Used Car Value Says A Lot About a Car, So What Should You Buy?
Whether you’re buying a new car or a late-model used car, value should be a key consideration. Some vehicles tend to depreciate quickly. Others tend to hold value very well. It really just depends on the model.
Kelley Blue Book (KBB) and Edmunds are two of the top sources for evaluating a used cars values. Every year, both companies post lists of used cars that have held their values, but they approach the project in very different ways. Edmunds’ analysts break down the best options in each category (e.g. compact, mid-size, SUV). KBB’s analysts simply crunch the numbers and list the winners, regardless of what category they fall into. (KBB does break out their category choices, but their list of overall winners disregard category as a factor.)
Remarkably, eight of KBB’s top 10 used car values for 2016 are trucks or SUVs. One likely reason is that, thanks to low fuel prices, used-car buyers (and dealers) are willing to pay more for less efficient vehicles. Most of them are retaining more than half — and some as much as 70 percent — of their value over the first three to five years.
Used Cars with Value
By comparing and combining KBB and Edmunds’ lists, we found that, for the most part, they agreed. When they disagreed, we listed both choices. So here is a list of 10 vehicles, divided by category, that should hold their values in the years ahead:
- Subcompact car: Honda Fit
- Compact car: Subaru Impreza or Subaru Impreza WRX
- Mid-size car: Toyota Camry or Subaru Legacy
- Full-size sedan: Toyota Avalon
- Luxury vehicle: Lexus GS350
- Compact SUV: Honda CR-V or Jeep Wrangler
- Mid-size SUV: Toyota 4Runner or Toyota Highlander
- Large SUV: GMC Acadia or Chevrolet Tahoe
- Mid-size truck: Toyota Tacoma
- Full-size truck: Toyota Tundra
We’d love to hear what car you decided to go with. Share your decision or any other thoughts related to used cars in the comments below!