Of all of the different types of automobiles, trucks have one of the strongest markets. People look to buy used trucks in order to help them haul boats, trailers, or the tools they need to complete a variety of jobs. Because of this demand, a truck that is known to have come from a reliable make and model has high value.
The trucks that hold their value the best are the Toyota Tacoma, the Toyota Tundra, Ford F-150, the Ram 1500, and the Chevrolet Silverado. The durability of these trucks causes them to hold their value long after the year in which they were originally sold.
Let’s take a look at what makes these trucks hold their value so well. Resale value is important if you plan on trading in a vehicle or reselling it in the future. Here is a list of some of the truck models that have held a high value for years after their original date of sale.
The Toyota Tacoma consistently tops the charts when it comes to retaining value. Toyota is generally considered to be the most reliable brand of vehicle, and Toyota cars of all kinds sell for a good price years after their release.
The Tacoma in particular has a depreciation rate as low as 32% over 5 years.
Compared to some trucks, which lose 50% or more of their value in 5 years, the Toyota Tacoma is a solid investment.
Furthermore, this vehicle doesn’t have to compete with many trucks in the midsize pickup category, as the only other reliable pickups of this size are fairly new, and haven’t spent enough time in the used car lots to be able to compete.
Right up there with the Toyota Tacoma is the Toyota Tundra. This truck is once again considered to be reliable and long-lasting, capable of doing the same work today as it did several years ago.
The Toyota Tundra is a full-size pickup, however, so it has a lot of competition when it comes to retaining its value. Despite the competition, the Tundra maintains a low depreciation rate of 36% over 5 years, staying well below the average for trucks of this size.
The Ford F-150 is the most popular truck on the market. It is known far and wide for its dependability and durability.
The Ford F-150 is also known to be quite safe and easy to drive.
Because of its popularity, demand for the truck is high, which keeps the depreciation values for this truck low. The average depreciation on a Ford F-150 is 44%, but some versions of this truck hold their value even better.
No discussion on trucks is complete without a mention of one of the Ram trucks. The Dodge Ram 1500 is a powerful truck with a reliable engine that lasts hundreds of thousands of miles.
In fact, some will argue that Ram trucks have the most reliable engines ever. This durability (and the Ram’s reputation for power) keeps the 5-year depreciation down to 42%, though the newest Ram trucks are expected to lose their value even more slowly.
The final truck on this list is the Chevrolet Silverado. This truck varies widely in its value over time, but some of the models lose as little as 35% of their value after the first 5 years.
Car dealers attribute the long-lasting value of this truck to the high-end technology that it carries. It can hold its own when it comes to power and maneuverability, making it a good purchase at any stage.
Of all types of vehicles, used trucks hold their value best. Though there are definitely some used trucks that lose value just as quickly as other types of vehicles, a truck is likely to maintain its worth for much longer than a sedan or a minivan.
The main reason that trucks hold onto their value for so long is because they are designed to be durable.
Unlike a sedan, which is built to get good gas mileage, a truck is built to withstand the weather, accidents, and other mishaps. They are meant to do hard work and every truck is built with the expectation that it will last for hundreds of thousands of miles.
Trucks are also the vehicle of choice for workers in fields like plumbing, electricity, and agriculture. Company owners and independent contractors alike are looking for trucks that will do the job they have in mind for years.
Of all trucks, diesel trucks are the most likely to hold high value for the longest. After all, they are considered to be the strongest vehicles on the market. If your truck is a tough vehicle with no problems or missing features, it can hold onto over half of its original value for 5 or 6 years after it was purchased.
On the other hand, if your truck comes from a less respected brand, picks up a lot of miles, and is missing some important things like all-wheel drive or necessary paperwork, it could lose value just as quickly as a normal car.
Cosmetic issues like bright paint colorings will damage the value, as will bad smells like cigarette smoke.
In order to maintain the value of your truck, hold onto the papers and keep track of the maintenance history. Do your best to keep the mileage low and to avoid dents and marks on the car.
Though lots of gadgets and pieces of technology can go out of style, installing a backup camera in your car can add a lot more value than you think.
People don’t want to have to go to the trouble of installing one themselves, and putting money into the car can give you more leverage over the truck’s price.
High Value Trucks
Of all of the trucks you could buy, prioritizing a truck that will hold its value will give you more than a few extra dollars when you sell. Trucks with high resale value are also resilient, powerful, and long-lasting vehicles that are high in demand.
Before you buy or sell, research the resale potential of your truck in order to know what a truck will be worth in the future.