If you are looking for a truck or SUV that you can sell for a reasonable amount down the line, Kelley Blue Book has your back. Unsurprisingly, most of the vehicles on the list for the best resale value awards are trucks and SUVs. In fact, only two cars made it on the list. The options on this list retain retail value better than 95% of other vehicles on the road.
What is resale value, you might ask? Kelley Blue Book says it is the predicted market value of your vehicle when you sell it. This is important because all new cars lose value when driven off the lot, but you want to be able to resell your car, truck, or SUV at some point.
Trucks swept Kelley Blue Book’s best resale value awards
It probably comes as no surprise that Toyota trucks made up a portion of Kelley Blue Book‘s resale value awards. The 2022 Toyota Tundra is in the number one post with 70.2% for the five-year resale value. The average new car will lose about 40% of its original sticker price in the first few years.
In second place is the 2022 GMC Sierra at 60.8%, followed by another Toyota truck. The 2022 Toyota Tacoma is in third place with 60.6%. KBB tied fourth place for the 2022 Ford Maverick and the 2022 Chevrolet Corvette at 59.5%, one of the only actual cars on the list. The 2022 Toyota 4Runner came in with 58.6%, followed closely by the 2022 Tesla Model X. The Ford F-Series truck, Ranger truck, and Jeep Gladiator round out the list.
If you have glanced at the used car market lately, these stats make a lot of sense. People want a reliable truck or SUV without paying MSRP for it, which makes sense. Unfortunately, it seems everyone has the same thought right now.
Subaru swept Kelley Blue Book’s 2022 Best Resale Value for SUVs
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When it comes to strictly SUVs, the 2022 Subaru Crosstrek started the list with 52.3%. Kelley Blue Book says the subcompact SUV starts at $22,645. The 2022 Subaru Forester (47.2%) and Outback (45.2%) are next in line with some of the best resale values in the game. The 2022 Kia Telluride (51.9%), GMC Yukon (47.2%), and 2022 Toyota 4Runner (58.6%) also made the list. That makes the Toyota 4Runner the SUV with the best resale value, but Subaru had the most options on the list.
The 2022 Volvo XC40 is the only Volvo on the list, with the subcompact luxury SUV offering a 39% resale value. Some luxury SUV options are the 2022 Mercedes-Benz GLB at 41.1% and the 2022 Range Rover Velar at 36%. The GLB starts at $38,600, and the Velar starts at $58,300.
At the end of the list was the 2022 Lincoln Aviator at 41.5% and the 2022 Lexus LX at 45.2%. Right now, these SUVs are probably pretty hard to come by, making the resale value even higher.
Toyota swept the awards from Kelley Blue Book, followed by Lex
Kelley Blue Book gave Toyota the 2022 Best Resale Value for brands. Lexus came in first when it came to luxury brand offerings, which makes sense. Toyota took this title for the fifth time in six years, winning five categories. That is a good sign for those looking for a truck or SUV with good resale value. Lexus took home the luxury brand resale value award for the seventh time.
The 2022 Chevrolet Corvette was the car with the best resale value, coming in at 59.5%. The sports car starts at $60,900, which means you can still anticipate paying quite a bit for a used Corvette. Right now, many used versions are even selling for more than a new Corvette due to inventory shortages all over.
Consider your truck or SUVs resale value is a good idea, but it can be hard to know where the market will be in a few years. Right now, the price of used cars is exceeding the price of new cars, which is great for resale value but certainly wasn’t expected. As always, keep up with the routine maintenance on your cars, trucks, and SUVs.