Hyundai Palisade Resale Value: Do They Hold Their Value? What To Know
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The Hyundai Palisade is highly regarded as a luxurious and technologically advanced 3-row SUV. Thanks to its excellent safety tech and ratings, it quickly became a top choice for families. The interior is spacious and comfortable, with features like dual-zone and second-row automatic climate controls in higher trims. More importantly, the Palisade stands out in its highly competitive segment for offering exceptional value, even as its price has slightly increased since its introduction.
With that said, does the Hyundai Palisade retain its value well over time?
The Palisade’s biggest strength has always been its top-notch value proposition. But being a newer Hyundai model, many folks wonder if it can hold its resale value. So today, we delve into the Hyundai Palisade resale value, how well it has its value after many years, and how it stacks up against its segment rivals.
Hyundai Palisade Resale Value
For this section, we’ll take a look at several reputable sources that will help us gauge the Palisade’s resale value. With that said, according to iSeeCars, the Hyundai Palisade has a moderate resale value, retaining about 51.79% of its original value after five years. This performance places it in a respectable position within Hyundai’s range of models, though it doesn’t top the list.
In Hyundai’s wide range of cars, the Palisade’s resale value is pretty middle of the pack. This means it loses its value steadily and reasonably over time. This is a crucial point to consider for people thinking about how the car they buy will affect their wallet in the long run.
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On the other hand, CarEdge has provided its own analysis of the Hyundai Palisade resale value and depreciation rate. The website says the Palisade is expected to lose 33% of its value over five years, resulting in a resale value of $31,580. This estimation assumes that the vehicle is well-maintained and driven an average of 12,000 miles per year, starting from an initial purchase price of $47,261.
CarEdge suggests that purchasing a used Hyundai Palisade that is two years old is the move. This can save you approximately $6,843 compared to buying a brand-new one. Doing so allows you to get a reasonably recent model with all the latest features without spending as much money. This deal makes the Palisade an attractive option for those who want a modern SUV but want to avoid paying the full price of a new one.
In summary, the Hyundai Palisade’s resale value based on these findings suggests a vehicle that strikes a balance between initial cost, feature richness, and value retention over a five-year period.
Used Hyundai Palisade Buyer’s Guide (Powered by CoPilot Price Pulse Tool)
This section focuses on the performance of the Hyundai Palisade in the used car market. We utilized our Price Pulse Tool to gain valuable insights about the resale value of the Palisade. For this analysis, we will use the 2020 Palisade as an example. Here are some interesting findings that we discovered:
- Depreciation Trend: The 2020 Hyundai Palisade has shown an apparent depreciation in value over the months, with its market price decreasing from around $39,000 in January to $33,000 by November.
- Comparison to Newer Models: The 2020 model has a lower resale value compared to the 2021 and 2022 models. The latter two are listed with known price premiums, indicating that they are either more in demand or have features that better retain their value.
- Market Position: No price premium is indicated for the 2020 Hyundai Palisade, which sets it apart from the 2022 model, which has a significant premium. This could reflect lesser consumer interest or a higher initial selling price that has not been sustained in the resale market.
- Market Dynamics: The varying price premiums and current market prices among different years and models of the Hyundai Palisade and its competitors may be influenced by factors such as technological updates, changes in consumer preferences, and overall market trends in the automotive industry.
- Value Retention: The lack of a price premium and the downward trend in the market price for the 2020 Hyundai Palisade could suggest that this model is not retaining its value as well as some of its competitors.
When evaluating the 2020 Hyundai Palisade’s worth, we should consider its aging against newer, feature-rich models and its rank among similar cars from other brands. It’s more than just its price decline; it’s about its market desirability. Understanding these aspects should give you a clearer view of its market position.
Plus, the Palisade is a relatively new model that debuted in 2020, so data about its 3, 5, or 7-year depreciation is limited.
THE HYUNDAI PALISADE YEARS TO AVOID
To get the most out of your investment and avoid spending tons on repairs, it’s ideal to know the Hyundai Palisade years to avoid.
Hyundai Palisade Resale Value VS Competitors
The Palisade competes in a highly saturated market, so how does its resale value compare against its closest rivals?
- Nissan Murano: Often praised for its comfortable interior and smooth ride, it holds its value reasonably well. The resale value typically reflects its reputation for reliability and consumer satisfaction. It has a very similar depreciation rate as the Palisade.
- Ford Explorer: As a long-established model with a solid following, the Ford Explorer tends to have a stable resale value. Its versatility and roomy interior make it a popular choice for families, which helps it retain value. With a 46% depreciation rate over five years, it holds its value better than the Palisade.
- Honda Pilot: Known for its spaciousness and reliability, the Honda Pilot maintains a robust resale value. It’s often a top pick for those looking for a durable family SUV, which helps it keep its value over time. With an approximately 47% depreciation rate over five years, it has a better resale value than the Palisade.
- Kia Telluride: The five-year expected resale value is about $30,347 from a new price of $46,366. The Telluride won the 2021 KBB Best Resale Value Award, which can only point to strong value retention.
These insights tell us that while the Hyundai Palisade is a competitive option, models like the Kia Telluride, Pilot, and Explorer may offer better value retention for buyers considering long-term ownership.
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