Buying almost any new car is a surefire way to lose money. Whether you buy a new luxury SUV or a desirable sports car, depreciation comes for them all. Only in exceptionally rare cases do vehicles of any kind actually gain value. For example, the second-generation Ford GT once started in the mid $400k range in 2017, but now it’s worth about double on the used market.
Pickup trucks usually follow the same patterns as any other mainstream model — they lose value quickly at first, then find a plateau or valley to rest in. The V6 Toyota Tacoma is one of the few trucks that lost some value at first, but now you can drive it all you want before reselling it for about as much as you paid.
Used vehicle prices vary greatly depending on location, mileage, number of owners, condition, and more. The prices quoted in this article may not represent exactly what you’ll pay for a used pickup truck.
Depreciation Comes For Us All… Or Does It?
New cars, although shiny and exciting, usually lose about 20% of their original value in the first year of service, then a total of 40–50% after just five years on the road. For most of us, that’s just the way the cookie crumbles. Cars are meant to be driven; they get scratched, people spill coffee while driving, parts break. You may even modify a vehicle to your specific taste, but those modifications don’t typically add value to a car.
2023 Toyota Tacoma front 3/4 angle in grayToyota
There are a few main reasons why they lose value. We mentioned a handful of normal wear and tear instances, which is our first reason. You can be as careful as possible, but driving will still wear out the seats, rack up the miles, and ultimately result in a less desirable used car. That doesn’t mean you should let your car sit in a garage, though, because normal wear and tear might not be a deal-breaker to the next buyer.
More troubling reasons include your car’s tech feeling out of date or becoming obsolete, and especially the number of times your car has transferred ownership. Let’s start with tech: it might be easy to miss, but tech moves fast. When automakers update or refresh their models, the old model years could drop in value simply because they’re not the latest and greatest. Cars especially lose value when they have multiple owners, though. Even if it does have the latest tech and great features, trusting that previous owners all took care of maintenance on time is difficult the more people have owned the car.
Not all is lost, though — some models hold onto their value better than others.
The Third-Gen Tacoma Doesn’t Lose Much Value
2023 Toyota Tacoma side angle in redToyota
We brought up the fact that obsolescence devalues cars, but the exact opposite can happen in the right circumstances. For example, Toyota’s fourth-generation Tacoma tossed the truck’s old V6 out the door in favor of a new four-cylinder hybrid power plant. The Tacoma’s hybrid system is pretty great in terms of efficiency (relative to the old V6), total power output, and towing/hauling capacity. However, truck enthusiasts are still in love with the old V6.
What Makes The Last V6 Tacoma So Valuable?
2023 Toyota Tacoma rear 3/4 angle in grayToyota
The current Tacoma generation introduced a cushier ride with new suspension, new powertrain options, and a bunch of new tech. Enthusiasts have been skeptical of the new hybrid system, though. On paper, it’s great. It keeps up with contemporary rivals and offers the same or better capability when compared to the third-generation Tacoma. However, it hasn’t been around for long enough to determine its reliability — the number one reason for wanting the old V6 instead.
2023 was the V6 model’s final year, and it went off with a bang. It scored an 83 out of 100 in JD Power’s Quality & Reliability rating, a 4.4 out of 5 for reliability from Kelley Blue Book users, and has just 52 complaints reported to the NHTSA. The V6 is notoriously reliable. The 4.0-liter V6 had been around since the second-generation began in 2004, so Toyota had plenty of time to work out any potential issues by the time 2023 rolled around. When it was new, the 2023 Tacoma’s base MSRP ranged from $27,250 for the SR trim to $46,685 for the TRD Pro. Today, Classic.com values the 2023 model year at an average of $48,750. CarBuzz’s own marketplace price trends data shows the TRD Pro being listed for an average of $47,654, meaning it hasn’t lost any value whatsoever in three years.
Tacomas Aren’t The Only Trucks With High Resale Values
2024 Ford Ranger Raptor front 3/4 angle in blackFord
According to CarEdge, the Toyota Tacoma holds an average of 78.4% of its value after its first five years on the road. That makes it one of the best vehicles — not just pickup trucks — for resale value. It helps Toyota as a brand reach an average five-year resale value of 64.9%. However, it’s not the only model capable of holding value. Sometimes a model can depreciate like normal on average, but specific variants hold value as well as the Tacoma. Enter: the Ford Ranger Raptor, the final V8 Toyota Tundra, and the second-generation Nissan Frontier.
Used Ford Ranger Raptors Have A Grip On Their MSRP
2024 Ford Ranger Raptor rear 3/4 angle while parkedFord
The 2024 Ford Ranger Raptor came with an original MSRP of $55,470. It’s expensive; in fact, it costs more than the Tacoma TRD Pro and Chevy Colorado ZR2 from the same model year. While one might expect an ultra-expensive midsize truck to lose some value after a couple of years on the road, JD Power’s data shows the model with an average price of $55,275 for a used example. Since it’s from 2024, not enough time has passed to gain many miles on the odometer, but here are some used examples listed for sale at the time of writing:
- A 20,434-mile Raptor for $53,900 listed in Oregon
- A 12,663-mile Raptor for $54,997 listed in Washington
- A 31,066-mile Raptor for $52,378 in Kentucky
Buyers herald the Ranger Raptor for its Baja-tuned FOX racing suspension and its 3.0-liter twin-turbocharged V6 that makes 405 horsepower. It also makes for a comfortable off-roader with heated leather seats, a 10-speaker Bang & Olufsen sound system, and more.
Toyota’s Full-Size V8 Pickup Retains Value Nearly As Well
2021 Toyota Tundra front 3/4 angle while parkedToyota
For those of you who need a full-size truck to perform heavy-duty tasks, the Tundra makes for an excellent option. Not just any Tundra — buy the 2021 model year, since it’s the final year the truck used its 5.7-liter V8 before Toyota made its change to a 3.5-liter twin-turbo V6.
It was equipped with a reliable, powerful V8 engine that made 381 horsepower and 401 lb-ft of torque, and it could tow up to 10,200 pounds when properly equipped. Despite its “lazy transmission, choppy ride quality, and outdated interior work” (according to our senior road tester, Ian Wright), it manages to hold value incredibly well. The truck is five years old, and still sells for near its original MSRP.
For example, the 1794 Edition CrewMax trim had an MSRP of $51,945. Today, our marketplace price trend data shows the trim with an average value of $46,868. The Limited Double Cab went for $45,440 when it was new, and now our data shows an average value of $44,095. So the 2021 Tundra has technically lost some value. That said, only losing a couple thousand dollars over five years is remarkable for any vehicle.
The 2nd-Gen Nissan Frontier Is Cheap And Holding Steady
2020 Nissan Frontier side angle in red while parkedNissan
This one is a little different, because the post-facelift second-generation Nissan Frontier is not worth as much as it sold for when new. However, its reliability, simplistic nature, and rugged capability are becoming more desirable as trucks get more complicated today. The Frontier’s second generation was on sale from 2005 through 2021, with the post-facelift model years beginning in 2009.
Our Frontier of choice is the 2021 model year, since its 3.8-liter V6 comes with reliability to rival the Tacoma. It was sold in a variety of trim levels, bed sizes, and cab configurations, plus your choice of either RWD or 4WD. The King Cab SV with 4WD is still worth about $28,000, according to our price trend data, which means depreciation didn’t take much when you consider its $28,070 original MSRP.
Peak Ownership Experience Is Achieved By Forgetting Resale Value
2021 Toyota Tundra Mk2 Facelift Gray Side View on DirtCarBuzz
At the end of the day, we feel as though you should drive whatever you want without the fear of poor resale value nagging at the back of your head. Sure, some vehicles suffer from worse depreciation than others, but if you enjoy or would get more use out of one of those “worse” models, then we wholeheartedly encourage driving it. There’s nothing worse than buying a car or truck only to let it sit in a garage for years gathering dust in hopes that you can resell it later. If you want an investment to gain value over time, don’t put your money in a vehicle.
All this is to say, there are plenty of capable trucks out there that might be better suited to your needs than one of the models we discussed today. However, nobody can go wrong with a V6 Tacoma. It’s only more encouraging to see other trucks, like the full-size V8 Tundra, Baja-ready Ford Ranger Raptor, and simple (but robust) Nissan Frontier, holding value, so buyers will feel more confident spending their hard-earned cash.
Sources: Toyota, Ford, Nissan, JD Power, NHTSA, CarEdge
