6 Cars That Are Plummeting in Value

Used car display at a dealership. With supply issues, used and preowned cars are in high demand.

When buying a car, many people hope to make a worthwhile purchase that will serve them for an extended amount of time. Then, when they’re ready to upgrade to a new vehicle, people hope to get a decent chunk of change when they decide to sell their used ride.

Read: 7 Best Cars for Retirees on a Budget

Learn: How To Get $340 a Year in Cash Back – for Things You Already Buy

For those who are looking for cars with long-lasting value and the ability to sell it later at a reasonable price, these options are not for you. Here are six cars that are quickly losing value.

Sponsored:Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief.

1. Hyundai Genesis

The Genesis is a two-door coupe and part of Hyundai’s luxury line, with prices rivaling Lexus and Acura.

But be warned: “The Hyundai Genesis has a speedy depreciation of 38% of its retail value in its first year,” according to Megazinos.com.

It is recommended to buy this car used, as it will quickly lose value.

2. Kia Cadenza

The Cadenza is part of Kia’s line of pseudo-luxury vehicles. This larger sedan is a better choice when used as, similar to the Genesis, it will lose 38% of its value within the first year.

3. Maserati Ghibli

Certain luxury vehicles also face similar issues with depreciation. The Ghibli, a sporty sedan from Italian automaker Maserati, is a higher-end luxury vehicle. However, the Ghibli comes with its own set of problems, including cheap bits such as window controls.

“Its stout starting price and questionable reliability both play a significant role in the car’s quick loss of value,” U.S. News said.

Over five years, the Ghibli will depreciate by 56.3%. This is due to its lower-end parts and reliability issues. It may be better to look elsewhere for a luxury car if you’re looking to sell your ride later.

4. BMW 7 Series

With the luxury price tag comes top-of-the-line features and the latest and greatest of car technology. However, this can also mean that the car maker is continuously competing against itself — something that is the case with the BMW 7 Series.

“Newer models come with dazzling tech and posh cabin finishes, but their exorbitant price tags and strong competition drive their resale prices down quickly,” said U.S News.

The 7 series drops in value as they continue to pump out cars that push the boundaries of today’s technology. Over five years, the BMW 7 series will depreciate by over 50%.

5. Ford Expedition

This large vehicle is one of Ford’s best-selling SUVs, and it will rapidly depreciate in value over a length of five years.

“The Expedition may be great at carrying families, but it’s not so awesome at holding its value,” U.S. News said.

Consumers can look to other SUVs that will take their money much farther over the years. The average depreciation value for the Ford Expedition is 50.7% over a five year period.

6. GMC Yukon

Another large SUV, the Yukon is a reliable car. This sturdy family vehicle is coveted by parents with busy kids. Unfortunately, it is also a gas-guzzler.

Read: 10 New Cars to Avoid Buying in 2024

The Yukon will have a first year depreciation of 33%, according to Megazinos.com. Though reliable and perfect for transporting big families around, it will depreciate quickly because of its questionable gas mileage.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: 6 Cars That Are Plummeting in Value