Top 10 Pre-Owned Vehicles With the Best Resale Value

July 31, 2020

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. 

1. 2017 Toyota Camry

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

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

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

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

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.

If any of these cars interest you, Canada Drives can connect you to the best used car deals in your area. Apply today for FREE to see what great deals you're eligible for!

6. 2014 Nissan Xterra PRO-4X

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

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

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

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

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.

Enjoy better value with Canada Drives!

If you're interested in any of the cars on this list, Canada Drives can quickly help you locate the right car for the right price. Begin the journey and get preapproved for a new car today! Even if you have bad credit, we'll match you with a local dealership that knows how to help!

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