Do durangos have good resale value?
The Dodge Durango is a popular midsize SUV known for its powerful performance, spacious interior, and towing capabilities. If you're considering purchasing a Durango or already own one, you might be wondering about its resale value. In this article, we'll explore whether the Dodge Durango holds its value well over time and what factors influence its resale performance.
Understanding Resale Value
Resale value refers to the amount of money a vehicle retains when sold after a certain period of ownership. A car with good resale value depreciates slower than others, making it a better long-term investment. Several factors influence resale value, including brand reputation, reliability, demand, and maintenance history.
How Does the Dodge Durango Perform in Resale Value?
The Dodge Durango generally has a moderate resale value compared to other SUVs in its class. While it doesn't top the charts like some competitors, it holds its value reasonably well for the following reasons:
- Performance and Capability: The Durango is known for its powerful engine options, including V6 and V8 variants, and its impressive towing capacity. These features make it appealing to buyers looking for a versatile SUV.
- Spacious Interior: With three rows of seating and ample cargo space, the Durango is a practical choice for families, which helps maintain its demand in the used car market.
- Brand Loyalty: Dodge has a loyal customer base, and the Durango benefits from this brand recognition, which can positively impact resale value.
Factors That May Affect the Durango's Resale Value
While the Durango has its strengths, certain factors can influence its resale value:
- Fuel Economy: The Durango's fuel efficiency is lower compared to some competitors, which may deter buyers in a market increasingly focused on fuel savings.
- Depreciation Rate: Like most SUVs, the Durango experiences significant depreciation in the first few years of ownership. However, this levels out over time.
- Trim Levels: Higher trims with more features, such as the R/T or SRT models, tend to retain value better than base models.
Tips to Maximize Your Durango's Resale Value
If you own a Dodge Durango and want to ensure you get the best resale value when it's time to sell, consider the following tips:
- Maintain Regular Service: Keep up with routine maintenance and repairs. A well-maintained vehicle is more attractive to buyers.
- Keep Records: Save all service and repair records to show potential buyers that the vehicle has been cared for properly.
- Choose Popular Features: When buying a new Durango, opt for features that are in high demand, such as all-wheel drive or advanced safety packages.
- Protect the Exterior: Regularly wash and wax your vehicle to prevent rust and maintain its appearance.
Conclusion
The Dodge Durango offers a solid balance of performance, space, and capability, which helps it maintain a decent resale value. While it may not outperform some competitors in terms of depreciation, its loyal following and practical features make it a reliable choice for many buyers. By taking good care of your Durango and choosing the right trim and features, you can maximize its resale value when the time comes to sell.
Frequently Asked Questions
What is the life expectancy of a durango?
Mileage plays a significant role in determining how long your Dodge Durango will last. Generally, higher mileage leads to more wear and tear on critical components. Most Durangos can last well over 200,000 miles with proper care.
What are the cons of a Dodge Durango?
Cons
- Fuel economy is below average, especially with the V8.
- Many of the latest advanced driver safety features don't come standard.
- Bigger and bulkier to drive than rival crossover SUVs.
What is the fair market value of a Dodge Durango?
Update chart
| Year | Avg Price | 30 days |
|---|---|---|
| 2020 Durango | $25,339 | -0.4% |
| 2021 Durango | $31,808 | -0.4% |
| 2022 Durango | $32,584 | +0.2% |
| 2023 Durango | $35,345 | -1.0% |
What is the most common problem with Dodge Durangos?
Common Dodge Durango Problems (2021-2024)
- Transmission Problems. Transmission issues are common in 2021-2024 Dodge Durango models.
- Engine Problems. Engine-related complaints include surging during acceleration, engine stalling, and loss of power without warning.
- Electrical System Malfunctions.
- Fuel System Problems.
What is the life expectancy of a Durango?
Mileage plays a significant role in determining how long your Dodge Durango will last. Generally, higher mileage leads to more wear and tear on critical components. Most Durangos can last well over 200,000 miles with proper care.
Are Durangos expensive to maintain?
Dodge Durango Maintenance
Maintenance and repair costs for a Dodge Durango will amount to $3,370 after 5 years.
How many miles is a lot for a Dodge Durango?
The Dodge Durango usually lasts from 200,000 to 250,000 miles when properly maintained. Data from the Department of Transportation reveals that, on average, car owners in the U.S. drive 13,476 miles per year. That suggests your Durango could last 14 to 18 years, depending on your driving style and range.
Do Dodge Durangos hold their value?
A 2022 Dodge Durango has depreciated $17,072 or 40% in the last 3 years and has a current resale value of $25,018 and trade-in value of $21,838. The 2022 Dodge Durango is in the 25-75% percentile for depreciation among all 2022 SUVs.
Are durangos expensive to maintain?
Dodge Durango Maintenance
Maintenance and repair costs for a Dodge Durango will amount to $3,370 after 5 years.
Does Dodge hold its value?
2022 is our top pick for the best model year value for Dodge vehicles. With the 2022, you would only pay, on average, 67% of the price as new, with 83% of the vehicle's useful life remaining. The 2023 and 2021 model years are also attractive years for the Dodge models, and provide a relatively good value.
