If you’re planning to buy a new car, it’s important to consider the depreciation rate of the vehicle you’re interested in. Depreciation is the loss of value that occurs over time, and some cars lose their value faster than others. At CarEdge, we’ve analyzed millions of car listings and other automotive data points to provide you with proven data on the cars, SUVs, and trucks with the worst resale value in 2023. Don’t forget to check out the models and brands with the best resale value.
73.74% resale value after 5 years
After 5 years, Buick vehicles lose around 26% of their original value, making them one of the worst brands for resale value. The Buick Encore and Enclave are among the worst models for resale value, with both retaining only around 74% of their original value after 5 years.
Here’s a 2020 Buick Enclave that has lost 44% of its original value in less than three years. On top of that, it’s been sitting on the lot for 112 days. High depreciation can be a huge benefit to used car buyers. This Buick is highly negotiable.
See days on the market, local supply, negotiability score, suggested offer and more for every new and used vehicle listing with CarEdge Data.
74.06% resale value after 5 years
With a resale value of only 74.06% after 5 years, Chrysler is among the worst brands for retaining value. The Chrysler 300 is one of the worst models for resale value, with only around 74% of its original value retained after 5 years.
This 2020 Chrysler Voyager sold for nearly $10,000 more just a few years ago. However, due to ongoing minivan shortages, it’s still tough to negotiate. Days’ supply remains below average for most vans.
75.60% resale value after 5 years
Ram trucks have a resale value of only 75.60% after 5 years, making them a poor choice for those concerned about retaining value. The Ram 1500 is one of the worst models for resale value, with only around 75% of its original value retained after 5 years.
Ram can’t sell trucks right now. In fact, Ford and GM can’t either. We recently took a close look at the oversupply of trucks in America. It’s a startling contrast with the shortage of affordable new car models. Depreciation is definitely something to consider when buying a new Ram truck. This 5-year old Ram 1500 Limited with a clean record and 97,000 miles on the odometer has lost 42% of its value already.
See days’ supply, negotiability scores and recommended offers for every new and used car on the market at CarEdge Car Search.
75.77% resale value after 5 years
After 5 years, Jeep vehicles lose around 24% of their original value, putting them among the worst brands for resale value. The Jeep Grand Cherokee and Cherokee are among the worst models for resale value, with both retaining only around 72% of their original value after 5 years.
This 2020 Jeep Grand Cherokee with a clean record and just 42,000 miles on the odometer has lost 30% of its original value in three years. It’s negotiable!
77.84% resale value after 5 years
Nissan vehicles have a resale value of only 77.84% after 5 years, making them one of the worst brands for retaining value. The Nissan Armada and LEAF are among the worst models for resale value, with both retaining only around 68% of their original value after 5 years.
This 2018 Nissan Altima SR lost 32% of its value in 5 years, and that’s with a clean record and low mileage for a vehicle of that age.
Car Models With the Worst Depreciation After 5 Years
Of the more than 400 models on sale in North America, these are the 20 with the highest depreciation, and the quickest to lose resale value.
|GMC Yukon XL||68.38%|
|GMC Sierra 2500HD||71.30%|
|Jeep Grand Cherokee||72.70%|
Maximize Your Savings: How CarEdge Data Can Help You Make Informed Car Buying Decisions
As you can see, some models lose more than 30% of their value after just five years. Buying a car with a low resale value can cost you thousands of dollars in the long run. This is especially true if you are likely to sell your car within the next decade. So, before you make a purchase, be sure to research the resale value of the vehicle you’re interested in.
At CarEdge, we provide you with the data you need to make informed decisions. With CarEdge Data, you can access valuable market data, including Black Book valuations, CarEdge Suggested Offer, Negotiability Score, CarEdge Recommendation, and local Days Supply in your region. With this information, you can negotiate better deals and avoid being taken advantage of by car dealerships.
Don’t get caught off guard with high depreciation. Unlock behind-the-scenes insights that will inform your car buying decisions today. And if you’re looking for 1:1 help with your deal, partner with a car buying pro with years of experience with CarEdge Coach. We’re real people helping drivers everywhere save real money. Check out these uplifting success stories to see how much you could save!