Top 10 Pre-Owned Vehicles With the Best Resale Value
Buying a car is an investment. Not like an appreciating asset, of course, but as a depreciating one that you want to hold as much value as possible from the time you buy to the time you eventually sell or trade in. That's why it's wise to look at models that will make every dollar go further and last longer.
The Canadian Black Book (CBB) estimates that brand new vehicles lose as much as 30% of their value in the first 12 months of ownership and some lose up to 40%. That means that choosing a used vehicle will help you avoid that initial loss.
Whether your plan is to reach positive equity faster or get more back when you sell your vehicle, we compiled 10 great pre-owned options for under $20,000 that hold their value well over time.
Find out if you can get finance approved for one of these vehicles. It's free to get pre-qualified online, and there's no obligation to buy.
1. 2017 Toyota Camry
Price: Between $16,000 - $19,999
Engine: 178-268HP – 2.5L L4 DOHC 16-valve 4-cylinder engine
Fuel Economy: 7.1 Highway / 9.8 City
Other Highlights: Heated front seats from SE trim, great fuel economy, premium upholstery
The Camry comes in different trims, and you may be fortunate enough to find a higher one at a great price, but in any case, this is a model known to last and retain good value for years. Dependable fuel economy reduces the cost of ownership, and its overall durability in varying weather conditions makes it a reliable daily driver. You will get some modern essentials too, like cruise control, backup camera, Bluetooth, USB, and potentially heated seats for those chilly Canadian winters.
2. 2016 Honda Accord
Image Credit: MotorTrend
Price: Between $19,000 - $19,995
Engine: 185HP 2.4L L4 DOHC 16-valve
Fuel Economy: 6.4 Highway / 8.6 City
Other Highlights: Fuel economy, Honda Sensing, open to aftermarket upgrades
The Accord has long been one of the most recognizable cars on Canada’s roads, and it’s easy to see why when there are so many models from different years. There are different trims under 2016, so you may not get a fully-loaded one at the best price, but there are certainly good deals available. A base LX trim will get a rearview camera, Bluetooth and optional Honda Sensing.
3. 2016 Mitsubishi Lancer GTS
Image Credit: Edmunds
Price: Between $14,995 - $16,995
Engine: 168HP 2.4L DOHC 16-valve 4-cylinder engine
Fuel Economy: 7.7 Highway / 10.5 City
Other Highlights: Raised spoiler, heated vinyl seats, aftermarket upgrade options
The Lancer comes in various trims but we’ve focused on the GTS for its sportier look and performance, despite running on a 4-cylinder engine. As a compact car with available all-wheel drive, it’s a smooth ride that can go deceptively fast. It’s buoyed by solid fuel economy to get the most out of every full tank. The infotainment system and screen are outdated, but an aftermarket head unit could always add value when it comes to staying informed and entertained behind the wheel.
4. 2014 Subaru Impreza WRX
Image Credit: The Car Connection
Price: Between $17,000 - $19,500
Engine: 265HP 2.5L H4 turbo DOHC 16-valve engine
Fuel Economy: 8.0 Highway / 11.0 City
Other Highlights: Low-profile spoiler, 17-inch wheels, manual transmission
The WRX itself has different trims, so whether it’s a compact or hatchback, details like mileage, interiors and sizing may lead to major differences in price. You will find some listed in the sub-$20,000 range, though likely with higher mileage and not ALL the extras. Still, if you want to drive something with a manual transmission, this is one way to make it happen. The Impreza WRX has power to accelerate too with its turbo 4-cylinder engine.
5. 2014 Lexus ES 350
Image Credit: Autobytel
Price: Between $17,000 - $19,995
Engine: 268HP 3.5L DOHC 24-valve 6-cylinder engine
Fuel Economy: 6.4 Highway / 9.9 City
Other Highlights: Leather interior, remote start, sound system
While a 2014 model of any vehicle may feel little dated by now, Lexus vehicles are known to age well, and that’s especially true with the ES 350. It’s a smooth ride, though perhaps a little louder than newer Lexus models. Bluetooth and Siri Eyes Free are available, but you’ll otherwise have an older infotainment system, leaving you an opening to upgrade when you see fit. The interior is spacious and comfortable, with plenty of legroom for everyone sitting inside.
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6. 2014 Nissan Xterra PRO-4X
Image Credit: Driving.ca
Price: Between $16,000 - $19,995
Engine: 261HP 4.0L DOHC 24-valve 6-cylinder engine
Fuel Economy: 10.1 Highway / 14.5 City
Other Highlights: Better shocks, all-terrain tires, sound system
Unlike Nissan’s other SUVs, the Xterra has a more rugged look and performance, which may be one reason why it holds up well with its price, too. The interior can vary depending on what upgrades were already inside, but in any case, you will have a ride ready to go in Canadian weather at any time. You may want to eventually upgrade the infotainment screen, unless simple Bluetooth streaming is good enough.
7. 2016 Jeep Cherokee North
Price: Between $16,500 - $19,999
Engine: 184HP 2.4L SOHC 16-valve 4-cylinder engine
Fuel Economy: 8.1 Highway / 11.4 City
Other Highlights: Spacious interior, backup camera, heated seats
The Jeep Cherokee is pretty widely known, and they do tend to retain value, provided you take care of it. Fuel economy isn’t amazing, but it’s also an SUV that has speed and handling in its corner. You’ll also enjoy optimal cargo and passenger space so nothing and nobody gets left behind.
8. 2015 Chevrolet Camaro
Price: Between $18,800 - $19,999
Engine: 323HP 3.6L DOHC 24-valve 6-cylinder engine
Fuel Economy: 8.4 Highway / 14.0 City
Other Highlights: Dependable daily driver, backup camera, aftermarket upgrade options
Like a pro athlete with an impressive work ethic, the Camaro is both powerful and dependable. The 1LT will oftentimes be easier and cheaper to find than the 2LT, but either way, the popularity of the brand keeps much of the value intact for years. You can drive this in automatic or use the TAPshift to go manual if you want to make the engine roar.
9. 2019 Honda Fit LX
Price: Approx. $19,999
Engine: 130HP 1.5L L4 DOHC turbo 16-valve i-VTEC
Fuel Economy: 5.9 Highway / 7.0 City
Other Highlights: Spacious interior, backup camera, heated seats
The Fit comes in different trims, so there may be similarities between them. The LX is easier to find, and being so new, is a decent bargain compared to a 2020 model. Much of what’s in the 2020 can be found in the previous year’s offering, including CarPlay and Android Auto. It’s the ideal car for close-quarters city driving, and it offers an impressive fuel economy to help you save more at the pumps.
10. 2016 Nissan Frontier
Image Credit: Motor1.com
Price: Between $14,900 - $19,997
Engine: 261HP 4.0L DOHC 24-valve 6-cylinder engine
Fuel Economy: 11.3 Highway / 15.7 City
Other Highlights: Rear seating and cargo room, heated seats, backup camera
For a pickup truck that is more affordable and won’t lose too much of its value over time, the Frontier is worth considering. It’s not of the heavy-duty variety others are better known for, but going just about anywhere with some cargo in tow won’t be a problem. It’s not great on gas, but that’s par for the course for pickups anyway.
