These Cars Depreciated Faster Than Someone Drops a Hot Potato
Unfortunately, most cars depreciate in value over time. While some classic models may be worth more in the long run, some unlucky owners will end up losing a small fortune on their vehicle. Let’s take a closer look at 35 cars that dropped in value faster than anyone expected, leaving owners scratching their heads.
Tesla Model S
Although Tesla is undoubtedly an up-and-coming brand, a few of the models haven’t quite lived up to the hype, including the Model S. On average, the car sells for close to $10,000 less than what it was worth upon its initial release. This means that the Model S has a depreciation rate of close to 20%.
Porsche Taycan
Porsche is one of those brands that usually offers world-class reliability and everlasting value. However, the Taycan simply missed the mark, leading to a depreciation value of 15%. Unfortunately, if you invested in this vehicle, chances are you won’t be making any money back.
Ford Explorer Hybrid
Hybrid vehicles seem to be all the rage nowadays. However, not all designs meet the needs and wants of everyday drivers. Take the Ford Explorer Hybrid, for example. On average, it has depreciated by 14% in value, resulting in a $5,000 loss for owners.
BMW 5-Series Hybrid
The BMW 5-Series Hybrid is yet another hybrid vehicle that has failed to meet the expectations of many owners. For this reason, it hasn’t aged well in terms of value. With a 14% depreciation rate, it is now one of the worst-selling cars in the BMW range.
Tesla Model Y
The Tesla Model Y has depreciated 13% in value since its initial release, making it one of the lowest-value Teslas on the secondhand market. To be more specific, owners will generally sell the car for approximately $5,000 less than they originally paid for it.
Maserati Levante
It’s hard to believe that a Maserati can depreciate in value, but the Levante proved us all wrong. It is currently worth about 12% less than it was when first released, equivalent to just under $6,000. Such a sad situation considering how beautiful of a car it is.
Tesla Model 3
After the Model 3 was released, it became evident that Tesla was still in a sort of ‘trial-and-error’ phase. This model fell short in a number of ways, leading to its sudden and drastic depreciation in value.
Hyundai Kona EV
While EVs are generally quite expensive, the Hyundai Kona EV has seen a drastic decrease in value since its release. It’s now worth almost $3,000 less, equivalent to just under 11%.
Kia Niro EV
The Kia Niro EV may have shown plenty of promise initially, but it failed to meet the standards of many drivers. It plummeted 11% after just a few months, leading to an almost $2,500 loss in market value.
Mercedes GLB
The Mercedes GLB is one of the company's most disappointing models, leading to a massive loss in profit for the automotive giant. It has dropped in value by nearly 10% since its initial release, equating to $3,500 per unit.
Volvo S90
Volvo is generally known for its reliable and practical vehicles. However, the S90 failed to impress, leading to a drastic depreciation in market value. The car is now worth almost 10% less than it was originally.
Genesis G70
The Genesis G70 now sells for almost $3,000 less than it did originally, leading to a massive loss in profit for the company.
Chrysler Pacifica
Even though Chrysler has released some groundbreaking vehicles over time, the Pacifica definitely wasn’t their best model. Unsurprisingly, the car has depreciated rather drastically in value because of this, leading to an 8% loss in value.
Jaguar E-Pace
The E-PACE was one of Jaguar’s first attempts at entering the EV market. It didn’t quite impress as they thought it would, however, leading to a $2,000 loss in value within just a few months of its initial release.
Tesla Model X
The Model X was yet another failure for Tesla. It lost close to $5,000 in value after just a few months, showcasing how disappointing the design actually was for drivers. This equates to a loss of just over 7% in profits.
Mercedes-AMG GT
The Mercedes-AMG GT has always been expensive, but it has also depreciated a lot in value since its release. To be more specific, it is now worth a whopping $10,000 less than it was initially, equating to a 12% depreciation rate.
Jeep Gladiator
The Jeep Gladiator is definitely one of the company's most disappointing models, as it simply didn’t meet the same standards as other off-road vehicles. In just a few months, it lost over $4,000 in value, resulting in a total depreciation rate of over 10%.
Corvette Convertible
The Corvette will always be an iconic vehicle, but certain models simply missed the mark. Many of the convertible models didn’t impress, leading to a rapid depreciation in market value. Some of the cars lost up to $7,000 in value, leading to a loss for the automotive giant.
Lincoln Aviator
The Lincoln Aviator has experienced a significant depreciation over time. Over a five-year period, it has lost over 50% in value. Vehicles older than 10 years lose up to 80% in value, making the Aviator a rather poor investment option.
Chrysler Voyager
The Chrysler Voyager has an average 5-year depreciation rate of 65%. While the car originally sold for close to $42,000, they now go for only $15,000.
Jaguar I-Pace
The Jaguar I-Pace is undeniably a stylish and innovative vehicle, but it also has one of the steepest depreciation curves among EVs. With a 5-year depreciation rate of 67%, it’s safe to say that the I-Pace isn’t the best investment option for drivers.
Audi Q8 E-Tron
The Audi Q8 E-tron has one of the steepest depreciation rates amongst electric luxury SUVs. Over a 5-year period, the vehicle loses up to 73% in value. While it originally sold for $74,000, a used vehicle now sells for just over $20,000.
Mercedes EQS
The Mercedes EQS has an extremely high depreciation rate, especially when compared to other luxury electric vehicles. To be more specific, the car has a one-year depreciation rate of close to 50%! This is one of the highest amongst all EVs.
BMW 7 Series
The BMW 7 Series is known for its steep depreciation rate. This luxury sedan has a one-year depreciation rate of 30% and a 5 year rate of almost 70%. After 10 years, the car will be worth almost 80% less than it originally sold for.
Infiniti QX80
The Infiniti QX80 is a luxury SUV that has a pretty drastic depreciation rate. Over 5 years, it will lose 60% of its total value. While it originally sells for between $80,000 and $100,000, models over 5 years old usually sell for just under $30,000.
Maserati Ghibli
The Maserati Ghibli is notorious for its steep depreciation rate, especially when compared to other luxury sedans. After 3 years, it drops 50% in value and another 20% after 5 years. Depending on the condition of the car, owners will typically receive between $30,000 and $50,000 for a Ghibli that is older than 5 years.
Nissan Leaf
While the Nissan Leaf is one of the most affordable EVs on the market, it also loses value pretty quickly. After 5 years, it loses 65% of its value, or approximately $10,000.
Cadillac Escalade ESV
The Cadillac Escalade is a luxury SUV that has a very drastic depreciation rate. While it originally sells for between $110,000 and $135,000, the car will usually only sell for around $35,000 once it reaches 5 years old.
Audi A8L
The Audi A8L is a flagship luxury sedan, but it also has one of the highest depreciation rates of the entire Audi lineup. After 10 years, it loses up to 82% of its value!
Mercedes S-Class
The Mercedes S-Class is another luxury sedan that experiences a rather drastic depreciation over time. After 3 years, it loses 42% of its total value. After 10 years, it will be worth over 80% less than it was originally purchased for.
Land Rover Range Rover
The Land Rover Range Rover is a luxury SUV that has a pretty dismal depreciation rate, especially over the first 5 years of ownership. While you can expect to pay upwards of $195,000 for a new car, it will only be worth $45,000 after five years.
Audi Q7
The Audi Q7 offers an above-average depreciation rate. After 3 years, the luxury SUV will be worth 45% less than it was originally sold for.
Land Rover Discovery
While the Land Rover Discovery may be a great-looking car, it unfortunately has a very drastic depreciation rate. After 10 years, it will lose more than 80% of its original value. It has an original market value of over $65,000, but after five years, it will only sell for $25,000 to $30,000.
Audi A7
The Audi A7 is a luxury sportback, but it suffers from a pretty bad depreciation rate. After 5 years, it loses 60% of its value, selling for just under $30,000.
DeLorean DMC-12
The DeLorean DMC-12 is one of the most iconic cars in the movie industry, having featured in the Back to the Future movies. However, due to its poor design, it lost value quickly after its initial success.
