If you’re in the market for a new car, affordability will likely factor heavily in your decision about which car to buy. But unless you plan to keep it forever, it’s also a good idea to consider how much you’ll be able to sell it or trade it in for later on.
As you probably know, depreciation is unavoidable with vehicles. According to Kelley Blue Book, “An average 2024 model-year vehicle will only retain about 42.4% of its original value after a five-year ownership period, meaning a $50,000 new car today will only be worth somewhere close to $21,200 after five years.”
Of course, some car brands keep their value much better than others, as a recent CarEdge roundup shows. Before you buy your next car, check out these affordable cars with high resale value s.
According to CarEdge, “Toyota as a brand does very well maintaining its value, consistently ranking at the top of popular brands.” Toyota has nearly a 70% five-year resale value. In addition, Kelley Blue Book named Toyota its best resale value brand for 2024.
The 4Runner, Tacoma and Highlander are especially impressive for holding their value. But the Yaris is a great compromise, considering its under-$16,000 starting MSRP, according to iSeeCars, which rated the Yaris a 9 out of 10 for value rentention.
CarEdge said 2022 is its top pick for a Toyota model year.
When it comes to strong resale value brands, Mazda is just behind Toyota. According to CarEdge, Mazda has about a 65% five-year resale value.
Unlike Toyota, which has long been known for strong resale values, Mazda has seen improvements in recent years. According to CarEdge, “Mazda’s resale values have improved, relative to their peers, and their rankings have climbed to the Top 5 range at all three time intervals.”
The CX-3 is one of the most affordable models, with a starting MSRP of under $21,000, according to iSeeCars.
Honda
If you’re in the market for an affordable car brand with good resale values, you may want to consider Honda. “For value-conscious shoppers looking for a tried and true vehicle line that won’t disappoint, you can’t go wrong with any Honda model, new or used,” according to CarEdge. Honda has about a 65% five-year resale value.
Not sure which Honda to choose? The Civic, CR-V and Accord are among the solid picks from Kelley Blue Book. For the best value, consider a Civic coupe, with an MSRP starting under $22,000.
Subaru
Subara ranks among the top brands for retaining its value after three, five and seven years of ownership, according to CarEdge. That’s in part due to solid performances from the BRZ, Impreza and Outback models.
According to CarEdge, “Subarus have consistently held their value better than virtually all other car lines over the years and are a clear choice for those looking for long-term value. Pair that with their safety and reliability records, and you can’t go wrong buying one of these new or used.”
A starting MSRP of $19,795 makes the Impreza especially affordable, and you can find an Outback for under $30,000, according to iSeeCars.
Jeep
While Jeep makes the list overall, not all models are great for affordability or for resale value.
According to CarEdge, the Wrangler is a solid choice in terms of value retention, and the base MSRP for a new one is relatively affordable at around $32,000, according to iSeeCars. The Compass can be had for much less but is not nearly as strong when it comes to holding its value, CarEdge noted.
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