Hyundais typically hold their value pretty well over time, but some models will depreciate much more quickly than others, and there are a lot of factors to consider as well.

Factors like mileage and the maintenance schedule that you maintain for your vehicle can have a big effect on your car’s depreciation rate since these affect the value of your vehicle. If you drive your Hyundai a lot, for example, your car’s value might decrease more over time than if you just let your vehicle sit in your garage.

Wondering how much your Hyundai is worth?

Jerry

, the trusted

car insurance

broker app, is here to explain Hyundai depreciation rates. We’ll walk you through the meaning of depreciation, the depreciation rates for a few of the most popular Hyundai models on the market right now, and a few tips to limit your Hyundai’s depreciation rates. We’ll even show you some ways to save on your

Hyundai car insurance costs

Do Hyundais hold their value?

All things considered, Hyundais hold their value pretty well over time. However, the model of the Hyundai you own can drastically change the depreciation rate that you’ll see in the real world.

While some Hyundais—like the

Hyundai Santa Fe

— may depreciate as much as 45% to 65% within the first five years of ownership, others—like the

Hyundai Elantra

— may only depreciate by about 20%.

To put this in perspective: the average new vehicle depreciates by 40.1% in the first five years of ownership, so the majority of Hyundai vehicles depreciate at an average or below-average rate!

What does depreciation mean?

So, what exactly is depreciation? Depreciation refers to the difference between the original amount that you paid for your car and its current market value. Things that can affect your car’s depreciation include:

Original purchase price

Mileage

Ownership history

Condition

On average, new vehicles will depreciate by about 40% within the first five years of ownership, meaning your car will be worth about 40% less than you paid for it five years after your original purchase date. About 20% of that value is lost within the first year, with the remaining value lost in smaller increments over the following years.

However, there’s no way to accurately calculate exactly how much your vehicle will depreciate over time because there are so many contributing factors. For example, if you’re consistent with

regular maintenance

, your vehicle may depreciate more slowly. If you get into a car accident in your vehicle, however, you may see your car depreciate much more quickly.

Why care about depreciation? Depreciation is a huge part of car ownership costs, so it’s an important factor to consider when vehicle shopping. Together with insurance, maintenance costs, and repair costs, depreciation will determine how much it will cost you to own a particular vehicle. It’s also an important thing to think about when buying a used car since depreciation will help to determine the fair price of a pre-owned vehicle.

Do Hyundais depreciate faster than other affordable car brands?

Nope! Hyundais are fairly average in terms of their depreciation rates, and the company is actually in the top 10 for best depreciation rates in the U.S.

That’s not to say that there aren’t some vehicles out there that hold their value better, of course.

Hondas

, for example, are known for having good depreciation rates—the

Honda Civic

specifically has a five-year depreciation rate of just 15 to 20%.

If you’re willing to pay a little more for your car, though, you might be able to find a vehicle with even better depreciation rates.

Subarus

have some of the best depreciation rates of any vehicle around, with the average Subaru retaining 78.65% of its value over five years. That’s an average depreciation rate of just 21.35% for all Subaru vehicles!

MORE:

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Hyundai depreciation rates

To give you a better idea of how much your Hyundai could depreciate, let’s take a look at some of the most popular models and their average depreciation over one, three, and five-year periods.

Hyundai Elantra depreciation rates

Years old	Depreciation rate	Residual value
0	0%	$20,500
1	9.77%	$18,497
3	18.0%	$16,400
5	22.0%	$15,990

Hyundai Santa Fe depreciation rates

Years old	Depreciation rate	Residual value
0	0%	$27,200
1	6.27%	$26,582
3	21.83%	$21,262
5	43.30%	$15,422

Hyundai Palisade depreciation rates

Years old	Depreciation rate	Residual value
0	0%	$34,950
1	4.85%	$33,255
3	19.42%	$28,163
5	33.18%	$23,354

Hyundai Sonata depreciation rates

Years old	Depreciation rate	Residual value
0	0%	$24,950
1	4.98%	$23,707
3	14.66%	$21,292
5	34.87%	$16,250

Hyundai IONIQ Hybrid depreciation rates

Years old	Depreciation rate	Residual value
0	0%	$23,600
1	1.64%	$23,213
3	13.24%	$20,475
5	28.27%	$16,928

Hyundai Tucson depreciation rates

Years old	Depreciation rate	Residual value
0	0%	$24,950
1	12.66%	$21,791
3	17.0%	$20,709
5	23.06%	$19,197

Hyundai Accent depreciation rates

Years old	Depreciation rate	Residual value
0	0%	$16,645
1	8.46%	$15,237
3	19.0%	$13,482
5	23.0%	$12,817

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How to find out how much your Hyundai has depreciated

Determining how much your vehicle has depreciated can help you understand how much you would get if you trade in a financed vehicle. It can also be really handy when deciding how much insurance coverage you need to buy for your car. Luckily, determining your Hyundai’s depreciation is pretty easy!

To calculate this value, simply look up your vehicle’s fair market value. You can do this by checking a website like Kelley Blue Book or Edmunds, or you can talk to an expert to have your vehicle evaluated for a more exact number.

Once you have the fair market value of your vehicle ready, subtract it from your original purchase price. The resulting number will be the amount that your car has depreciated during the time you’ve owned it!

MORE:

Hyundai resale value

How to limit depreciation on your Hyundai

Now that you know a little more about depreciation, you may be wondering what you can do to reduce the amount of value your car will lose over time. Actually, there are a few ways to limit how much your vehicle will depreciate!

To ensure that your car retains as much value as possible, you’ll need to consider the following factors:

Storage: Protecting your vehicle from the elements (think rain, snow, and hail) can reduce your car’s depreciation rate by protecting its exterior from damage.

Mileage: If you don’t drive your car very often, it will retain more value due to the reduction in the amount of wear and tear your vehicle will experience over time.

Maintenance: This does mean things like

oil changes

that are probably already part of your maintenance routine, but cleaning and waxing your vehicle regularly can also help your car retain its value.

Color: Did you know that your car’s color can actually affect its resale value? White, black, and silver cars tend to fetch a better price on the used car market so, if you’re buying a vehicle with the resale value in mind, try to get a car in one of those colors.

MORE:

Are Hyundais expensive to maintain?

The importance of purchasing gap insurance for your Hyundai

When discussing vehicle depreciation, it’s also essential to consider

gap insurance

Remember, new cars depreciate much more quickly within the first year—while you’ll probably pay off your car loan at a much more steady rate. This means that there will temporarily be a difference between the actual value of your car and the amount that you owe for your vehicle. If you total your vehicle during this period, gap insurance is essential to protecting your wallet.

Gap insurance, or guaranteed asset protection coverage, is designed to protect you if you total your vehicle during this period.

Gap insurance covers the difference between what you owe on your loan and the

actual cash value (ACV) payout

(minus your collision deductible) from your insurance company if you get into an accident with your financed car. As such, this type of insurance will prevent you from losing money on your car if you total it before your loan catches up to your vehicle’s depreciation rate.

Gap insurance also protects you if your car gets stolen, totaled by a force of nature, or otherwise destroyed—that is, provided that you have

comprehensive coverage

MORE:

Do any companies offer standalone gap insurance?

How to save on Hyundai insurance costs

While depreciation is a big part of vehicle ownership costs, another important factor is insurance costs—including coverage like gap insurance. Fortunately, finding the best rates on the coverage you need for your Hyundai is really easy. Just use

Jerry

In just 45 seconds, this

trustworthy insurance comparison app

will perform a comprehensive cross-analysis of over 50 insurance providers to find the ones that suit your needs the best. Then, Jerry will present you with the top choices. If you see a quote you like, Jerry will even help you cancel your old policy and sign up for a new one.

The best part? The average user saves close to $900 every year.

“I wasn’t comfortable signing onto an otherwise cheap policy because the provider would track my miles, so
Jerry
found me a non-tracking policy with Clearcover for only $61/month! I think I made the right choice going with Clearcover. Thanks for helping my peace of mind, Jerry.” —Jorge C.

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