diff --git a/src/Microsoft.AspNet.Mvc.Core/Formatters/InputFormatter.cs b/src/Microsoft.AspNet.Mvc.Core/Formatters/InputFormatter.cs
index 9962de7a39..769bad4837 100644
--- a/src/Microsoft.AspNet.Mvc.Core/Formatters/InputFormatter.cs
+++ b/src/Microsoft.AspNet.Mvc.Core/Formatters/InputFormatter.cs
@@ -43,6 +43,11 @@ namespace Microsoft.AspNet.Mvc
         /// <inheritdoc />
         public virtual bool CanRead(InputFormatterContext context)
         {
+            if (!CanReadType(context.ModelType))
+            {
+                return false;
+            }
+
             var contentType = context.ActionContext.HttpContext.Request.ContentType;
             MediaTypeHeaderValue requestContentType;
             if (!MediaTypeHeaderValue.TryParse(contentType, out requestContentType))
@@ -54,6 +59,16 @@ namespace Microsoft.AspNet.Mvc
                             .Any(supportedMediaType => supportedMediaType.IsSubsetOf(requestContentType));
         }
 
+        /// <summary>
+        /// Returns a value indicating whether or not the given type can be read by this serializer.
+        /// </summary>
+        /// <param name="type">The type of object that will be read.</param>
+        /// <returns><c>true</c> if the type can be read, otherwise <c>false</c>.</returns>
+        protected virtual bool CanReadType(Type type)
+        {
+            return true;
+        }
+
         /// <inheritdoc />
         public virtual async Task<object> ReadAsync(InputFormatterContext context)
         {
diff --git a/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerInputFormatter.cs b/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerInputFormatter.cs
index 810fdabec5..62c4689336 100644
--- a/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerInputFormatter.cs
+++ b/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerInputFormatter.cs
@@ -2,6 +2,7 @@
 // Licensed under the Apache License, Version 2.0. See License.txt in the project root for license information.
 
 using System;
+using System.Collections.Concurrent;
 using System.Collections.Generic;
 using System.IO;
 using System.Runtime.Serialization;
@@ -19,6 +20,7 @@ namespace Microsoft.AspNet.Mvc.Xml
     public class XmlDataContractSerializerInputFormatter : InputFormatter
     {
         private DataContractSerializerSettings _serializerSettings;
+        private ConcurrentDictionary<Type, object> _serializerCache = new ConcurrentDictionary<Type, object>();
         private readonly XmlDictionaryReaderQuotas _readerQuotas = FormattingUtilities.GetDefaultXmlReaderQuotas();
 
         /// <summary>
@@ -93,7 +95,7 @@ namespace Microsoft.AspNet.Mvc.Xml
             {
                 var type = GetSerializableType(context.ModelType);
 
-                var serializer = CreateSerializer(type);
+                var serializer = GetCachedSerializer(type);
 
                 var deserializedObject = serializer.ReadObject(xmlReader);
 
@@ -111,6 +113,12 @@ namespace Microsoft.AspNet.Mvc.Xml
             }
         }
 
+        /// <inheritdoc />
+        protected override bool CanReadType([NotNull] Type type)
+        {
+            return GetCachedSerializer(GetSerializableType(type)) != null;
+        }
+
         /// <summary>
         /// Called during deserialization to get the <see cref="XmlReader"/>.
         /// </summary>
@@ -142,7 +150,36 @@ namespace Microsoft.AspNet.Mvc.Xml
         /// <returns>The <see cref="DataContractSerializer"/> used during deserialization.</returns>
         protected virtual DataContractSerializer CreateSerializer([NotNull] Type type)
         {
-            return new DataContractSerializer(type, _serializerSettings);
+            try
+            {
+                // If the serializer does not support this type it will throw an exception.
+                return new DataContractSerializer(type, _serializerSettings);
+            }
+            catch (Exception)
+            {
+                // We do not surface the caught exception because if CanRead returns
+                // false, then this Formatter is not picked up at all.
+                return null;
+            }
+        }
+
+        /// <summary>
+        /// Gets the cached serializer or creates and caches the serializer for the given type.
+        /// </summary>
+        /// <returns>The <see cref="DataContractSerializer"/> instance.</returns>
+        protected virtual DataContractSerializer GetCachedSerializer(Type type)
+        {
+            object serializer;
+            if (!_serializerCache.TryGetValue(type, out serializer))
+            {
+                serializer = CreateSerializer(type);
+                if (serializer != null)
+                {
+                    _serializerCache.TryAdd(type, serializer);
+                }
+            }
+
+            return (DataContractSerializer)serializer;
         }
     }
 }
\ No newline at end of file
diff --git a/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerOutputFormatter.cs b/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerOutputFormatter.cs
index 285d8416d5..51dad77720 100644
--- a/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerOutputFormatter.cs
+++ b/src/Microsoft.AspNet.Mvc.Xml/XmlDataContractSerializerOutputFormatter.cs
@@ -2,6 +2,7 @@
 // Licensed under the Apache License, Version 2.0. See License.txt in the project root for license information.
 
 using System;
+using System.Collections.Concurrent;
 using System.Collections.Generic;
 using System.IO;
 using System.Runtime.Serialization;
@@ -19,6 +20,7 @@ namespace Microsoft.AspNet.Mvc.Xml
     public class XmlDataContractSerializerOutputFormatter : OutputFormatter
     {
         private DataContractSerializerSettings _serializerSettings;
+        private ConcurrentDictionary<Type, object> _serializerCache = new ConcurrentDictionary<Type, object>();
 
         /// <summary>
         /// Initializes a new instance of <see cref="XmlDataContractSerializerOutputFormatter"/>
@@ -115,8 +117,12 @@ namespace Microsoft.AspNet.Mvc.Xml
         protected override bool CanWriteType(Type declaredType, Type runtimeType)
         {
             var type = ResolveType(declaredType, runtimeType);
+            if (type == null)
+            {
+                return false;
+            }
 
-            return CreateSerializer(GetSerializableType(type)) != null;
+            return GetCachedSerializer(GetSerializableType(type)) != null;
         }
 
         /// <summary>
@@ -183,11 +189,30 @@ namespace Microsoft.AspNet.Mvc.Xml
                     obj = wrapperProvider.Wrap(obj);
                 }
 
-                var dataContractSerializer = CreateSerializer(wrappingType);
+                var dataContractSerializer = GetCachedSerializer(wrappingType);
                 dataContractSerializer.WriteObject(xmlWriter, obj);
             }
 
             return Task.FromResult(true);
         }
+
+        /// <summary>
+        /// Gets the cached serializer or creates and caches the serializer for the given type.
+        /// </summary>
+        /// <returns>The <see cref="DataContractSerializer"/> instance.</returns>
+        protected virtual DataContractSerializer GetCachedSerializer(Type type)
+        {
+            object serializer;
+            if (!_serializerCache.TryGetValue(type, out serializer))
+            {
+                serializer = CreateSerializer(type);
+                if (serializer != null)
+                {
+                    _serializerCache.TryAdd(type, serializer);
+                }
+            }
+
+            return (DataContractSerializer)serializer;
+        }
     }
 }
diff --git a/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerInputFormatter.cs b/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerInputFormatter.cs
index bc661b4f91..e8c34b0587 100644
--- a/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerInputFormatter.cs
+++ b/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerInputFormatter.cs
@@ -2,6 +2,7 @@
 // Licensed under the Apache License, Version 2.0. See License.txt in the project root for license information.
 
 using System;
+using System.Collections.Concurrent;
 using System.Collections.Generic;
 using System.IO;
 using System.Threading.Tasks;
@@ -18,6 +19,7 @@ namespace Microsoft.AspNet.Mvc.Xml
     /// </summary>
     public class XmlSerializerInputFormatter : InputFormatter
     {
+        private ConcurrentDictionary<Type, object> _serializerCache = new ConcurrentDictionary<Type, object>();
         private readonly XmlDictionaryReaderQuotas _readerQuotas = FormattingUtilities.GetDefaultXmlReaderQuotas();
 
         /// <summary>
@@ -72,7 +74,7 @@ namespace Microsoft.AspNet.Mvc.Xml
             {
                 var type = GetSerializableType(context.ModelType);
 
-                var serializer = CreateSerializer(type);
+                var serializer = GetCachedSerializer(type);
 
                 var deserializedObject = serializer.Deserialize(xmlReader);
 
@@ -90,6 +92,12 @@ namespace Microsoft.AspNet.Mvc.Xml
             }
         }
 
+        /// <inheritdoc />
+        protected override bool CanReadType([NotNull] Type type)
+        {
+            return GetCachedSerializer(GetSerializableType(type)) != null;
+        }
+
         /// <summary>
         /// Gets the type to which the XML will be deserialized.
         /// </summary>
@@ -120,7 +128,36 @@ namespace Microsoft.AspNet.Mvc.Xml
         /// <returns>The <see cref="XmlSerializer"/> used during deserialization.</returns>
         protected virtual XmlSerializer CreateSerializer(Type type)
         {
-            return new XmlSerializer(type);
+            try
+            {
+                // If the serializer does not support this type it will throw an exception.
+                return new XmlSerializer(type);
+            }
+            catch (Exception)
+            {
+                // We do not surface the caught exception because if CanRead returns
+                // false, then this Formatter is not picked up at all.
+                return null;
+            }
+        }
+
+        /// <summary>
+        /// Gets the cached serializer or creates and caches the serializer for the given type.
+        /// </summary>
+        /// <returns>The <see cref="XmlSerializer"/> instance.</returns>
+        protected virtual XmlSerializer GetCachedSerializer(Type type)
+        {
+            object serializer;
+            if (!_serializerCache.TryGetValue(type, out serializer))
+            {
+                serializer = CreateSerializer(type);
+                if (serializer != null)
+                {
+                    _serializerCache.TryAdd(type, serializer);
+                }
+            }
+
+            return (XmlSerializer) serializer;
         }
     }
 }
\ No newline at end of file
diff --git a/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerOutputFormatter.cs b/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerOutputFormatter.cs
index d485d268f9..db7423ec13 100644
--- a/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerOutputFormatter.cs
+++ b/src/Microsoft.AspNet.Mvc.Xml/XmlSerializerOutputFormatter.cs
@@ -2,6 +2,7 @@
 // Licensed under the Apache License, Version 2.0. See License.txt in the project root for license information.
 
 using System;
+using System.Collections.Concurrent;
 using System.Collections.Generic;
 using System.IO;
 using System.Threading.Tasks;
@@ -18,6 +19,8 @@ namespace Microsoft.AspNet.Mvc.Xml
     /// </summary>
     public class XmlSerializerOutputFormatter : OutputFormatter
     {
+        private ConcurrentDictionary<Type, object> _serializerCache = new ConcurrentDictionary<Type, object>();
+
         /// <summary>
         /// Initializes a new instance of <see cref="XmlSerializerOutputFormatter"/>
         /// with default XmlWriterSettings.
@@ -93,8 +96,12 @@ namespace Microsoft.AspNet.Mvc.Xml
         protected override bool CanWriteType(Type declaredType, Type runtimeType)
         {
             var type = ResolveType(declaredType, runtimeType);
+            if (type == null)
+            {
+                return false;
+            }
 
-            return CreateSerializer(GetSerializableType(type)) != null;
+            return GetCachedSerializer(GetSerializableType(type)) != null;
         }
 
         /// <summary>
@@ -159,11 +166,30 @@ namespace Microsoft.AspNet.Mvc.Xml
                     obj = wrapperProvider.Wrap(obj);
                 }
 
-                var xmlSerializer = CreateSerializer(wrappingType);
+                var xmlSerializer = GetCachedSerializer(wrappingType);
                 xmlSerializer.Serialize(xmlWriter, obj);
             }
 
             return Task.FromResult(true);
         }
+
+        /// <summary>
+        /// Gets the cached serializer or creates and caches the serializer for the given type.
+        /// </summary>
+        /// <returns>The <see cref="XmlSerializer"/> instance.</returns>
+        protected virtual XmlSerializer GetCachedSerializer(Type type)
+        {
+            object serializer;
+            if (!_serializerCache.TryGetValue(type, out serializer))
+            {
+                serializer = CreateSerializer(type);
+                if (serializer != null)
+                {
+                    _serializerCache.TryAdd(type, serializer);
+                }
+            }
+
+            return (XmlSerializer)serializer;
+        }
     }
 }
\ No newline at end of file
diff --git a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerInputFormatterTest.cs b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerInputFormatterTest.cs
index 0785d58fe4..8f09180515 100644
--- a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerInputFormatterTest.cs
+++ b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerInputFormatterTest.cs
@@ -10,7 +10,6 @@ using System.Threading.Tasks;
 using System.Xml;
 using Microsoft.AspNet.Http;
 using Microsoft.AspNet.Mvc.ModelBinding;
-using Microsoft.AspNet.Mvc.Xml;
 using Microsoft.AspNet.Testing;
 using Moq;
 using Xunit;
@@ -79,6 +78,24 @@ namespace Microsoft.AspNet.Mvc.Xml
             Assert.Equal(expectedCanRead, result);
         }
 
+        [Fact]
+        public void XmlDataContractSerializer_CachesSerializerForType()
+        {
+            // Arrange
+            var input = "<?xml version=\"1.0\" encoding=\"UTF-8\"?>" +
+                "<DummyClass><SampleInt>10</SampleInt></DummyClass>";
+            var formatter = new TestXmlDataContractSerializerInputFormatter();
+            var contentBytes = Encoding.UTF8.GetBytes(input);
+            var context = GetInputFormatterContext(contentBytes, typeof(DummyClass));
+
+            // Act
+            formatter.CanRead(context);
+            formatter.CanRead(context);
+
+            // Assert
+            Assert.Equal(1, formatter.createSerializerCalledCount);
+        }
+
         [Fact]
         public void HasProperSuppportedMediaTypes()
         {
@@ -485,5 +502,16 @@ namespace Microsoft.AspNet.Mvc.Xml
             httpContext.SetupGet(c => c.Request).Returns(request.Object);
             return httpContext.Object;
         }
+
+        private class TestXmlDataContractSerializerInputFormatter : XmlDataContractSerializerInputFormatter
+        {
+            public int createSerializerCalledCount = 0;
+
+            protected override DataContractSerializer CreateSerializer(Type type)
+            {
+                createSerializerCalledCount++;
+                return base.CreateSerializer(type);
+            }
+        }
     }
 }
\ No newline at end of file
diff --git a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerOutputFormatterTest.cs b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerOutputFormatterTest.cs
index 95915ac472..111cd544f6 100644
--- a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerOutputFormatterTest.cs
+++ b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlDataContractSerializerOutputFormatterTest.cs
@@ -111,6 +111,22 @@ namespace Microsoft.AspNet.Mvc.Xml
             Assert.True(outputFormatterContext.ActionContext.HttpContext.Response.Body.CanRead);
         }
 
+        [Fact]
+        public void XmlDataContractSerializer_CachesSerializerForType()
+        {
+            // Arrange
+            var input = new DummyClass { SampleInt = 10 };
+            var formatter = new TestXmlDataContractSerializerOutputFormatter();
+            var context = GetOutputFormatterContext(input, typeof(DummyClass));
+
+            // Act
+            formatter.CanWriteResult(context, MediaTypeHeaderValue.Parse("application/xml"));
+            formatter.CanWriteResult(context, MediaTypeHeaderValue.Parse("application/xml"));
+
+            // Assert
+            Assert.Equal(1, formatter.createSerializerCalledCount);
+        }
+
         [Fact]
         public void DefaultConstructor_ExpectedWriterSettings_Created()
         {
@@ -552,5 +568,16 @@ namespace Microsoft.AspNet.Mvc.Xml
             httpContext.SetupGet(c => c.Response).Returns(response.Object);
             return new ActionContext(httpContext.Object, routeData: null, actionDescriptor: null);
         }
+
+        private class TestXmlDataContractSerializerOutputFormatter : XmlDataContractSerializerOutputFormatter
+        {
+            public int createSerializerCalledCount = 0;
+
+            protected override DataContractSerializer CreateSerializer(Type type)
+            {
+                createSerializerCalledCount++;
+                return base.CreateSerializer(type);
+            }
+        }
     }
 }
\ No newline at end of file
diff --git a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerInputFormatterTest.cs b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerInputFormatterTest.cs
index 4f1dab7dc2..1e8103b3b0 100644
--- a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerInputFormatterTest.cs
+++ b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerInputFormatterTest.cs
@@ -3,11 +3,13 @@
 
 #if ASPNET50
 using System;
+using System.Collections.Generic;
 using System.IO;
 using System.Linq;
 using System.Text;
 using System.Threading.Tasks;
 using System.Xml;
+using System.Xml.Serialization;
 using Microsoft.AspNet.Http;
 using Microsoft.AspNet.Mvc.ModelBinding;
 using Microsoft.AspNet.Mvc.Xml;
@@ -64,6 +66,42 @@ namespace Microsoft.AspNet.Mvc.Xml
             Assert.Equal(expectedCanRead, result);
         }
 
+        [Theory]
+        [InlineData(typeof(Dictionary<string, object>), false)]
+        [InlineData(typeof(string), true)]
+        public void CanRead_ReturnsFalse_ForAnyUnsupportedModelType(Type modelType, bool expectedCanRead)
+        {
+            // Arrange
+            var formatter = new XmlSerializerInputFormatter();
+            var contentBytes = Encoding.UTF8.GetBytes("content");
+
+            var context = GetInputFormatterContext(contentBytes, modelType);
+
+            // Act
+            var result = formatter.CanRead(context);
+
+            // Assert
+            Assert.Equal(expectedCanRead, result);
+        }
+
+        [Fact]
+        public void XmlSerializer_CachesSerializerForType()
+        {
+            // Arrange
+            var input = "<?xml version=\"1.0\" encoding=\"UTF-8\"?>" +
+                "<DummyClass><SampleInt>10</SampleInt></DummyClass>";
+            var formatter = new TestXmlSerializerInputFormatter();
+            var contentBytes = Encoding.UTF8.GetBytes(input);
+            var context = GetInputFormatterContext(contentBytes, typeof(DummyClass));
+
+            // Act
+            formatter.CanRead(context);
+            formatter.CanRead(context);
+
+            // Assert
+            Assert.Equal(1, formatter.createSerializerCalledCount);
+        }
+
         [Fact]
         public void HasProperSuppportedMediaTypes()
         {
@@ -374,6 +412,17 @@ namespace Microsoft.AspNet.Mvc.Xml
             httpContext.SetupGet(c => c.Request).Returns(request.Object);
             return httpContext.Object;
         }
+
+        private class TestXmlSerializerInputFormatter : XmlSerializerInputFormatter
+        {
+            public int createSerializerCalledCount = 0;
+
+            protected override XmlSerializer CreateSerializer(Type type)
+            {
+                createSerializerCalledCount++;
+                return base.CreateSerializer(type);
+            }
+        }
     }
 }
 #endif
diff --git a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerOutputFormatterTest.cs b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerOutputFormatterTest.cs
index 4ba727cd2d..634c7d2940 100644
--- a/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerOutputFormatterTest.cs
+++ b/test/Microsoft.AspNet.Mvc.Xml.Test/XmlSerializerOutputFormatterTest.cs
@@ -13,6 +13,7 @@ using Microsoft.Net.Http.Headers;
 using Microsoft.AspNet.Mvc.Xml;
 using Moq;
 using Xunit;
+using System.Xml.Serialization;
 
 namespace Microsoft.AspNet.Mvc.Xml
 {
@@ -68,6 +69,22 @@ namespace Microsoft.AspNet.Mvc.Xml
             Assert.True(outputFormatterContext.ActionContext.HttpContext.Response.Body.CanRead);
         }
 
+        [Fact]
+        public void XmlSerializer_CachesSerializerForType()
+        {
+            // Arrange
+            var input = new DummyClass { SampleInt = 10 };
+            var formatter = new TestXmlSerializerOutputFormatter();
+            var context = GetOutputFormatterContext(input, typeof(DummyClass));
+
+            // Act
+            formatter.CanWriteResult(context, MediaTypeHeaderValue.Parse("application/xml"));
+            formatter.CanWriteResult(context, MediaTypeHeaderValue.Parse("application/xml"));
+
+            // Assert
+            Assert.Equal(1, formatter.createSerializerCalledCount);
+        }
+
         [Fact]
         public void DefaultConstructor_ExpectedWriterSettings_Created()
         {
@@ -355,5 +372,16 @@ namespace Microsoft.AspNet.Mvc.Xml
             httpContext.SetupGet(c => c.Response).Returns(response.Object);
             return new ActionContext(httpContext.Object, routeData: null, actionDescriptor: null);
         }
+
+        private class TestXmlSerializerOutputFormatter : XmlSerializerOutputFormatter
+        {
+            public int createSerializerCalledCount = 0;
+
+            protected override XmlSerializer CreateSerializer(Type type)
+            {
+                createSerializerCalledCount++;
+                return base.CreateSerializer(type);
+            }
+        }
     }
 }
\ No newline at end of file