Every driver is aware that vehicles depreciate over time. In fact, a vehicle loses quite a bit of its value the moment you drive it off the lot, but of course, not every vehicle depreciates as fast as others. So, what makes one vehicle better than the other in terms of value over time? Aren’t they all pretty much the same?
The answer is complicated, especially when you consider the number of models (and automakers) currently performing on the auto market. Some brands inherently carry higher resale values than most—Toyota and Subaru, to name two—but what about some American favorites? How do these cars stand up to depreciation? Passing by your local used Chevy dealer, you may be surprised to see that the bowtie brand harbors quite a few of the models known to best hold their value over time…
The Chevy Corvette
Making its debut as the first of its kind in 1953, the Corvette was Chevrolet’s answer to declining sales—and to say that this solution worked is a massive understatement. Perhaps the biggest reason for the Corvette’s success over the decades is that it’s a sports car built for the average consumer; there’s no need to be a millionaire to own one of these sleek and thrilling models. Many new cars lose around 40% of their value within the first five years; however, the Corvette typically only experiences an 18% depreciation in this same period.
Not only is the Corvette a unique vehicle, stopping passersby in their tracks with its charismatic stare and aerodynamic stance, but it also boasts an unbelievable performance with exhilarating acceleration and handling that is out of this world. It’s safe to say the Corvette has been a critical influencer in Chevy’s inventory; buying these vehicles used is common nowadays, as drivers are able to finally own an iconic sports car for an affordable price. So, if you wonder why you see so many of them on the streets, now you know.
The Chevy Bolt EV
Not every electric vehicle has been embraced by the masses, as many drivers are quite reluctant to jump on the EV bandwagon, but the Chevy Bolt EV is changing all of this. Launched for the 2017 model year, the Bolt EV was Chevy’s answer to an affordable electric vehicle that showcased an impressive range.
The Bolt EV was able to accomplish this by showcasing a maximum range above 200 miles, as well as many perks along the way. Not only is this EV incredibly efficient, but it’s also spacious inside and brings a level of innovation drivers are thirsting for in their everyday vehicles. With plenty of ways to charge it, including DC Fast Charging, it’s easy for drivers to be on their way with this economical electric model.
Its depreciation rate is also impressive, only losing about 27% of its initial value after five years, compared to 44% in the Nissan LEAF. It just goes to show that buyers look for vehicles that bring the goods but don’t break the bank: there’s no reason to overspend on an EV, and Chevy makes this possible with the Bolt.
The Chevy Suburban
As the oldest nameplate in this brand’s history, the full-size Suburban SUV—which debuted in 1935—is still holding strong; and that’s not just in Chevy’s inventory but in the industry as a whole. It’s no secret that drivers love this large and accommodating SUV, especially families who require enough room for a half-dozen passengers to relax and spread out.
This is a great model to buy used because drivers can focus on the features they want, whether it’s entertainment options for the kids or hands-free driving capabilities, all for a price that fits into their budget. With extraordinary cargo space, a durable build, and a powerful engine, the Suburban delivers the ultimate ride for modern travelers everywhere. Kelley Blue Book has awarded the Suburban their ‘Top Resale Value’ honor numerous times over the years—and with an average depreciation rate of approximately 44% over a five-year period, it’s regarded as one of Chevy’s best used-market investments.
The Chevy Colorado
Another winner in vehicle value is the midsize Colorado, the perfect pickup for all kinds of drivers. It’s clear the Colorado is one of Chevy’s most popular trucks, especially when you consider its overall versatility; it’s a skilled adventure mate, a dedicated hard worker, and even a comfortable commuter, which allows it to appeal to drivers of all walks of life.
Making its way onto the streets in 2004, the Colorado quickly became the ideal alternative to the full-size Silverado. It proved perfect for drivers who did not need a large truck but wanted something they could easily drive around town and maneuver through traffic. It showcases an 18% depreciation rate after five years, which makes it one of the best trucks to trust for drivers looking to have confidence in their used vehicle.
The Chevy Camaro
The Camaro can be found everywhere—not just regarded as a sports car, but utilized as an everyday traveler and confident commuter. It’s sleek, stylish, and full of energy. For drivers who desire a larger-than-life car, the Camaro is a great fit.
It made its grand entrance onto the streets for the 1967 model year, and it was quickly embraced by the racing world. In fact, the 1967 Camaro was used as the pace car for the Indianapolis 500, and it hasn’t looked back since. It became a Trans-Am race car, a Pro Stock car, and it transformed over the years into an affordable option for today’s adrenaline-induced drivers. It’s so popular, in fact, that its depreciation rate is only 17% after five years, proving that it’s still a tried-and-true favorite for drivers across the nation.
The Chevy Silverado
As one of the key players in Chevy’s inventory, the full-size Silverado is a top pick for drivers everywhere. Whether it’s taking on tough work on the job site or rough terrain in the backcountry, this pickup is a true superstar. It also has quite a history, originally debuting as a trim level in the mid-70s and moving on to become a standalone model in 1999.
There are so many uses for this truck that it’s no surprise drivers are drawn to it. It’s a full-size beast that puts up remarkable capability numbers, from horsepower and torque to towing and hauling. Depreciating only by about 39% after five years, it’s evident that this is one of the best-performing trucks ever designed, and there’s no slowing down for this absolute legend.
The Longevity of a Chevy
It’s a common misconception that the “high-quality, high-value” honor is reserved only for foreign brands, like Honda and Nissan. With an impressive number of models earning top nods in the industry, Chevy is one of the best brands to trust when buying used. The next time you stop at a red light, take a look around, count the Chevy models next to you, and note all the different makes and models.
From the Corvette to the Colorado, Chevy makes vehicles that are built to last—and without the hefty sticker prices. So when it comes to value, you can expect to always be impressed by this all-American automaker.