There’s a lot of satisfaction and enjoyment that comes along with buying a new or used vehicle. Less appealing is the drop in value as your vehicle gets older. Depreciation is typically unavoidable, but certain vehicles tend to hold their value better than others once they enter the used car market. The reasons can vary, but it mostly comes down to how desirable the vehicle is.
Information on which vehicles hold their value best isn’t readily accessible, but savvy shoppers can use it to pick a vehicle that depreciates less than average over the long haul. The car experts at Edmunds analyzed sales transaction data and compared the average transaction price of used 2023 model-year SUVs with their original manufacturer’s suggested retail price. From there, they identified the top two SUVs in five size categories that hold their value best. These rankings are specific to the 2023 model year but could also be seen as solid bets if you buy a new 2026 model.
Extra-small SUVs: Toyota Corolla Cross and Honda HR-V
The Toyota Corolla Cross is a subcompact SUV that excels as a practical and budget-friendly vehicle. It comes with many standard driver assist features and offers ample cargo space for its size. The Corolla Cross isn’t flashy, but it can’t be beat for value considering it’s worth 81.7% of its original value after three years of ownership.
Nipping at the heels of the Corolla Cross, the HR-V will also appeal to SUV shoppers who want a practical means of transportation. Edmunds praised the HR-V’s amount of passenger space and cargo volume but was underwhelmed by its slow acceleration.
Small SUVs: Toyota RAV4 Hybrid and Honda CR-V
Among small SUVs, the Toyota RAV4 aces the fundamentals. It’s comfortable and roomy, and it’s available in a wide range of trim levels to suit varied budgets. Excellent performance in crash tests is another draw, as is great fuel economy. It all leads to the RAV4 Hybrid having a strong 81.4% residual value in our analysis.
Close behind is another very popular small SUV, the Honda CR-V. A smooth ride and easy-to-use tech features are just some of the CR-V’s positive attributes. Edmunds also singled out its easygoing driving nature, roomy cargo hold, and impressive fuel economy from its available hybrid powertrain.
Midsize SUVs: Toyota 4Runner and Ford Bronco
The Toyota 4Runner has a loyal following among those seeking an SUV with a rugged design and genuine off-road capability. Based on the Tacoma pickup, the midsize 4Runner still waves the flag for the traditional SUV fans who want real off-road performance. After three years, the 4Runner retains 83% of its value on average, the best of all SUVs mentioned in our article.
If you want a vehicle with an even more adventurous spirit but still maintains its value, check out the Ford Bronco. It has a retro-fueled design, incredible go-anywhere capability, and a seemingly endless options sheet.
Midsize three-row SUVs: Toyota Highlander Hybrid and Honda Pilot
The Toyota Highlander has been a popular three-row SUV for more than two decades. The current version continues to provide a comfortable driving experience and excellent fuel economy from the Highlander Hybrid version. The Highlander’s third-row seat is pretty small, but you’re not going to complain about the Highlander Hybrid’s residual value of 77% after three years.
Coming in second is the Honda Pilot. It also has an enviable reputation for providing ample space and cargo room for growing families. Its third-row seat is bigger than the Highlander’s, but Honda doesn’t currently offer a hybrid version of the Pilot.
Large three-row SUVs: Toyota Sequoia and Chevrolet Tahoe
The Toyota Sequoia is bound to appeal to SUV shoppers who need maximum room and crave strong performance. Its hybrid engine packs a punch and delivers plenty of passing power — even if fuel economy is about on par with most other large non-hybrid rivals. A residual value of 80% after three years adds reassurance that this large SUV won’t burn a giant hole in your wallet when you drive off the dealer lot.
Chevrolet’s Tahoe comes in second for large three-row SUVs that best maintain their value after three years. Thanks to its lineup of two stout V8 engines and a turbocharged diesel-powered six-cylinder, the Tahoe is ideal if you’re planning on towing a heavy trailer. The Tahoe also comes with Chevy’s latest technology features.
An SUV of any shape or size is a major investment. Knowing the vehicle that’s caught your eye won’t plummet in value provides added peace of mind.
This story was provided to The Associated Press by the automotive website Edmunds.
Nick Kurczewski is a contributor at Edmunds.
