Which GM vehicles hold their value longest in Florida?
When buying a new car, resale value is an important point to consider. After all, getting a car with a great resale value can help with things quite a bit when the time for trade-in rolls around. Driving a vehicle that depreciates heavily in value will make one’s next purchase all the more expensive. Lease costs are also based on the cost of depreciation, so leasing a vehicle that depreciates more slowly will result in lower rates.
Here at Carl Black, we hold an obvious fondness for GM rides, and believe they make excellent candidates for rolling around Orlando and the entire central Florida region. Which GM vehicles hold their value the longest in the area?
GM Models with Highest Resale Value in the Sunshine State
The top-rated GM vehicles in terms of maintaining resale value are the GMC Sierra, Chevy Silverado, and Chevy Colorado. The average vehicle loses 50.2 percent of its initial value over five years. The Chevy Silverado 1500 and GMC Sierra pickups lose an average of 39.7% and 39.9%, respectively.
Let’s take a deeper look at each of these venerable, value-retaining rides below.
GMC Sierra Resale Value
The 2018 GMC Sierra was noted for maintaining 58.4% of its resale value after 36 months, and 51.9% at 60 months.
Chevrolet Silverado Resale Value
The 2018 Chevy Silverado held its resale value at 58.4% at 36 months, and 51.9% at 60 months.
Chevrolet Colorado Resale Value
The 2018 Chevy Colorado held 60.5% of its resale value at 36 months, and 47.5% at 60 months.
Why are they all pickup trucks?
In general, pickup trucks and SUVs hold their resale value better than other body types. Evidence of this factoid can be seen in a 2018 study from iSeeCars, which looked at the five-year average of depreciation for 4.3 million new and used car sales.