Kelley Blue Book (KBB) has unveiled the list that features the best cars according to their resale value. The company which is based in Irvine, California, makes vehicle valuation and automotive research that is recognized worldwide by both consumers and the automotive industry, reads their official webpage.
On Wednesday they highlighted the results from the Best Resale Value Awards that are part of 2016 Kelley Blue Book, the cars that can obtain the best resale values after maintaining a certain amount of time in the market form the list.
The company pointed out that trucks are the leaders of the great resale value top. Another interesting point they remarked is that Americans are now buying tall vehicles like pickups and SUVs instead of traditional cars. This might be a result of the decrease of gasoline prices since oil is getting a price drop around the world.
According to the online publication of the Awards, people should care about resale value. They describe it as a part of personal finances since at some point customers are going to sell their vehicles, and the consequences of the transaction can vary from a big win to a tragic loss. Thousands of dollars could be won or could be lost.
“Unless you drive your vehicle until the wheels fall off and it becomes a moldering pile of parts smoking in the middle of the road, the ultimate resale value of your ride has a very direct and important effect on your transportation costs. Just as your mother once advised you to be thoughtful in the selection of your friends, so it is with the choice of a new vehicle” Kelley Blue Book wrote in the online publication of the awards.
As reported by the researcher company, the 2016 Best Resale Value Awards are ranked according to what they consider the best research and analysis in the industry. Official vehicle data, sales data, market conditions for each vehicle, competition within vehicle segments, expectations of the future economy and the experience of the brand’s team are all part of the evaluation process to create the list.
The top 5 models
KBB stressed that this year the list is commanded by trucks and SUVs. Also, seven models that featured the list the previous year are part of the ranking in 2016. The results of the research would appear to show that the main characters of this top are going to maintain an average of almost 55 percent of their original prices even after five years of ownership.
Among the brands that obtained the best resale values are General Motors, with four models of the top 10 vehicles; Subaru, with four awards in the 22 categories Kelley created and Toyota’s Lexus, which is the brand that has the best value in the segment of luxury brands, CBS News wrote.
“While both Subaru and Lexus deliver incredible resale value, we continue to be impressed with General Motors, which tops domestic automakers with seven combined awards for Chevrolet and GMC and places four of its vehicles in our Top 10,” says Eric Ibara, director of resale values for Kelley Blue Book.
It seems that the average 2016 vehicle will maintain a price of 35 percent of its original value after 5 years of usage, Kelly stated. In other words, a car that costs $30,000 in 2015 will have its price reduced to just $10,500 by 2020. That being said the cars that are featured in the Blue Book are supposed to retain from 47 to 62 percent of their original value.
2016 Toyota Tacoma
This model was fully redesigned for 2016. Its value after 36 months of ownership is estimated to be around 72,9 percent of its original price. After 60 months the price would reduce just to 61.7 percent, according to Kelly.
2016 Toyota 4Runner
Kelly said this model has few competitors in the market and that’s what makes it valuable. Its value after 36 months of ownership is estimated to be around 66,7 percent of its original price. After 60 months the price would decline to 60,3 percent.
2016 GMC Canyon
Its value after 36 months of ownership is estimated to be around 70.7 percent of its original price. After 60 months the price would reduce just to 59.5 percent. According to Steven J. Ewing from Autoblog this model owns one of the least harsh diesel engines he has ever tested, with low levels of vibration.
2016 Chevrolet Colorado
Its value after 36 months of ownership is estimated to be around 70.0 percent of its original price. After 60 months the price would reduce just to 58.6 percent. According to Autoblog this model offers little noise and vibration, and the engine does not appear to work with diesel.
2016 Jeep Wrangler
Its value after 36 months of ownership is estimated to be around 65.6 percent of its original price. After 60 months the price would reduce to 54.9 6 percent. Autoblog stated the Jeep Wrangler offers a perfect combination of comfort, civility and good performance for all weathers.
Source: Kelley Blue Book