Depreciation is one factor that affects the value of a vehicle. The factor of depreciation kicks in the moment you take your car for its first ride. It becomes an even more critical factor when you purchase your car on finance.
Depreciation is the financial sum that an asset loses over time. It is one factor that results in the drop in the value of an asset. Place the value of a new car's depreciation on a graph and you will notice how the value changes over time, signaling a sharp decline in the price of the car.
As a buyer of an asset you will want the value of your car to stay as high as possible. This is why you need to be cautious when choosing a vehicle.
Here is a compilation of 15 cars that lose the least value during their first year, helping you in saving a significant sum.
15. 1993-97 Toyota Land Cruiser
The first vehicle that makes our list is the Toyota Land Cruiser. While all Toyota Land Cruisers offer great depreciation value, it's the FZJ80 that is the best bet. The car comes with robust axles and has a trio of locking differentials. The FZJ80 was an unstoppable car during the '80s and is still considered one of the best.
14. Porsche 718 Cayman
This is the least expensive model available in Porsche's illustrious lineup. The Cayman is still an ideal purchase as it retains 58.4% of its value after three years. This is significantly better than some other cars on the block. The mechanics of the car are not a let-off either, making it a good buy.
13. 2001-2006 BMW M3
This is another car that is not likely to depreciate much. The car comes with an automatic transmission and is ideal for users looking for a comfortable drive. The automated climate control setting and the heated leather seating of the car are additional features that you will enjoy when driving.
12. Chevrolet Traverse
Chevrolet Traverse is a family car that offers great value to its owners. In addition to the remarkable features and excellent control, the owners of the car now enjoy an excellent 11.4% loss of value in a year. The updated model however, sells at a higher price than the previous models.
11. Honda Civic Hatchback
The Honda Civic Hatchback is another car that is extremely popular for its reliability and durability. The car is available at a depreciation rate of 11.9%, which results in a drop of $2,704 in its final value. The average ownership cost of the vehicle has led to an upsurge in the demand for used cars in the market.
10. Honda Fit
The Fit is another car by Honda that occupies a spot in the list. The car delivers a great performance with its family-friendly service. The performance is backed with reasonable prices and a depreciation value of 12.5%, which drops its value by $2,111 in a year.
9. Subaru Crosstrek
Supply shortages in 2019 meant that there was a surge in the demand for lightly used vehicles. This is where the Subaru Crosstrek comes to the scene and offers users with a great depreciation value of 13.1%. The depreciation value results in a drop of $3,138 for the vehicle.
8. Chevrolet Corvette
Dealers around the world are spreading good word about the Chevrolet Corvette. The discounts offered on the eight-generation model means that the difference between buying a new one or a used one is considerably less. The Corvette has a depreciation value of 13.6% and amounts to a drop of $8,113.
7. Honda Accord
The Honda Accord is already a popular car amongst the masses in the U.S. The sedan is ranked eleventh in the list of bestselling vehicles in the U.S, which is no surprise, considering the features it offers. The car loses a value of 13.7% each year resulting in a drop of $3,177.
6. Honda Ridgeline
This iconic car by Honda went through a major upgrade in 2020 resulting in the addition of rear doors that open at a wider angle. The upgrade means that the car loses 13.8% of its value after a year resulting in a loss of $4,663. Considering the features of the car, this is a decent bargain.
5. Dodge Charger
The Dodge Charger series is another series of iconic cars that is renowned for producing great cars for its fans. The car starts with a depreciation value of 13.9%, which means that it loses $4,097 in one year. Since there are many variants to the series it is unclear to determine the exact depreciation for the other models.
4. Jeep Wrangler
Another car that is a symbol of American culture is the Jeep Wrangler. The car is considered the ultimate adventure vehicle for off-loaders. The car has a depreciation rate of 31.5% in five years’ time, which means the depreciation rate is 6.3% annually. This is why the car is considered one of the best in the region.
3. Toyota 4Runner
Toyota is a great car manufacturer and the 4 Runner is one vehicle that is a heavy favorite amongst car enthusiasts. In addition to the great features the car offers, it is the depreciation value of the car that makes it a standout. The car depreciates at a value of 36.5% in five years, which is considerably low.
2. Toyota Tacoma
Out of all the pickup trucks popular in the U.S. market, the Toyota Tacoma holds great value amongst the masses. The car depreciates a value of 32% in five years, which is considerably above the average rate of depreciation. The vehicle also offers great features to its users.
1. 1978-86 Ford Bronco
The Ford Bronco is a compact SUV that provides users with the class of driving a vintage car and an excellent depreciation value. The car is considerably cooler than other versions and is quite reliable too. Get your hands on one of these vintage cars and enjoy the perks of driving a car with low depreciation value.