Used car prices jumped during the height of the pandemic as supply chain delays created a gap between available late-model cars and market demand. A survey this month from car search engine iSeeCars tracked aggregated value increases against previous years.
The survey, which analyzed over three million five-year-old used cars sold in 2022, found the average five-year-old car depreciated by only an average of 33.3 percent from the manufacturer suggested retail price (MSRP). That’s a 17 percent decrease in lost value compared to 2021.
Amidst significant hikes in gas prices, fuel-efficient cars, including hybrid vehicles, small cars, small SUVs, and midsize cars, held their value the best, though durable vehicles like the Jeep Wrangler and Toyota Tacoma also retained their worth.
The top 10 models with the lowest depreciation in five years and retaining the greatest value are:
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Jeep Wrangler with an average 7.3 percent depreciation and $2,361 difference from MSRP;
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Jeep Wrangler Unlimited with an average 8.7 percent depreciation and $3,344 difference from MSRP;
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Porsche 911 with an average 14.6 percent depreciation and $20,6234 difference from MSRP;
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Toyota Tacoma with an average 14.9 percent depreciation and $5,926 difference from MSRP;
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Honda Civic with an average 16.3 percent depreciation and $4,237 difference from MSRP;
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Subaru BRZ with an average 18.2 percent depreciation and $5,985 difference from MSRP;
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Ford Mustang with an average 19.4 percent depreciation and $7,528 difference from MSRP;
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Toyota Corolla with an average 19.8 percent depreciation and $4,617 difference from MSRP;
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Nissan Versa with an average 19.9 percent depreciation and $3,183 difference from MSRP;
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Chevrolet Camaro with an average 20.2 percent depreciation and $7,981 difference from MSRP.
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