Recently, Kelley Blue Book (KBB.com) announced the winners of its 2017 Resale Value Awards. Toyota was the big winner this year, claiming the title of Best Resale Value Brand for the first time since 2014. And among the top ten vehicles with the best resale value, trucks clearly dominated. This is consistent with the recent trend of used trucks being in high demand.
Knowing which vehicles are retaining their value well is helpful for consumers who are looking to trade a car in, purchase one or both. If someone has a vehicle to trade in that has earned a Best Resale Value award, it's likely that they'll get a good price from a dealer.
Also, for those who are in the market to buy a new car, it's useful to know which vehicles have held their value well. These cars will probably fetch decent trade-in prices down the road.
Cars Recognized for Having the Best Resale Values
Again, as a brand, Toyota vehicles usually retain good resale values. This is largely because Toyota has consistently produced models with high predicted reliability ratings. Cars like the Corolla, Camry and Prius are built to provide buyers with years of worry-free driving.
So, if you have equity in a Toyota vehicle that you've maintained reasonably well, you can expect to get a good price for it when you trade it in on your next vehicle.
Here are some of the vehicles that have been honored by KBB with Best Resale Value Awards:
- Subcompact Car – Honda Fit
- Compact Car – Subaru Impreza
- Sporty Compact Car – Subaru WRX
- Mid-Size Car – Subaru Legacy
- Mid-Size Pickup Truck – Toyota Tacoma
Buyers who are shopping for a used car with a limited budget may be deterred from purchasing vehicles with good resale values. But these consumers might want to rethink their strategy. That's because these cars may cost a little more, but opting for one could actually save buyers money down the road.
Used Cars with Good Resale Values for Buyers with Small Budgets
For consumers with bad credit and car buyers with small budgets, the good news is that, according to J.D. Power, prices for used cars are down across the board. And since gas prices have, on average, been cheaper lately, subcompact and compact vehicle prices have been falling for a while.
In the middle of this slump, the Honda Fit and the Subaru Impreza apparently hold their value better than other cars in their classes. And recent used models of these vehicles can be purchased for well under $20,000. So, depending on your needs and driving habits, one of these cars might be right for you.
- The 2015 Honda Fit: For drivers who don't need a lot of space, this subcompact vehicle is a fuel-efficient (EPA-estimated) and fun-to-drive option. To be fair, though, the Fit offers a surprising amount of backseat room and cargo capacity for such a small car. After skipping a year, Honda fully redesigned the Fit for 2015. This model then went on to be named Best Subcompact Car and Best Hatchback for the Money by U.S. News and World Report.
- The 2013 Subaru Impreza: One of the great things about the Impreza is that it comes standard with all-wheel drive. This is also one of the reasons why this compact car holds its value so well. The 2013 Impreza also offers "good" EPA-estimated fuel economy and an exceptionally large backseat with plenty of legroom. So, if you're the mom of a basketball-playing teen, the Impreza can get you to those away games in style.
If you're pretty sure that one of these vehicles should be your next car, check with a local dealer for current pricing and availability.
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