Typically, when you buy a vehicle off the lot it starts depreciating in value very quickly due to the nature of the car market. Many people feel a new car is practically almost a used car as soon as you buy it! However, certain models have a higher resale value compared to others — this is why car comparison is so important in the early stages of buying a car. Vehicle resale value is the amount a vehicle is expected to sell for at some point in the future, which impacts the amount of money you can get back in a trade-in or sale. Factors like age of the vehicle, kilometres driven, and other variables can influence how high or low this value is. A high resale value means you’re able to sell your car, truck, or SUV for more, and low resale value for less — so a vehicle with a good resale value could mean the difference between picking a brand new car from a dealership or a used car held together by duct tape and hope from Kijiji when it comes time to move on.
We’ve done the hard work for you and compiled a car comparison guide below of the best trucks and work-capable vehicles in terms of resale value for 2018. These results and numbers are taken from the Kelley Blue Book. They are known for their expertise in taking multiple factors into account and providing accurate results for both new and used cars. Keep in mind that this countdown isn’t absolute and subject to change with market trends, so take it with a grain of salt.
8. 2018 Chevrolet Colorado
Image Credit: Chevrolet
Kicking off our countdown is the Chevy Colorado. The 2018 truck comes equipped with all the latest and greatest ‘infotainment’, and boasts great fuel efficiency and a comfortable ride on pavement. You’ll also be able to get an approximate 60% resale value back after 36 months meaning you can comfortably put a sizeable down payment on that Corvette you’ve been eyeing when you’re ready to trade in the truck lifestyle for something a little flashier.
7. 2018 Ford F-150
Image Credit: Ford
In terms of car comparison factors, the F-150 does drop slightly compared to the Colorado’s 36-month resale value at approximately 59% but it does have a better long-term resale value at 60-months, with a good-quality model expected to return approximately 50% of its original value. In addition to its strong resale value, the 2018 F150 is a strong contender for this year’s best pickup truck overall. In particular, it has an excellent engine fully capable of towing most trailers. The Lariat version stands out as a great balance between luxury and practicality.
6. 2018 Chevrolet Silverado
Image Credit: Chevrolet
Chevrolet had an excellent year for work-friendly vehicles with high resale value retention, making a second appearance on our list with the Silverado. Very similar in resale value to the Ford F-150, the Silverado edges it out by mere decimals overall. With a variety of different engines, you can be sure you’re buying the Silverado that suits you and your needs the best. The handling is also quite agile for a truck of its size, and an easy towing setup makes this truck a great choice for many people looking into new or used cars.
5. 2018 GMC Sierra
Image Credit: GMC
… Look I know what you’re thinking: “The last truck, pshh, yeah right. This is all just trucks, who is this guy trying to kid?” Trust me the next one will be something else. In any case, the GMC Sierra finds itself next on our list; after 36 months still retains an approximate 58% resale value and after 60 months a 52% resale value. A 2% increase may not sound like much over the last two trucks, but that can amount to around $750 or more back in your pocket. This year’s Sierra is equipped with an outstanding off-road performance package and excellent traction control options that make it a great choice of an outdoor truck.
4. 2018 Jeep Wrangler
Image Credit: Jeep
See! You just had to wait long enough—it was worth it for this surprise. Yes, believe it or not, the 2018 Wrangler is in the top five for the best vehicles that hold their value. Okay, you can take your jaw off the floor now. It stands out above the rest with an approximate 65% resale value after 36 months. The Wrangler also maintains its excellent off-road capabilities with the 2018 release — in comparison with some of the other vehicles on this list, that’s a huge feature in a resale-friendly vehicle. The automatic model has an especially smooth ride changing between gears as well, making your drive that much more comfortable.
3. 2018 Toyota 4Runner
Image Credit: Toyota
While not quite a truck, the Toyota 4Runner can definitely act like one with its incredibly strong capability and outstanding off-road performance. While you’d think that a model of SUV that spends a lot of time on uneven terrain would be lower on the resale value, that’s not the case with the 4Runner. Like the Silverado, the 4Runner only just edges out the Wrangler in terms of comparative resale value by a couple decimal points.
2. 2018 Toyota Tundra
Image Credit: Toyota
The pickups are back baby! The Tundra rounds out the number two spot on the countdown with excellent outdoor performance and a roomy cabin for all the road essentials. It also has an exceptional resale value, just edging out the 4Runner. It might not be the best-selling pickup, but it definitely holds its value. This is great if (or when) you decide to sell it.
1. 2018 Toyota Tacoma
Image Credit: Toyota
It wouldn’t be a Canadian car comparison countdown if Toyota wasn’t at least in the top three. And lo and behold, it’s a pickup (are you really that surprised considering the countdown up to this point?) that holds its value the best out of the 2018 models with an approximate 70% resale value after 36 months and 61% at 60 months. The features and build of the Tacoma also make it a versatile pickup truck along with its outstanding safety features making it a great (and safe) buy for any truck lover.
Clearly, in terms of car comparison between the different brands, makes, and models, 2018 is a year defined by pickups (at least in terms of projected future resale value). While these will give you the highest return if you choose to sell your vehicle, you should still choose the vehicle that’s best for your needs. Pickup trucks might be great for the outdoorsy, but they’re lousy for the soccer mom (so maybe check out the Toyota 4Runner instead!). Get the vehicle that’s right for you.
*Sources:
https://www.kbb.com/new-cars/best-resale-value-awards/best-resale-top-10-cars/