GMC Canyon Depreciation
A GMC Canyon will depreciate 30% after 5 years and have a 5 year resale value of $32,385.
The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $46,403 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the GMC Canyon.
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GMC Canyon Depreciation
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $2,176 | 95.31% | $44,227 | 12,000 | 2025 |
| 2 | $10,436 | 77.51% | $35,967 | 24,000 | 2026 |
| 3 | $10,668 | 77.01% | $35,735 | 36,000 | 2027 |
| 4 | $12,264 | 73.57% | $34,139 | 48,000 | 2028 |
| 5 | $14,018 | 69.79% | $32,385 | 60,000 | 2029 |
| 6 | $16,004 | 65.51% | $30,399 | 72,000 | 2030 |
| 7 | $19,304 | 58.40% | $27,099 | 84,000 | 2031 |
| 8 | $19,327 | 58.35% | $27,076 | 96,000 | 2032 |
| 9 | $19,935 | 57.04% | $26,468 | 108,000 | 2033 |
| 10 | $27,285 | 41.20% | $19,118 | 120,000 | 2034 |
GMC Canyon Depreciation
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $2,176 | 95.31% | $44,227 |
| 2 | $10,436 | 77.51% | $35,967 |
| 3 | $10,668 | 77.01% | $35,735 |
| 4 | $12,264 | 73.57% | $34,139 |
| 5 | $14,018 | 69.79% | $32,385 |
| 6 | $16,004 | 65.51% | $30,399 |
| 7 | $19,304 | 58.40% | $27,099 |
| 8 | $19,327 | 58.35% | $27,076 |
| 9 | $19,935 | 57.04% | $26,468 |
| 10 | $27,285 | 41.20% | $19,118 |
Buying a GMC Canyon New vs Used
If you purchase a used GMC Canyon that is 2 years old, then you could save $10,436 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $3,582. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Canyon models become available.
What About GMC Canyon Insurance Costs?
The average cost to insure a GMC Canyon is about $2,170 per year. This adds up to around $10,850 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a GMC Canyon. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure
The Best Model Years to Buy a GMC Canyon
The 2022 GMC Canyon is our top pick for the best model year value for the Canyon. With the 2022, you would only pay, on average, 78% of the price as new, with 83% of the vehicle's useful life remaining. The 2021 and 2023 model years are also attractive years for the Canyon, and provide a relatively good value. Our rankings consider multiple factors, including the Canyon's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the GMC Canyon models.
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GMC Canyon Historical Depreciation
| Year | New Price | Current Price | Maintenance | $ Decline | % Decline | % Paid | Value Rating |
|---|---|---|---|---|---|---|---|
| 2024 | $46,403 | $46,403 | $371 | $0 | 0% | 100% | |
| 2023 | $48,691 | $46,409 | $436 | +$6 | -0.01% | 95.31% | Better |
| 2022 | $45,975 | $35,635 | $540 | $10,774 | 23.22% | 77.51% | Best |
| 2021 | $44,580 | $34,333 | $706 | $1,302 | 3.65% | 77.01% | Better |
| 2020 | $40,979 | $30,148 | $843 | $4,185 | 12.19% | 73.57% | Good |
| 2019 | $40,888 | $28,537 | $1,059 | $1,611 | 5.34% | 69.79% | Good |
| 2018 | $40,313 | $26,410 | $1,227 | $2,127 | 7.45% | 65.51% | |
| 2017 | $40,006 | $23,362 | $1,291 | $3,048 | 11.54% | 58.4% | |
| 2016 | $35,436 | $20,676 | $1,335 | $2,686 | 11.5% | 58.35% | |
| 2015 | $34,515 | $19,686 | $1,393 | $990 | 4.79% | 57.04% | |
| 2012 | $29,446 | $12,873 | $1,741 | $6,813 | 34.61% | 43.72% |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2024 | $46,403 | 100% | |
| 2023 | $46,409 | 95.31% | Better |
| 2022 | $35,635 | 77.51% | Best |
| 2021 | $34,333 | 77.01% | Better |
| 2020 | $30,148 | 73.57% | Good |
| 2019 | $28,537 | 69.79% | Good |
| 2018 | $26,410 | 65.51% | |
| 2017 | $23,362 | 58.4% | |
| 2016 | $20,676 | 58.35% | |
| 2015 | $19,686 | 57.04% | |
| 2012 | $12,873 | 43.72% |
GMC Canyon Depreciation Rankings
We've ranked over 200 models from best to worst for Depreciation. See where the GMC Canyon ranks for Depreciation compared to other vehicles. Also check out how the Canyon stacks up in our rankings for Maintenance, Insurance and Overall Costs.
Other GMC Canyon Costs of Ownership
Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major GMC Canyon costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses:
