Best Resale Value Cars
When owning a car, there are different expenses you need to consider, such as maintenance and insurance. However, it's a car's depreciation that's usually the biggest long-term expense, which is why if you want to eventually trade in your automobile, you'll want to start with a vehicle that holds onto its value more than the average car.
For 2018, the average model will retain about 1/3 of its original value after five years. However, there are several models that'll hold onto about half of the original sticker price after that timeframe.
We'll tell you more about what the best resale value cars for 2018 are. Read through our informative guide and contact us at FreeVehicleValues.com if you have any questions.
Which Cars Have the Best Resale Value?
Trucks and SUVs tend to have the best resale value. In this top 10 list from Kelley Blue Book®, all but one is a truck or SUV.
The best resale value vehicles are as follows:
- Toyota Tacoma
- Toyota Tundra
- Toyota 4Runner
- Jeep Wrangler
- GMC Sierra
- Chevrolet Silverado
- Ford F-150
- Chevrolet Colorado
- Honda Ridgeline
- Subaru WRX
While the category seems to be dominated by the larger automobiles, there are other sedans that hold onto its value well. They include the Honda Accord, Subaru Impreza, and Lexus GS.
How Resale Value Is Determined
There are several elements that go into determining resale value. These include economic factors and historical data and can vary from one part of the country to another.
For instance, trucks and 4-wheel drive cars usually have a higher resale value in colder parts of the country. On the flip side, a convertible will have a better resale value in Southern California than it would in Montana.
Additionally, if a car has special features, like a sunroof or leather seats, that can increase resale value.
The current economy can also play a factor in determining a vehicle's resale value. Let's say the economy is down and gas prices are high. For an SUV, the value won't be as good compared to if gas prices were low.
A final factor is basic supply and demand. If a particular model has a low production number, then the demand will be higher. Likewise, many drivers will want a car from a brand that's widely recognized for being reliable.
Importance of Knowing a Car's Resale Value
When you're shopping for a new vehicle, you'll want to keep its resale value in the back of your mind. After all, monthly payments are mainly based on the difference between two things: a car's transaction price and its predicted worth at the end of a loan term with a set interest rate.
Therefore, selecting a car with a good resale value will often save you more money in the long run than big rebates or other incentives.
Contact Us for More Information
If you're interested in learning more about the best resale value cars, then contact us at FreeVehicleValues.com. We'll also help you when the time comes to sell or trade in your own car.
So, don't wait. Contact us today to get started!