“It is not a cliché that sometimes you get the worst resale value for your trucks or your car as it depreciates, but a car can still be valuable for resale or a trade in.” Most of the times a buyer can purchase a truck having in mind that he will keep it for his personal use for a very long period of time, while other times, he can purchase a truck with the mindset that it will still be valuable for a resale to obtain the new one/model when it comes out.
It is however unfortunate that not all trucks, can remain valuable for a trade in or resale, it is therefore advisable to avoid used truck options that has the worst depreciating nature. Trucks that depreciate easily and fast will have little or no value for a trade in, or resale along the line. On this note, we have brought to you,
The top 5 trucks that have the worst resale value, they are;
1. FORD F-150:
No doubt, this pickup truck is a hotcake, the most sold vehicle and a tempting pickup truck to acquire. However, Ford F-150 has a high depreciation rate; it is easy and fast to depreciate. Research has it that despite being the best selling truck and the truck with high demand rate that its depreciation rate is about 46.9% and this is very alarming as it is almost the national depreciation average for trucks, which is 49.6%.
It is no story that the Ford auto industry produces tempting newest hotter models and people are drawn to make purchases, but it does not take time too and the value of the pickup truck begins to drop. According to research, the high rate of demand of this pickup truck dropped, when Ford switched from steel to aluminum bodies to decrease weight and increase efficiency. Despite being a hotcake, its depreciating rating is alarming.
2. NISSAN TITAN:
According to research, Nissan titan held its value well until 2014. This is another large truck that has failed to hold its value as its depreciation rate is on the increase. Its average depreciation value over five years is 45.9%. Nissan titan is a pickup truck that has low level demand in the auto market, compared to Ford F-150.
However, the Nissan auto industry has continued to make surplus of production and supply of this pickup truck which has a low level of demand, thereby making its value one of the worst in the auto market. This pickup truck has nothing much going on for it.
This is because, not only that its depreciation rate is over average, it also has a disappointing predicted reliability rate according to consumer reports. Thus, if you are thinking of getting a Nissan Titan, with the hope of a mouth watering resale value, then you should reconsider.
3. CHEVROLET SILVERADO 1500:
Chevrolet Silverado is a pickup truck known for its great looks, which makes it easy for buyers to think at first glance that it is a great pickup truck. Chevy has great towing capabilities, as it can tow up to 13,300 pounds, with diverse engines.
These features are remarkable but unfortunately Chevy is one of the pickup trucks with the worst resale value, as it cannot hold up its value for a long period of time. According to research, Chevy has a depreciation rate of 45.2% for a period of five years, which is on the high side.
According to Isee cars report, the average depreciation rate for light duty pickup trucks for a period of five years is 44.1% and from all indications the Chevrolet Silverado exceeds this average in its depreciation rate. Thus despite being a great truck with the looks, its depreciation rate is above average.
4. GMC SIERRA:
This pickup truck is considered a luxury truck and luxurious vehicles are known for faster depreciation rate. The GMC Sierra has a depreciation average rate of 46.1% for a period of five years according to the Isee cars report.
Thus if you are a stickler or sucker for resale value, then do well to avoid the GMC Sierra. The GMC Sierra, despite being a luxurious car and a luxury to own, its depreciation rate is high and not something to be proud of. Not only that, it also has a struggling predicted reliability.
According to consumer reports, the GMC Sierra is known for a disappointing and struggling predicted reliability which puts in a position of a pickup truck to avoid while considering the list of pickup trucks to purchase.
5. RAM 1500:
The honour and award of the truck with the worst and highest depreciation rate goes to the RAM 1500 as it has the depreciation rate of 49.3% for the period of five years according to Isee cars report. Despite having a smoking redesign in its car production and its beautiful features, the pickup truck is extremely disappointing when it comes to maintaining its value rate.
Its depreciation rate is totally above average which proves that this pickup truck will have little or no resale value within the period of five years. Thus for buyers that look forward to a trade in along the line, they should totally avoid RAM 1500 as a pickup truck.
With these evaluations, as a buyer you must see the need to stay clear of pickup trucks that have higher than average depreciating rate as this pickup truck will yield little or nothing in the near future.