13% $15,952 84,000 2028
8 $22,717 38.58% $14,269 96,000 2029
9 $25,165 31.96% $11,821 108,000 2030
10 $25,602 30.78% $11,384 120,000 2031

GMC Canyon Depreciation

Years Old Depreciation Residual Value Resale Value
1 $7,427 79.92% $29,559
2 $9,590 74.07% $27,396
3 $10,952 70.39% $26,034
4 $13,400 63.77% $23,586
5 $14,761 60.09% $22,225
6 $17,280 53.28% $19,706
7 $21,034 43.13% $15,952
8 $22,717 38.58% $14,269
9 $25,165 31.96% $11,821
10 $25,602 30.78% $11,384

Buying a GMC Canyon New vs Used

If you purchase a used GMC Canyon that is 2 years old, then you could save $9,590 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $5,171. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Canyon models become available.

What About GMC Canyon Insurance Costs?

The average cost to insure a GMC Canyon is about $1,489 per year. This adds up to around $7,445 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a GMC Canyon. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure

The Best Model Years to Buy a GMC Canyon

The 2020 GMC Canyon is our top pick for the best model year value for the Canyon. With the 2020, you would only pay, on average, 80% of the price as new, with 92% of the vehicle's useful life remaining. The 2019 and 2018 model years are also attractive years for the Canyon, and provide a relatively good value. Our rankings consider multiple factors, including the Canyon's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the GMC Canyon models.

GMC Canyon Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2021 $36,986 $36,986 $302 $0 0% 100% Good
2020 $36,941 $29,875 $353 $7,111 19.23% 79.92% Best
2019 $36,852 $27,731 $435 $2,144 7.18% 74.07% Better
2018 $36,779 $26,453 $565 $1,278 4.61% 70.39% Better
2017 $36,465 $23,926 $673 $2,527 9.55% 63.77% Good
2016 $36,996 $23,073 $843 $853 3.57% 60.09%
2015 $36,611 $20,693 $1,188 $2,380 10.32% 53.28%
2012 $28,068 $13,749 $1,642 $6,944 33.56% 43.13%
2011 $27,499 $12,274 $1,666 $1,475 10.73% 38.58%
2010 $22,868 $9,177 $1,869 $3,097 25.23% 31.96%
2009 $21,330 $8,728 $2,163 $449 4.89% 30.78%
Year Price % Paid Value Rank
2021 $36,986 100% Good
2020 $29,875 79.92% Best
2019 $27,731 74.07% Better
2018 $26,453 70.39% Better
2017 $23,926 63.77% Good
2016 $23,073 60.09%
2015 $20,693 53.28%
2012 $13,749 43.13%
2011 $12,274 38.58%
2010 $9,177 31.96%
2009 $8,728 30.78%

GMC Canyon Depreciation Rankings

Depreciation Rankings

We've ranked over 200 models from best to worst for Depreciation. See where the GMC Canyon ranks for Depreciation compared to other vehicles. Also check out how the Canyon stacks up in our rankings for Maintenance, Insurance and Overall Costs.

Depreciation Rankings

Other GMC Canyon Costs of Ownership

Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major GMC Canyon costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses: