When buying a new pickup, do you also consider its resale value? Selling a brand-new truck is probably the furthest from your mind. But truck prices, both used and new, continue to soar, placing resale value on the minds of many potential truck owners.
As vehicles become more expensive, their resale value becomes more important to buyers. And some brands hold onto their value better than others.
A truck's brand is just one part of its resale value. Several factors help determine a truck’s future worth: its trim package, features, and maintenance history, among others.
We’ll go in-depth as to why resale value is important, which brands have the best value, and even provide tips for maximizing the resale value of your current truck.
Resale Value is Important, Even if You're Not Planning to Resell
When you buy a new truck, you don't expect to sell it or trade it anytime soon. Still, the resale value is worth noting. Trucks are more than valuable machines; they are an investment. The more they cling to their value, the more of an asset they are later. And if forced to sell or trade your truck sooner than expected, you’ll be glad you paid attention to resale value.
Trucks are also constantly changing. The truck market is witnessing a technological revolution, and in the next decade, your favorite brands will debut trucks with groundbreaking, never-before-seen technology.
When you see these innovations in a pickup’s performance or fuel economy, you might not be as enthusiastic about your 2020 model.
Resale value can also clue you into a truck’s reliability and durability. Consumers pay attention to trucks with higher resale values because they’re often more reliable.
All these reasons make resale value important to every truck buyer, regardless of when they might sell or trade.
Which Full Size Trucks Have the Best Resale Value?
You can discover a truck's potential long-term value using a truck’s past sales results to determine its future value. You cannot predict the future but this is a decent indicator of what resale value to expect from any given vehicle.
Below we highlight the trucks that have a history of higher resale values compared to their competitors:
- Toyota Tundra
- Ram 2500
- GMC Sierra 1500
- Chevrolet Silverado 1500
- Ford F-150 Lightning
Why Some Brands Have Better Resale Value Than Others
Resale value is not a perfect proxy of a truck’s reliability. It can indicate quality, but it’s not fair to say trucks with low resale value are unreliable.
Much more goes into it. For example, trucks from top fleet sellers like Chevy, Ford, and Ram tend to hold on to less value than trucks from Honda, Jeep, and GMC --companies whose models sell less.
Trucks with higher sales are often available in excess, which also causes long-term value to drop. In other words, the rarer the truck is the more likely it will sell for a higher amount.
Resale value is also shaped by consumer preference. Consumers crave luxury features, so a package including those features might hold onto its value better than a base trim model.
How to Maximize Your Truck’s Resale Value
How do you max out a truck's potential value? Choosing the right brand can help, but don't forget the most critical piece -- yourself! The vehicle owner is the number-one factor in determining how well a truck holds onto its value. If you want ways to maximize your investment, there's plenty you can do.
- If you can afford it, consider buying a truck with a luxury package. Not only will you enjoy the features, but these luxury options also hold onto their value better.
- Stick to a vehicle maintenance schedule. Detailed maintenance records are one of the easiest ways to maximize resale value. They prove you’ve given your truck perfect maintenance.
- Protect your truck's body and paint job. Body damage, faded paint, and denting all count against your resale value. Protect your paint with regular wax coatings to keep it shiny and new. 3M makes a film that protects your front end from pitting and road rash. You can also buy grille guards, running boards, and heavy-duty bumpers to prevent body damage. Plus, there’s no substitute for a quality truck bed liner.
- Be careful! Carefully driven vehicles last longer. Be gentle when accelerating or braking. Avoid rough terrain to minimize wear and tear. Conservative drivers spend less on fuel, brake pads, and tires, and defensive driving will save you money long-term.
- Keep your cleaning supplies handy. Even a small spill on your seats can cause long-term damage. It helps to have a package of wet wipes at hand. Clean up any spills, dirt, and bird droppings ASAP.
If you’re considering a bed liner to maximize your truck’s resale value, it’s important to note that not all bed liners offer both dent AND paint protection.
A plastic drop-in liner can prevent dents, but these liners are also prone to scuffing paint. The reverse is true of spray-in liners, which protect your paint but are virtually useless against dents. Only a DualLiner can offer dent and paint protection.
Follow these tips and when it comes time to sell, you’ll get the highest resale value you can. Being an attentive truck owner is always more valuable than choosing the right brand.
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