The resale value of used cars for sale have become more important as vehicles became more and more expensive. Most consumers choose cars based on aesthetics or what they would look like while driving it. While these reasons make sense, it’s unfortunate that they neglect to include the resale value when computing the cost of ownership. Experts in the industry say it’s proven to be the most expensive element in buying a new car. As a matter of fact, depreciation is more costly than what’s spent on maintenance, insurance, and fuel over the first five years of vehicle ownership.
According to iSeeCars.com, an automotive research firm, cars depreciate an average of 49.6% over the first five years. This could mean bad news if you plan on selling used cars. Further research has shown that vehicles from Honda, Toyota, Jeep, Nissan, Porsche, and Subaru, have a depreciation value of 19.4%-39.5%. Phong Ly, chief executive officer (CEO) and co-founder of iSeeCars.com, shared that one reason why this is the case for Toyotas and Hondas is because they’re among the reliable manufacturers in the vehicle industry.
A little knowledge on what used cars for sale hold their value at a buy here pay here car dealerships can be quite helpful. Check out which vehicles have the best resale value in the United States:
The Subaru Outback is packed with a safety suite, fresh technology, and an upgraded engine. Designed with the great outdoors in mind, the Subaru Outback has an all-wheel drive stand and almost nine inches of ground clearance for those off-road adventures. With all these features and more, it’s no wonder the Subaru Outback ranks high among used cars with the best resale value at a buy here pay here car dealerships.
If there’s one thing that the Toyota Highlander shares with the models that came before it, it’s this: best in resale value. This beauty has long been included in the list of best SUVs for families and individuals who are always on the go. It’s spacious, what with its capacity to seat a maximum of eight passengers, and that’s what people love about it.
The Honda Odyssey is an enjoyable, safe, and practical vehicle that’s why its depreciation value isn’t that high. It’s a family vehicle that can seat a maximum of eight people, and it has enough room to accommodate kids and adults. The center row can be adjusted to meet all types of needs and the rear bench can be folded to make more room for cargo.
Some consumers buy cars with the intention of selling it after five years. This is why it’s important to look into a car’s depreciation value. After all, anyone who’s planning to sell whatever they buy is obviously looking to earn most of their money back. The next time you find yourself scouting for a new car, take this into consideration. That way, you can get your money’s worth.