The Most Comfortable Truck Has 1 Weak Resale Value
You would think that being comfortable would help your value, but this doesn’t seem to be the case for the Ram 1500. The 2023 Ram 1500 is falling behind rivals with a weaker resale value, but something must not be adding up. It’s a comfortable, spacious, and durable workhorse!
Does the 2023 Ram 1500 have a good resale value?
The 2023 Ram 1500 has a pretty good resale value, but it’s not the best. It’s also not keeping up with rivals. After five years of ownership, the average Ram truck is expected to retain about 75.0% of its worth.
This probably isn’t a surprise, but the 2023 Ford F-150 is the full-size truck with the best resale value. It should maintain about 86.8% of its value after five years. On the list of the 101 vehicles ranked by value, the Ram 1500 landed in 82nd place.
The Nissan Frontier came first with the highest resale value of roughly 88.6%, which is excellent. The GMC Yukon XL landed in last place and only maintains about 68.4% of its value.
Also, a Ram 1500 may depreciate in value by about 31% after five years to maintain a resale value of $38,539. This is still good, but the Nissan Frontier and Ford F-150 could have a better return.
What potential Ram truck problems impact its resale value?
The 2023 Ram 1500 might not have the best resale value due to its higher starting price. The Ram 1500 starts at $37,905, and the 2023 Ford F-150 begins at about $34,484. That’s a $3,412 difference in price before destination fees and dealership markups come into play.
Higher prices typically make vehicles lose value more quickly. Plus, there is less demand for the Ram 1500. The Ford F-150 sold 170,337 units during the first quarter of 2023, and Ram moved about 105,350 models.
So, Ram started the year trailing Ford by 64,987 units. With more supply and less demand, prices tend to decrease. But production could still be lagging, meaning there could be fewer trucks available to buy.
While critics admire the Ram 1500 for having the most interior space, comfortable seats, the quietest interior, and the smoothest ride quality, it is not perfect.
The 2023 Ram might seem dated. It was last redesigned in 2019, while the remodeled Toyota Tundra debuted in 2022, the Ford F-150 was refreshed in 2021, and the Chevy Silverado was updated for 2022.
While the Ram 1500 does have good tech, it might be time for larger screens, updated graphics, and more advanced features. Plus, it has a long list of available options that come standard with rivals.
How reliable is the Ram 1500?
J.D. Power gave the 2022 Ram 1500 a reliability rating of 80 out of 100. The 2023 model will probably have a similar score because not much changed between model years.
This is an average score. Anything between 70 and 80 is average, while scores between 81 and 90 are above average. So, the Ram truck is only one point away from being in the above-average category. Meanwhile, the Ford F-150 earned an 86.
The average 2023 Ram 1500 model is expected to last between 250,000 to 300,000 miles. Some models even surpass 300,000 miles. The Ford F-150 has a similar longevity.
If you drive an average of 15,000 miles per year, then you could get up to 20 years of service on the road. That should boost your confidence in Ram.
The Ram 1500 is still the most comfortable truck, but that’s not everything to the average buyer. It doesn’t have as good of a reputation for reliability as other trucks and is starting to show its age. Stay tuned as we continue tracking sales figures and resale values.