The 15 Cars That Hold Their Value the Longest

Just a few years ago, it was a very common belief that all cars began to lose value the moment they were purchased and driven off the lot. However, during the COVID-19 pandemic, supply chain shocks, as well as changes in customer preferences, have led to unprecedented times – as new cars became in increasingly-short supply, the price of many used vehicles rose. (These are the best and worst-built cars in America.)

Not only did many cars manage to retain their value very well compared to periods before the pandemic, but the price of some cars surged so much that they actually increased in value over the past three years.

To find the cars that hold their value better than any other in America, 24/7 Wall St. reviewed car research and sales site iSeeCars’ recently-published report, Top 10 Cars That Hold Their Value the Best. iSeeCars considered 3 million used cars and trucks from model years 2017 through 2019 that sold in 2022 and measured the change in value from base price three years ago to current used price. The 15 models listed here are ranked by the three-year percent change in value. iSeeCars adjusted MSRPs from 2017 and 2019 to 2022 dollars. 

On average, used cars only decreased in value by 17% in three years, the smallest drop on record, according to iSeeCars. Fuel-efficient vehicles, like hybrids and smaller cars and SUVs, held their value the best, likely due to the increase in gas prices in 2021 and 2022. Certain larger luxury cars depreciated the most.

The price of sports cars like the Porsche 911, Ford Mustang, and Chevy Camaro increased during pandemic lockdowns, likely because they were a means of fun and escapism, according to iSeeCars. Prices remained high after lockdowns were lifted. Two sports cars are in the top five cars that best retain their value and four are in the top 15. (This is the fastest car in the world.)

Compact SUVs also retained value particularly well, and four of them are in the top 15. The rest of the vehicles range in type but are generally on the smaller side. Toyota has the most vehicles in the top 15 with four, followed by Porsche with three. (These are the least appealing car brands to Americans)

Click here to see the 15 cars that hold value the longest.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Source: Read Full Article