6 New Cars for 2024 That Will Hold Their Value
The most important cost considerations when buying a new car are the purchase price, long-term ownership costs and depreciation rate. Buyers often gloss over that last one, but they shouldn’t. After all, a car that holds its value well makes for a useful trade-in when it comes time to buy again.
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A recent iSeeCars study identified the vehicles with the lowest and slowest depreciation rates. GOBankingRates used that study to identify which models to consider, if you’re concerned with resale value above all else. It’s a something-for-everybody list that includes a high-end sports car, an affordable sports car, a pickup, an off-road vehicle, a sedan and a pony car.
These are the vehicles that guard their value more jealously than all the rest.
Porsche 911 Coupe
Average 5-year depreciation: 9.3%
Average difference from MSRP: $18,094
The Porsche family of 911 coupes starts at $114,400 and goes up to nearly $300,000 for the most exotic models.
Life behind the wheel of one of the world’s most prestigious nameplates isn’t cheap, but no car clings more tightly to its value. Porsche 911 coupes include the Carerra, Targa, GT3 and Turbo models, as well as the high-end Dakar and S/T.
No matter your choice, you get Porsche performance, craftsmanship, precision and, of course, bragging rights.
For context as to just how impressive the 911’s value retention is, the No. 2 slowest depreciating vehicle is the Porsche 718 Cayman, which loses 17.6% of its value over five years — nearly double the 911.
See: I’m a Car Salesman: 3 Things About Pricing I Don’t Want Customers To Know
Read: 5 Used Cars You Shouldn’t Buy
Toyota Tacoma
Average 5-year depreciation: 20.4%
Average difference from MSRP: $8,359
The Tacoma is a powerful pickup built for the trails with 326 horsepower and a 6,500-pound towing capacity. It starts at $31,500 and no truck holds its value better — in fact, the Tacoma is the only pickup in the top 10.
Available with a five- or six-foot bed, it packs 465 pound-feet of low-end torque, which you’ll feel instantly as soon as you hit the gas.
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Jeep Wrangler
Average 5-year depreciation: 20.8%
Average difference from MSRP: $8,951
The ultimate adventure vehicle, the mighty Jeep Wrangler starts at $31,995 — and you can expect to get roughly four out of five of those dollars back if you sell it five years after purchase.
The Wrangler Rubicon gets best-in-class horsepower (470), torque (470 pound-feet) and towing capacity (5,000 pounds). The exterior is redesigned across the entire 2024 lineup, which has earned the coveted Trail Ready badge.
Honda Civic
Average 5-year depreciation: 21.5%
Average difference from MSRP: $5,817
A perennial contender for the most reliable and cheapest-to-own car on the road, the Honda Civic starts at $23,950, and it sheds less than $6,000 of that over a half-decade. With excellent fuel economy of 31/40 city/highway mpg and rock-bottom annual maintenance costs that RepairPal cites at just $368, it’s also one of the most affordable cars in terms of long-term ownership costs.
The cockpit is packed with impressive tech considering the price, and standard safety features include the Honda Sensing Suite, collision-mitigation braking and road-departure mitigation.
Subaru BRZ
Average 5-year depreciation: 23.4%
Average difference from MSRP: $8,114
In general, it’s hard to find inexpensive Subarus on the used market, because they hold their value so well — but none depreciate slower than the sleek and stylish BRZ. A classic two-door, rear-wheel drive sports car, the BRZ starts at $30,195, which is a bargain considering it buys you a standard 2.4-liter direct-injection Subaru Boxer engine that drums up 228 horsepower — more than the Honda Civic Si and Mazda MX-5 Miata.
In 2023, Kelley Blue Book rated it the least expensive car to own in its class, with a five-year ownership cost that’s $16,519 less than the average sports car.
Read: 7 Hybrid Vehicles To Stay Away From Buying
Chevrolet Camaro
Average 5-year depreciation: 24.2%
Average difference from MSRP: $10,161
The 2024 Chevy Camaro starts at $30,900, which puts it roughly on par with the Subaru BRZ in terms of both cost and depreciation. Elegant but muscular, the current Camaro has three available powertrains and several trim packages that include a beastly 650 available horsepower and 3.5-second 0-60 acceleration. A 3.6-liter V6 engine is standard on what will be the last model year for the sixth generation of this American classic.
Photo Disclaimer: Please note photos are for illustrative purposes only and might not feature exact models, base models or the cars’ specific trim levels. As a result, some of the cars in the photos might have different MSRPs than the ones listed in this article.
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This article originally appeared on GOBankingRates.com: 6 New Cars for 2024 That Will Hold Their Value
