2024 Best Resale Values for Trucks & SUVs

Kelley Blue Book’s annual Best Resale Value Awards recognizes the 10 individual vehicles projected to retain the highest percentage of their original manufacturer’s suggested retail price (MSRP). Curious what won last year? Check it out!  

According to KBB, these 10 vehicle models retain their value better than 95% of all other models. While the average new vehicle will only be worth about 42.4% of its original sticker price after 60 months, these 10 models will return an average of about 59% to their owners’ pockets.

For a $35,000 vehicle, that works out to a meaningful difference of nearly $6,000 over a five-year buy-own-sell ownership cycle. 

Recouping more money when you sell a vehicle can add up when you have a small or large vehicle fleet. Imagine having an extra $6,000 per vehicle resold to put toward your next fleet purchase.

Best Resale Value Top 10 Vehicles for 2024 

So, which pickup trucks and SUVs have the highest resale value? Here is KBB’s list of the 10 best overall resale values of 2024.

Digging deeper into the list, check out the top trucks that made the list overall: 

• 2024 Rivian R1S: Resale Value 47%
• 2024 Ford F-150 Lightning: Resale Value 43.1%
• 2024 Ford Maverick: Resale Value 54%
• 2024 Toyota Tacoma: Resale Value 62.6%
• 2024 Toyota Tundra: Resale Value 60.4%

Toyota received Overall Best Resale Value award for the seventh time in eight years with five total category wins. 

Why Does Resale Value Matter to Commercial Fleets? 

Think about your fleet of work trucks or vans. You've got these workhorses on the road day in and day out, hauling, towing, delivering—you name it. They're the backbone of your operation. What happens when it's time to bring in newer trucks or vans? Because, let's face it, no truck runs forever, and technology keeps marching on.

Here's where resale value comes into play and why it's a big deal for fleet managers:

• Money in the Bank: First, when you decide to sell or trade-in your older vehicles, the cash you get back from that sale is crucial. A higher resale value means more money in your business's bank account. This money can be a game-changer because it helps you invest in new vehicles without dipping too much into your operation's funds.
• Budgeting Like a Boss: When juggling the finances of running a fleet, predicting costs is your best friend. Knowing your vehicles hold their value well gives you a clearer picture of future expenses and revenues. It's like having a crystal ball for your budget, helping you plan better and avoid nasty surprises.
• Cost of Ownership: Let's talk about the total cost of owning these workhorses. It ain't just about the price tag when you buy them; it's also about how much you can sell them for down the line. A vehicle that retains its value well is cheaper to own over its lifecycle. Less money lost in depreciation equals a happier bottom line.
• Flexibility: In a perfect world, you'd keep a vehicle for its entire useful life and then some. But we both know the world's far from perfect. You may need to adapt to new technologies, like electric vehicles, or changes in what your fleet needs to do. High resale value allows you to make those changes without taking a financial bath.

So, there you have it. Resale value isn't just some fancy term that accountants love to use. It's about keeping your operation lean and mean and ready for whatever the road throws at you.