Wise people have sometimes said it’s not smart to treat a vehicle as an investment. Instead, just enjoy the ride and don’t think you’re going to make a buck off your vehicle.
But human nature being what it is, many folks do worry about how much their car will depreciate over the years.
If that’s your concern and you’re a Corvette owner, you don’t have to worry as much as many people.
According to iSeeCars annual research that surveys the amount of depreciation for vehicles, the Corvette ranks fifth in their ranking of 5-year depreciation for sports cars, with the Corvette holding 44.4 percent of its value during that period. The sports car average is 41.6 percent, with the Corvette ranking below Porsche 911 at 36.0 percent, Subaru WRX at 39.8 percent, Dodge Challenger at 40.6 percent, and Ford Mustang at 44.1 percent but ahead of the Chevrolet Camaro at 46.8 percent, Dodge Charger at 51.3 percent, BMW M4 at 55.1 percent, and Maserati Ghibli at 69.0 percent.
With the introduction of the highly popular C8 Corvette in 2020, it’ll be interesting to see how the new mid-engine ranks in five years. Will the current hot market translate into lower depreciation, or will the amount wind up being similar to the C7 as the novelty of the C8 wears off? Only time will tell.
In the meantime, it’s interesting to see how other vehicles are faring now. For instance, the Jeep Wrangler tops the list of all vehicles with just 30.9 percent depreciation, compared to the average of 49.1 percent. The BMW 7 Series and 5 Series lead the way with the most depreciation, with 72.6 percent and 70.1 percent, respectively.
According to iSeeCars.com, the new vehicles that retain the most value overall after five years are trucks, truck-based SUVs, and sports cars, while luxury sedans depreciate the most.
“While the average new vehicle loses almost half of its value after five years, there are vehicles that retain more of their value and depreciate less than average,” said iSeeCars Executive Analyst Karl Brauer. “For consumers who purchase new vehicles and plan to sell them in the first 5 years of ownership, choosing a model that retains the most value is a smart economic decision, especially when you consider depreciation is the single large ‘cost’ to owning a vehicle.”
iSeeCars.com analyzed more than 8.2 million car sales to identify models with the lowest and highest loss in value after five years.
STUDY: Consumers are Googling the Ford Bronco and the C8 Corvette Stingray
STUDY: Manual Stick Shifts Are Even Less Popular Than EVs
STUDY: The Corvette Is One of the Least Accident-Prone Vehicles on the Road