If you’re stepping up for a new pickup truck in 2022, you’re paying dearly. So you don’t want it to depreciate quickly; you want your truck to have as much value as possible. Most truck owners see the fastest amount of depreciation within the first five years. Can you do something to slow it down?
On average, trucks depreciate roughly 15- to 25-percent a year. But the first year of ownership is the killer; it will drop in value by around 30-percent. By the fourth year, it loses another 10-15-percent, and then after five years, it has lost about half of its original value.
For comparison, cars lose between 50- and 60-percent of value after five years. But you’re here for the trucks. So here’s the list of the top 10 pickups with the fastest depreciation.
Surprisingly, the most popular vehicle in the country also depreciates the fastest. The Ford F-150 will see a 47-percent decrease in value after five years. This can be partially attributed to the fact that being the most popular, there are also more of them. It’s that supply and demand thing.
Nissan’s Titan depreciates slightly less than the F-150, dropping 46-percent after five years. Some of this is due to it being the truck produced the least, which indicates the demand is not there. Gas mileage and limited options also don’t match some of the other trucks on this list.
The popularity of the Ram pickup, which saw an all-new version in 2019, has helped to hold its value. But it still comes in third at 42-45-percent depreciation after five years.
GMC Sierra 1500
GMC’s Sierra 1500 is almost identical to the Chevy Silverado, yet depreciates more than its counterpart at 43-percent. But the Silverado isn’t that far behind…
Chevy Silverado 1500
At a 42-percent depreciation value after five years, the Sierra and Silverado 1500 see almost the same value drop, which makes sense. But this could help to get you into a Sierra cheaper than a Silverado.
Attesting to its popularity, the Ranger drops in value around 41-percent after five years. But it is also the compact pickup seeing the most depreciation. Others are further down on this list.
The Nissan midsize Frontier pickup has always held its value from its long track record of durability and quality. It depreciates around 37-40-percent after five years.
The full-size Tundra holds up well value-wise. Seeing depreciation of 36-percent, it depreciates the least of the full-size trucks that aren’t in the work truck-only category.
Chevy Silverado 3500
The Silverado 3500 does fall into the classification of a heavy-duty truck used mostly as a work truck. Its depreciation rate is 34-percent. Those with the dual-rear-wheel option depreciate even less, depending on condition and mileage.
At a depreciation rate of 32-percent, the midsize Tacoma is the best of our 10 trucks for the least amount of depreciation. Its fuel economy and durability are both factors in its good numbers.
What determines truck depreciation?
What causes fluctuations in depreciation are a number of factors. The mileage is probably the biggest factor in how much value a truck loses. Obviously, the more miles on the ticker, the less it is worth.
Fuel Economy is another factor, especially when we see gas prices rising as fast as they are right now. Next would be how many options does it have. Just like all new vehicles, the more it has the more it is worth.
Finally, what condition is it in? Especially trucks can be used and abused by the nature of what they are. So the more pristine it is, the more attractive it is to buyers. That in itself raises its value.