Does Dodge Durango hold their value?
The Dodge Durango is a popular midsize SUV known for its powerful performance, spacious interior, and towing capabilities. However, when considering purchasing a vehicle, one important factor to evaluate is its resale value. In this article, we’ll explore whether the Dodge Durango holds its value over time and what factors influence its depreciation.
Understanding Vehicle Depreciation
Depreciation is the reduction in a vehicle's value over time due to factors such as age, mileage, condition, and market demand. While all vehicles lose value as they age, some retain their value better than others. SUVs like the Dodge Durango often appeal to buyers for their versatility, which can positively impact their resale value.
How Does the Dodge Durango Perform in Resale Value?
The Dodge Durango generally holds its value reasonably well compared to other midsize SUVs. Here are some key points to consider:
- Performance and Features: The Durango is equipped with powerful engine options, including V6 and V8 variants, making it a favorite for those who need towing capacity or enjoy spirited driving. Its performance capabilities can make it more desirable in the used car market.
- Trim Levels and Options: Higher trims, such as the R/T or SRT models, tend to retain value better due to their premium features and performance enhancements.
- Market Demand: SUVs remain a popular choice among buyers, and the Durango’s combination of size, power, and comfort keeps it competitive in the resale market.
- Depreciation Rate: On average, the Dodge Durango depreciates at a moderate rate. While it may not hold its value as well as some luxury SUVs, it performs better than many sedans or smaller vehicles.
Factors That Influence the Durango’s Resale Value
Several factors can impact how well a Dodge Durango retains its value:
- Maintenance and Condition: Regular maintenance and keeping the vehicle in good condition can significantly improve its resale value.
- Mileage: Lower mileage vehicles are generally more appealing to buyers and command higher resale prices.
- Model Year: Newer models with updated features and technology tend to hold their value better than older ones.
- Market Trends: Changes in fuel prices or consumer preferences can affect the demand for SUVs like the Durango.
Tips for Maximizing Resale Value
If you own a Dodge Durango and want to maximize its resale value, consider the following tips:
- Keep up with regular maintenance and service schedules.
- Address any mechanical or cosmetic issues promptly.
- Maintain detailed service records to show potential buyers.
- Consider selling privately rather than trading in to get a higher price.
Conclusion
The Dodge Durango holds its value reasonably well, especially when properly maintained and equipped with desirable features. While it may not have the same resale value retention as some luxury brands, its performance, versatility, and popularity in the SUV market make it a solid choice for buyers who value both utility and style. If you’re considering purchasing a Durango, understanding its depreciation trends and taking steps to maintain its condition can help you get the most out of your investment.
Frequently Asked Questions
Are Dodge Durangos cheap to insure?
The average cost to insure a 2021 Durango with liability only coverage is $81 per month, while full coverage runs about $201 a month. If you're looking for the lowest possible 2021 Dodge Durango insurance policy, Aspire offered the lowest policy we found, with rates as little as $34 monthly.
How long do Dodge Durangos usually last?
200,000 to 250,000 miles
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 Durangos have good resale value?
A 2023 Dodge Durango has depreciated $18,159 or 41% in the last 2 years and has a current resale value of $25,426 and trade-in value of $21,944. The 2023 Dodge Durango is in the 75-100% percentile for depreciation among all 2023 SUVs.
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.
Do Dodge durangos keep their value?
A 2021 Dodge Durango has depreciated $15,588 or 39% in the last 3 years and has a current resale value of $24,117 and trade-in value of $21,326. The 2021 Dodge Durango is in the 25-75% percentile for depreciation among all 2021 SUVs.
Why did they stop making Dodge Durango?
As Stellantis started dropping options like the Dodge Charger and Challenger, interest in the Durango declined. It sold 69,195 sales in 2023 while the Chevrolet Tahoe sold 110,326 models. Instead of revamping the Durango to maintain its brawny image, Stellantis is going in a different direction with the brand.
What year to stay away from Dodge Durango?
The 1999 Dodge Durango is the worst year for a midsize SUV. Then come the 2004, 2000, 2005, and 2011 model years.
Which is better, a Dodge Durango or a Toyota Highlander?
With significantly higher towing capacity, better ground clearance, a longer wheelbase and a smaller turning radius, the Durango is the vehicle you want in more rugged situations like camping, towing, driving off road or in bad weather, In addition to several standard features not offered on the Toyota, the Dodge ...
Is Dodge Durango expensive to maintain?
The annual maintenance cost of a Dodge Durango is $675. Repair and maintenance costs vary depending on age, mileage, location and shop.
Do Dodge Durangos keep their value?
A 2021 Dodge Durango has depreciated $15,588 or 39% in the last 3 years and has a current resale value of $24,117 and trade-in value of $21,326. The 2021 Dodge Durango is in the 25-75% percentile for depreciation among all 2021 SUVs.
