5 2024 Model SUVs With the Best Trade-In Values
Car companies roll out a new line of models each year, making last year's offerings a thing of the past. This includes sports utility vehicles (SUVs) designed to endure the roughest rides and most formidable terrains. And though they can be hard on the budget, some of them retain value and can be traded in for an upgrade to reduce the purchase price of your next vehicle.
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If you bought one of these 2024 model SUVs and want to upgrade this year, you should get a stellar trade-in price in 2025.
Trade-In Range: $25,000 to $40,000
Alex Black, chief marketing officer at EpicVIN, said, 'I think Hyundai has upgraded its position in terms of technology and looks.'
The Palisade has a 52.6% 5-year resale value and, in Black's words, 'competes with high-end brands but at a reduced price tag.'
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Trade-In Range: $29,000 to 30,000
According to Melanie Musson, an auto industry expert with CarInsurance.org, the Wrangler isn't as reliable and durable as other SUVs that keep their value, but it has a different characteristic: popularity.
'Americans love Wranglers,' Musson said. 'They're tough, built for off-roading and, whether or not they're used off-road, knowing that they can handle tough terrain makes them attractive. Over five years, a Wrangler will lose about 33% of its original value, making it one of the best cars to trade in.'
Trade-In Range: $29,000 to 30,000
In Musson's professional opinion, the CR-V is dependable, requires minimal maintenance and lasts years.
'Because a used CR-V can provide just as many years of reliable service as some new cars, the trade-in value is high,' said Musson, noting that it depreciates about 33% by the time it's five years old.
'A 2024 CR-V will typically trade for about $30,000. Higher trim levels will trade higher, and lower-end trims will trade lower,' she explained.
Trade-In Range: $37,000 to $40,000
'The 4Runner is one of the most reliable vehicles on the road,' said Musson, adding that it's also one of the longest-lasting.
'When you combine those two factors, you get a vehicle that retains its value,' Musson continued. 'Over five years, 4Runners lose less than 40% of their value. In two years, you can expect to be able to trade in a 4Runner for about 80% of what it costs new.'
Musson added that the 'trade-in value of a 2024 4Runner will usually be just a few thousand dollars less than it was new. A base model will often be valued at close to $37,000. Most models have a higher-level trim package and will go for over $40,000.'
Trade-In Range: $30,000 to $45,000
According to Black, the 2024 Ford Bronco has a 66.7% 5-year resale value, depending on trim and mileage.
'The Bronco is in demand, with its off-road capabilities and loyal fan base driving demand,' he said. 'Ford keeps its rough and ageless looks.'
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This article originally appeared on GOBankingRates.com: 5 2024 Model SUVs With the Best Trade-In Values
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