Kelley Blue Book Releases the Top 10 Resale Value Cars
Katie Harris
On November 26, just two days before the 2012 LA Auto Show, Kelley Blue Book released the Top 10 Resale Value Cars for 2013. This is an annual award given out to cars that have high resale value after the 60-month ownership period. Any cars that are over $60,000 and not in the luxury car or high performance segments are not considered for this award, along with low-volume vehicles.
As you can see from the list below the number one top resale value non-luxury brand is none other than the Japanese automaker Toyota. This is the second year in a row that they have won this prestigious award. Not only did they have four vehicles make it into the overall top 10 category they had a total of 16 vehicles win their respective segments.
- Honda Civic
- Honda CR-V
- Jeep Wrangler
- Lexus LX
- Porsche Cayenne
- Scion tC
- Toyota FJ Cruiser
- Toyota Land Cruiser
- Toyota Tacoma
- Toyota 4Runner
How is the Resale Value Determined?
The biggest factor in determining the resale value of a vehicle is depreciation. A car depreciates around 20% the second it is drove off the dealer’s lot, and every scratch, dent, and mile contributes to a lower depreciation value. The second factor that is looked at is what kind of demand there is for that car. If you buy a car that is in high demand and dealers can’t keep them on their lots you will have a higher resale value after five years then a car that dealers have hundreds of.
Along with the demand of a vehicle, Kelley Blue Book looks at the price of a car. As stated before if a car is over $60,000 and not in the high-performance or luxury segment it is not considered for the resale awards. Why? It’s simple. A car is usually worth about 35% of what you paid for it after 60 months. This means if a car is $60,000 it is only worth about $21,000. For that price you can get a brand new car. Sometimes buying a cheaper new car can have major benefits when trying to turn it in or selling it years later.
These are the things that need to be thought about before signing any papers for a new vehicle. You can use our new or used car search engines to help you decided which cars will have the greatest resale value while finding an affordable car near you
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