Why is it that cars lose their value so quickly? It’s simple: they are a piece of equipment and any bit of use equates to “wear and tear.”
Selecting a vehicle with a higher expected resale value affects both how much the vehicle will be when it's traded in and how affordable the monthly payments will be for those who lease.
Some Brands Retain Value More Than Others
That said, it can be assumed that the average 2021 model-year vehicle will depreciate about 60% of its original value after the standard five-year ownership period (according to Kelley Blue Book). The resale value of any given model is ultimately dependent upon the condition and mileage of the vehicle.
With all vehicles losing over half their original value within a five-year period, there are some that retain more of their original value after that period than others. Accounting for various factors (supply and demand, automaker’s incentives, etc.) as well as regional preferences (four/all-wheel-drive in snowy places and pickups in The South), these car brands still reign supreme in the ring of long-term value retention.
Top Five Car Brands With Long Term Value
According to a 2019 research study done by the automotive engine and research outfit iSeeCars.com, only 1% of cars sold during that year had at least 200,000 miles on their odometer. That said, there are brands that were proven to last longer than the others.
The study concluded that there are five brands with astounding long-term reliability. These brands build vehicles that are liable to last for at least 200,000 miles more than other vehicles. The Pickups and SUVs models reign supreme in regards to longevity, but sedans and minivans had some presence as well.
These five brands in order are:
- Toyota — Toyota is the top contender in terms of longevity amongst the car brands. Their top value-retaining model being the Toyota Tundra, which retains an average of 59% of its resale value.
- Honda — Holding down the #2 spot is the Honda Accord. The Accord has been known for its value as a vehicle across multiple continents. After a five-year period of ownership, the Honda Accord has depreciation of 42%, with an average resale value of $18,896.
- GMC — The GMC Sierra retains over 60% of its resale value and sells for a price of $28,816.
- Chevrolet — The Chevy Silverado loses 35% of its value after a five-year period. The Silverado will have a resale value of $26,685 and is likely one of the factors that has cemented the Silverado in American culture.
- Ford — Ford comes in at fifth place amongst these brands, with its Ford Mustang holding it down. The beloved Mustang only loses 39% of its value after five years with an average resale value of $22,518.
Car-Worth Has The Solution For You!
Got a vehicle you want to get off your hands? Car-Worth will give you a market-value offer for your vehicle within 90 seconds. Take out the guesswork on what your car is worth and visit us at Car-Worth.com
How much does a branded title affect value?
A Branded Title indicates that a car has sustained damage from an accident, theft, fire, or flooding. A branded title absolutely decreases a vehicle’s value, losing 20-40% of its value after being damaged.
Car-Worth.com can help you zero in on the best value for your car in under 90 seconds!
Is it worth buying a branded title car?
Generally speaking, cars with a branded title are worth 50% of what the vehicle would be with a clean title. Additionally, depending on the branding, it may be more challenging or more expensive to insure the vehicle once you have it.
That means in many cases, the answer is no — it’s not worth buying a car with a branding!
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