- Automotive research firm iSeeCars.com has compiled a list of 10 SUVs with the highest depreciation after five years of ownership.
- The Lincoln MKT tops the list, with a depreciation of 66.1% in five years – a $US37,997 difference.
- The list includes Lincolns,BMWs,INFINITIs, and a GMC, Cadillac, and Audi.
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The automotive research firm iSeeCars.com has compiled a list of 10 SUVs that depreciation the most within five years of ownership.
On average, SUVs lose 51.6% of their value over five years. However, the cars on the list depreciate between 63.4% to 66.1%.
Nine out of the 10 on the list are luxury vehicles. iSeeCars CEO Phong Ly claims this is because luxury SUVs have a high MSRP, which often has to drop significantly in order to attract buyers who are shopping for used cars. This includes BMWs, which grace the list three times – more than any other automaker.
“The high maintenance and repair costs of German vehicles like BMWs leads to the high depreciation of these vehicles,” Ly said.
However, the list is topped by the Lincoln MKT, which has a 66.1% depreciation rate. The car has an average new price of $US56,474, but after five years of ownership, the car resales for about $US19,123, according to the firm.
iSeeCars.com analysed the prices of over 6.9 million new cars for the study, which also includes pickup trucks, SUVS, and noncategorized cars from the 2014 model year also sold that year. These prices were compared to more than 800,000 used cars from the same model year sold between January to October 2019, adjusting 7.9% for inflation.
Keep scrolling to see which SUVS depreciate the most:
10. Infiniti QX80: 63.4% depreciation with a difference of $US49,307.
9. BMW X1: 63.4%depreciation with a difference of $US26,935.
8. Audi Q7: 63.5% depreciation with a difference of $US43,269.
7. Cadillac Escalade ESV: 63.6% depreciation with a difference of $US53,992.
6. BMW X6: 63.8% depreciation with a difference of $US50,371.
5. Infiniti QX60: 63.9% depreciation with a difference of $US35,298.
4. GMC Yukon XL: 64.4% depreciation with a difference of $US43,945.
Ly claims it’s unsurprising that the GMC Yukon XL has a high depreciation rate.
“The Yukon XL is … a common livery vehicle, so its high mileage likely brings down its price.”
3. BMW X3: 65.1% depreciation with a difference of $US35,199.
2. Lincoln Navigator L: 65.7% depreciation with a difference of $US45,378.
“The Lincoln Navigator L is a common livery vehicle, so its resulting high mileage likely has a negative effect on its resale value,” Ly said.
1. Lincoln MKT: 66.1% depreciation with a difference of $US37,997.
“Although it has an abundance of cargo space, the Lincoln MKT has drawn criticism for its styling, so its low resale value is likely due to buyers favouring other vehicles in the highly competitive midsize SUV segment,” Ly said.
Thee MKT was discontuined after the 2019 model year.
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