5 Vehicles That Get Traded in the Most -- See What They Are Worth
When it comes to trade-ins, there are definite patterns by make, model, year, class … you name it. And that means some cars clearly get traded in more than others.
Now that doesn't mean these are bad cars. In most cases, they're popular, high-volume models or vehicles owned by drivers who replace them more often.
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"Luxury cars tend to get traded in the most frequently. The reason is simple: Luxury buyers are more likely to upgrade to the latest models every few years," said Justin Fischer, an automotive retail analyst and expert at CarEdge. "A big downside to this habit is the hidden cost of depreciation."
According to Fischer, drivers who buy a new car every few years can lose thousands of dollars due to tumbling resale values. "This leads to many luxury drivers trading their cars in at a loss," he added.
Randy Barone, vice president at ACV Auctions, a digital automotive marketplace, sees trade-in activity in real time.
"Because we perform millions of these appraisals annually, we have a very accurate and reliable data set that clearly shows which vehicles are traded in most often," Barone said.
According to Barone, the most frequently traded models are also the highest-selling retail vehicles in the U.S. "The more vehicles that are sold and on the road, the more opportunities there are for those vehicles to return to the market as trade-ins," Barone said.
There's also a strong correlation with vehicle age. Most trade-ins are between three and a half to four years old, he noted, which aligns with the average ownership cycle for U.S. consumers. Another major factor is the expiration of the factory warranty, as some drivers choose to trade when the primary manufacturer's warranty is about to end.
Barone shared the top five models traded most, based on data from ACV Auctions.
2021 Chevrolet Silverado 1500
KBB Fair Purchase Price: $16,050 to $29,200
The 2021 Chevrolet Silverado 1500 is a full-size pickup truck that frequently appears as a trade-in, largely because it's one of the best-selling trucks in the U.S., according to Kelley Blue Book (KBB), and often replaced within a few years of ownership.
2018 Ford F-150
KBB Fair Purchase Price: $12,900 to $35,100
The Ford F-150 has been one of the best-selling vehicles in the U.S. for over four decades, according to Ford. The Ford F-150 is frequently traded in due to sheer volume and regular ownership turnover.
2022 Honda CR-V
KBB Fair Purchase Price: $22,300 to $26,400
According to KBB, the Honda CR-V is one of the original compact SUVs and also one of the best and most reliable. In 2022, the Honda CR-V was one of the brand's top-selling models, according to Best-Selling Cars.
2022 Toyota RAV4
KBB Fair Purchase Price: $23,400 to $30,600
Leasing can also affect trade-in frequency. "Vehicles like the Toyota RAV4 are heavily leased and with average lease terms also falling in the three-to-four-year range, those vehicles naturally re-enter the market in higher volumes through trade-ins," Barone said.
2022 Ram 1500
KBB Fair Purchase Price: $26,600 to $65,400
The Ram 1500 is a top-selling full-size pickup, which contributes to its frequent appearance as a trade-in. According to U.S. News & World Report, it's considered one of the nicest full-size domestic pick-up trucks, but falls short of its Ford and Chevy rivals in terms of popularity.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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