Whether you plan to drive the wheels of your new car or expect to only have it for a relatively short time in its lifespan, resale value is a vital but often overlooked characteristic that should be considered when putting a new model in your garage. After all, buying a car that quickly drops its value could leave you paying more the next time you’re at the dealer, and in some cases, you might even end up upside down on your loan — owing more than what your car is worth.
Many car shoppers tend to buy with short-term needs in mind, but considering the resale value of a car is an important bit of insurance when it’s time to visit the dealership again. And it’s even more critical as new car prices continue to soar. So, which 2023 models are predicted to hold their value best, thereby giving buyers the best bang for the buck when it comes time for something new? According to Kelley Blue Book, these 10 cars, trucks, and SUVs of 2023 are expected to retain their value best over the next five years.
10 Jeep Wrangler
The Jeep Wrangler enjoys a cult-like status that every automaker wants for its models, and the good news for those who give the Wrangler salute to one another is the iconic off-roader holds its value better than almost all new cars on the market. According to KBB, the 2023 Wrangler is expected to hold 61 percent of its value over the next five years. That’s particularly vital as the Wrangler’s price point continues to climb.
The base MSRP for a 2018 Wrangler was just over $25,000. The 2023 Wrangler starts at just under $33,000 with most desirable mid- and upper-mid range models commanding nearly or above $50,000. If KBB’s prediction holds true, a base Wrangler purchased today would still return its buyer about $13,000 in 2028. Even so, the Wrangler isn’t expected to retain its value best among 2023 model year all-terrain toys.
9 Subaru Crosstrek
The Subaru Crosstrek is effectively the higher-riding cousin of the Impreza that offers the brand’s signature all-wheel drive and far more all-terrain capability than many modern compact SUVs. Additionally, it comes with Subaru’s long track record of reliability, one of the reasons likely contributing to the brand’s buyers continually returning to Subaru dealerships. Another reason can be attributed to Subaru models holding their value well. KBB states the 2023 Crosstrek is expected to retain 61 percent of its value over the next five years, tying it with the Wrangler.
The 2023 Crosstrek is offered with a choice of drivetrains and six trims, including a hybrid model. With a starting price of $26,290, it costs a few thousand more dollars than some of its competitors, but of course, it’s likely to get a better trade-in value in the coming years.
8 Ford Maverick
The Ford Maverick, alongside the Hyundai Santa Cruz, has shown there is still a viable market for compact pickup trucks. The Maverick may not have the same level of capabilities as its bigger brothers, the Ranger and F-150, but it still packs plenty of pickup practicality into an affordable package. And for those who don’t need the capabilities of a full- or mid-size truck but still want a competent truck, the Maverick holds its value better than its rival and any of its Ford pickup stablemates.
The 2023 Maverick should hold 61.7 percent of its value in five years, KBB predicts. That makes it one of just three truck entries to make the top-10 list. Prices for the 2023 Maverick start at $23,690. A retained value of 61.7 percent equals the base 2023 Maverick being valued at nearly $15,000 in five years.
7 Honda Civic
The Honda Civic has been a stalwart among the best-ranked models for decades, and it is always near, if not atop, the sales figures for retail passenger cars sold in the U.S. And good news for buyers of the 2023 model, the Civic is expected to retain 62.5 percent of its value by 2028. With prices ranging from $24,545 for the base LX and up to $32,045 for the Sport Touring Hatchback, the Civic should still command a pretty penny that adds to its already strong value-for-dollar.
The Civic is the only Honda to make the list of KBB’s best resale value propositions of 2023, but the larger Accord is another strong option. It’s expected to hold nearly 57 percent of its value over the next five years.
6 Toyota 4Runner
The Toyota 4Runner is a bit of a throw-back with its ladder-on-frame construction and relatively ancient V-6 engine and five-speed transmission. That has done little to hurt its reputation or impact sales. The 4Runner’s off-road prowess and old-school SUV charm still has buyers lining up at the dealer, and those who fork over for the 4Runner can expect a good return on their investment.
According to KBB, the 2023 4Runner is expected to hold 64.4 percent of its value over the next five years. A base SR5 model rings in at $40,390 for 2023, meaning buyers can expect about $26,000 out of their purchase in 2028. And if the 4Runner doesn’t fit their needs, there are two other options at the Toyota dealership that rank even higher in expected resale value.
5 Chevrolet Corvette
The automotive landscape has become smitten with the new C8 Corvette, and for good reason. It’s an American-made, mid-engine supercar that provides the kind driving thrills that simply beguiles its $65,895 starting price. The 2023 Corvette is motivated by a 6.2-liter V-8 cranking out 490 horsepower, zipping the ‘Vette from 0-60 mph in 2.9 seconds. And that’s the standard version, mind you.
As the Corvette celebrates its 70th anniversary, buyers can still expect to get a lot of money out of their 2023 model when the ‘Vette’s 75th year comes around. KBB predicts the 2023 Corvette will retain 65.3 percent of value over the next five years, and it’s the only sport car to crack the top-10 list.
4 Ford Bronco
The 2023 Ford Bronco can be had in either two- or four-door body styles with a selection of 10 trims, and enough after-market parts to keep entire specialty dealers in business. And no matter how buyers spec out their 4X4 off-road attacker, the 2023 Bronco is likely to return much of its value over the next five years and better than any other all-terrain beast on this list, including the Wrangler and 4Runner.
KBBpredicts the current Bronco has a five-year resale value of 65.4 percent of its original price. For a $36,390 base model, that equates to a value of nearly $24,000 in 2028. Its collectability and devout following could also help make it a bit of a collector’s item, particularly for models like the 2023 Heritage Limited Edition.
3 Tesla Model X
The 2023 Tesla Model X holds two distinctions on KBB’s best resale value top 10 list for 2023 — it’s the only EV in the rankings and the top SUV. The Model X is predicted by KBB to retain just under two-thirds, 66 percent, of its value over the next five years. This is good news for the Tesla faithful as the Model X now must stack up against a host of new rivals like the Rivian R1S, Cadillac Lyriq, BMW iX, and others in the luxury all-electric SUV segment.
With a starting price of $101,380, a base Model X should still return buyers about $67,000 by 2028. Those who opt for the Plaid version and its ridiculously powerful 1,020-horsepower, tri-motor setup are asked to pay $10,000 more, but as such, they should expect close to $80,000 for their investment in five years.
2 Toyota Tacoma
Call it a Tacoma, a Taco, or a Yota, call Toyota’s 2023 mid-size truck whatever you like, and no matter, you can still dub it a great resale value. The Tacoma ties the Model X on KBB’s list for resale value over the next five years with an expected value retention of 66 percent. That’s no real surprise if you’ve ever shopped around for a used Tacoma and have been staggered by just how high prices are for used models.
The current-gen Tacoma has been around for eight years, but it remains the best-selling mid-size truck of them all and is best-seller in 2022 annual sales among all models on this list. The 2023 Tacoma starts at $29,085, so buyers should expect it to still hold a value around $19,000 in five years.
1 Toyota Tundra
The Toyota Tundra can’t compete with the sales figures of the Ford F-150, Ram 1500, or Silverado 1500, but those pickups can’t compete with Tundra’s predicted ability to hold its value. The Tundra takes the top spot on KBB’s best resale value top 10 for 2023 with a staggering 73.3 percent five-year resale value. That means buyers of a $39,660 base SR model can still expect their pickup to be valued at a staggering $29,000 in five years.
The Tundra’s monumentally high expected five-year resale value isn’t surprising given the resale value of prior year models, and to boot, Toyota was ranked as the best brand in KBB’s best resale value among all automakers. The Tundra undoubtedly helps Toyota’s cause to help it retain its title of best resale vale brand for the sixth time in seven years.