Here’s a simple fact. There are some cars that are just better than others in every possible way. They are more powerful. They are faster. They look better. And yes, they can be a lot more expensive. However, that doesn’t necessarily mean that they are not prone to depreciation.
If you love cars, you would most likely be aware that vehicles come with a common flaw. That is, they tend to become a victim of depreciation over time. According to a study conducted by the American Automobile Association (AAA) in 2018, depreciation tends to cost new car owners more than $3,000 each year. Moreover, “once-popular” cars experienced an increase in depreciation cost by as much as 13 percent last year.
Indeed, a car could essentially lose all its value in a matter of years due to depreciation. In fact, some are now practically worthless. Find out what these models are, along with those that managed to skyrocket in value:
20 Lost: Nissan Leaf
According to a study conducted by automotive research firm iSeeCars.com, the Nissan Leaf depreciates by as much as 71.7 percent over the course of five years. Let’s face it, the electric car scene has become increasingly competitive. And in some ways, the Leaf has already become a thing of the past.
19 Lost: Kia Cadenza
For the record, the Kia Cadenza is a decent car. However, how many of you have heard of it? That is precisely i’s problem. The Cadenza is barely recognized in the car market that it causes its value to depreciate rather quickly. The 2019 Cadenza also comes with a starting price of $33,100 and that might not seem attractive when you’re barely familiar with the car model.
18 Lost: Hyundai Genesis
The Genesis is a sleek car that topped J.D. Power’s APEAL study in 2018. Despite this recognition and all its good reviews, however, the car has suffered low sales. The reason for this is that there is a lack of familiarity for this car and its luxury brand. As Kelley Blue Book executive analyst Akshay Anand told Autoblog in an email, “Many consumers aren't even aware of the brand and what it has to offer.”
17 Lost: GMC Yukon
According to a computation by GM Authority, the GMC Yukon has one of the highest depreciation rates among SUVs today. In fact, it is estimated that a Yukon XL loses as much as 61.3 percent in value in a span of five years. Based on current listings on Edmunds, you can own a 2014 GMC Yukon XL for as low as $29,800 today.
16 Lost: Chevrolet Volt
As we have mentioned earlier, depreciation is pretty tough on electric and hybrid vehicles. In fact, according to iSeeCars.com, the Chevrolet Volt tends to depreciate by as much as 71.2 percent in just five years. And with a starting price of $33,520 for a 2019 model, the car is practically worthless in just a few years.
15 Lost: Lincoln MKS
The Lincoln MKS may be a luxury sedan, but that doesn’t mean that it’s not prone to depreciation. According to a study by iSeeCars.com back in 2016, the MKZ lost as much as 34.5 percent of its value in a single year. And so, it’s no wonder that Lincoln decided to stop production on the model already.
14 Lost: Audi Sedans
Unfortunately, it seems that Audi sedan models S4, S5, S6, and S7 do not fair well when it comes to depreciation. Perhaps, that’s because these car models tend to run into all sorts of issues that require repair. In fact, Consumer Reports once referred to Audi cars as “a sinkhole of service problems.”
13 Lost: Mercedes-Benz E-Class
According to iSeeCars.com, the Mercedes-Benz E-Class has a relatively high depreciation rate of 67.2 percent in just five years. Just to give you an idea, the 2014 E-Class that once sold for $51,400 to $102,370 now sells for only $21,701 to $53,879, according to U.S. News & World Report. Suddenly, it doesn’t appear like a good investment.
12 Lost: BMW 5 Series
According to a 2018 study by Auto Trader, the BMW 5 Series loses as much as 52.6 percent of its value in just three years. In addition, the 2018 study by iSeeCars.com also found that the model would depreciate by as much as 67.3 percent in a matter of five years. This may explain why a 2014 BMW 5 Series that was originally priced from $49,500 to $92,900 is now worth $18,749 to $41,344, according to U.S. News & World Report.
11 Lost: BMW SUVs
Unfortunately, various BMW SUV models also tend to lose a lot of value over time. In fact, iSeeCars.com computed the five-year depreciation rate of the X1, X3, X5, and X6 to be at 62.9%, 64%, 65.6%, and 62.7% respectively. Moreover, iSeeCars CEO Phong Ly noted, “The high repair cost of German vehicles like BMWs is another factor in the high depreciation of these vehicles.”
10 Skyrocketed: 2008-2009 Pontiac G8 GXP
For a lot of car enthusiasts, the 2008 to 2009 Pontiac G8 XP is a true classic. According to Hagerty, the design behind this model was based on Pontiac’s “Holden connection.” Holden happens to be GM’s Australian division and as Hagerty noted, “Since Australians do whatever they want, they didn’t as readily submit to wrong-wheel drive like GM of North America did from the late 1980s on.” Today, collectors are reportedly paying eight percent more for the car compared to last year. Trends also indicate that the price would just keep going up.
9 Skyrocketed: 2004-2006 Dodge Ram SRT 10
The Dodge Ram SRT 10 is a truck model that was only produced from 2004 to 2006. It is a unique truck that features a relatively short cargo bed and an 8.3-liter Viper V10 engine. Today, according to estimates from Hagerty, an SRT 10 in excellent condition can be worth as much as $45,000.
8 Skyrocketed: 1984-1993 Mercedes-Benz 190
In 2016, Hagerty noted that the 1984 to 1993 Mercedes-Benz 190 is “positioned to appreciate.” Moreover, it explained, “The German’s values have tracked the overall market closely, but we’ve noticed a spike in the number of 190s that people have added to their policies, along with a jump in overall interest.”
7 Skyrocketed: 1996 Chevrolet Corvette Grand Sport
The 1996 Chevrolet Corvette Grand Sport marks the end of the Corvette C4 generation. It boasted of an LT4 5.7-liter V8 engine that could crank out 330 horsepower and 340 pound-feet of torque. It also has a top speed of 168 miles per hour. According to Hagerty, the price for this car now ranges between $36,100 to $49,500 since only 1,000 units of the model were made.
6 Skyrocketed: 1976 Porsche 912 E
The 1976 Porsche 912 E is quite a treasured car because there’s nothing else like it. 1976 was the only year that Porsche decided to make it and during production, only 2,099 units were made. According to RM Sotheby’s, the 912 E body was based on the 911 2.7. Its engine is identical to the 914. However, this one was given a K-Jetronic fuel injection system. This allowed the engine to reach a top speed of 115 miles per hour. Originally, the car has an MSRP of $10,845. Today, NADAGuides estimates that it’s worth as much as $32,500.
5 Skyrocketed: 1998 Porsche 911 Turbo S
The 1998 Porsche 911 Turbo S has the distinction of being one of the most impressive air-cooled 911 cars ever built. It boasts of a six-cylinder engine that could produce up to 282 horsepower. According to RM Sotheby’s, a 1998 911 Turbo S sold for a staggering £297,500 (approximately $366,609.25) back in 2017. This year, you can expect the price to be higher.
4 Skyrocketed: 1963 Mercedes-Benz 300SL
The 1963 Mercedes-Benz 300SL comes in two styles: a hot roadster and a coupe that comes with “Gullwing” doors. The roadster version first made its debut at the 1957 Geneva Motor Show. According to the Robb Report, the cars have reached “superstar status” since they feature “the extremely rare combination of an alloy block engine and disc brakes.” According to NADAGuides, the roadster version had an original MSRP of $11,099. Today, it is worth as much as $1,470,300.
3 Skyrocketed: 1984 Pininfarina Azzurra
Time Magazine once referred to the year 1984 as “the year of the yuppie.” And so, during this time, Sergio Pininfarina, who designed for both Ferrari and Jaguar, thought he would come out with the Azurra, a sports car that is perfect for the rising middle class. Today, a 1984 Azzurra sells for as much as $14,995 according to records from Hemmings.
2 Skyrocketed: 1990-1998 Lamborghini Diablo
During the production of the 1990 to 1998 Lamborghini Diablo, the carmaker itself when through three ownership changes. In fact, Lamborghini was under the ownership of the Mimran brothers, Chrysler, MegaTech and finally, Volkswagen throughout the Diablo’s lifecycle. Despite these changes, the Diablo developed a reputation for being an incredibly fast car. According to Exotic Car List, it initially fetched a price of $239,000. Today, it’s worth as much as $2.4 million, according to Classic Driver.
1 Skyrocketed: 1957 Ferrari 410 Superamerica SIII
The 1957 Ferrari 410 Superamerica SIII was introduced to the public at the Paris Auto Show back in 1955. The car boasts of a 4.9-liter 60-degree Lampredi V12 engine that could crank out 340 horsepower at 6,000 rpm and achieve a top speed of 150 miles per hour. In a book, one owner, Dyke Ridgley, proclaimed that this was “a car of such presence and power for its era, as to almost defy description.” According to Hagerty, this car can fetch a value of up to $3 million today.
Reference: iSeeCars.com; Autoblog; U.S. News & World Report; Hagerty