Some vehicles depreciate faster than others. Vehicles with a high depreciation rate often have low resale value. Therefore, if you buy a vehicle with the intention of selling it after a short period of ownership, it is best to choose a vehicle with a low depreciation rate. An SUV model has the worst five-year depreciation rate of all.
This American SUV loses thousands of value in five years
CarEdge.com ranked the makes and vehicles with the worst resale value from worst to best. He found that Buick vehicles had the worst resale value after five years.
Regarding the vehicles, CarEdge.com claims the GMC Yukon XL has the worst depreciation/resale value rate of all 101 vehicles it tested. According to the automotive publication, the Yukon XL only retains 68.38% of its value after five years. So, it loses 31.62% of its value in five years.
The 2023 American full-size SUV starts at $60,100. If CarEdge’s findings are accurate, the Yukon XL will depreciate by approximately $19,232. Its resale value will be only $40,868. The large SUV will depreciate even faster after five years.
So who cares how quickly a vehicle depreciates? Depreciation is important because a GMC Yukon XL driver could lose a lot of money reselling the vehicle. So if he doesn’t plan on owning the full-size SUV for more than five years, he doesn’t expect to recoup a large percentage of what he spent on the resale market. A high depreciation rate does not necessarily mean that a vehicle is bad. It just suggests that it’s better to have it for a longer period of time rather than quickly resell it.
Is the 2023 GMC Yukon XL a good SUV?
The 2023 GMC Yukon XL is a full-size that competes with the best models in its segment. Compete with Chevrolet Tahoe, Chevrolet Suburban and Jeep Wagoneer.
It uses a 5.3-liter V8 engine to make 355 horsepower and 383 pound-feet of torque. The large SUV gets 21 mpg in the city and 27 mpg on the highway.
The Yukon XL features a wraparound steering wheel, wireless Apple CarPlay and Android Auto, and keyless entry. It also comes standard with remote start, multiple power outlets, and power heated outside mirrors. The 2023 GMC Yukon XL is a great family truck praised for its roomy cabin and smooth ride quality. The large SUV may depreciate faster than many of its rivals, but it’s worth acquiring for drivers interested in long-term ownership.
What is the best full-size SUV?
Car and Driver claims the Chevrolet Tahoe is the best full-size SUV. The Yukon/Yukon XL and Chevrolet Suburban are below the Tahoe. Clearly, General Motors produces some of the best large SUVs in the game.
The Ford Expedition Max is one of the few full-size SUV models that can compete with GM’s full-size SUVs. The Expedition Max has a stylish interior and great powertrain options.
Let us know your pick for the best full-size SUV in the comments section below.