If you are buying a car it is always smart to go for something with great resale value. Contrary to what many think, buying a car can be a good investment if you choose one with strong resale value.
Let's take a look at the best vehicles with great resale value:
Toyota Tacoma - The Reliable Midsize Truck
The Toyota Tacoma is without a doubt one of the best trucks with great resale value. After five years, it retains up to 64.1% of its original value. This is way above the industry average. This means after 5 years of using a Tacoma, you can still sell it for almost sixty five percent of what you bought it for!
The reason the Tacoma enjoys such a great resale value is because it is known as a reliable vehicle with great off-road prowess so it has a loyal fan base. Simply put, buyers trust the Toyota Tacoma and this translates into strong demand in the used truck market.
Toyota 4Runner - Rugged and Resilient
The 4Runner is another Toyota vehicle that has awesome resale value. It is a midsize SUV that retains almost 75% of its value after five years. It has a reputation for lasting well beyond 300,000 km, so it is highly sought after in the used car market.
Hard to find a midsize SUV that comes close to the 4Runner in resale value.
Chevrolet Corvette - The Beloved Sports Car
In case you thought the Corvette is all show and no substance, you can't be more wrong!
With a resale value of around 61% after five years, it leads the luxury and sports cars market in resale value.
The timeless design, powerful engine, and the fact that they are produced in limited quantity help make the Corvette a highly sought after used car.
Ford Bronco - The Custom King
The Ford Bronco has been around for a while and it is still in high demand in the used vehicle market.
Retaining around 57% of its value after 5 years, the Bronco has a loyal fan base. The fact that it is easily customizable is an appeal many SUV lovers can't resist.
Toyota RAV4 - The Compact SUV King
When it comes to compact SUVs, the Toyota RAV4 stands out with good resale value. Retaining almost 54% of its value after five years, it continues to outperform many compact SUVs.
Known for great fuel efficiency and reliability, the RAV4 is always in high demand as a used vehicle.
Honda HR-V - Subcompact Delight
When it comes to subcompacts, the Honda HR-V definitely punches above its weight. Retaining 68-69 percent of its value after 5 years, the HR-V definitely provides great return on investment.
Hyundai Venue - Reliable Subcompact
Another great subcompact worth mentioning is the Hyundai Venue. Retaining as much as 68% of its value after 5 years, budget-conscious buyers now consider the Venue a good investment.
Why Resale Value Matters
Is resale value really a big deal? Yes it is!
Choosing a car with awesome resale value means:
- You save money because the car depreciates less.
- You get a better deal when trading in the car
- You can sell the car for a higher price than others with less resale value.
Conclusion
Whether you're buying a new or used car, considering the resale value can help make your car buying more of an investment than a luxury. So always consider long term value and don't just settle for short term bargains!
