If there’s one common mistake many new vehicle buyers make, it’s overlooking the resale value of their potential new ride. SUVs will lose up to 50% of their initial value within the first three years, so if you’re not the type to drive a car until the wheels fall off, this is something you’ll want to take into careful consideration.
Luckily, there are several popular SUVs on the market that retain their value remarkably well — and we’ve compiled a short list for you to keep in mind while car shopping.
10 SUVs with the Best Resale Value
Whether you’re going to sell your car or trade it in at the dealer, resale value is important. The SUVs that hold value well will work to your advantage when the time comes, which means you’ll have more money or credit to put toward your next car.
Want to know which SUV has the best resale value in 2023? According to Kelley Blue Book, these are the 10 SUVs with the best resale value.
1. Subaru Crosstrek
The Subaru Crosstrek was ranked number one by Consumer Reports in the subcompact sport-utility vehicle category. It’s comfy, reliable, gets excellent gas mileage, has user-friendly features, and much more.
Because of this, the Crosstrek is in constant demand and retains 52.3% of its original value over the course of five years.
2. Subaru Forester
The Forester also ranks in first place — but for the compact SUV category. It encompasses much of the Crosstrek’s highlights, just in a bigger package with the option for an off-road-capable suspension system for tougher terrain.
You can expect the Forester to hang on to at least 47.2% of its value after five years.
3. Hyundai Palisade
The Hyundai Palisade is an SUV with something for everyone, thanks to its trim level and package options. Overall, it’s a near-perfect family mid-size SUV (with the option for a third row of seats) when it comes to value, comfort, and handling.
Palisade models impressively retain a whopping 66.82% of their value after five years.
4. GMC Yukon
The GMC Yukon isn’t just big — it’s the ultimate cargo-hauling SUV. What’s more, it’s been engineered to ride as if it were a luxury SUV. If you’re looking for a full-size SUV that can go the distance and has a third-row seating option, this is it.
The Yukon is predicted to retain 47.2% of its value after five years. That’s pretty impressive for such a massive vehicle!
5. Ford Bronco
The Ford Bronco has made an undeniable and much-anticipated comeback. This time around it’s sporting awesome off-road capabilities powered by its turbocharged engine options while providing maximum comfort and excellent handling. It’s also equipped with more cargo room and a classic no-frills interior that resembles the old days.
New Broncos are hard to come by thanks to their high demand, which is why they’re expected to retain 55.7% of their value after the five-year mark.
6. Jeep Wrangler
The Jeep Wrangler — and Wrangler Unlimited — are at the top of many of our other lists, and for good reason. They are the embodiment of freedom and adventure, and they have superior off-roading capabilities that aren’t compromised on the road.
Most Wrangler models retain 74.2% of their value after five years. However, once you purchase a Wrangler, you likely won’t ever want to sell it.
7. Toyota 4Runner
It’s no surprise that the 4Runner retains much of its value. It’s the perfect combination of ruggedness and luxury. Plus, it’s notoriously reliable and will run forever as long as it’s maintained properly. It also comes with a third-row seating option!
You can expect a new 4Runner to keep 70.2% of its value after five years.
8. Porche Cayenne
The Cayenne is Porsche’s biggest SUV, boasting five seats and plenty of convenience and tech features. It also offers a refined, quiet ride yet ample athleticism for a luxury SUV. It’s essentially the solution for a Porsche lover with a family in tow.
Cayennes will keep up to 46.5% of their value, which is better than expected for a luxury SUV!
9. Lincoln Aviator
The Lincoln Aviator is the luxury version of a Ford Explorer and accommodates up to seven passengers comfortably. It’s also much more fuel efficient compared to most of its predecessors and is packed with lots of tech features and top-notch materials. Overall, it’s a sleek luxury SUV made with everyone in mind.
Lincoln Aviators retain 46.5% of their resale value after five years.
10. Lexus LS
Lexus makes some of the most reliable luxury cars around, and the LX is no exception. The luxury crossover SUV holds the off-road capabilities of the Toyota Landcruiser while offering a smooth and quiet ride on the road thanks to its adaptive suspension and full-time four-wheel drive system. All of that comes in a sleek package of wooden paneling and leather interior, with plenty of high-tech features.
A new Lexus LX will retain 50% or more of its initial value after five years, which is good news since it comes with a hefty price tag.
Tips to Help Your SUV Hold Its Value
When buying a new SUV, the last thing people usually think about is selling it. However, this is the perfect time to consider resale value and make the correct buying decision.
Here are some essential tips to help ensure your SUV holds its value:
- Keep up with regular maintenance: This will ensure your SUV remains in good working condition and is ready to sell when you’re ready to let it go.
- Maintain the interior: Keep the upholstery clean, dust off the dash, and don’t smoke inside your SUV. You want to keep it as nice and fresh as possible if you want to appeal to potential future buyers.
- Watch your mileage: Mileage is a primary factor in determining resale values as it accounts for wear and tear. The accepted standard is 10,000-12,000 miles per year. So if there are more than 60,000 miles on your SUV by year five, you can expect to get less for it than a low mileage competitor.
- Stay away from customizations: Save any custom modifications for an SUV you plan to be buried with. Aftermarket alterations are often negative when it’s time for you to sell.
- Choose an SUV that will hold its value: Making the right choice when you buy is the best way to recuperate costs down the road when it’s time to sell.
While most SUVs may not hold their value as well as these on our list, it doesn’t mean that finding a buyer for your used SUV will be difficult. Motobyo can help you sell and buy pre-loved SUVs with ease — no salespeople, no pressure, but plenty of support. Learn more about how our car buying and selling platform works today!