5 Cars with the Fastest Depreciation in 2026

We know this post is 4 months late, but writing about the top 5 fastest depreciating cars of 2026 had to take it’s time in the formation stage. This post is released in time to give you enough research timing of your own before the typical season for buying a new car starts, so you’re welcome! Now we will note, there should be no sense of panic if your car is mentioned on this list so not to worry, this is more for just general knowledge. And with that, let’s get into it! 

This list will exclusively be talking about the 2022 models for each of the cars listed. The ranges are as follows in terms of depreciation percentages: 

• Instant/ 1 Year: New cars often lose 10%-15% of their value immediately upon leaving the lot, and 20%-30% by the end of the first year 
• 3 Years: By the end of 3 years, many vehicles lose approximately 40%-50% of their original value 
• 5 Years: After 5 years, most cars have lost around 50%-60% of their original price

Coming in at number 1 on this list is the 2022 Tesla Model S. Based on the 2022 market when this vehicle was released, the average price one was expected to pay for a new Model S was around $135,000-176,600 CDN. Comparing those numbers to those of today, a used Model S would be going for anywhere between $50,000-$51,000 CDN. In 4 years the price of this car dropped $125,600 or by 71% (on the high end) and it’s only expected to keep going down from here. Now just as a background for those of you who don’t know much on this car, we have included a list below of some basic specs that are commonly looked for when researching a car: 

• Available in 2 trims – Long Range and Plaid 
• 405 mile range and 670 horsepower for the Long Range and 1020 horsepower, a 1.99 second 0-60 MPH time (quite impressive for an electric vehicle), and 200 MPH top speed for the Plaid trim model 
• Dual Motor (Long Range) and Tri Motor (Plaid) 
• Max charging: 250 kW 
• Interior: 17-inch center screen with 16 GB hard drive, rear screen for passengers, and yoke steering
• Safety/Tech: Standard Autopilot, adaptive suspension, wireless charging, and premium audio
• Performance: All wheel drive is standard across all models for 2022 

One of the most critical reasons this model is seeing such a rapid decline is due to the fact that Tesla has aggressively decided to cut their prices for new cars, thanks to rapid advancements in Electric Vehicle technology, and an influx of cars into the used-car market. 

Number 2 is another vehicle that is under the Tesla name brand. Once again it’s another of their 2022 cars – the Tesla Model Y. The pricing for a new car at the time was anywhere between $83,000-$90,000 and it’s important to note that 2022 marked one of the highest price years for this model. This was thanks to high demand and supply chain shortages. Also worth noting is there was a destination fee that consumers had to pay depending where in the world they resided and wanted to own one. This fee was approximately $1880 CAD. In comparison to the numbers and market of today, a used car would be selling for approximately $35,000-$40,000. Now, this pricing comparison is a little more reasonable and not as extreme as the car listed before, although it still is a difference of $50,000 or 55%. Basic specs of this car are listed below for reference: 

• Available in 2 trims – Long Range and Performance 
• 542 km EPA range for the Long Range version 
• Dual motor AWD 
• Charging: Both models support 250 kW maximum Supercharging 
• Interior/Tech: The minimalist interior features a central 15.4″ touchscreen and supports over-the-air updates
• Storage: The vehicle includes a front trunk (frunk) and 76.2 cubic feet of total cargo space
• Performance: The Performance model boasts 456 horsepower and a 0-60 mph time of 3.5 seconds

We have made it to the middle spot on this list, and to no one’s surprise, yes, it’s another Tesla. This time around it’s the 2022 Tesla X. One of these was going for anywhere between $123,600-$183,600 making it the most expensive vehicle on this list. When considering the market today, a used vehicle of this model would cost $72,000-$93,000 (depending on the trim and condition of course) which would mean this car saw a depreciation value of $90,600. Basic specs of this car are listed below for reference: 

• Available in 2 trims – Dual Motor (AWD) and Plaid  
• Approximately 330–350 miles 
• Charging: ~100 kWh battery, 250 kW Supercharging max
• Interior/Tech: Updated landscape center screen, rear screen, yoke steering, and optional 6-seat (captain’s chairs) or 7-seat configurations
• Storage: Maximum cargo capacity of approximately 91–95 cubic feet (with rear seats folded), including a 6.5 cu-ft front trunk (frunk); generous underfloor storage in the rear (in the 5-seat model)
• Performance (Base): 670 hp, Dual Motor AWD, 0-60 mph in 3.8 seconds (approximately)

Number 4 on the list is finally another brand although we aren’t sure if you’ll be too happy about this one – it’s the 2022 Lucid Air. Can we just talk about how exclusive this car is and how few there actually are on the road? We released a post linked here if you wanted to check out what we had to say about the 2026 Lucid Gravity after reading through this one. For 2022, the new and going price range for one of these was around $121,500-$244,500+ CAD. As of 2026, to buy a used version it would cost you $76,000-$99,000+ making it a difference of $145,500 in depreciation. Basic specs of this car are listed below for reference:  

• Available in 6 different trim options – Pure, Touring, Grand Touring, Dream Edition P, Dream Edition R, and Grand Touring P
• A single motor with 480 horsepower to motivate the rear wheels
• Battery Type and Charging Time: 112.0-kWh & Lithium Ion battery and 0.33 hours @ 120 volts; Supports rapid DC fast charging, adding 300 miles in 20-22 minutes
• Audio/Tech: 12 speaker surround sound with a 34.0 inch colour touchscreen 
• Storage: total cargo volume of approximately 32.1 cu. ft includes a massive front trunk (frunk) of roughly 10 cu. ft.(one of the largest in any electric car) and a rear trunk with over 16–22 cu. ft. of space, often featuring a deep lower well

We close out the list with another Tesla car and for this final feature it will be the 2022 Tesla Model 3 that will be talked about. The average price of a new car back in 2022 was between $59,990-$82,000 compared to today’s numbers for a used version of the same car at $20,000-$30,000 making it a difference of $52,000 on the high end. Basic specs of this car are listed below for reference: 

• Available in 3 different trim options – Rear-Wheel Drive (RWD), Long Range AWD, and Performance trims
• Battery Type:  
• Charging: Max 250 kW Supercharging; can add ~271–285 km in 15 minutes 
• Tech: 15.4-inch centre touchscreen, Tesla Autopilot (included), and optional Full Self-Driving
• Storage: A total cargo volume of approximately 24.1 cu ft (682 L), combining the rear trunk, deep under-floor rear storage, and front “frunk”

Final Thoughts

Since you made it to the end of this blog post, why not check out one we released a while ago on the difference between OEM and Aftermarket Parts linked here.