There may not be a crystal ball to tell you how much a vehicle will depreciate but this data can help you see the patterns and make the most of your investment.
Though it’s common knowledge that all vehicles lose value, it’s not so easy to predict just how much or how quickly your new car or truck will depreciate as you drive it off the lot.
For that reason, we turned to experts from Kelley Blue Book/Autotrader and CarGurus for advice about making one of life’s biggest purchases – whether it be new or used.
“I encourage people not to think of cars as assets because they are not an appreciating thing,” said Sean Tucker, lead editor with Kelley Blue Book and Autotrader. “But it is still a major investment, and so there’s a reason you don’t want to buy the one that has lost 41% of its value in two years.”
That vehicle, according to Kelley Blue Book data, is the 2023 Tesla Model Y Long Range.
“Our industry has never seen anything like what’s happened to Tesla over the last year,” Tucker said. As CEO Elon Musk worked with President Donald Trump’s administration, Tesla saw the lowest Q1 results in three years.
“We just don’t have a frame of reference for what happens to the value of a car when people start protesting outside the dealerships that sell it,” Tucker said.
Tesla’s Cybertruck stands alone
Regardless of which data you review, the 2024 Cybertruck Cyberbeast 4WD has seen a notable drop:
◾ CarGurus provided an average monthly list price (aka the asking price) for the 2024 model year on its website. Below, see how the gray line trends down as the list price fell from $152,571 in May 2024 to $83,062 in May 2025, a 45.6% decrease.
◾ Kelley Blue Book (KBB), an auto valuation company, provided different metrics: two data points, the average manufacture’s suggested retail price (MSRP) compared with KBB fair price today (orange line). “The fair price takes into account recent transactions within 50 miles of you within the last week and is constantly updated by what people are currently paying where you live,” Tucker said. Based on the national average KBB provided to USA TODAY, a Cybertruck purchased new in May 2024 would fetch about $30,000 less one year later, a 29.4% decrease.
Kevin Roberts, director of economic and market intelligence at CarGurus, cautions that the Cybertruck decline needs some context: “While Cybertruck’s prices in general look stark, there are a couple of things to keep in mind. When they first were offered in November 2023, it was a really limited volume. That limited supply leads to a lot of consumer interest. And then now we’ve seen supply is much more normalized. In fact, you’re hearing that they have too much inventory in the new side, which puts downward pressure on the price.”
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How popular car models depreciate over time
Kelley Blue Book provided us with the same data points: the average MSRP compared with KBB fair price today for a number of popular 2023 models. Here’s what we found:
Trucks
“Toyota is known for its high-end, predictable quality. They just keep their value better,” Tucker said. Also, high resale value might be why you want to buy a Tacoma, Tucker said.
For the F-150, Tucker notes the EV Lightning model had an even larger decrease.
“Ford did everything it could to make those trucks functionally identical,” Tucker said. “With new technology, a new market, there’s always a threat that we don’t face with gas-powered cars, which is that the technology could change drastically in the next few years.”
Midsize and crossover SUVs
The popular Jeep Grand Cherokee saw a 31.3% decline over the past two years. “I think generally I would rather own a 3-year old Subaru than a 3-year old Jeep,” Tucker said. “Jeep is a Stellantis brand, and they have kind of struggled with their long-term quality. I think it’s improving, but that has been the perception for a long time.”
The real standout in the midsize/crossover category is the Hyundai Palisade and its 10-year powertrain warranty, Tucker said. “If you own a 2-year-old palisade, you have eight years left of warranty protection, which is just not the case with either of the other cars in there.”
Compact SUVs
The 2023 Tesla Model Y Long Range saw a 41.1% drop when comparing the KKB fair price in 2023 with the average MSRP. “That comes down to what’s happened to Tesla over the past year or even really the past six months,” Tucker said.
Sedans
The Honda Accord dropped by 17.8%, or roughly $5,500. “Honda, very similar to Toyota, has that strong reliability reputation. These things last forever, and it shows up when it comes time to resell it,” Tucker said.
Vehicles that saw the biggest and smallest changes in used listing prices
CarGurus looked at used 2024 models listed on its site from May 2024 through May 2025. From all vehicles available, it chose the five vehicles that declined the most in listing price and the five that declined the least. What they found:
The five models from CarGuru’s data with the biggest drop in list price from May 2024 to May 2025:
- Tesla Cybertruck: Down $69,509, 45.6% ($152,571 – $83,062)
- Ford F-150: Down $34,833, 37.7% ($92,502 – $57,669)
- RAM 1500: Down $16,279, 25.6% ($63,592 – $47,314)
- Range Rover: Down $43,293, 24.7% ($175,187 – $131,894)
- Jeep Wrangler: Down $15,451, 24.2% ($63,940 – $48,488)
Cybertruck: When looking at the decline in Tesla’s Cybertruck price, the difference can be jaw-dropping. The Cybertruck saw a 45.6%, $69,509, price drop from May 2024 to May 2025. Roberts believes the initial price of the Cybertruck was probably artificially high. “There’s even people I think at time were trying to flip them,” Roberts said. “That drove the average list price higher than what the market would have been.”
Ford F-150, Jeep Wrangler: These models fell victim to an oversupply in the new market because of the 2021-2022 microchip shortage, Roberts said. “2024 is where we really started to see new inventory levels start to recover. And for certain brands, they got way too much inventory. With potential incentives on the new side, that puts more downward pressure on the used side price.”
Land Rover, Range Rover: “Known for its luxury styling and features, but typical of many premium brands, is likely experiencing steeper early price depreciation,” Roberts said.
Ram 1500: “This represents the final year of the previous generation,” Roberts said, “with the all-new 2025 model likely effecting used pricing dynamics.”
The five models from CarGuru’s data that declined the least or are up from May 2024 to May 2025:
- Subaru Crosstrek: Down $36, 0.1% ($29,690 – $29,654)
- Subaru Forester: Down $91, 0.3% ($33,693 – $33,602)
- Porsche Cayenne: Down $1,082, 1.1% ($102,637 – $101,555)
- Toyota RAV4 Hybrid: Down $596, 1.6% ($37,698 – $37,102)
- Porsche Macan: Down $1,342, 1.9% ($70,006 – $68,664)
Subaru: “Subaru is in a situation where they have a lot tighter inventory, particularly for some of those kind of popular CUVs,” Roberts said. “That leads to a situation where, hey, maybe you want a certain model, you might have an easier time on the used market, which helps to kind of prop up those prices.”
Porsche: “Luxury can be different,” Roberts said. “You see a couple Porsches on the lis;, there’s a limited supply in the marketplace and a lot of demand. That can lead to prices actually moving up on some of the used units.”
Toyota RAV4 Hybrid: “Much like the Subarus, the RAV4 continues to face some of the tightest supply in the market,” Roberts said.
