The Best Cars for Resale Value in 2024

When purchasing a new vehicle, savvy buyers consider not only the initial cost and features but also how well the car will retain its value over time. Resale value is a crucial factor that can save you thousands of dollars when it’s time to upgrade or sell. Some vehicles depreciate rapidly, losing a significant portion of their worth within just a few years, while others hold their value remarkably well.

In 2024, certain models stand out for their strong resale performance, thanks to factors like brand reputation, reliability, demand, and market trends. Whether you’re looking for a rugged pickup truck, a fuel-efficient hybrid, or a luxury SUV, choosing a car with high resale value ensures a better return on your investment. Below, we explore the best cars for resale value in 2024, categorized by vehicle type.

1. Compact and Subcompact Cars

Toyota Corolla

The Toyota Corolla has long been a leader in reliability and value retention. Its reputation for durability, low maintenance costs, and strong demand in the used car market make it a top choice. The hybrid version, in particular, is gaining popularity due to rising fuel prices, further boosting its resale appeal.

Honda Civic

Another perennial favorite, the Honda Civic, offers a blend of sporty styling, fuel efficiency, and a well-built interior. Honda’s strong brand loyalty ensures that used Civics remain in high demand, especially the performance-oriented Si and Type R trims.

Mazda3

Mazda has elevated its reputation with premium interiors and engaging driving dynamics. The Mazda3, with its upscale feel and Skyactiv technology, holds its value better than many competitors in its class.

2. Midsize and Full-Size Sedans

Toyota Camry

The Camry continues to dominate the midsize sedan segment with its bulletproof reliability and strong resale value. Hybrid models are especially sought after, as buyers increasingly prioritize fuel efficiency.

Honda Accord

The Accord remains a top pick for its refined ride, spacious cabin, and excellent fuel economy. Its reputation for longevity ensures strong demand in the used car market.

Subaru Legacy

Subaru’s all-wheel-drive system gives the Legacy an edge in regions with harsh weather conditions, contributing to its strong resale value. The brand’s loyal customer base also helps maintain demand.

3. SUVs and Crossovers

Toyota RAV4

The RAV4 is one of the best-selling SUVs in America, and its hybrid and plug-in hybrid variants (RAV4 Prime) are especially desirable. Toyota’s reputation for reliability keeps depreciation low.

Honda CR-V

The CR-V combines practicality, fuel efficiency, and a comfortable ride, making it a favorite among families. Its strong resale value is bolstered by Honda’s dependable engineering.

Subaru Forester

With standard all-wheel drive and excellent safety ratings, the Forester is a top choice for outdoor enthusiasts. Subaru’s loyal following ensures strong resale performance.

Lexus RX

Luxury SUVs often depreciate quickly, but the Lexus RX bucks the trend. Its reputation for reliability, refined interior, and hybrid options help it retain value better than many European rivals.

4. Trucks and Off-Road Vehicles

Toyota Tacoma

The Tacoma is the gold standard for midsize trucks when it comes to resale value. Its rugged durability, off-road capability (especially in TRD Pro trim), and cult-like following keep demand high.

Ford F-150

America’s best-selling truck also holds its value exceptionally well, especially with the hybrid PowerBoost and high-performance Raptor models. Fleet demand and strong brand loyalty contribute to its resale strength.

Jeep Wrangler

Few vehicles retain value like the Wrangler. Its iconic design, off-road prowess, and strong enthusiast community ensure that used models command premium prices, even with high mileage.

Toyota 4Runner

Another off-road legend, the 4Runner, ages like fine wine in the resale market. Its body-on-frame construction and reputation for reliability make it a favorite among adventure seekers.

5. Hybrid and Electric Vehicles

Tesla Model Y

Despite fluctuations in the EV market, Tesla’s Model Y remains one of the best electric vehicles for resale value due to its brand recognition, over-the-air updates, and strong demand.

Toyota Prius

The redesigned 2024 Prius boasts a sleeker design and improved performance, making it more desirable than ever. Toyota’s hybrid expertise ensures strong resale performance.

Ford Mustang Mach-E

As one of the most popular electric SUVs, the Mach-E benefits from Ford’s strong dealer network and growing interest in EVs, helping it maintain solid resale value.

Factors That Influence Resale Value

Several key factors determine how well a car retains its value:

• Brand Reputation: Toyota, Honda, and Subaru are known for reliability, which keeps depreciation low.
• Demand: High-demand models (like trucks and hybrids) depreciate slower.
• Fuel Efficiency: Rising gas prices increase demand for hybrids and EVs.
• Condition and Maintenance: Well-maintained cars with complete service records fetch higher prices.
• Limited Supply: Vehicles with production constraints (e.g., Jeep Wrangler 4xe) often hold value better.

Final Thoughts

If you’re looking for a vehicle that will retain its value over time, sticking with reputable brands like Toyota, Honda, and Subaru is a smart move. Trucks, hybrids, and off-road-capable SUVs tend to perform best in the resale market. By choosing one of the models listed above, you can maximize your investment and enjoy a higher return when it’s time to sell or trade in.

Whether you prioritize fuel efficiency, luxury, or rugged capability, there’s a high-resale-value vehicle in 2024 to suit your needs. Plan wisely, and your next car could be an asset rather than a depreciating expense.