Which Cars Hold Their Value Best in 2024?

In 2024, several cars stand out for their impressive value retention. In this latest blog post, we will explore some of the models that look set to hold their value well for 2024.

Compared to a few years ago, cars are holding their value better than before. This is a result of the reduced new car production during the pandemic and constrained used car supplies today.

Before the pandemic, the average car value would drop by around 50% within five years. Now, the average 5-year depreciation is 38.8%. However, electric vehicles have the worst depreciation, losing approximately half their value. 

Trucks and hybrids are among the best segments. For example, hybrids have almost a 12% point advantage over EVs in value retention, translating to thousands of dollars in higher market values after five years. 

The following cars hold their value better than average. 

Porsche 911 Coupe

This high-end sports car experiences an average 5-year depreciation of only 9.3%, with an average difference from the Manufacturer’s Suggested Retail Price (MSRP) of $18,094. The 911 coupes offer Porsche performance, craftsmanship, and precision, making them a coveted choice for those seeking both luxury and value.

The price of the Porsche family of 911 coupes starts at $114,400 and goes up to almost $300,000 for the more exotic models. Life behind the wheel of one of these valuable cars isn’t cheap either, but no cars cling to their value more tightly than the 911 coupe. Models include the Carerra, Targa, GT3, Turbo, high-end Dakar, and S/T.  

Toyota Tacoma

As a powerful pickup designed for trails, the Tacoma boasts 326 horsepower and a 6,500-pound towing capacity. It starts at $31,500 and has an average 5-year depreciation of 20.4%, with an average difference from MSRP of $8,359. Remarkably, the Tacoma is the only pickup in the top 10 for value retention.

Honda Civic

The Civic, a reliable compact car, experiences an average 5-year depreciation of 21.5%. Its combination of quality, reliability, and affordability contributes to its strong value retention.

Every year, it is a worthy contender for the title of the most reliable and cheapest-to-own car on the road. Prices start at $23,950 and in over half a decade, you can expect it to shed less than $6,000 of that. 

The Honda Civic also boasts excellent fuel economy of 31/40 city/highway mpg and rock-bottom annual maintenance costs estimated to be just $368. In terms of long-term ownership costs, it’s also one of the most affordable.

Considering the car’s price, there’s an impressive amount of tech packed into the cockpit. Standard safety features include the Honda Sensing Suite, collision-mitigation braking, and road-departure mitigation. 

Subaru BRZ

Generally speaking, it’s hard to find inexpensive Subarus on the used market, because they hold their value so well. However, none depreciates slower than the stylish BRZ. 

This affordable sports car has an average 5-year depreciation of 23.4%. Enthusiasts appreciate its rear-wheel drive and engaging driving dynamics.

This classic two-door, rear-wheel drive sports car starts at $30,195. For that bargain price, you get a standard 2.4-liter direct-injection Subaru Boxer engine that drums up to 228 horsepower. 

Chevrolet Camaro

The Camaro, another sports car, retains its value well with an average 5-year depreciation of 24.2%. Its bold design and performance capabilities contribute to its appeal.

Prices for the 2024 Chevy Camaro start at $30,900, which puts it on par with the Subaru BRZ. With its elegant yet muscular design, the current Camaro has three available powertrains and several trim packages. These include a beastly 650 available horsepower and 3.5-second 0-60 acceleration. A 3.6-liter V6 engine is standard on what will be the last model year for the sixth generation of this American classic. 

Jeep Wrangler

The average 5-year depreciation for the Jeep Wrangler is 20.8%. Prices for this ultimate adventure vehicle start at $31,995. If you sell it five years after purchase, you can expect to get roughly four out of five of those dollars back. 

The best-in-class performance is from the Wrangler Rubicon at 470 horsepower, 470 pound-feet torque, and a towing capacity of 5,000 pounds.

The exterior is redesigned across the entire 2024 lineup and has earned it the coveted Trail Ready badge. 

So, we’ve looked at the cars that hold their value best, let’s finish up by quickly looking at some of the fastest-depreciating cars for 2024. 

Using the latest resale value data, here are 5 models that are expected to lose the highest percentage of their original price in the first three years. If you think expensive cars are a good investment, think twice before you spend money on one of the following cars.

Fastest-Depreciating Cars in 2024

•  DS 3: This small electric SUV counts the Hyundai Kona Electric and the MG ZS EV among its rivals. The 9.0 sec 0-60 mph sprint time afforded by its 154 bhp electric motor is quick enough for most drivers. Its soft suspension gives it a comfortable ride, and the battery gives an official range of 250 miles. 
• Maserati Ghibli: This V6-powered performance car has a scale of depreciation over three years that’s worthy of note. You can expect it to drop in value by more than $64,000. Maserati calls this car a hybrid but essentially it’s a milk hybrid. What this means is that the 2.0-liter petrol engine gets tiny amounts of electrical assistance to help lower your fuel bills by a small amount. 
• Nissan Leaf: There are a lot of positives about one of the first small electric cars to sell in big numbers. For example, it can reach 62mph in 8.0 seconds and has a range of up to 168 miles between charges. It’s also one of the most affordable electric cars on sale. However, 39kWh versions of the Leaf shed dollars quicker than most rivals. 
• Ford Expedition: The average five-year depreciation on Ford’s largest SUV is 50.7%. It might be great at carrying your family around, but it’s not so awesome at holding its value. The powerful twin-turbo V6 delivers great power and strong capability. Towing capacity increases to 9,300 pounds when the SUV is properly equipped. The ten-speed automatic transmission shifts smoothly, and the massive three-row vehicle maintains a comfortable ride over most terrains. 
• Volvo S90: The average five-year depreciation on this baby is 51.4%. But apart from that, the Volvo S90 offers safety, luxury, and plenty of standard features. Depending on the configuration, the S90 sports up to 455 horsepower. All-wheel drive comes standard, and the eight-speed automatic transmission does a good job of keeping the absurdly complex powertrains working hard.  

Final Thoughts

In conclusion, taking depreciation into account when purchasing a new car is paramount for informed decision-making. It's not just about the initial excitement of owning a shiny vehicle; it's a strategic move to protect your investment. 

Recognizing which cars hold their value better ensures that your hard-earned money is spent on a vehicle that not only meets your immediate needs but also retains its resale value in the long run. 

By making depreciation a key factor in your decision-making process, you not only maximize the return on your automotive investment but also set yourself up for a more financially sound and rewarding driving experience.

In navigating the complex terrain of car depreciation, the journey doesn't end at the dealership. 

Safeguard your investment from the moment you choose your dream car by entrusting it to SGT Auto Transport's reliable car shipping services. Whether you're relocating, selling, or preserving a classic, our expert team ensures that your vehicle arrives at its destination with the same care and precision that you invested in choosing it. 

Drive with confidence, knowing that from purchase to auto transport, SGT Auto Transport is committed to safeguarding your automotive investment at every turn. If you want to know more about our services, speak with our shipping advisors at (864) 546-5038 or use our Live Chat option.