Jeep or Leaf? Study shows which vehicles hold their value longest in Las Vegas

Local News

LAS VEGAS (KLAS) — Are you driving one of the best — or worst — cars in Las Vegas in terms of holding their value?

Given the rise in car prices due to the microchip shortage, finding a vehicle that retains its value can provide significant savings for consumers.

The latest study by analyzed more than 8 million new and used car sales to identify models with the lowest and highest loss in value after five years.

“We have never seen the used car market behave like this,” said Karl Brauer, executive analyst for ISeeCars.

“We’ve never seen these kind of increases in used car values,” he said.

Brauer said the price of used vehicles has shot up in the past year by about 30%.

As a result, depreciation, which nationally was closer to 50% after five years is now closer to 40% nationwide, and 37% in Las Vegas.

“The idea that they are like stocks now, depending on which one you bought, goes up in the past five years, is very unusual,” Brauer said.

In the Las Vegas market, some cars retain their value and depreciate far less than average. And some depreciate far more.

Take the Jeep Wrangler, for example. It tops the list with the lowest depreciation after five years at 6.2%. Other cars just below that include the Jeep Wrangler Unlimited, Toyota Tacoma, Toyota Tundra and the Ford Mustang.

Compare that to the list of cars with the highest depreciation: The Nissan Leaf is at 63%, followed by the BMW 5 Series, Audi A6, Mercedes Benz E-Class and the Buick Enclave.

“It’s always interesting,” Brauer said.

“Different vehicles are popular in different regions. It’s clear Las Vegas has the truck element to it, great offroading and beautiful scenery. And you’ve got the Wrangler, hot or hotter, than anywhere else,” Brauer said.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

8 news now breaking and daily news sign up


Pro Football Challenge

Don't Miss

Trending Stories