Automobiles are a huge part of our lives, but one of the biggest knocks on a new car is that in as little as three years it’s worth far less than you initially paid.
However, there are some models that depreciate at a slower rate than the competition.
There are 22 individual vehicles that earned a “2016 Best Resale Value” award, but there are three from Toyota that appear in the top 10. The Tacoma (midsize pickup truck), 4Runner (midsize SUV/crossover) and Tundra (full-size pickup truck) placed first, second and sixth, respectively. As the highest-rated vehicle, the Tacoma makes it on the list with a 72.9 percent resale value after 36 months and 61.7 percent after 60 months.
Both Subaru and Lexus earned “Best Brand” and “Best Luxury Brand,” respectively, from Kelley Blue Book in its “2016 Best Resale Value” awards for its entire portfolio of vehicles, so you’re sure to find something you like. The awards highlight automakers that produce vehicles that best retain their value over the first five years of new vehicle ownership.
Another perennial favorite is the Jeep Wrangler (compact SUV/crossover). The Wrangler is available with some of the amenities that today’s consumers desire, but its core mission of ruggedness and versatility hasn’t changed since its ancestors from 50-plus years ago. An MSRP of under $24,000 makes the 36-month retained value of 64.3 percent (53.9 percent at 60 months) seem that much wiser a purchase decision.
Finally, for those looking for a sports car, the Chevrolet Camaro took the No. 8 overall spot, thanks in part to a complete redesign and a long history of excellence. A resale value of 61 percent at 36 months and 49 percent at 60 months puts the Camaro ahead of the Porsche Cayman and the Ford Mustang. The Camaro SS took the award in the high-performance car segment, ahead of the Ford Mustang GT and the Cadillac ATS-V. Chevrolet also earned the nod in the full-size SUV/crossover segment for the Tahoe, with a 53.7 percent resale value after 36 months and 42 percent after 60 months.
Regardless of which vehicle you choose, keep in mind that the right financing is just as important as the resale value of your vehicle. Stop by today and see what kind of financing we can get for you.