30 Cars That Are Plummeting in Value
That sweet-smelling new car starts losing value the moment you drive it off the dealer’s lot. According to AutoTrader.com, “the average car depreciates in value by 35 percent in three years.” Here are 30 cars that take the steepest plunge.
Luxury cars already depreciate at a staggeringly high rate. When you add in the discontinuation of a model, you are left with a vehicle that may have lost more than half of its original value before your lease is finished. This Lincoln is no longer being produced and its no longer worth nearly what the sticker price read while on the dealer’s lot.
Thanks to rapidly evolving technology, high cost of replacing the EV battery, and range anxiety among its drivers, the Volt sees over a 70 percent drop in value after five years of ownership. You’ll feel great rarely having to stop at a gas station, but that smile may turn to a frown when trying to trade-in or sell a Volt. A reliable car will hold on to more of its value; here are the most reliable cars on the road today.
BMW 6 Series
Yet another BMW makes the list—and for similar reasons: High turnover after three-year leases expiring and no shortage of supply on BMW dealer’s pre-owned lots. This model BMW depreciates at a rate of 68 percent over five years.
Of course, this car looks amazing, but expect to lose nearly two-thirds of the value of your luxury Jaguar over a three-year period. If you’re looking for a ride that will retain the most value, check out the premium trim of a Subaru Impreza, the sports car that depreciates the least, according to iSeeCars.com.
Once again a high-tech, eco-friendly ride lands on the list of fast-depreciating cars because of the year-over-year advancements in fuel efficiency and technology. The Prius and the Prius C have an average five-year depreciation of more than 50 percent. Want to keep more of your car’s value? Get rid of the smoke smell inside!
Ford Fusion Energi
In the world of hybrids, this model isn’t nearly as well known. But like others of its kind, the Fusion Energi depreciates rapidly; add to that the lack of familiarity among consumers, and you have a car that loses more than 69 percent of its value over five years, according to iSeeCars.com.
Audi S4, S5, S6, S7
These four Audi luxury sports cars rank with the worst vehicles when it comes to plummeting values. Maintaining an Audi can get expensive, and that leads to depreciation as consumers looking for pre-owned cars are hoping to avoid large repair bills. As Consumer Reports once said, “Audis are a sinkhole of service problems.”
Kia’s second car on this list of plummeting resale values is nothing short of glamorous; even Lebron James got behind the wheel as the pitchman for Kia’s first and finest high-end sedan. But to this day not many car consumers have ever heard of it, meaning you can find a two-year-old K900 for about half its original sticker price.
Phong Ly, the CEO of iSeeCars.com, attributes the Maxima’s 34 percent drop in value to a recent makeover. “The 2014 Maxima was the last model of its generation, and the redesign had been delayed a full model year. As a result, the 2014 model lagged beyond the competition in terms of technology and styling, decreasing consumer interest.”
After just a single year of ownership, this luxury sedan from Chrysler loses nearly 32 percent of its value, reports Forbes. In real terms, that’s a whopping average net loss of $13,351. If you want a 300, there may be supreme value in the pre-owned market on Chrysler dealer lots. Find out what happens to your car after you trade it in.