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GMC Canyon Depreciation

A GMC Canyon will depreciate 16% after 5 years and have a 5 year resale value of $38,412.

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 $45,975 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.

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GMC Canyon Depreciation Calculator

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GMC Canyon Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $3,503 92.38% $42,472 12,000 2022
2 $5,112 88.88% $40,863 24,000 2023
3 $5,977 87.00% $39,998 36,000 2024
4 $6,745 85.33% $39,230 48,000 2025
5 $7,563 83.55% $38,412 60,000 2026
6 $11,751 74.44% $34,224 72,000 2027
7 $14,942 67.50% $31,033 84,000 2028
8 $24,008 47.78% $21,967 96,000 2029
9 $28,417 38.19% $17,558 108,000 2030
10 $28,964 37.00% $17,011 120,000 2031

GMC Canyon Depreciation

Years Old Depreciation Residual Value Resale Value
1 $3,503 92.38% $42,472
2 $5,112 88.88% $40,863
3 $5,977 87.00% $39,998
4 $6,745 85.33% $39,230
5 $7,563 83.55% $38,412
6 $11,751 74.44% $34,224
7 $14,942 67.50% $31,033
8 $24,008 47.78% $21,967
9 $28,417 38.19% $17,558
10 $28,964 37.00% $17,011

Buying a GMC Canyon New vs Used

If you purchase a used GMC Canyon that is 2 years old, then you could save $5,112 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 $2,451. 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 $1,642 per year. This adds up to around $8,210 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 2022 GMC Canyon is our top pick for the best model year value for the Canyon. With the 2022, you would only pay, on average, 100% of the price as new, with 100% of the vehicle's useful life remaining. The 2021 and 2020 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
2022 $45,975 $45,975 $320 $0 0% 100% Best
2021 $44,580 $41,554 $371 $4,421 9.62% 92.38% Better
2020 $42,300 $38,051 $453 $3,503 8.43% 88.88% Better
2019 $40,228 $34,998 $583 $3,053 8.02% 87% Good
2018 $39,310 $34,234 $691 $764 2.18% 85.33% Good
2017 $36,465 $31,328 $861 $2,906 8.49% 83.55%
2016 $36,996 $28,745 $1,205 $2,583 8.25% 74.44%
2015 $36,611 $26,054 $1,343 $2,691 9.36% 67.5%
2012 $28,068 $15,096 $1,684 $10,958 42.06% 47.78%
2011 $27,499 $12,389 $1,887 $2,707 17.93% 38.19%
2010 $22,868 $8,461 $2,181 $3,928 31.71% 37%
Year Price % Paid Value Rank
2022 $45,975 100% Best
2021 $41,554 92.38% Better
2020 $38,051 88.88% Better
2019 $34,998 87% Good
2018 $34,234 85.33% Good
2017 $31,328 83.55%
2016 $28,745 74.44%
2015 $26,054 67.5%
2012 $15,096 47.78%
2011 $12,389 38.19%
2010 $8,461 37%

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: