10 cars with the best resale value under $40,000

New cars are depreciating assets no matter how you look at it. However, smart car buyers can minimize depreciation by purchasing a vehicle with a high residual valuealso known as resale value, should you ever decide to sell. Here are the top ten cars under $40,000 with the best resale value after five years. Don’t forget to check out the best resale values ​​for new cars under $30,000.

1. Nissan Frontier

RRP from: $32,020 (including destination charges)
Average selling price in 2024: 40,871 USD
5-year residual value: 88.6%

Why it’s great: The Nissan Frontier stands out in the midsize truck segment with 310 horsepower, a responsive ride, flexible construction and unmatched resale value. The Frontier comes standard with a 5.0-foot bed, and for those who need more cargo space, there’s an optional 6.0-foot bed – something the competition doesn’t offer. While it doesn’t tow as much as the Toyota Tacoma, the Frontier makes up for it with a lower price and the best resale value among midsize trucks.

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2. Toyota Tacoma

RRP from: $32,995 (including destination charges)
Average selling price in 2024: 46,407 USD
5-year residual value: 88.0%

Why it’s great: The Toyota Tacoma is praised by almost everyone who drives it for its exceptional durability and practicality. In 2024, the Tacoma remains a standout model in the midsize truck market, offering an updated exterior and a greatly modernized interior. The new design improves both its rugged appeal and comfort, which can be difficult to balance. One of the most important updates for 2024 is the availability of a hybrid powertrain, which offers better fuel efficiency without sacrificing power. Compared to larger truck competitors, the Tacoma tends to be found closer to the $40,000 price point. The Tacoma is one of the trucks with the best resale value, year after year.

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3. Honda Pilot

RRP from: $38,485 (including destination charges)
Average selling price in 2024: 49,221 USD
5-year residual value: 86.0%

Why it’s great: The 2024 Honda Pilot is a top choice for families thanks to its spacious three-row cabin. In a market full of midsize SUVs, the Pilot stands out for its functionality and versatility. Under the hood, the Pilot features a robust 285-horsepower V6 engine paired with a smooth 10-speed automatic transmission. While front-wheel drive is standard, all-wheel drive is available for those who need it. For adventurous families, the Pilot offers the TrailSport model, which includes higher ground clearance, all-terrain tires, and even skid plates. With a 5-year residual value of 86.0%, the Honda Pilot has one of the best resale values ​​of any SUV today.

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4. Mazda MX-5 Miata

RRP from: $30,170 (including destination charges)
Average selling price in 2024: $34,745
5-year residual value: 85.8%

Why it’s great: Considered the most affordable true sports car, the Mazda MX-5 Miata offers an exciting driving experience without spending a lot of money. Under the hood is a 2.0-liter four-cylinder engine that produces 181 horsepower, making every drive a thrill. Known for its lightweight construction and excellent handling, the Miata offers a responsive and engaging ride that appeals to enthusiasts on a budget. With such a high resale value, the Mazda Miata is a great choice for sports car enthusiasts who are keen to upgrade to the latest and greatest.

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5. GMC Canyon

RRP from: $37,595 (including destination charges)
Average selling price in 2024: 48,760 USD
5-year residual value: 85.3%

Why it’s great: The GMC Canyon combines power and capability in a midsize package. Under the hood, the Canyon features a robust 310-horsepower turbocharged four-cylinder engine paired with an eight-speed automatic transmission, resulting in a segment-leading towing capacity of 7,700 pounds. Its excellent resale value further enhances its appeal.

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6. Chevrolet Colorado

RRP from: $31,095 (including destination charges)
Average selling price in 2024: 42,112 USD
5-year residual value: 84.0%

Why it’s great: Chevrolet’s counterpart to the Canyon, the mid-size Colorado is a well-equipped truck with a high resale value. Powered by a 2.7-liter turbo engine, the Colorado is capable of most tasks. The Colorado features a four-door cab with a 5-foot-long bed and can be specified with either rear- or four-wheel drive. With a maximum towing capacity of up to 7,500 pounds, the Colorado is one of the most capable trucks in its class.

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7. Honda Odyssey

RRP from: $39,635 (including destination charges)
Average selling price in 2024: 45,395 USD
5-year residual value: 83.6%

Why it’s great: The eight-seat Odyssey demonstrates Honda’s commitment to family haulers with a quick V6 engine, a refined ride, solid handling and more space than 99% of families need. The Odyssey’s innovative Magic Slide seating system allows for versatile second-row seating configurations, and the third-row seats can be stowed in the floor to expand cargo capacity. While it doesn’t have as many high-tech features as the competition, it beats them by a long shot as the van with the best resale value in 2024.

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8. Subaru Outback

RRP from: $30,240 (including destination charges)
Average selling price in 2024: 39,573 USD
5-year residual value: 83.2%

Why it’s great: The Subaru Outback combines the best of both worlds with its SUV-like design and the handling of a passenger car, making it a versatile choice for a variety of driving needs. Every Outback is equipped with four-wheel drive, which ensures excellent traction and stability in a variety of driving conditions. While the cabin offers reasonable comfort and functionality, it is not luxurious, focusing instead on practicality and durability. The Subaru Outback’s combination of versatility and reliability makes it an excellent choice for those looking for an all-weather car with an excellent selling price.

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9. Honda CR-V

RRP from: $30,850 (including destination charges)
Average selling price in 2024: 37,286 USD
5-year residual value: 83.0%

Why it’s great: The Honda CR-V is a perennial favorite in the compact SUV segment and is known for its reliability and affordable pricing. The CR-V’s spacious interior and cargo capacity make it an ideal choice for families looking for a no-frills crossover. On the other hand, the CR-V is so popular that it can be difficult to negotiate. Fear not, the CarEdge Concierge Team can help with this.

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10. Mazda CX-5

RRP from: $30,720 (including destination charges)
Average selling price in 2024: 34,141 USD
5-year residual value: 82.7%

Why it’s great: Although newer rivals have emerged, the CX-5 continues to impress with its excellent handling and refined interior. Under the hood, the CX-5 packs 187 horsepower with standard all-wheel drive. Those looking for more power will be well served with the optional 2.5-liter turbo engine that produces 256 horsepower. While the CX-5 sacrifices some cargo space for its stylish design, the cabin exudes luxury and comfort, making it a pleasure to drive and ride along. Despite its age (7 years on the market), the CX-5 continues to impress and attract more and more fans. With a 5-year residual value of 82.7%, you can worry less should you need to upgrade from this workhorse in the future.

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There is a better way to buy

Finding a car that holds its value well is a smart financial decision. The Nissan Frontier, Toyota Tacoma, Honda Pilot and other models listed here offer robust features, a great driving experience and, most importantly, the best resale values. Looking for more DIY car buying tools? Check out CarEdge Insights for access behind the scenes!

Are you tired of the stress of buying a car? Let us do it for you with our CarEdge Concierge Service. Our experts will find the perfect vehicle for your needs, negotiate the best price and take care of all the details, saving you time and money. Learn more about CarEdge ConciergeAmerica’s #1 car buying service.