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Used vehicles fell 12.1 percent in value during 2014, which represented a slight improvement from 2013, which saw a 12.8 percent depreciation, according to Black Book.
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The full-size pickup fleet segment depreciated by only 4.9 percent over the past 12 months; however, this rate is unlikely to continue into 2015.
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The used full-size van market has remained strong throughout 2014, but it is expected to decline in 2015. Part of the reason for the strength of the used van segment is the discontinuation of traditional U.S.-style vans by OEMs as the new European-style vans are released.
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The average price of a used vehicle fell 1.9 percent in November from the prior month led by steeper-than-expected declines by full-size pickups, according to Black Book.
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The vehicles should finish the year as the only category that will increase in residual value, while the broader market should depreciate more than 12 percent.
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Domestic cars lost the most in value at 3.2 percent among vehicles from the 2009-2013 model-years, while domestic trucks lost 2.1 percent. Compact pickups and full-size passenger vans and full-size cargo vans showed the most strength.
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Understanding depreciation, how vehicles are valued and when to remarket can improve your total cost of ownership.
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Used vehicles sold at auctions logged their highest depreciation this year in September, as 2009-2013 car and truck models fell 1.7 percent in value.
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Overall depreciation for used vehicles from the past five model years improved slightly from July as the average value fell 1.3 percent in the month compared to 1.5 percent in July, according to Black Book's monthly report.
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Used-vehicle depreciation slipped to 1.5 percent in July, as mid-size sedans led a sharper decline in value after a strong spring, reports Black Book.
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