Which SUV Has the Worst 5-Year Depreciation Rate?
Some vehicles depreciate faster than others. Vehicles with a high depreciation rate often have low resale value. So, if you purchase a vehicle with the intention to sell it after a short period of ownership, it’s best to choose a vehicle with a low depreciation rate. One SUV model has the worst-five year depreciation rate of all.
This American SUV losses thousands in value in five years
CarEdge.com ranked the brands and vehicles with the worst resale value from worst to best. It found that Buick vehicles had the worst resale value after five years.
As for vehicles, CarEdge.com claims that the GMC Yukon XL has the worst depreciation rate/resale value of all the 101 vehicles that it evaluated. According to the automotive publication, the Yukon XL only retains 68.38% of its value after five years. So, it loses 31.62% of its value in five years.
The 2023 American full-size SUV starts at $60,100. If CarEdge’s findings are accurate, the Yukon XL will depreciate by roughly $19,232. Its resale value will be just $40,868. The large SUV will depreciate even quicker after five years.
So, who cares how quickly a vehicle depreciates? Depreciation is important because a GMC Yukon XL driver could lose big bucks reselling the vehicle. So, if you don’t plan on owning the full-size SUV for well over five years, don’t expect to recoup a large percentage of what you spent on it on the resale market. A high depreciation rate doesn’t necessarily mean a vehicle is bad. It just suggests that you may be better off owning it for a longer period of time rather than reselling quickly.
Is the 2023 GMC Yukon XL a good SUV?
The 2023 GMC Yukon XL is a full-size that competes with the best models in its segment. It rivals the Chevrolet Tahoe, Chevrolet Suburban, and Jeep Wagoneer.
It uses a 5.3-liter V8 engine to make 355 horsepower and 383 lb-ft of torque. The large SUV achieves 21 miles per gallon in the city and 27 miles per gallon on the highway.
The Yukon XL features a wrapped steering wheel, wireless Apple CarPlay and Android Auto, and keyless entry. It also comes standard with remote start, multiple power outlets, and heated power outside mirrors. The 2023 GMC Yukon XL is a great family hauler that is praised for its roomy cabin and smooth ride quality. The large SUV may depreciate quicker than many of its rivals, but it’s worth getting for drivers interested in long-term ownership.
What is the best full-size SUV?
Car and Driver claims that the Chevrolet Tahoe is the best full-size SUV. The Yukon/Yukon XL and Chevrolet Suburban rank below the Tahoe. Clearly, General Motors produces some of the best large SUVs in the game.
The Ford Expedition Max is one of the few full-size SUV models than can compete with GM large SUVs. The Expedition Max has a snazzy interior and great powertrain options.
Let us know your pick for the best full-size SUV in the comment section below.