New report lists the top 5 vehicles with the highest and lowest depreciation value in Colorado Springs
The average new car loses 37% of its value within the first 5 years
COLORADO SPRINGS, Colo. (KKTV) - According to a study done by iSeeCars, the average new car loses 37% of its value during the first five years.
Due to the microchip shortage, there’s been a record high in used car prices over the past 15 months.
“Vehicles that have historically maintained their value well have depreciated even less this past year, but even in today’s market some cars continue to drastically drop in value,” Karl Brauer, the Executive Analyst of iSeeCars, says.
With rapid advancement in electric car manufacturing many of the these vehicles become outdated with battery life expected to last only 8-10 years. The Nissan Leaf rated highest in depreciation based on its original MSRP. The BMW i3 came in second based on high cost, limited market demand, and lack of government tax incentives.
After five years new vehicles that retain their value most are truck-based SUVs, trucks, and sports cars. Jeep Wrangler is known for retaining good value due to performance and durability in all terrain. Toyota trucks hold their value well, and have a high reputation for quality and reliability when it comes to a midsize truck, according to the report.
Cars that Depreciate the Most in Colorado Springs-Pueblo according to iSeeCars
1) Nissan LEAF with a 5-year depreciation of 63.5%
2) BMW i3 with a 5-year depreciation of 63.1%
3.) Buick Enclave with a 5 year depreciation of 54.9%
4.) Cadillac Escalade ESV with a 5 year depreciation of 52.2%
5.) Nissan Pathfinder with a 5 year depreciation of 51.0%
Cars that depreciate the least in Colorado Springs-Pueblo according to iSeeCars
1.) Jeep Wrangler with a 5 year depreciation of 6.7%
2.) Jeep Wrangler Unlimited with a 5 year depreciation of 8.7%
3.) Toyota Tacoma with a 5 year depreciation of 12.3%
4.) Toyota Tundra with a 5 year depreciation of 18.%
5.) Ford Mustang with a 5 year depreciation of 19.3%
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