Trucks are a popular choice for many because they offer versatility and power, but what happens when it's time to upgrade?
Some trucks hold their value over time better than others, so it’s important to consider that if you plan to get rid of one after a few years.
Here are a few 2023 model trucks that could be a smart money move if resale value is a factor in your decision to buy a new truck.
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GMC Hummer
General Motors resurrected the Hummer brand with a new all-electric version of the GMC Hummer.
Its rugged, stylish cues and unique features, like its crabwalk mode, help it keep its costs low and add some cash back to your pocket when you’re ready to sell.
Toyota Tundra
Although Toyota doesn’t sell as many pickup trucks in the U.S. as Chevy or Ford, the Tundra still has a strong reputation for long-lasting vehicles, which could help its resale value.
The truck was redesigned in 2022, so recent models may still hold their value as they aren’t as old as some other options while also maintaining their reputation for reliability.
GMC Canyon
The GMC Canyon gives drivers a good mid-size option if they want a pickup truck without the extra space.
Mid-size options can be ideal for work trucks or handling smaller loads. They are also more than 20 inches shorter than their bigger brothers, like the GMC Sierra, potentially making them ideal for some buyers who don’t want a big truck.
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Ford Maverick
The Ford Maverick is even shorter than the GMC Canyon, which also allows it to tune in better to those drivers who don’t want a huge pickup truck.
The Maverick is less than 200 inches in length but still has the design cues a pickup driver wants and the affordability they may need on a tight budget. The current model, for example, has a manufacturer’s suggested retail price starting at $23,920.
Ram 2500 HD
If resale value is a factor, the Ram 2500 HD is the best Ram model you can buy.
The rugged Ram 2500 was named the 2020 MotorTrend Truck of the Year, which noted its design and engineering as factors in the award. Those features have carried over to later models, making it a good option if you care about resale value.
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GMC Sierra HD
Another heavy-duty option that retains its value is the GMC Sierra HD, with its rugged design and towing capabilities, depending on your need for those options.
The GMC Sierra's new redesigned model was released in 2024, which could boost its resale value for shoppers who don’t mind the previous model and are looking for a deal.
Chevrolet Colorado
The midsized Chevrolet Colorado was redesigned in 2023, giving potential buyers the most recent design cues and feature additions compared to other models.
The Colorado also has a shorter bed than other options, which can be helpful for drivers looking for a smaller version of typically big pickups on the market.
Jeep Gladiator
The Jeep Gladiator gets high marks with the brand’s famous Wrangler giving this pickup plenty of design cues that appeal to fans of its ruggedness.
The bed of the pickup is perfect for off-roading and adventure accessories as the Gladiator is ideal for taking in nature and going off the beaten path.
Toyota Tacoma
Reliability is again a big factor for Toyota when it comes to the Toyota Tacoma holding its resale value.
The Tacoma’s reliability scores are consistent from model year to model year, and its high sales make it more popular to own and maintain, as parts are easy to come by.
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Chevrolet Silverado HD
One of the bestselling cars in the country is the Chevrolet Silverado, which also makes it a great candidate for resale.
The heavy-duty version of this truck offers options that appeal to owners like towing capacity and a large bed that gives users some extra versatility depending on what you need.
Bottom line
Resale value could be an important factor when buying a new car, but you’ll also want to consider other issues affecting its value.
Remember to set aside some cash for maintenance and potential repair issues that could bring down the value of your car if you don’t care for it.
It’s also a good idea to shop around for the best car insurance rates and see what kind of deals you can get if you manage to take good care of your vehicle before selling it.
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