The pickup truck is an American symbol, but buying a new one is costly. Buyers tend to look out for trucks that cost less, tow and lift more, and drive faster. One thing they don’t look out for is resale, so let’s look at the pickup trucks with high depreciation rates from worst to best.
How Do We Depreciate A Truck?
To explain it in simple words, depreciation in value is the difference between what you paid for an object to purchase it, and what its worth is when you plan on selling or trading it in. This applies to automobiles, including trucks as well.
After you have paid for your truck, and you drive it out of the dealership, it loses its initial value. Then, as you put miles on it, and add wear and tear on its components, the value decreases even more by the year. Add new models from the company to the mix, and the value goes down even further.
The data about to be displayed is from a fresh set of info released by the automotive research firm “iSeeCars”. They have analysed data collected from 7.7 million car sales from 2015; and have determined the average depreciation rate of light-duty pickups, after five years of ownership at 44.1pc.
Now that you know the average percentage, you should rightfully shy away from buying any trucks that depreciate higher than it.
Pickup Trucks with High Depreciation Rates
Chevrolet Silverado 1500 Depreciation Rate
We start off with a great truck with lots of features and impressive figures. Unfortunately, the Chevy Silverado 1500 depreciates more than the average five-year rate of 44.1pc for light-duty pickup trucks, at 45.2pc. It still holds up its value better than all the other trucks of its range, however.
Another truck from the Chevrolet family won’t be worth the same; the Colorado also struggles in value after ownership begins. A Chevrolet Colorado will lose around 46pc of its value in the first five years, after you buy it.
GMC Sierra 1500
The Chevy Silverado’s upscale cousin, the GMC Sierra 1500, should lose around 46.1pc of its original value over the first five years of ownership. What doesn’t help are the poor reliability ratings published for the Sierra 1500 and the next truck on this list.
One of the reasons people buy Japanese vehicles is because they are supposed to retain their value better. However, the Nissan Titan disappoints with depreciation of 46.9pc in the first five years of ownership. This rate exceeds the average rate of depreciation which is also a sad statement.
Ford F-150 Depreciation Rate
The Ford F-150 is the best-selling pickup truck today, probably because people don’t know that it depreciates quickly, even quicker than the average car. A new Ford F-150 will depreciate 47.3pc over five years. This is an increase from the 46.9pc rate from last year.
It is alarming that the best pickup truck today also tops the trucks’ list with the worst depreciation rate. A Ram 1500 is said to depreciate 49.3pc over five years; as soon as you drive it out of the showroom. The Ram has climbed up in depreciation from 45.2pc from last year.