Buying a new car or truck is one of the most important financial decisions we make. It’s a big ticket item that affects multiple facets of our daily lives.
For most of us, the price tag remains the top dog when it comes to car buying decisions. But, it would be a mistake to overlook the importance of a car’s resale value. After all, owning a car that retains its value could save you thousands of dollars in the long run.
Which is why Kelley Blue Book compiled a list of the 10 vehicles with the best resale value on sale in the US.
After five years of ownership, the publication’s data indicates that the average new car is worth only 33% of its original sticker price. However, the 10 vehicles featured on this list held an average of 50% of its value. On a $30,000 ride, that translates to an extra $5,000 in the owner’s bank account after five years, KBB wrote.
Incredibly, seven of the 10 vehicles on the list are pickup trucks. Two others are SUVs. Only one passenger car, the 2017 Subaru WRX, made the list in 10th place.
The US truck market is booming. Through June, automakers sold more than 1.3 million pickup trucks in the US. And this popularity is trickling through to the second-hand market. Even though trucks tend to have higher initial transaction prices than its passenger car counterparts, its ability to retain value along the utility it delivers make for an appealing offering.
General Motors and Toyota dominate the top 10 while Honda and Jeep also make an appearance.
Here’s a closer look at the 10 vehicles with the best resale value in the US.