When seriously considering purchasing a vehicle, there are a lot more factors to consider than just the model, make and color that you want. What drives the automotive industry is value.

It’s a good idea to consider depreciation when shopping a used car dealership for a pre-owned vehicle. Most Americans want a car that is going to last and hold its value. The pursuit of long-lasting value has resulted in a shift towards reliability in the auto industry in recent years. 

iSeeCars.com regularly tracks vehicle resales to determine which best retain their value. Sports utility vehicles and trucks are currently holding their value best. That’s not a huge surprise considering big trucks and SUVs have long been associated with the American way of life. Many drivers have traded in their four-door sedans for midsize and large SUVs.

The main type of vehicle missing from most of the top 10 lowest depreciation lists are hybrid vehicles and electric vehicles. The good news for used car shoppers is you can buy reliable hybrid vehicles and electric vehicles like the Toyota Prius (52.5 percent depreciation over five years) or the Nissan Leaf (70.1 percent depreciation over five years) for a fraction of what it cost new just five years earlier.

Jeep

The most valued vehicles depreciate the slowest, on average between 19 and 40 percent over a five-year period. Current models that retain the most value include the Jeep Wrangler and Jeep Wrangler Unlimited.

Wranglers are known for their durable exteriors and are made for an active and adventurous lifestyle. They have a lifespan of over 10 years, which is an additional attractive incentive to vehicle owners.

A Jeep’s diverse functionality, including their ability to go off road, tow and get you to work, makes them a desired vehicle that holds their overall value. 

Toyota

A well-known brand for reliability and long-lasting value is Toyota. Three Toyota models are frequently on the top ten list for lowest depreciation: Tundra, Four Runner and Tacoma.

The Toyota Tacoma depreciates at about 32 percent on average over the course of five years. The Toyota Tundra and Four Runner range between 35 and 37 percent.

These Toyota models last owners for years and have a great resale value. Toyota has some of the longest-lasting cars on the market and a good reputation for reliability. The brand tends to focus on function and safety, making them valuable investments. 

Honda

Another brand that is known to hold its value is Honda. Honda ranks at a 4.0 out of a 5.0 on the reliability scale. Their vehicles tend to have great gas mileage in addition to their longevity.

The Honda Fit and Honda Civic made last year’s list for top vehicle models under $25,000 with the lowest depreciation on AutoGuide.com and iSeeCars.com.

The Honda Ridgeline also retains more than 50 percent of its value over five years. Other models by Honda that have become popular for their reliability and long-lasting value are the Honda Odyssey and Accord.

GMC and Chevrolet

Two makes that hold their value in the premium truck sector are GMC and Chevrolet. The GMC Sierra and Canyon models have a depreciation of 46.1 and 41.2 percent. The Chevrolet Silverado comes in at 45 percent.

These trucks are known to be large and luxurious on the inside and tough and sturdy on the outside. For vehicle owners looking for something that seamlessly combines work, play and comfort, these trucks are impressive for their value. 

Porsche

One of the few sports car manufacturers that makes the list; Porsche – especially the Porsche 911 – excels at defending its title as a luxury, performance and durability leader. While Porsche has a higher price point than most vehicles, it excels at holding its value for vehicle owners, with an average depreciation rate of about 36 percent over five years.

The Porsche 911 is one of the only cars of its class on the current top 10 vehicles with lowest depreciation. There are several Porsche models that are good at holding their value, from the four-door crossover to the two-door coupe.

If you are looking for something to splurge a little more on, Porsche is a top-of-line investment. 

Subaru

The other sports car that has made it on the top 10 list of vehicles with the lowest depreciation is the Subaru WRX. The WRX boasts a depreciation value slightly less than 40 percent. Subaru’s are unique for being a sports car and a sedan all in one.

The Subaru WRX proves there is value in space and speed. They are also durable and reliable, like most other Japanese models. 

Find an Affordable Used Vehicle Near You in Maryland

The vehicle you choose to purchase really depends on what is most important to you. Whether it is reliability and durability or size and model, getting the most out of a dollar well spent is often the top priority for shoppers in the automotive resale market.

Even the best new vehicle depreciates at least 30 percent over its first five years on the road. At the end of that five years, it may still be in like-new condition with a hundred-thousand-plus miles to go. In nearly every scenario you’ll maximize the value of your automotive purchase by buying a preowned vehicle rather than new.

At Eastern Automotive, we offer a range of these models on our Maryland and Virginia lots for vehicle purchasers looking for the best value. Come check out our inventory, visit us online or call us at (877) 867-3612 to ask about our selection.

We also offer great trade-in deals and are committed to paying fair valuations to local Baltimore and Washington DC car sellers.

People born in the ‘80s or earlier can still remember a time when people had to look in the yellow pages, call a business or drive somewhere to learn more about products. Love it or hate it, the internet has completely changed the way people live their lives and shop.

The stigma associated with buying a used car was built over the latter half of the 20^th century. People told jokes about “lemons” and used car salesmen that were often false or exaggerated, even then.

The internet has gone a long way towards dispelling those tropes.

You don’t necessarily have to buy a car online to take advantage of safer used car dealership shopping experiences. Online inventories, pre-owned certifications and a nearly limitless supply of information has made online research and vehicle purchases from used car dealerships an easy choice for many car shoppers.

Quality Verifications

Concerns about reliability are certainly not exclusive to used cars. Most people have probably owned an unreliable car at some point in their life. Frequent breakdowns, trips to the mechanic and expensive repair bills can hound some new vehicles as well.

Before the internet, it was tough to get an unbiased, honest assessments about a vehicle’s quality. You might see a car on the road, like how it looks and then visit a dealership. At the dealership, the car salesperson would give you a rosy, maybe even slightly misleading assessment of the vehicle. In these dark times, there were few ways for a car shopper to easily fact check the salesperson’s claims.

It’s unlikely that many new car salespeople were telling customers that a vehicle had a history of unreliability, even if it were true. They weren’t warning shoppers that they might end up paying mechanics thousands of dollars on repairs over the first couple years of ownership.

The internet brought us Carfax, countless car blogs, hundreds of websites about new cars and a practically limitless supply of personal anecdotal experiences on social media and message boards. Consumers and experts were able to speak directly to car buyers about their experiences with particular makes and models.

It’s never been easier to get unbiased information about the reliability of a vehicle from third parties with no incentive to mislead car shoppers.

Fair, Honest Pricing

It wasn’t always easy to be confident that the price you were paying for a new or used vehicle was fair.

The Kelley Blue Book has been around for nearly 100 years, but not everyone had easy access to an updated copy prior to the internet. Even CarMax and Carfax slightly predate the internet, but they weren’t exactly accessible or widely used until the 21^st century.

Back in the pre-internet years, used car buyers often had no idea whether they were purchasing a vehicle that had been in an accident, suffered flood damage or was otherwise compromised.

It’s difficult for vehicle resellers to get away with selling unreliable vehicles today. Car shoppers have several ways to look up the history of a vehicle they are considering. Many pre-owned dealerships have embraced this new age of transparency by performing their own detailed vehicle checks and certifications. All of these advancements have been good for pre-owned vehicle shoppers. You can safely purchase a used car or truck and feel confident about the quality of your vehicle thanks in large part to online car buying resources.

Online Inventories

Pre-internet car shopping usually meant driving around all the dealerships in your town to find out about their selection. If you lived in a rural area or there weren’t many dealerships in your city, you might only have a handful of options to choose from.

Online inventories have completely revolutionized the pre-owned vehicle choices available to car shoppers.

Easterns Automotive Group has an inventory of about 1,800 pre-owned vehicles. You don’t have to drive around our eight Baltimore, Washington DC and Frederick locations to learn about each vehicle. All you have to do is browse through the comprehensive inventory on our website.

Clicking on a vehicle is just as good as walking up to it in person. There are several images of the vehicle, a link to the Carfax report and even a picture of the window sticker – all available on your phone or computer.

You can even find out what kind of financing, lease or cash purchase options you can get on each vehicle in Easterns’ inventory. Modern shoppers can quickly and easily sort inventories by price, model and feature, something that would have been unheard of in pre-internet days.

Find a Reliable Pre-Owned Vehicle for Sale Near You at Easterns Automotive

Ready to upgrade your vehicle? Easterns Automotive Group makes it easy to find a great pre-owned vehicle at a price that works for you. Our friendly sales staff are customer-centric professionals who are committed to helping you find the right car, truck or SUV.

Worried about your credit, or aren’t sure you’ll qualify for financing? We work with more than 30 lenders to ensure we can work out some type of deal with nearly every car shopper, regardless of their credit. We even offer pre-owned lease options.

Call us at (877) 867-1407 to get started or visit an Easterns Automotive location near you.

We haven’t quite made it to flying cars like The Jetsons, but we do at least have electric cars. They are environmentally friendly, energy-efficient and typically require less maintenance. States, the federal government and manufacturers are also incentivizing the purchase of electric vehicles with rebates and tax credits. Purchasing an electric car can save you money and save the planet. 

Maryland is one of 10 states that participates in the Zero Emissions Vehicles (ZEV) program. The ZEV program aims to reduce harmful emissions by requiring automakers to meet certain electric and hybrid vehicle production and sales quotas based on the number of non-electric cars they sell.

In addition to ZEV, Maryland’s Department of Transportation and the state’s Energy Administration have partnered to encourage residents to purchase electric vehicles (EVs). Their efforts have culminated in multiple current and future incentives for those who do purchase an EV. 

Tax Credits for EV Vehicle Purchases

Electric car buyers can receive a federal tax credit worth $2,500 to $7,500. Tax credits depend on the size of the vehicle and the capacity of its battery.

The Maryland legislature also has a bill to revive funding for the state’s electric vehicle state excise tax incentive worth up to $3,000 for electric vehicles or plug-in hybrids.

EV and hybrid vehicle purchase incentives do benefit from some bipartisan support in Maryland and throughout the country.

“Our Clean Cars initiative has been incredibly successful, and we are urging the legislature to work with us to extend the program and make it accessible to more Marylanders,” said Governor Hogan last year in support of the Clean Cars Act of 2021 legislation.  

The state of Maryland will hopefully continue to encourage electric vehicle purchases with additional incentives.

Rebate for EV Charging Equipment

In addition to the tax credit, Maryland offers a rebate for Electric Vehicle Supply Equipment (EVSE) purchases and installation. Rebates are offered on a first come first serve basis. EVSE rebate applications for the fiscal year ending in June 2021 are currently available.

Electric vehicle owners can get 40 percent of their vehicle’s charging equipment and installation paid for by the state. Both residential and commercial purchases qualify for the rebate.

• Up to $700 for individuals
• Up to $4,000 for businesses
• Up to $5,000 for service stations/gas stations

There is also a Federal EVSE credit of up to 30 percent or $1,000 available for installing a charging station. Residents and commercial property owners can receive this in addition to Maryland’s EV charging equipment rebate. 

A quality EVSE costs between $300 and $1,200 plus installation of up to $600.

With both federal and state incentives combined, you can theoretically get the government to pay for 70 percent of your EVSE purchase and installation.

EV drivers in Maryland still must pay for the electricity they use to charge their vehicles, but with government rebates the charging equipment is astonishingly affordable. Considering the reasonable cost and the rebate incentive, electric cars are quickly becoming an attractive and convenient alternative for many vehicle purchasers. 

Fuel Programs and Charging Station Savings

Drivers in Maryland that want to go green can sign up for fuel programs, including the Clean Fuels Technical Assistance Program (CFTA) and the Clean Fuels Incentive Program (CFIP). These programs make alternative fuel for EV vehicles more accessible and offers a variety of driver incentives. The goal of the program is to reduce the consumption of imported petroleum. 

Some companies are also joining the green bandwagon by offering savings to fuel up. Pepco and The Baltimore Gas and Electric Company (BGE) reduce electric charging rates during peak hours for drivers. These time-of-use charging rates save drivers even more money on top of the savings they are already enjoying from not having to purchase traditional fuels.

BGE also has a goal to install more charging stations throughout the Baltimore area and are encouraging EV vehicle purchases in Maryland through their EVsmart Program. 

HOV Access

What might seem like a minor incentive at first glance is possibly the most compelling of them all. Electric vehicle owners can use the High Occupancy Vehicle (HOV) lane at all times, with or without a passenger. That’s right – unlimited HOV lane access even in rush hour traffic. 

Take Advantage of EV and Hybrid Vehicle Incentives While They Last

Maryland’s incentives for purchasing an electric vehicle or hybrid vehicle are enticing to people looking for a new or used car to purchase. The state’s goal with programs like ZEV and EVsmart is to increase the number of electric and hybrid vehicles on the road to 300,000 by 2025.

Both government and non-governmental organizations in Maryland hope to encourage residents to purchase electric vehicles by creating an array of accommodations that make EV vehicles more affordable and convenient than traditional vehicles.

If you’re interested in learning more about used car leasing or EV purchases, Easterns Automotive can help you. Our used car dealership have a wide variety of hybrid vehicles and electric vehicles for sale near you. Browse our selection or give us a call at (877) 867-3612 so you can find the right vehicle for your driving needs.