When buying an automobile, its resale value should play a vital role in your decision, especially when you're in a five-year buy-own-sell cycle. The value a vehicle retains after five years could mean savings for the owners, whether they're selling it or trading it in for a new ride.
Kelley Blue Book's Best Resale Awards for 2022 aims to give us a list of vehicles that retain the most value after five years of ownership. The car-shopping website has listed down ten of the best and interestingly, seven of them are trucks.
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Topping the list is the new Toyota Tundra, which retains 70.2 percent of its value after owning it for five years. This means that a $53,595 2022 Tundra Limited can potentially sell for over $37,000 by the time its owner wants to replace it with a newer truck.
Following the Tundra is the 2022 GMC Sierra. On average, it holds 60.8 percent of its value even after five years – lower than what the Tundra offers but still way higher than the 40 percent industry average for five years.
The other five pickups that place in KBB's Best Resale Awards for 2022 are the Toyota Tacoma, Ford Maverick, Ford Ranger, Ford Ranger, and Jeep Gladiator. All these nameplates retain over 50 percent of their values after 60 months.
There are three vehicles on KBB's list that don't have beds. The Chevrolet Corvette tops these three, tying with the Ford Maverick by holding 59.5 percent of its value after five years. The Toyota 4Runner follows at 58.6 percent, while the Tesla Model X is at 57.6 percent.
Overall, Toyota tops KBB's list of brands with the best resale value, taking the title for the fifth time in six years. Toyota's luxury arm, Lexus, leads in the luxury brand category for the seventh time.