Whether you plan to drive the wheels of your new car or expect to only have it for a relatively short time in its lifespan, resale value is a vital but often overlooked characteristic that should be considered when putting a new model in your garage. After all, buying a car that quickly drops its value could leave you paying more the next time you’re at the dealer, and in some cases, you might even end up upside down on your loan — owing more than what your car is worth.
Many car shoppers tend to buy with short-term needs in mind, but considering the resale value of a car is an important bit of insurance when it’s time to visit the dealership again. And it’s even more critical as new car prices continue to soar. So, which 2023 models are predicted to hold their value best, thereby giving buyers the best bang for the buck when it comes time for something new? According to Kelley Blue Book, these 10 cars, trucks, and SUVs of 2023 are expected to retain their value best over the next five years.
The Jeep Wrangler enjoys a cult-like status that every automaker wants for its models, and the good news for those who give the Wrangler salute to one another is the iconic off-roader holds its value better than almost all new cars on the market. According to KBB, the 2023 Wrangler is expected to hold 61 percent of its value over the next five years. That’s particularly vital as the Wrangler’s price point continues to climb.
The base MSRP for a 2018 Wrangler was just over $25,000. The 2023 Wrangler starts at just under $33,000 with most desirable mid- and upper-mid range models commanding nearly or above $50,000. If KBB’s prediction holds true, a base Wrangler purchased today would still return its buyer about $13,000 in 2028. Even so, the Wrangler isn’t expected to retain its value best among 2023 model year all-terrain toys.