After almost three years of volatility, the automobile market is beginning to settle. However, a few cars and trucks are still worth more when they leave the lot than their listed MSRPs.
A few brands of cars and trucks are almost guaranteed winners for their owners concerning dependability and resale value. For example, did you know that Porsche makes one of the most dependable cars in the world?
The Porsche 911 is an icon among sportscar enthusiasts and has the best resale value of any vehicle on the market. J.D.Power
The 911 has beaten the odds, and three-year-old models sold in 2022 for five and one-tenth percent more than their sticker price. However, you needn’t spend north of a hundred thousand dollars to find a dependable car that retains its value well. Following are the cars and trucks with the best resale value for 2023.
Cars with the best resale value in 2023
There are many criteria used to determine the resale value of vehicles. However, the most accurate is using VINs to evaluate every vehicle model for each year. JD Power estimates cars in this manner, providing objective data that, along with other publications, can help you get the best deal on your next vehicle.
Premium Sports Car
The Porsche 911 has sold at five percent over its MSRP in the last couple of years. Considering that fact, it’s safe to bet that it will do the same in 2023 that it has for the last several years. Even before the pandemic, the Porsche 911 maintained 85 percent of its value at five years of age.
Midsize Sport Sedan
The BMW 2 Series is slated to lose approximately 19 percent of its value in the first three years. Although not as impressive as the Porsche, this number is higher than many competitors, and sometimes you need a sporty four-door.
Compact Sports Coupe
The compact sports coupe with the highest resale in 2023 will likely be the Subaru BRZ. It is priced competitively and is projected to lose about 21 percent of its value in the first three years and only two more percent on its fifth anniversary. However, as with many cars, your results may be different.
The resale value of small cars
A diminishing market, as competitive crossovers and small SUVs continue to dominate sales, small sedans, coupes, and hatchbacks have become fewer every year. Here are the ones with the most resale value in each category.
Best Resale of a Small Car
This category offers you two cars that go head to head for small cars with the best resale. The Kia Forte and the MINI Clubman have an estimated resale of only 17 percent below their MSRP. This is an excellent price point for a compact car, which notoriously seems to lose its value overnight.
Best Resale of the Midsize Car
Four midsize cars should retain their value well, based on their histories. The Chevrolet Malibu (84 percent value remaining), Kia K5 (85 percent), Nissan Altima (78 percent), and Toyota Camry (85 percent) all hold their value better than the competition. Three of these contenders have been around for decades. The Kia K5 is the newest to break into this resale bracket.
Best Resale of the Large Car
Like small four-door cars, large sedans, coupes, and wagons are getting thin in this segment. However, the Mercedes-Benz EQS is slated to lose 34 percent of its value in its third year of ownership.
It is not uncommon for higher-priced vehicles to depreciate this rapidly. However, although it is a significant loss for the first owner, used luxury cars can be purchased at five years of age for markedly reduced prices over new ones.
Trucks with the best resale value in 2023
Trucks have always maintained their value better than cars, and the outlook for 2023 reflects truck resale values.
Midsize Pickup Truck Resale
The estimated resale of the Ford Ranger is estimated to be 88 percent at three years old. However, at six percent above the resale value of the Chevy Colorado, the Ford Ranger will maintain its value better, according to estimates from Car Edge.
Full-Size Pickup Truck Resale
The Chevrolet Silverado and GMC Sierra hold their value better than any other pickup truck. At three years of age, the Silverado will remain about 87 percent of its value. Its stable mate, the Sierra, should maintain up to 85 percent of its value over the same time.
When buying a vehicle — new or used — research before you buy
Aside from purchasing a home, a car is a second largest expense most people incur. However, unlike houses, many vehicles lose value quickly, especially if you buy the wrong one.
As the above information shows, some used cars, less than five years old, have more value than when they were new. This oddity in the automobile market is due to the market trends of the last few years.
With that in mind, if the new vehicle you are looking at is valued almost the same as a three-to-five-year-old model, buy it because it is the best value and has a new warranty.
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