Skip to main content

We know you’re not going to keep your truck forever. So, it’s important to know how much you can sell it for in a few years. New and used trucks are selling for crazy money right now, but one truck should depreciate less than others. The 2022 GMC Canyon has the best residual value and the least depreciation of any truck over five years. But, it’s impossible to say what will happen when the new 2023 GMC Canyon hits dealers this fall.

Keep any truck maintained and it’ll keep its value

1993 Chevy Silverado Pace Truck
1993 Chevy Cilverado Pace Truck | Jacob Frey, Wikimedia Commons

Trucks don’t appreciate unless they’re collectible exotics. Some are buying and flipping trucks for massive profits.  But unless you put in an early order on a Rivian R1T or a GMC Hummer EV Truck, you’re out of luck if you’re looking to make a quick buck flipping.

Knowing that your truck is worth more should you encourage you to maintain it. Maintain your truck well, and it will be worth more when it comes time to sell it. So, show your compact truck some love. But don’t show it too many accessories if you want it to appreciate in value. A lot of the custom accessories that you love probably won’t increase your truck’s value. So, skip adding $5,000 worth of rims.

The 2022 GMC Canyon has the best depreciation curve

But according to CAREdge the 2022 GMC Canyon will have less depreciation than any other truck over five years. CAREdge measures a vehicle’s residual value and says that after three years, the 2022 GMC Canyon will maintain 87% of its value. After five years, that only drops to 84%. That’s impressive compared to other trucks. However, that’s over five years. In the first year it takes a big hit and it loses more than 10% of its value.

There’s a new 2023 Canyon on the way soon, however. A redesign can make an older version look, well, old. So there’s no telling what could happen.

Kelly Blue Book says the Tacoma will keep more value

Enjoy the size of this 2022 Toyota Tacoma because this midsize truck won't get any bigger
2022 Toyota Tacoma | Toyota

There are several ways to determine deprecation. The experts at KBB said that the Toyota Tacoma will retain more value than any other compact truck. Tacomas have been the best-selling smaller trucks for the last 17 years and are expected to retain 61.7% of their value according to Kelly Blue Book. The base price of a Tacoma is $26,700.

Tacomas are a nice size and offer great utility. Toyota Tacomas are smaller than a full-size Tundra, by quite a bit, which makes them easy to thread to your local tight Trader Joes parking lot. In TRD trims they offer tons of off-road capability. The base SR version is a great little work truck that can even get acceptable gas mileage with Toyota’s legendary reliability. You can order the Limited version that comes as a full luxury truck.

Related

The GMC Canyon Has Unbelievable Upgrades on the Way

Best in Trucks & SUVs
Writer - Sedans & Coupes

Dan Mayfield

Dan joined MotorBiscuit in 2022 with over 20 years of experience in journalism and a lifelong passion for anything related to the automotive industry. He grew up wrenching a 1949 Ford pickup truck and an MGB with his dad, learning how not to wire a fuel pump (he inadvertently set the MGB on fire).

After earning a bachelor’s degree in photojournalism from the University of New Mexico, Dan has contributed his expertise to a range of local outlets, including the City of Albuquerque, US Eagle, and the Alliance for Local Economic Prosperity.

On weekends, Dan spends Saturdays enjoying “cars and coffee” chats and, on Sundays, he’s watching the Route 66 Cruise roll through town. He also races motorcycles, and it’s not unusual to find him elbows-deep in his latest cafe racer build.

Taking advantage of the local desert terrain, Dan also enjoys exploring and driving off-road in his trusty Ram Rebel pickup truck, which provides personal insights into his contributions to our Trucks, SUVs, & Crossovers coverage. Dan strives to give our readers unique information about the dynamic automotive market, reading anything that has to do with cars, trucks, bikes, 4X4s, and, in his words, “everything with a motor.”

Dan has earned a number of accolades from the Public Relations Society of America, and is a University of Southern California, Annenberg School of Communication and Journalism Fellow.