For most of 2021, the shortage of semiconductor chips has wreaked havoc on the global automotive industry. And although market experts sounded the alarm bells well in advance, the crisis is not precisely a short-term problem with a short-term solution. Although some automakers shattered sales records amid the chip shortage, others fell short of production targets and caused a dip in new products and inventory supply.
The repercussions of the crisis have seen dealer lots get emptier and sticker-shocks for enthusiasts looking to purchase new vehicles. But since people are determined to make up for the lost time during the pandemic, the increased automotive demand has benefitted the used car market. However, the ripple effect also caused a shift in truck resale values as people continue to hold on to what they have for the time being.
The unprecedented fluctuations mean it's the best time for anyone looking to dispose of their truck, and a slightly unfavorable period for those in the market for a used car or truck. Nonetheless, whether buying them used or fresh off the dealership, the trucks in this list are excellent long-term investments since they boast desirably low depreciation rates. Currently, these truck models boast the best resale value in the market.
10 Nissan Frontier
After a complete redesign for the 2022 model year, the Nissan Frontier has become more competitive in the compact pickup truck class. In addition, the 310hp 3.8-liter V-6 and nine-speed automatic carried over from 2021 can comfortably sustain the increased 150lb payload capacity.
Although there are plenty more reasons to admire the Nissan Frontier, the improved reliability rating and 43.5% depreciation are among its standout qualities. Based on the previous Frontier model and Nissan's brand history, the updated Frontier has no significant weaknesses, and age-related flaws are non-existent, allowing it to command a strong resale value.
9 GMC Canyon
The GMC Canyon has always set itself apart by offering a premium experience that doesn't seem to compromise on capability. The 2022 Canyon receives praise for its advanced infotainment and connectivity, diverse engine lineup, stout towing capacity, desirable trim levels, and attractive performance packages.
The Canyon is a highly-rated workhorse with a more than average predicted reliability rating, despite the dated interior and noticeable lack of some modern driver assistance features. Furthermore, the 41.2% depreciation rate sees the GMC Canyon hold its value well over many years.
8 Honda Ridgeline
Considering the Ridgeline is still the only Honda with a cargo bed, the truck has dominated on and off the road with an AWD system and a capable 280hp 3.5-liter V-6. The Honda Ridgeline's minivan-based underpinnings offer car-like handling, tow more than 5,000lbs, provide competitive payload rating, and deliver excellent fuel efficiency.
The Ridgeline retains Honda's standard of quality, reliability, and performance rather well, crucial elements that have seen the truck hold a high resale value for years. Overall, the Ridgeline is one of Honda's most reliable models, boasting a 40% depreciation rate over five years.
7 Ram 1500
The 2022 Ram 1500 boasts a functional, durable, and stylish design with exciting features such as eye-catching appearance packages, the class-executive RamBox cargo management system, and a multifunctional tailgate. In addition to the luxurious leather-trimmed interior, the new Ram is available in eight trims with five legendary engine options that optimize hauling, towing, fuel efficiency, and performance requirements.
Admittedly, Ram 1500s have experienced a 42.7% depreciation on average, a slightly lower percentage than other trucks in its class. However, according to a recent survey conducted by iSeeCars.com, the Ram 1500 ranked 3rd among the used cars with the most significant price increases. Although the fluctuations remain unpredictable, the Ram 1500's resale value has appreciated significantly in 2021.
6 GMC Sierra 1500
The 2022 Sierra 1500's innovative features and bold presence highlights GMC's peak in design and performance. The updated Sierra 1500 also boasts the industry's first carbon-fiber composite bed, the largest cargo bed volume than any other competitor, and the world's first six-function multi-pro tailgate.
On average, the GMC Sierra 1500 retains 40% of its original value after five years of ownership. Despite traditionally keeping its value well above the industry average for all trucks, the Sierra 1500, just like the Ram 1500, has been noted as an appreciating asset with the recently recorded used car price surges. However, it remains to be seen how long the Sierra 1500 can sustain the newfound resale value, with new truck inventories set to improve.
5 Jeep Gladiator
The Jeep Gladiator is a surprising feature in this list, considering the truck has only been around for two years. The Gladiator might not be the pragmatic choice for some truck enthusiasts, but few compact trucks match its cool factor, heritage, and emotional appeal.
Furthermore, the Gladiator is the only open-roof pickup truck in the market, and it competes favorably in its class with legendary off-road capabilities and impressive pickup truck utility. The Gladiator features in the top 10 for the second consecutive year, boasting a respectable 40% depreciation rate after five years due to its positive reception and demand.
4 Ford F-150
The Ford F-150 has been America's favorite truck for almost 40 years now, but it doesn't top the list for best resale value. Despite its ability to hold value long-term, the Ford F-150's resale value has traditionally taken a slight hit because its high volume on U.S. roads means there's more of them in the used car market.
However, that doesn't imply that the F-150's 39% depreciation rate over five years is not an outstanding value for money. But with Ford announcing overall sales down 4% from a year ago, used Ford F-150s now enjoy better resale values than they usually would.
3 Chevrolet Silverado 1500
Chevrolet made a round of updates for the 2021 Silverado 1500 to match Ram and Ford's charms and performance capabilities. The new highlights include an adaptive suspension, a new configurable tailgate, upgraded infotainment, and updated trailer-towing technology. Nonetheless, the interior and ride quality still falls short of what other top full-size pickup trucks deliver.
But for what the Chevrolet Silverado 1500 lacks in cabin quality, it makes up for with an enticing below-average price tag and a fantastic resale value to match. After five years, the Silverado's 38% depreciation rate runs ahead of the Ford F-150, making it one of the best trucks on the road for holding value, especially in the long term.
2 Toyota Tundra
The full-size Toyota Tundra is one of the oldest trucks in its class, but the upcoming 2022 model is poised to make waves with extensive upgrades all-around. The current generation Tundra, however, is no pushover. The 2021 model boasts a punchy 381hp 5.7-liter V-8, a wide selection of 11 trim levels, a spacious interior, and excellent off-road capability.
Although the Toyota Tundra lags behind its competition in interior quality, comfort, towing capacity, hauling capacity, and fuel efficiency, it still posts a better resale value than most of them. The Tundra ranks high in durability and reliability scores, and its 36% depreciation rate after five years makes its long-term resale value tough to beat.
1 Toyota Tacoma
It's not surprising to find the Toyota Tacoma at the top of the resale value pyramid, considering the truck has been one of the most consistent features in the top 10 for several years. The Toyota Tacoma's desirable blend of durability, affordability, and mod-friendliness allows it to compete against all trucks in the industry, not to mention resale favorites such as the Jeep Wrangler.
A popular choice for overlanding, the Toyota Tacoma has a wildly loyal fanbase that benefits from its exceptional 29% depreciation after five years. And with Toyota announcing it would cut its November production targets at home and abroad by almost 15%, Toyota Tacomas holds the potential to do even better in the used car market.