While most car buyers consider sticker price a significant number, they may also care to consider a number they won’t find on any window sticker: the resale value.
Depreciation is often the greatest expense incurred by drivers during the first five years of vehicle ownership. Knowing what vehicle brands and models have the best projected resale value can help drivers make a more informed decision.
To help, the leading provider of new- and used-vehicle information, Kelley Blue Book, announced the winners of its annual Best Resale Value Awards.
The company points out that just because a car is expensive or from a luxury brand does not necessarily mean it will hold its value better down the road. In addition, many options and packages may not increase resale value. Finally, regional preferences can significantly affect the value of a vehicle. In colder areas, a two-wheel-drive vehicle’s resale value will not be as high as a four-wheel- or all-wheel-drive option of that same model. Conversely, in warmer climates, black (or dark-colored) cars will not have as high a resale value as light-colored cars.
“Especially in today’s difficult economy, consumers should take a good look at the projected resale value of a car when choosing their next new-vehicle purchase,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com. “Taking the time to research and choose vehicle makes, models and options wisely now can help new-car shoppers keep additional money in their pocket down the road.”
For more information about Kelley Blue Book’s Best Resale Value Awards, visit www.kbb. com/brva2010.
