Luxury Cars Worst On Resale Value, Pickups Best
Which vehicles are best when it comes to retaining value?Pickup trucks, famous for their rugged construction, generally fair best when it comes to depreciation and luxury cars fare worst, a study by an auto website, CarGurus.com, finds.
The study looked at the prices of used cars from the 2008 to 2012 model years from March 2013, to March 2014. Some 577 models were studied, with the median model losing 9.8% over the one-year period.
The 2012 Ram pickup fared best in the study for retained value on a list that also included the Nissan Titan, Ford F-150 and Chevrolet Silverado, along others. The highest-ranking used car on the list was the Dodge Charger in third place.
Among biggest losers, the list includes 2010 BMW 3 Series, 2012 Mercedes-Benz E Series, 2008 Volvo XC90, 2009 Audi A4, 2009 Cadillac STS and 2012 Cadillac SRX.
“Luxury cars tend to be loaded up with options, and we found that options do not hold value,” says Langley Steinert, founder of CarGurus.com. When used car buyers go shopping they don’t care about (fancy) wheels and navigation. It’s about the year and mileage.”
The best vehicles for holding their value over that one-year period were all 2012 models, except the one model as indicated. They were, starting with the best:
- Ram 1500
- Nissan Titan
- Dodge Charger
- Ford F-150
- Chevrolet Silverado 1500
- Jeep Liberty
- Ram 2500
- 2008 Dodge Ram 2500
- Jeep Wrangler
- Chevrolet Tahoe