Looking to buy a new car that holds its value? In Tampa Bay, think big. According to an analysis by iSeeCars, the bay area vehicle with the lowest depreciation over five years is a Jeep Wrangler Unlimited. They average just 26 percent depreciation over that period. The highest-depreciating car is a Chevrolet Volt, which loses 71.8 percent of its value over five years.
"For consumers who buy new vehicles and sell them around the five-year mark, choosing a model that retains the most value is a smart economic decision," Phong Ly, iSeeCars CEO, said in a release.
According to iSeeCars, trucks and SUVs held their value the best. At the other end of the spectrum were electric vehicles and luxury sedans, which saw more significant depreciation. The Jeep Wrangler was ranked No. 2 for lowest depreciation in Tampa Bay (27.3 percent) followed by the Toyota Tacoma (29.5 percent).
Contact Malena Carollo at [email protected] or (727) 892-2249. Follow @malenacarollo.