Find the depreciation rate of your Chevrolet Cruze in the graph below.
Every vehicle begins to depreciate, or lose value, the moment you purchase it, including the Chevrolet Cruze. The highest depreciation will occur in the first year of ownership — for example, a 2019 Cruze had a first-year depreciation rate of 38.1%. After the initial drop in value, the Cruze will depreciate more slowly until it reaches the five-year mark. All vehicle makes and models depreciate at different rates. By learning the depreciation rate of a specific vehicle, you can assess its long-term value and the total cost of ownership to decide if it’s worth the money.
Keep in mind that just because the vehicle costs the least to own in the sweet spot we have outlined here, you still may not want to own the vehicle during these depreciation sweet spot years. Although vehicles depreciate less as they get older, they have more repairs. Duh right? However, keep in mind that repairs don’t just cost you money, they cost you time. Reliability is the difference between being able to make it to your destination on time or missing an opportunity because the car broke down.
Check out our article on the best and worst years of the Chevrolet Cruze to see our reliability ratings for all years of the Cruze. We also cover MPG, safety ratings, and a number of other factors. We pulled data from Cruzes registered in our app and surveyed owners to get you data-backed answers on just how good or bad each year of the Cruze is.
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Chevrolet Cruze Depreciation
|Model Years||Mileage||Amount Depreciated||Residual Value Percentage||Resale Value|
The above chart shows the approximate depreciation for a Chevrolet Cruze. It’s based on Kelley Blue Book data since 2001, assuming a vehicle in a standard trim, a generic color such as black or white, and a mileage of 12,000 per year.
Remember that the auto market was heavily affected in 2020 and beyond. Automakers selling new cars during the COVID-19 pandemic raised prices, which caused a spike in demand in the used car market as people tried to save money. Many automakers, however, did not drop prices after the pandemic In order to make a larger profit.
This is why the most recent years of many vehicles have seemed to experience less depreciation. Some may have even appreciated due to heightened levels of inflation.
Factors That Impact the Chevrolet Cruze Depreciation Rate
Chevrolet, an American auto manufacturer, consistently delivers a wide range of affordable vehicles. Its signature bow tie emblem adorns the brand’s line of pickup trucks, SUVs, cars, electric vehicles, and sports cars. Chevy produces quality vehicles, but some of its cars lag behind other brands in reliability. Besides the automaker’s reputation, here are some other factors that may affect the depreciation rate and resale value of your Chevy Cruze:
The model year of a Chevy Cruze can be one of the biggest indicators of its value. A vehicle’s model year refers to its generation and pricing, rather than its year of manufacture. In the early years of ownership, a vehicle tends to depreciate quickly before evening out over time. The Cruze, though now discontinued, was in production from 2011 to 2019.
Each automaker releases new versions of its vehicles through refreshes and redesigns. During a refresh year, a car might receive minor updates and a few new features. In a redesign year, it might get a new platform, powertrain, or upgraded technology. When the automaker releases a new version, particularly a redesign, the outgoing model year usually depreciates in value. For this reason, different model years of the same vehicle may have varying safety ratings and reliability scores, making some model years better than others.
A car’s body type, also known as body style, is its classification based on factors including its size, shape, and layout. Body types include sedans, coupes, hatchbacks, sports cars, convertibles, station wagons, minivans, vans, SUVs, and pickup trucks. Typically, SUVs and pickup trucks depreciate the slowest because of the demand for these vehicles. Luxury sedans usually depreciate the quickest.
The Chevy Cruze is a compact car available in both sedan and hatchback versions. While small cars lose their value more quickly than trucks and SUVs, their depreciation rate also depends on market trends. If there is a greater demand for sedans and hatchbacks, their depreciation rates may decrease.
The mileage of a vehicle, like its age, can also affect its resale value. Cars with high mileage usually show more wear and tear, and they may require additional maintenance and repairs. That’s why they typically depreciate more quickly than cars with low mileage. The average person drives around 1,000 miles each month, and we base our figures on 12,000 miles of driving per year. If you drive more or less than that, it can affect the depreciation of your Cruze.
A vehicle’s overall condition applies to both its mechanical functioning and its appearance. Scheduled maintenance can limit the wear and tear on a vehicle, helping it retain its value. If you follow your Cruze’s maintenance schedule, keep the car looking nice, and avoid major damage, you can potentially slow its depreciation rate, meaning you’ll get more for the car when you’re ready to sell.
It’s worth noting that at some point, it’s likely your car will not be worth fixing if it requires advanced maintenance or extensive repairs, because those repairs may be more costly than the resale value of the vehicle. At that point, it might be better to sell or trade in the vehicle instead of spending money that you won’t see in return.
Color may or may not be an important factor in your purchasing decision, but it can affect the depreciation rate of a vehicle. A study from iSeeCars found certain colors, including yellow, green, and orange, retain their value better than other colors, simply because fewer of them are available. Beige, a more subtle color, also has a lower depreciation rate than other vehicles, according to the study.
Other colors that are more widely available, including black, brown, and silver, usually depreciate at an average rate or slightly faster. White, one of the most popular vehicle colors, usually has an average depreciation compared to other colors. Whether color matters to you personally or not, it’s worth taking into consideration if you want a car with a high resale value.
Other Costs of Chevrolet Cruze Ownership
While depreciation is one cost related to vehicle ownership, it’s not the only one. Here are some other costs associated with owning a Chevy Cruze.
Insurance rates vary widely among vehicles, making some more costly to insure than others. Typically, vehicles in trims with comprehensive safety features cost less to insure. A vehicle’s body type and age can also affect the cost of auto insurance.
You might save money on your premiums if you drive a Chevy Cruze. On average, it costs around $1,478 per year for full coverage on a Cruze. In comparison, the national average cost of full coverage on a vehicle is $2,014 per year, according to Bankrate.
It’s important to take your Chevy Cruze in for routine maintenance to ensure it operates smoothly. Regular maintenance can help slow the rate of depreciation. The average maintenance and repair costs for a Chevy Cruze are $831 per year. That’s above the average repair costs for all vehicles, which are $694 per year. Compare the maintenance costs of a Chevrolet Cruze by model year using our graph.
Some model years of the Chevy Cruze may have higher than average maintenance costs. These specific model years have known issues, including engine problems and lower reliability, that may result in quicker depreciation:
The Best Chevrolet Cruze Model Year To Buy
Based on factors including price and reliability (but not depreciation), our choice for the best Chevrolet Cruze model year to buy is 2015, but check out our article on the best and worst years of the Cruze to get the whole story. This model year gets you within the sweet spot, based on residual value after depreciation. It also has good ratings for reliability and fewer recalls than other years.
Buying a Chevrolet Cruze New vs. Used
|Years Since Purchased||Depreciated Value||With Inflation|
Chevrolet discontinued production of the Cruze in 2019. In 2023, the value of a 2019 Cruze is $14,347, accounting for depreciation of $8,841.93. In comparison, a 2017 Cruze has a value of $8,843 after an accumulated depreciation of $13,600.12. Since that’s a higher residual value than earlier model years, it’s better to purchase a used Cruze between model years 2011-2015.
When shopping for used cars, do some research to determine the depreciation rate of the vehicle and model year you’re considering. Use tools such as Kelley Blue Book to determine the value of a used vehicle. Factor in other costs of ownership, including maintenance and insurance, to ensure you’re paying a fair price for a vehicle that will hold its value.
The data we’ve highlighted here applies to the base Chevrolet Cruze trim with standard options. Different trims may have different values. Upper-level trims of the Cruze with additional features and advanced options may have a higher value. How you choose to sell your vehicle, whether privately or through a trade-in, can also affect the value of your Cruze. The continuing effects of the COVID-era chip shortage may affect resale values on used cars.
There are significant economic factors at play here too, and the sale of new cars has caused shifts in the used market. There is a stark difference in the cost of vehicles due to car manufacturers seeking higher profit margins after COVID, as detailed by CNN and posted by CBS channel 58:
“… (T)he auto industry saw sky-high profits even as sales plummeted. Domestic manufacturers of cars and car parts saw a profit of $32 billion through the third quarter of 2022 (the latest data available) — their largest profit since 2016. Car dealerships also reported record-breaking profits through Q3, according to auto-retail advisers Haig Partners.
That’s because pandemic-era pent-up consumer demand remained strong as supply shifted, allowing automakers to increase their prices and their profit margins. Cars and trucks were sold nearly as soon as they hit dealership lots, and the average price paid for a vehicle in December soared to a near-record high of $46,382, according to J.D. Power.
Data from the Labor Department’s November Consumer Price Index shows American consumers are paying about 20% more for cars than they were in 2019.
The trend could continue into next year — research website Edmunds expects new-car sales to hit 14.8 million in 2023, a marginal increase from last year but well below pre-pandemic levels.
The auto industry has entered a new era: Less choice, higher prices, and larger profit margins. So far it seems to be working for them.”
This shift by car companies to create higher profit margins by taking advantage of the heavily reported chip shortage panic of COVID has had rebounding effects on the value of used cars.
Be aware that newer years (the latest 3-4 model years) may be higher in price because of this, and depending on how big the problem is for the model you are considering — it may even be inflating the price of older cars.
Frequently Asked Questions About Vehicle Depreciation
In general, the Chevrolet Cruze has a decent resale value, but it depends on various factors. In addition to age, mileage, condition, and other factors discussed here, the method of sale can also affect its value. For example, if you trade in a white 2019 Cruze L sedan to the dealership, it will have an average value of $6,374 if it’s in good condition with standard equipment. In comparison, the same vehicle has a value of $8,462 if you sell it privately, according to Kelley Blue Book.
The best Chevy Cruze model year to purchase is 2015, based on the depreciation rate and other factors, including reliability and maintenance costs. Model years 2017-2019 have good reliability scores and fewer upkeep costs, but they’re not in the sweet spot for depreciation.
Avoid these model years if you’re purchasing a used Chevy Cruze:
Earlier model years have lower reliability and known engine-related issues. The 2016 model year also has a high likelihood of expensive repair costs.
Because of factors such as usage and maintenance, high mileage can have different definitions for the Chevy Cruze. For instance, a well-maintained Cruze with 150,000 miles of mostly highway mileage is likely to hold up better than an 80,000-mile Cruze that has been through the rigors of city driving and missed maintenance work.
Asking Cruze owners yields conflicting results about vehicle longevity. Approximately 19% feel their cars will reach 200,000 miles, while 33% say otherwise.
To avoid the most depreciation on a Chevy Cruze, purchase a model between 2011-2014.
Chevrolet. Consumer Reports. Retrieved Aug. 3, 2023, from https://www.consumerreports.org/cars/chevrolet/
Redesigned, Refreshed and All-New: What’s the Difference? Chicago Tribune (2014). Retrieved Aug. 3, 2023, from https://www.chicagotribune.com/autos/chi-understanding-redesigned-refreshed-and-allnew-cars-story.html
Types of Cars and Body Styles Explained. Kelley Blue Book (2022). Retrieved Aug. 3, 2023, from https://www.kbb.com/car-advice/types-of-vehicles-explained/
Chevrolet Cruze/Cruze Hatchback – 2019. Chevrolet (2019). Retrieved Aug. 3, 2023, from https://media.chevrolet.com/media/us/en/chevrolet/vehicles/cruze/2019.html
Average Miles Driven Per Year: Why It Is Important. Kelley Blue Book (2023). Retrieved Aug. 3, 2023, from https://www.kbb.com/car-advice/average-miles-driven-per-year/
New and Used Cruze Prices, Chevrolet Cruze Model Years, and History. J.D. Power. Retrieved Aug. 3, 2023, from https://www.jdpower.com/cars/history/chevrolet/cruze
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