The Ford Truck With the Best Resale Value in 2023 Isn’t the F-150
There’s still no question the Ford F-150 continues to enjoy its view from the top as a Blue Oval bestseller. But that doesn’t mean it boasts the best resale value. Another Ford truck holds that distinction: the Maverick. Here’s how these two hot-selling Ford pickups compare in resale value and depreciation.
Does the Ford F-150 have good resale value?
Consumers expect their brand-new vehicles to lose value when driving off the dealership lot. But you hope that when you buy a new 2023 Ford F-150, the depreciation won’t be substantial, allowing your pickup to retain decent resale value. According to J.D. Power, this Ford truck’s resale value is “great,” with the 2023 F-150 earning a score of 81 out of 100 in predicted depreciation over the next three years.
To know what your specific Ford F-150 is worth, you can use Edmunds’ appraisal calculator. It prompts you to configure your truck with amenities and extras and specify its condition. For instance, a used 2023 F-150 XLT four-door SuperCab with a 6.5-foot bed and 3.3-liter six-cylinder engine with no options is worth an estimated $35,000 to $39,000. That depends on its condition, the location, and whether you’re estimating trade-in value, private-party resale, or dealer retail values. The starting MSRP for this 2023 F-150 trim is $44,000.
Kelley Blue Book expects F-Series trucks, including the F-150, to retain 57.3% of their value after five years.
What is the Ford Maverick’s resale value?
Using the same metrics, we can see the popular 2023 Ford Maverick is better at retaining its value than the F-150. The compact pickup’s J.D. Power resale score is 93 out of 100, earning it the “best” status.
Edmunds has estimated resale values for the Maverick, too. On the low end, based on condition and trade-in values, the Maverick still maintains its worth between about $25,700 and $25,600. At the high-end dealer retail value, it’s worth an estimated $29,500 to $30,800. Over five years, this pickup is expected to depreciate less than $14,000.
Even more impressive is the Maverick’s appearance on Kelley Blue Book’s top 10 vehicles for resale value in 2023. The Maverick ranks eighth, with a five-year resale value of 61.7% (remember the F-150’s is 57.3%). It’s not far behind the No. 1 Toyota Tundra, holding 73.3% of its value after five years.
How resale value and depreciation weigh on your buying decision
The average vehicle of any make or model tends to be worth only 69% of its original value after two years. By year three, the average car is worth 58% of its value. Given those averages, the Ford F-150 and Maverick hold their value well. But the Maverick holds more and for longer.
Depreciation and resale value should matter whenever you buy a new vehicle. The first reason is more obvious. You’ll want to recoup as much as you can when you decide to sell. But there are other factors, like insurance coverage and lending terms, to consider. You could find yourself upside down on a truck loan if you buy a pickup that loses too much of its value. And even if you plan to keep your new truck forever, getting in an accident and estimating repairs for a highly depreciated vehicle won’t be helpful either.
This small pickup is a money-saver in other ways, too. For example, its outstanding fuel economy ratings of 40 and 33 mpg mean driving up to 500 miles on a full tank of gas. Additionally, the Ford Maverick is a TikTok sensation, earning over 10 billion views. It’s a Millennial and Gen-Z favorite thanks to its style, affordability, efficiency, and practicality.
If you want a truck but don’t need full-size capability, check out the Ford Maverick. It’s the cheapest Ford model, affordable to own, and among the best at retaining its value.