6 Cars That Are Plummeting in Value
Written by
Cameron Diiorio
Edited by
Cory Dudak
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When buying a car, many people hope to make a worthwhile purchase that will serve them for an extended time. Then, when they’re ready to upgrade to a new vehicle, people hope to get a decent amount of money when they decide to sell their used ride.
For those looking for cars with long-lasting value and the ability to sell them later at a reasonable price, these options are not for you.
Here are six cars that are quickly losing value:
1. Hyundai Genesis
The Genesis is a two-door coupe and part of Hyundai’s luxury line, with prices rivaling Lexus and Acura. But be warned: “The Hyundai Genesis has a speedy depreciation of 38% of its retail value in its first year,” according to Megazinos.com.
It’s recommended to buy this car used, as it will quickly lose value.
2. Kia Cadenza
The Cadenza is part of Kia’s line of pseudo-luxury vehicles. This larger sedan is a better choice when used as, similar to the Genesis, it will lose 38% of its value within the first year.
3. Maserati Ghibli
Certain luxury vehicles also face similar issues with depreciation. The Ghibli, a sporty sedan from Italian automaker Maserati, is a higher-end luxury vehicle. However, the Ghibli comes with its own set of problems, including cheap bits such as window controls.
“Its stout starting price and questionable reliability both play a significant role in the car’s quick loss of value,” U.S. News said.
Over five years, the Ghibli will depreciate by 56.3%. This is due to its lower-end parts and reliability issues. It may be better to look elsewhere for a luxury car if you’re looking to sell your ride later.
4. BMW 7 Series
With the luxury price tag comes top-of-the-line features and the latest and greatest car technology. However, this can also mean that the carmaker is continuously competing against itself — something that is the case with the BMW 7 Series.
“Newer models come with dazzling tech and posh cabin finishes, but their exorbitant price tags and strong competition drive their resale prices down quickly,” said U.S News.
The 7 series drops in value as they keep pumping out cars that push today’s technological boundaries. Over five years, the BMW 7 series will depreciate by over 50%.
5. Ford Expedition
This large vehicle is one of Ford’s best-selling SUVs, and it will rapidly depreciate over five years.
“The Expedition may be great at carrying families, but it’s not so awesome at holding its value,” U.S. News said.
Consumers can look to other SUVs that will take their money further over the years. The average depreciation value for the Ford Expedition is 50.7% over a five year period.
6. GMC Yukon
Another large SUV, the Yukon is a reliable car. This sturdy family vehicle is coveted by parents with busy kids. Unfortunately, it is also a gas-guzzler.
The Yukon will have a first-year depreciation of 33%, according to Megazinos.com. Though reliable and perfect for transporting big families, it’ll depreciate quickly because of its questionable gas mileage.
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