When most consumers buy a new automobile, they take several factors into account when choosing their vehicle, including safety, performance, insurance premiums, and reliability. One factor many fail to consider is the resale value of the vehicle.
The average new vehicle loses thousands of dollars in value the minute you drive it off the lot. According to CarFax, most vehicles lose 10 percent of their value after leaving the car dealership, and an additional 10 percent in their first year of use. Some vehicles take as much as a 50 percent hit.
Many auto owners are flabbergasted when they go to trade in their gently used vehicles, finding out that they will only get a fraction of the value they thought they would. For car consumers seeking vehicles with strong resale value, consider these automobiles:
- Toyota Tacoma – Toyota automobiles typically have a strong resale value, thanks to the brand’s excellent reputation. The Tacoma, a midsize pickup, is one of the best automobiles in terms of retaining value. Kelley Blue Book estimates the Tacoma will retain 71.8 percent of its value three years after it is sold, and 58.4 percent five years into your ownership.
- Subaru WRX – The Subaru WRK isn’t a best-seller, but it is beloved by a passionate fanbase. The WRX, a compact sedan, comes in a variety of configurations, including souped-up versions that offer greater performance. The WRK retains 55.2 percent of its value after three years and 45.4 percent after five years.
- Toyota Tundra – Another entry from Toyota, the Tundra is a full-size pickup truck. The Tundra is well-regarded for its wide range of standard features and its reputation as a reliable workhorse. The Tundra retains about 60.7 percent of its value after three years, and 49 percent of its value after five years.
- Jeep Wrangler – Another vehicle with a loyal fanbase, the Wrangler is the premier off-roading vehicle in America. The Wrangler has a unique style that its fans adore, and it also has a robust aftermarket line of products for drivers who like to customize. The Wrangler is a good investment—it retains 63.7 percent of its value after three years and 51.1 percent after five years.
- Toyota 4Runner – Toyota SUVs also dominate resale value for SUVs. The 4Runner, a mid-size SUV, offers excellent towing capacity and off-roading ability. The 4Runner is one of the few remaining SUV brands built on a truck base. The vehicle retains 64.3 percent of its value after three years and 54.5 percent of its value after five years.
- Chevy Silverado – Although the Silverado is the second-best selling truck in the U.S., it outmatches its rival the Ford F-150 in resale value. The Silverado has an excellent reputation as a capable truck and offers lots of great tech features and creature comforts. The Silverado retains 61.8 percent of its resale value at three years, and 52.2 percent of its resale value at five years.
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