Now that used car values are skyrocketing, you might wonder what your vehicle is worth. Selling outright could bring you a windfall. But if you have a Buick in the garage, you might be in for a surprise. Despite the surge in used car values, three Buick SUVs have the worst resale value in 2021.
Some used models are selling for more money than new ones
Because so many new cars never made it to market due to automaker shutdowns and the semiconductor chip shortage, vehicle supply dwindled. When the world reopened after pandemic restrictions eased, the flood gates of lease returns, hesitant car buyers, and fleet purchasers raced to dealerships. But with so few new models in stock, the focus shifted to buying used cars to meet needs.
As the natural flow of supply and demand goes, those used car prices began skyrocketing. Nearly every automaker felt the effects. But average vehicle owners noticed something at their end too. Resale values of their rides were rising.
Models with the highest resale value right now include the Toyota Corolla, retaining 60% of its value over five years, Motor1 reports. And the Chevy Corvette boasts an astounding residual rate of 67.4%.
But these 3 Buick SUVs have awful resale value
MotorTrend recently covered the vehicles with the lowest resale value. For one reason or another, these SUVs and crossovers didn’t get the memo on rising resale values. Across the board, the average SUV has a 48.9% resale value overall. The average car hovers around 46.5%. But if you own one of the following Buick crossovers, you might be stuck with below-average value retention.
The 2021 Buick Envision got a facelift and complete redesign for this model year. But despite the positive feedback from consumers and critics, this compact crossover’s Envision’s resale value isn’t through the roof like many other luxury SUVs and crossovers. IntelliChoice data suggests the projected resale value for this year’s Buick Envision is only 41.1%.
The 2021 Buick Encore doesn’t fare well either. It’s expected to hold on to only 42.1% of its resale value. CarEdge.com‘s calculations put the Encore at 52% depreciation, making this subcompact crossover worth about only $13,489 in five years.
Last, the 2021 Buick Enclave also makes this worst-resale-value list. The midsize SUV is projected to retain only 42.1% of its off-the-lot value after five years.
Other resale values according to the projections
Sure, Buick SUVs aren’t riding the wave of higher resale values right now. But other SUVs appear on MotorTrend’s list. For example, the 2021 Cadillac XT5 retains only 42.1% of its value, while the 2021 Lincoln Nautilus retains 41.5%.
If you drive a Lincoln Navigator, the resale value might sting a little, too. The extended-length Navigator L is said to retain only 41.4% of its value. The standard version of this luxury SUV is a little higher but still below average with its 43.5% value.
Depreciation on a 2021 Mitsubishi Outlander doesn’t look good either: Its projected value after five years is only 40.8%.
The pandemic turned the auto industry upside-down in 2020. Though many used cars have seen significant increases in value, the above SUVs have been left behind. And Buick crossovers have the dubious distinction of having among the lowest resale values.