Do Chevy Equinox hold their value?
The Chevrolet Equinox is a popular compact SUV that has been on the market for over a decade. One key question many buyers consider is how well the Equinox holds its value over time. Based on industry data and expert analysis, the Chevy Equinox generally holds its value reasonably well compared to other vehicles in its class.
Factors Affecting Resale Value
The resale value of a vehicle is influenced by several factors, including the make, model, mileage, condition, and overall demand in the used car market. The Chevrolet Equinox performs well in several of these areas:
- Reliability and Durability: The Equinox is known for its reliability and durability, which helps maintain its value over time.
- Popularity and Demand: The Equinox is a popular compact SUV, with consistent demand in the used car market. This helps support its resale value.li>
- Fuel Efficiency: The Equinox's fuel-efficient engines contribute to its appeal and value retention.
- Brand Reputation: Chevrolet is a well-established brand with a reputation for producing quality vehicles, which also benefits the Equinox's resale value.
These factors all contribute to the Chevy Equinox generally holding its value better than many of its competitors in the compact SUV segment.
Typical Resale Values
According to industry data, the Chevrolet Equinox typically retains around 50-60% of its original value after 3 years of ownership. This is a respectable resale value compared to the average for compact SUVs, which is often in the 40-50% range.p>
Of course, the exact resale value can vary depending on the specific model year, mileage, and condition of the Equinox. But overall, the Equinox is considered a solid choice for those looking for a compact SUV that will hold its value well over time.
What is the #1 most depreciating car?
Cars That Hold Their Value Worst
- Jagur I-Pace: 72.2% Depreciation.
- BMW 7 Series: 67.1% Depreciation.
- Tesla Model S: 65.2% Depreciation.
- Infiniti QX80: 65.0% Depreciation.
- Maserati Ghibli: 64.7% Depreciation.
- BMW 5 Series: 64.7% Depreciation.
- Nissan Leaf: 64.1% Depreciation.
- Maserati Levante: 63.7% Depreciation.
How long do Chevy Equinox usually last?
A Chevy Equinox can last 200,000 to 250,000 miles with proper maintenance, which is equivalent to about 13 to 17 years of average driving. The lifespan depends on regular maintenance, driving habits, and the specific model year, with later models generally showing better reliability. Factors like regular oil changes, timely repairs, and smooth driving habits can help extend the vehicle's life.
Factors that influence lifespan
- Regular maintenance: Following the recommended maintenance schedule, including oil changes, tire rotations, and filter replacements, is crucial for longevity.
- Driving habits: Smooth acceleration and braking put less stress on the engine and other components compared to aggressive driving. Frequent highway driving is also less stressful than stop-and-go city driving.
- Model year: Newer models (2018 and later) generally have better reliability ratings compared to older generations, which had some known issues, particularly with the four-cylinder engine in the 2010-2017 model years.
- Repairs: Addressing problems promptly can prevent minor issues from becoming major, costly repairs down the road.
- Engine choice: Some owners report good longevity with the V6 engine, while newer turbocharged four-cylinders in newer models are also considered reliable options.
What year to stay away from Chevy Equinox?
You should stay away from the Chevy Equinox years that include 2005–2008, 2010–2017, and 2018, due to common issues like excessive oil consumption, engine failures, and electrical problems. The most frequently cited model years to avoid are the ones from 2010-2013, primarily due to the high rate of oil consumption in the 2.4L engine, which can lead to costly engine damage.
Specific years and common problems
- 2005–2008: Prone to engine failures, electrical issues, and cooling system problems.
- 2010–2013: Frequently cited for heavy oil consumption, which can lead to engine wear and failure if not constantly monitored.
- 2014–2015: Some model years within this range are considered better than others, but the 2.4L engine still has a history of oil consumption issues.
- 2017: Known for issues similar to the 2010-2013 models, particularly with the 2.4L engine.
- 2018: Reported to have problems with the check engine light and issues with the battery.
How well does the Chevy Equinox hold its value?
A 2022 Chevrolet Equinox has depreciated $8,020 or 32% in the last 3 years and has a current resale value of $16,303 and trade-in value of $13,575. A 2022 Chevrolet Equinox has depreciated $8,020 or 32% in the last 3 years and has a current resale value of $16,303 and trade-in value of $13,575.
