If you’re looking to purchase a vehicle with the best resale value, think twice about that luxury sedan. Pickup trucks generally fare best when it comes to depreciation, finds a study by CarGurus.com.
The study looked at the prices of used cars from the 2008 to 2012 model years from March 2013, to March 2014. Some 577 models were studied, with the median model losing 9.8% over the one-year period.
The 2012 Ram pickup fared best in the study for retained value on a list that also included the Nissan Titan, Ford F-150 and Chevrolet Silverado, along others. The highest-ranking used car on the list was the Dodge Charger in third place.
Among biggest losers, the list includes 2010 BMW 3 Series, 2012 Mercedes-Benz E Series, 2008 Volvo XC90, 2009 Audi A4, 2009 Cadillac STS and 2012 Cadillac SRX.
“Luxury cars tend to be loaded up with options, and we found that options do not hold value,” says Langley Steinert, founder of CarGurus.com. When used car buyers go shopping they don’t care about (fancy) wheels and navigation. It’s about the year and mileage.”