Avoid Buying These 10 Cars That Will Lose Value in Less Than 10 Years
America loves its cars, and it loves products that retain their value over time. Unfortunately, these two things are largely mutually exclusive. The truth is: No matter how low you keep its mileage and how well you maintain it, a new car loses value very quickly.
According to auto authority Edmunds, a new car loses around 11% of its value the moment you leave the lot and 15% to 25% each of its first five years of ownership. After five years, your still-spunky car will be worth just 37% of what you paid for it. After 10 years, you’d be lucky to get a buyer to pay 10% of the original price.
When Zutobi updated its 2023 Motoring Depreciation Report last June, it found that the Kia Sorento, the Chevrolet Trax and the Mercedes GLE-Class lost the most value among U.S. vehicles, dipping 55.16%, 50.31% and 48.85%, respectively.
However, that study tracked three-year depreciation rates. When looking at car values over five years, iSeeCars, an auto search engine, found that luxury-brand cars and larger vehicles tend to depreciate more rapidly than moderately priced, non-luxury models.
“Just as higher gas prices increase demand for fuel-efficient vehicles, they also decrease demand for full-size SUVs like the extra-large Cadillac Escalade ESV and Lincoln Navigator,” said Karl Brauer, executive analyst for iSeeCars.
Additionally, luxury-inclined drivers are likely willing to pay a premium and want to drive new cars, while many used-car buyers simply want affordable, dependable transportation.
10 Cars That Will Lose the Most Value in Less Than 10 Years
When shopping for a new car, depreciation down the road isn’t a high priority. But it isn’t something to neglect either. Cars are always expensive, so buying a replacement sooner than you’d like is something you want to avoid, as are these 10 cars that lose their value the fastest, according to iSeeCars research.
Ford Expedition
- Average five-year depreciation: 50.7%
Volvo S90
- Average five-year depreciation: 51.4%
Audi 6
- Average five-year depreciation: 51.5%
Lincoln Navigator
- Average five-year depreciation: 51.9%
Mercedes-Benz S-Class
- Average five-year depreciation: 51.9%
Cadillac Escalade ESV
- Average five-year depreciation: 52.3%
Infiniti QX80
- Average five-year depreciation: 52.6%
Jaguar XF
- Average five-year depreciation: 54.0%
Maserati Ghibli
- Average five-year depreciation: 56.3%
BMW 7 Series
- Average five-year depreciation: 56.9%
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