• Jeep Wrangler remains the best vehicle for holding its value, while overall five-year depreciation for new cars drops from 40 percent in 2021 to 33 percent in 2022
  • Looking at three-year depreciation shows a mere 17 percent decline in value, the smallest drop on record, with some used models, such as the Porsche 911, actually appreciating in value above its original MSRP
  • Fuel efficient cars, including hybrid vehicles, small cars, small SUVs, and midsize cars, held their value the best, reflecting ongoing spikes in gas prices
  • Large luxury cars lose the most value, including the BMW 7 Series, Maserati Ghibli, and Jaguar XF
Pandemic-related disruptions to automaker supply chains and their impact on new vehicle and used vehicle pricing have dramatically affected retained value rates as well. An analysis of three- and five-year vehicle depreciation reveals that cars retain more value than they have in recent memory, and that a small number of cars have even appreciated in value, according to a new study by automotive firm and car search engine iSeeCars.

iSeeCars analyzed over three million three-year-old and five-year-old used cars sold in 2022 and found the average five-year-old car lost only 33.3 percent of its value from MSRP. Compared to 2021, that represents a 17.0 percent decrease in depreciation. “The relative scarcity of late-model used cars due to pandemic-related new car production disruptions has kept used car values high for more than a year,” said Karl Brauer, Executive Analyst for iSeeCars. Looking at individual models, the Jeep Wrangler tops the best resale value cars, while the BMW 7 Series is the vehicle with  the highest rate of depreciation.

Vehicles That Depreciated the Least in Five Years

The average five-year depreciation in 2022 is 33.3 percent, with the best cars for retained value over the past five years listed below.
Top 10 Vehicles with the Lowest Five-Year Depreciation - iSeeCars Study
Rank Model Average 5-Year Depreciation Avg $ Difference from MSRP 
1 Jeep Wrangler 7.3% $2,361
2 Jeep Wrangler Unlimited 8.7% $3,344
3 Porsche 911 14.6% $20,634
4 Toyota Tacoma 14.9% $5,926
5 Honda Civic 16.3% $4,237
6 Subaru BRZ 18.2% $5,985
7 Ford Mustang 19.4% $7,528
8 Toyota Corolla 19.8% $4,617
9 Nissan Versa 19.9% $3,183
10 Chevrolet Camaro 20.2% $7,981
National Average  33.3% $14,049
The Jeep Wrangler and its four-door counterpart, the Wrangler Unlimited, hold the top two spots in the list of Vehicles with the Lowest Five-Year Depreciation , with around four times lower depreciation than the average car. “The Jeep Wrangler continues to embody the ultimate off-road companion, with timeless styling that keeps it popular long after it has left the new-car showroom,” said Brauer, adding, “Based on historical data, it’s no surprise these two Jeeps were the best resale value winners in 2021 as well. The Wrangler is essentially the poster child for ‘ Best Resale Value Awards ’.”   

Sports cars like the Porsche 911, Ford Mustang, Subaru BRZ, and Chevrolet Camaro, saw increased demand during the pandemic as a means for fun and escapism during lockdowns. “We saw prices jump for sports cars after the lockdowns began, and they maintained their strong original value even as restrictions were lifted,“ said Brauer. 

The other cars on the list are some of the most popular, best-selling cars: the Toyota Corolla, Nissan Versa, Honda Civic, and the Toyota Tacoma. The first three are compact cars with high gas mileage, while the Tacoma is a smaller midsize truck with a reputation for durability. “High gas prices always shift demand toward more fuel-efficient vehicles, increasing the value retention of these models,” explained Brauer.

Vehicles that Depreciated the Most in 5 Years 

iSeeCars also examined the vehicles that depreciate the most after five years. 
Top 10 Vehicles with the Highest Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation Avg $ Difference from MSRP 
1 BMW 7 Series  56.9% $61,923
2 Maserati Ghibli 56.3% $51,168
3 Jaguar XF 54.0% $36,081
4 INFINITI QX80 52.6% $44,265
5 Cadillac Escalade ESV 52.3% $55,128
6 Mercedes-Benz S-Class 51.9% $65,375
7 Lincoln Navigator 51.9% $41,426
8 Audi A6 51.5% $33,331
9 Volvo S90 51.4% $32,321
10 Ford Expedition 50.7% $32,674
National Average  33.3% $14,049
Luxury brand vehicles and larger vehicles dominate the cars that depreciate the most after five years. “Just as higher gas prices increase demand for fuel-efficient vehicles, they also decrease demand for full-size SUVs like the extra-large Cadillac Escalade ESV and Lincoln Navigator,” said Brauer, adding, “Luxury vehicles like the also tend to depreciate at higher rates because used car shoppers don’t value their premium features as much.” 

Vehicles That Depreciated the Least in 3 years 

Because the analysis revealed lower five-year depreciation compared to 2021, iSeeCars further analyzed three-year depreciation . Overall three-year depreciation is 16.9%, almost a third less than the average of 23.8% in 2021. Unexpectedly, five models actually appreciated over MSRP in this three-year span. “The market is pricing late-model used cars as though they were new. If shoppers can’t buy a new car , the next closest thing is a used car with low miles, thus the appreciation in value for these cars,” suggested Brauer.
Used Vehicles Worth More than their New MSRP - iSeeCars Study
Rank Model Appreciation Avg $ Increase from MSRP  
1 Porsche 911 +5.7% +$11,373
2 Toyota RAV4 Hybrid -+2.5% +$883
3 Jeep Wrangler Unlimited +2.0% +$880
4 Porsche 718 Cayman +1.8% +$1,342
5 Jeep Wrangler +0.3% +$90
Three of the models that increased in value over MSRP are the same as the top three models with the lowest five-year depreciation : the Porsche 911, Jeep Wrangler , and Jeep Wrangler Unlimited. The other models include another Porsche model, the Porsche 718 Cayman, as well as the Toyota RAV4 Hybrid trim . “This is unprecedented in used vehicle pricing. Finding multiple 3-year-old used models worth more than their new MSRP is something we’ve not seen before,” remarked Executive Analyst Karl Brauer.

iSeeCars also analyzed the vehicles with the lowest depreciation after three years. The list includes 10 vehicles that all depreciated less than five percent. 

Top 10 Vehicles with the Lowest Three-Year Depreciation - iSeeCars Study
Rank Model Depreciation Avg $ Difference from MSRP 
1 Mercedes-Benz G-Class 0.6% $980
2 Honda Civic 1.4% $352
3 Subaru Crosstrek 1.9% $545
4 Toyota C-HR 2.5% $639
5 Porsche 718 Boxster 2.5% $1,907
6 Toyota RAV4 2.6% $843
7 Toyota Corolla Hatchback 3.4% $846
8 Kia Rio 3.5% $631
9 Chevrolet Camaro 3.5% $1,401
10 Tesla Model 3 4.1% $2,012
National Average  16.9% $6,928
“To put some context to these numbers, consumers could have bought these cars new, driven them for three years, and then sold them for anywhere from just a few hundred dollars to around two thousand dollars below MSRP , which is unusual to say the least,” said Brauer.

Vehicle Depreciation by Segment

Small SUVs - Five-Year Depreciation 

iSeeCars determined the lowest and highest- depreciating small and compact SUVs. In addition to being fuel-efficient, small crossovers are relatively affordable while offering a high degree of functionality, including optional all- wheel drive to combat inclement weather. Additionally, models like the Subaru Crosstrek , and its larger sibling the Subaru Outback, aren’t as off-road capable as the Jeep Wrangler but still provide genuine off-road capability. 

Top 5 Small SUVs that Hold Their Value Best 

Top 5 Small SUVs with the Lowest Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Jeep Wrangler 7.3%
2 Jeep Wrangler Unlimited 8.7%
3 Subaru Crosstrek 20.7%
4 Honda HR-V 20.8%
5 Toyota RAV4 23.1%
Small SUV Average 29.1%
Top 5 Small SUVs that Lose the Most Value
Top 5 Small SUVs with the Highest Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Volkswagen Tiguan 42.1%
2 GMC Terrain 39.9%
3 Chevrolet Equinox 39.5%
4 Ford Escape 39.3%
5 Mitsubishi Outlander 35.9%
Small SUV Average 29.1%

Midsize SUVs - Five-Year Depreciation

Although midsize SUVs are one of the most popular vehicle types, largely replacing the minivan for family transportation, as a segment they depreciate more than the overall industry average. This is likely due to their requiring more fuel than their smaller counterparts. Newer models like the Hyundai Palisade and Kia Telluride haven’t been around for 5 years yet, but are showing very strong signs of high residual value .

Top 5 Midsize SUVs that Hold Their Value Best 

Top 5 Midsize SUVs with the Lowest Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Toyota 4Runner 21.7%
2 Toyota Highlander 31.8%
3 Dodge Durango 36.1%
4 Honda Pilot 36.7%
5 Jeep Grand Cherokee 37.5%
Midsize SUV Average 39.9%
Top 5 Midsize SUVs that Lose the Most Value 
Top 5 Midsize SUVs with the Highest Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Nissan Pathfinder 44.9%
2 Hyundai Santa Fe 44.8%
3 Chevrolet Traverse 44.2%
4 Ford Edge 43.2%
5 Nissan Murano 42.7%
Midsize SUV Average 39.9%

Hybrids - Five-Year Depreciation

Hybrid vehicles are popular among consumers who want to save on gas without worrying about range anxiety. 
Ranking of Hybrid Vehicles by Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Toyota Prius 22.7%
2 Toyota Prius Prime 23.4%
3 Toyota RAV4 Hybrid 25.3%
Hybrid Average 28.8%
4 Kia Niro 31.6%
5 Toyota Highlander Hybrid 32.7%
6 Toyota Camry Hybrid 33.5%
7 Honda Accord Hybrid 37.0%
8 Hyundai Sonata Hybrid 41.5%

Electric Vehicles - Five-Year Depreciation 

Electric Vehicles are a fast-growing segment as government incentives expand to encourage their purchase.
Ranking of Electric Vehicles by Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Tesla Model X 38.8%
2 Tesla Model S 43.7%
EV Average 44.2%
3 Chevrolet Bolt EV 47.1%
4 Nissan LEAF 49.1%

Small Cars - Five-Year Depreciation 

Small hatchbacks and sedans have lost ground to small SUVs in terms of consumer demand, but they, along with subcompact cars, remain the lowest cost new and used cars you can buy, and their fuel efficiency has made them more popular over the past year. 

Top 5 Small Cars that Hold Their Value Best

Top 5 Small Cars with the Lowest Five-Year Depreciation
Rank Model Depreciation
1 Honda Civic 16.3%
2 Toyota Corolla 19.8%
3 Nissan Versa 19.8%
4 Chevrolet Spark 20.8%
5 Kia Rio 20.8%
Small Car Average 24.2%
Top 5 Small Cars that Lose the Most Value
Top 5 Small Cars with the Highest Five-Year Depreciation
Rank Model Depreciation
1 Mitsubishi Mirage G4 32.3%
2 MINI Clubman 30.6%
3 Volkswagen Golf GTI 30.5%
4 Nissan Sentra 30.0%
5 Volkswagen Jetta 28.9%
Small Car Average 24.2%

Sports Cars - Five-Year Depreciation 

Sports car demand was high during the pandemic. These fun-to-drive cars offered consumers an accessible form of entertainment in the face of pandemic lockdowns .
Ranking of Sports Cars by Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Subaru BRZ 18.2%
2 Chevrolet Camaro 22.2%
3 Ford Mustang 22.2%
Sports Car Average 22.6%
4 Dodge Challenger 24.2%
5 Mazda MX-5 Miata RF 26.2%

Midsize Trucks- Five-Year Depreciation 

Midsize pickups combine a wide range of functionality with a relatively low price and high fuel efficiency compared to full-size pickup trucks . Newer midsize models, like the Ford Maverick, Ford Ranger, and Jeep Gladiator, aren’t old enough to have 5-year depreciation data yet, but are likely to perform well in this area.
Ranking of Midsize Trucks by Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Toyota Tacoma 14.9%
Midsize Truck Average 20.5%
2 Chevrolet Colorado 24.8%
3 Nissan Frontier 25.3%
4 Honda Ridgeline 31.6%

Full Size Trucks - Five-Year Depreciation 

Full size trucks like the Ford F-Series remain necessary for a wide array of functions and climates. Their flexibility and durability ensure demand, even in the face of higher fuel prices. 
Ranking of Full Size Trucks by Five-Year Depreciation - iSeeCars Study
Rank Model Depreciation
1 Toyota Tundra 20.3%
2 Ford F-150 29.9%
3 GMC Sierra 1500 31.5%
Full Size Truck Average 31.8%
4 Chevrolet Silverado 1500 32.3%
5 Ram 1500 34.7%
6 Nissan Titan 37.2%
7 Nissan Titan XD 37.8%
Bottom Line:

Demand for both new and used cars remains high, keeping their prices high and depreciation low. While that shiny new Chevrolet Corvette, GMC Yukon, Land Rover Range Rover Velar or Lexus IS may look great on the showroom floor, consumers looking to buy a car should consider how long they plan to own it and how much depreciation they want to experience when it’s time to sell or trade in their vehicle. Models with the lowest depreciation tend to cost more up front, but the higher purchase price can be more than made up in reduced loss of value over time.  


iSeeCars analyzed over 3 million used cars from model years 2017 and 2019 sold from January to October 2022. Heavy-duty trucks and vans, models no longer in production as of the 2022 model year, and low-volume models were removed from further analysis. MSRPs from 2017 and 2019 were inflation-adjusted to 2022 dollars based on data from the US Bureau of Labor Statistics. The difference in average asking price for each vehicle between its MSRP and its used car pricing was mathematically modeled to obtain the vehicle’s depreciation.

About is a data-driven car search and research company that helps shoppers find the best car deals by providing key insights and valuable resources, including the iSeeCars VIN Check report and Best Cars Rankings. iSeeCars has saved users over $390 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.