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What is the GMC depreciation rate?
I’m looking into purchasing a GMV vehicle in the near future and I want to make sure I invest in something that holds its value for a while. Can you tell me more about GMC’s depreciation rates?
Mary Cahill · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
A car’s depreciation rate matters! GMC depreciation rates vary by model.
Depreciation refers to how quickly a vehicle loses its original value and helps determine the projected resale price.
Trucks are known to have slower depreciation rates than any other type of vehicle, which works in GMC’s favor since they make some of the most popular pickups around. For insurance, the 2022
GMC Canyon Elevation
will depreciate 16% after a five-year period and have an approximate resale value of around $38,412. The
GMC Sierra 1500
has a projected five-year depreciation rate of nearly *22%** for a potential resale value of $46,588. While there isn’t a whole lot you can do (aside from practicing regular maintenance), the best way to get a great deal on
car insurance
is to compare rates. The best way to compare rates? By downloading the Jerry
app of course! Download Jerry and you get instant access to the cheapest
GMC insurance costs
around. When you enroll in a new policy using Jerry’s expertise, you could save over $800 per year on car insurance! View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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