There’s no surefire way to know how fast your new car will succumb to depreciation. After all, you can rapidly accelerate the rate at which it loses value by putting on miles too fast, going too long between oil changes or crashing it into a tree. However, provided there aren’t any major unanticipated depreciation events, there are ways to predict how fast a car will lose its value based on its make and model.
GOBankingRates conducted a study to show just how fast you should expect your new car’s value to deteriorate using Edmunds.com’s True Cost to Own calculator. The study uses the following assumptions:
- You will drive 15,000 miles per year
- You are using traditional financing rather than a lease
- You have an above-average credit rating
- You make a 10% down payment at purchase
- Your loan term is five years
With those assumptions in place, GOBankingRates looked at the cost breakdown of each car for estimates across various spending categories — such as insurance, fuel and maintenance costs — as well as depreciation over the first five years. This gives you a better idea of how much it will actually cost to own and drive that car. It’s always important to remember that your monthly payment is just one of many costs you will continuously encounter over your car’s life. So, see how much these 30 new models are expected to depreciate over time.
Last updated: May 15, 2020
2020 Jeep Wrangler
- Total cash price: $33,862
- Five-year drop in value: 29.16%
- Five-year depreciation total: $9,875
- Five-year totals for:
- Taxes and fees: $3,765
- Financing: $5,293
- Fuel: $14,774
- Insurance: $5,148
- Maintenance: $3,925
- Repairs: $1,565
- True cost to own: $44,345
Learn: The Cost of a Car the Year You Were Born
2020 Toyota 4Runner
- Total cash price: $39,726
- Five-year drop in value: 29.62%
- Five-year depreciation total: $11,766
- Five-year totals for:
- Taxes and fees: $4,427
- Financing: $6,210
- Fuel: $16,407
- Insurance: $6,954
- Maintenance: $5,011
- Repairs: $773
- True cost to own: $51,548
2020 Toyota Tacoma
- Total cash price: $29,532
- Five-year drop in value: 33.98%
- Five-year depreciation total: $10,036
- Five-year totals for:
- Taxes and fees: $3,502
- Financing: $4,616
- Fuel: $14,063
- Insurance: $6,098
- Maintenance: $5,377
- Repairs: $773
- True cost to own: $44,465
2020 Chevrolet Tahoe
- Total cash price: $47,654
- Five-year drop in value: 36.75%
- Five-year depreciation total: $17,512
- Five-year totals for:
- Taxes and fees: $5,647
- Financing: $7,449
- Fuel: $16,407
- Insurance: $5,846
- Maintenance: $5,496
- Repairs: $966
- True cost to own: $59,323
2020 Honda CR-V
- Total cash price: $26,819
- Five-year drop in value: 37.92%
- Five-year depreciation total: $10,170
- Five-year totals for:
- Taxes and fees: $3,049
- Financing: $4,192
- Fuel: $9,849
- Insurance: $5,678
- Maintenance: $4,683
- Repairs: $917
- True cost to own: $38,538
2020 Toyota RAV4
- Total cash price: $28,457
- Five-year drop in value: 38.09%
- Five-year depreciation total: $10,838
- Five-year totals for:
- Taxes and fees: $3,197
- Financing: $4,448
- Fuel: $9,849
- Insurance: $6,698
- Maintenance: $4,982
- Repairs: $773
- True cost to own: $40,785
2020 Subaru Crosstrek
- Total cash price: $24,164
- Five-year drop in value: 38.55%
- Five-year depreciation total: $9,316
- Five-year totals for:
- Taxes and fees: $2,780
- Financing: $3,777
- Fuel: $11,818
- Insurance: $6,504
- Maintenance: $5,750
- Repairs: $945
- True cost to own: $40,890
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2020 Toyota Highlander
- Total cash price: $40,317
- Five-year drop in value: 39.13%
- Five-year depreciation total: $15,775
- Five-year totals for:
- Taxes and fees: $4,349
- Financing: $6,302
- Fuel: $12,311
- Insurance: $6,371
- Maintenance: $5,350
- Repairs: $773
- True cost to own: $51,231
2020 Dodge Challenger
- Total cash price: $30,625
- Five-year drop in value: 39.98%
- Five-year depreciation total: $12,244
- Five-year totals for:
- Taxes and fees: $3,680
- Financing: $4,787
- Fuel: $12,842
- Insurance: $8,735
- Maintenance: $4,221
- Repairs: $966
- True cost to own: $47,475
2020 Subaru Forester
- Total cash price: $26,982
- Five-year drop in value: 40.35%
- Five-year depreciation total: $10,888
- Five-year totals for:
- Taxes and fees: $3,057
- Financing: $4,218
- Fuel: $10,184
- Insurance: $6,457
- Maintenance: $5,244
- Repairs: $945
- True cost to own: $40,993
2020 Ford F-150
- Total cash price: $37,080
- Five-year drop in value: 41.50%
- Five-year depreciation total: $15,389
- Five-year totals for:
- Taxes and fees: $4,249
- Financing: $5,796
- Fuel: $14,774
- Insurance: $7,715
- Maintenance: $5,436
- Repairs: $1,043
- True cost to own: $54,402
2020 Ford Mustang
- Total cash price: $32,018
- Five-year drop in value: 41.73%
- Five-year depreciation total: $13,362
- Five-year totals for:
- Taxes and fees: $3,578
- Financing: $5,005
- Fuel: $13,273
- Insurance: $6,983
- Maintenance: $4,700
- Repairs: $1,022
- True cost to own: $47,923
2020 Toyota RAV-4 Hybrid
- Total cash price: $43,216
- Five-year drop in value: 42.10%
- Five-year depreciation total: $18,194
- Five-year totals for:
- Taxes and fees: $4,670
- Financing: $6,755
- Fuel: $7,386
- Insurance: $7,234
- Maintenance: $5,734
- Repairs: $887
- True cost to own: $50,860
2020 Dodge Charger
- Total cash price: $31,778
- Five-year drop in value: 42.43%
- Five-year depreciation total: $13,484
- Five-year totals for:
- Taxes and fees: $3,796
- Financing: $4,968
- Fuel: $12,842
- Insurance: $8,601
- Maintenance: $4,873
- Repairs: $966
- True cost to own: $49,530
2020 Honda Accord
- Total cash price: $24,833
- Five-year drop in value: 42.77%
- Five-year depreciation total: $10,620
- Five-year totals for:
- Taxes and fees: $2,829
- Financing: $3,882
- Fuel: $8,963
- Insurance: $6,237
- Maintenance: $3,987
- Repairs: $917
- True cost to own: $37,435
2020 Honda Civic
- Total cash price: $21,161
- Five-year drop in value: 43.17%
- Five-year depreciation total: $9,135
- Five-year totals for:
- Taxes and fees: $2,457
- Financing: $3,308
- Fuel: $10,184
- Insurance: $6,922
- Maintenance: $3,755
- Repairs: $773
- True cost to own: $36,534
2020 Toyota Camry
- Total cash price: $31,082
- Five-year drop in value: 44.45%
- Five-year depreciation total: $13,817
- Five-year totals for:
- Taxes and fees: $3,519
- Financing: $4,859
- Fuel: $9,534
- Insurance: $7,921
- Maintenance: $3,905
- Repairs: $773
- True cost to own: $44,328
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2020 Honda Pilot
- Total cash price: $32,355
- Five-year drop in value: 44.61%
- Five-year depreciation total: $14,432
- Five-year totals for:
- Taxes and fees: $3,567
- Financing: $5,058
- Fuel: $13,433
- Insurance: $5,963
- Maintenance: $5,718
- Repairs: $773
- True cost to own: $48,944
2020 Nissan Rogue
- Total cash price: $25,949
- Five-year drop in value: 44.71%
- Five-year depreciation total: $11,603
- Five-year totals for:
- Taxes and fees: $3,125
- Financing: $4,056
- Fuel: $10,184
- Insurance: $6,777
- Maintenance: $6,736
- Repairs: $773
- True cost to own: $43,254
2020 Lexus LX 570
- Total cash price: $98,964
- Five-year drop in value: 44.79%
- Five-year depreciation total: $44,324
- Five-year totals for:
- Taxes and fees: $10,717
- Financing: $15,470
- Fuel: $22,745
- Insurance: $9,631
- Maintenance: $7,361
- Repairs: $1,243
- True cost to own: $111,491
2020 Chevrolet Equinox
- Total cash price: $25,559
- Five-year drop in value: 44.93%
- Five-year depreciation total: $11,484
- Five-year totals for:
- Taxes and fees: $2,825
- Financing: $3,995
- Fuel: $10,558
- Insurance: $7,207
- Maintenance: $5,919
- Repairs: $1,071
- True cost to own: $43,059
2020 Subaru Outback
- Total cash price: $28,307
- Five-year drop in value: 44.94%
- Five-year depreciation total: $12,720
- Five-year totals for:
- Taxes and fees: $3,167
- Financing: $4,425
- Fuel: $10,184
- Insurance: $6,354
- Maintenance: $5,421
- Repairs: $945
- True cost to own: $43,216
2020 Acura RDX
- Total cash price: $37,941
- Five-year drop in value: 46.35%
- Five-year depreciation total: $17,585
- Five-year totals for:
- Taxes and fees: $4,114
- Financing: $5,931
- Fuel: $13,273
- Insurance: $6,187
- Maintenance: $5,687
- Repairs: $1,205
- Taxes and fees: $4,114
- True cost to own: $53,982
Check Out: 16 Unexpected Car Costs and How To Prepare For Them Now
2020 Mazda CX-5
- Total cash price: $27,632
- Five-year drop in value: 47.35%
- Five-year depreciation total: $13,085
- Five-year totals for:
- Taxes and fees: $3,178
- Financing: $4,319
- Fuel: $10,558
- Insurance: $5,948
- Maintenance: $5,368
- Repairs: $858
- Taxes and fees: $3,178
- True cost to own: $43,314
2020 Jeep Cherokee
- Total cash price: $27,755
- Five-year drop in value: 47.65%
- Five-year depreciation total: $13,224
- Five-year totals for:
- Taxes and fees: $3,251
- Financing: $4,339
- Fuel: $11,818
- Insurance: $6,419
- Maintenance: $3,479
- Repairs: $1,488
- Taxes and fees: $3,251
- True cost to own: $44,018
2020 Lexus RX 350
- Total cash price: $49,276
- Five-year drop in value: 48.46%
- Five-year depreciation total: $23,878
- Five-year totals for:
- Taxes and fees: $5,456
- Financing: $7,703
- Fuel: $12,842
- Insurance: $8,086
- Maintenance: $7,195
- Repairs: $1,087
- Taxes and fees: $5,456
- True cost to own: $66,247
2020 Ford Explorer
- Total cash price: $42,556
- Five-year drop in value: 48.64%
- Five-year depreciation total: $20,700
- Five-year totals for:
- Taxes and fees: $4,661
- Financing: $6,652
- Fuel: $12,311
- Insurance: $7,116
- Maintenance: $4,766
- Repairs: $1,071
- Taxes and fees: $4,661
- True cost to own: $57,277
2020 Chevrolet Traverse
- Total cash price: $32,911
- Five-year drop in value: 51.29%
- Five-year depreciation total: $16,879
- Five-year totals for:
- Taxes and fees: $3,863
- Financing: $5,145
- Fuel: $14,063
- Insurance: $5,582
- Maintenance: $6,293
- Repairs: $966
- Taxes and fees: $3,863
- True cost to own: $52,791
2020 Nissan Maxima
- Total cash price: $33,803
- Five-year drop in value: 52.94%
- Five-year depreciation total: $17,894
- Five-year totals for:
- Taxes and fees: $4,009
- Financing: $5,284
- Fuel: $13,273
- Insurance: $9,491
- Maintenance: $4,772
- Repairs: $773
- Taxes and fees: $4,009
- True cost to own: $55,496
2020 Jeep Grand Cherokee
- Total cash price: $34,617
- Five-year drop in value: 54.11%
- Five-year depreciation total: $18,731
- Five-year totals for:
- Taxes and fees: $3,735
- Financing: $5,411
- Fuel: $14,063
- Insurance: $6,317
- Maintenance: $5,227
- Repairs: $1,488
- Taxes and fees: $3,735
- True cost to own: $54,972
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Methodology: GOBankingRates analyzed the top 30 most researched vehicles (that had available data) according to Edmunds.com during March 2020 to discover how quickly these cars will depreciate over five years. Using the Edmunds.com’s True Cost to Own pricing calculator, GOBankingRates analyzed each vehicle and found the five-year totals for (1) depreciation, (2) taxes and fees, (3) financing, (4) fuel costs, (5) insurance, (6) maintenance and (7) repairs. GOBankingRates then calculated the (8) five-year drop in value (%) for each vehicle. Depreciation costs were shown for each year while the remaining factors were only given five-year totals. GOBankingRates only considered 2020 models and kept the location for the calculations constant, using the ZIP code 90245 (El Segundo, California). The Edmunds Inc. True Cost to Own calculations use the following assumptions:
- You will drive 15,000 miles per year
- You are financing the vehicle using traditional financing, not lease financing
- You have an above-average credit rating for the purpose of determining your finance rate
- You are making a 10% down payment on the vehicle at purchase
- Your loan term is five years, or 60 months
The seven aforementioned totals were combined to give each car a (9) “true cost to own” value. Depreciation for each vehicle was calculated and based off each model’s (10) total cash price, which is the vehicle’s True Market Value® (TMV®) price plus any typically equipped options, destination charge, base tax, fees assessed by your state and, if applicable, gas guzzler tax.
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