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- Two SUVs from luxury brands round out the list, including the fifth-ranked BMW X5 midsize crossover SUV and the ninth-ranked Lincoln Navigator L full-size SUV. “The BMW X5 has a higher than average starting price for the class as well as a high cost of ownership and high repair costs, all contributing to the vehicle’s steep depreciation,” said Brauer. “The Lincoln Navigator L is a common fleet and livery vehicle, which depreciate more than privately owned vehicles.” - Source: Internet
- Luxury sedans account for six models on this list, including the third-ranked BMW 7 Series superluxury sedan, the fourth-ranked Maserati Ghibli, the sixth-ranked Jaguar XF, the seventh-ranked BMW 5 Series, the eighth-ranked Audi A6, and the tenth-ranked Volvo S60. “Luxury buyers want to be seen in the latest version of their preferred model, but that status fades quickly after a luxury vehicle drives off the lot, drastically reducing these models’ value on the secondary market,” said Brauer. “Moreover, the popularity of sedans has declined, so the price has to significantly drop to make these vehicles desirable to used car shoppers to compensate for their high operating costs and outdated technology.” - Source: Internet
- “We’ve seen record high used car prices over the past 15 months as a result of the microchip shortage, and that has slowed down the average depreciation rate across all vehicles,” said iSeeCars Executive Analyst Karl Brauer. “Vehicles that have historically maintained their value well have depreciated even less this past year, but even in today’s market some cars continue to drastically drop in value.” - Source: Internet
- Sports cars account for five models on the list including the third-ranked Porsche 911, the sixth-ranked Ford Mustang, the seventh-ranked Chevrolet Corvette, the eighth-ranked Chevrolet Camaro, and the ninth-ranked Dodge Challenger. “Along with the 911’s timeless design and reputation for reliability, Porsche sells few 911s relative to market demand, so there aren’t many 911s in the used car marketplace,” said Brauer. “The Mustang, Corvette, Camaro, and Challenger are all classic American sports cars with an aspirational appeal for many consumers, and drivers are likely more willing to pay a premium for them, especially because they aren’t as common in the used car marketplace.” - Source: Internet
- iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $312 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars. - Source: Internet
- iSeeCars.com analyzed more than 800,000 used cars from model year 2016 sold between January and August 2021. Heavy-duty trucks and vans, models no longer in production as of the 2021 model year, and low-volume models were removed from further analysis. MSRPs from 2016 were inflation-adjusted to 2021 dollars, based on data from the US Bureau of Labor Statistics. The difference in average asking price for each vehicle between its MSRP and its used car pricing was mathematically modeled to obtain the vehicle’s 5-year depreciation. - Source: Internet
- The average car depreciation over the first five years is 40.1 percent, and the five-year-old cars with the best resale value depreciate 1.6 to 4.4 times less than average, as shown below. - Source: Internet
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