According to Kelley Blue Book, many new-car buyers don’t realize the impact depreciation has during the first five years of vehicle ownership. Unfortunately, it’s often the greatest expense they’ll face. Vehicle owners can expect an average 2024 vehicle to only retain about 42% of its original value by the five-year mark.
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However, there are vehicles that retain their value better — around 59% on average — than 95% of all other models. According to KBB’s Best Resale Value Awards, here are the top 2024 car models with the best resale value.
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The 2024 Ford Bronco offers nine trim levels, two body styles and two engine choices.
Plus, it’s highly rated for its four-wheel drive capabilities. However, the base model is pricey and the road noise is considerable. Even so, the fact that it can retain approximately 67% of its value after five years may be enough for buyers to overlook the drawbacks.
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The newly redesigned Toyota Tacoma has no problem holding its own with other midsize trucks, including the Ford Ranger and Chevrolet Colorado. Additionally, Toyota expanded its Tacoma lineup for 2024 with a hybrid model that sets it apart from the other trucks in its class.
Buyers who can afford the Mercedes-Benz G-Class likely won’t blink at the starting price because of the SUV’s reputation for excellence. From its military-grade hardware to its first-class luxury, the G-Class is a rugged yet refined vehicle. Additionally, after five years, owners can expect to recoup about $87,500 from the purchase price.
If maximum towing capacity isn’t a concern, the Toyota Tundra can give you more bang for your buck when it comes to resale value. The full-size truck’s tow rating is 12,000 pounds versus Chevy’s 13,300 and Ford’s 14,000. However, what it loses in towing capacity, it makes up for in offering a smoother ride than other trucks in its class.
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Starting price: $69,995
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5-year resale value: 59%
New for 2024 is the all-wheel-drive Corvette E-Ray hybrid, which has an electrically powered front axle and a V8 gas engine to power the rear. For those who are loyal to the regular Corvette, its supercar status and relatively affordable price make its five-year resale value of almost 60% icing on the cake.
