When you’re buying a car, you might not want to think about someday needing to sell it. However, you’ll eventually need an upgrade and, when you do, selling your car could net you a higher dollar amount for your next car than a trade-in might.
That’s why car shoppers shouldn’t just think about how to avoid buying a lemon, but also how to buy a car that will sell for a higher price than others. After all, if you plan on selling your car for a new model in a few years, you’re going to want to get as much value out of it as you can.
But how can you do that?
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Understand How Resale Values Are Calculated
Kelley Blue Book has long been the name in understanding how much cars are worth, and Eric Ibara, Director of Residual Value Consulting at Kelley Blue Book, talks about how site calculates the resale value on a car.
According to Ibara, Kelley Blue Book looks at a car’s past to see how its value has held up over the years, then runs a regression model to determine what a new car now will likely sell for in the future. But that’s not the last step. Experienced automotive analysts then review the output of the model to determine if whatever adjustments the model made in the car’s future resale value holds up to what’s happening in the marketplace now.
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Consider the Difference Between Cars, Trucks & SUVs
And the trends they’re finding now can impact the value of your next car purchase. Ibara made note that trucks and SUVs have been topping the list of vehicles with the highest resale value. In fact, nine out of ten of their top ten are trucks or SUVs. In Ibara’s words, “People are just not purchasing cars the way they did even five years ago … as a result, the resale value of SUVs is stronger than cars.”
If you’re debating between a car and truck or SUV, this is something to consider if you know you’ll want to sell within a few years of buying your next vehicle.
That said, this list will take a look at the cars, trucks, SUVs, minivans, and everything in between so you can find out the top model for resale value in whatever class of vehicle is on your list. Here’s what the Kelley Blue Book ranks as the top vehicles for resale value in 2018.
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1. Compact Car: 2018 Subaru Impreza
If you’re looking for a compact car to get you to and from work, kids practices, and everywhere in between, Kelley Blue Book rates the 2018 Subaru Impreza as the best compact cars for resale value.
According to Kelley Blue Book, this car has a resale value of 51.3 percent of its value at three years — and 34.3 percent of its value at five years. The site also gives it a rating of 8.7 out of ten, and consumers on the site rate it at an 8.8 out of 10.
Image Credit: Subaru.
2. Full-Size Car: 2018 Toyota Avalon
What if you need a little more room in your day-to-day car? Consider the 2018 Toyota Avalon. Kelley Blue Book shows that this full-size car has a 44 percent resale value at three years and 34 percent at five years.
As for ratings, Kelley Blue Book gives it a score of 8.1 out of ten, while consumer reviews on the site give it a score of 8.4.
Image Credit: Toyota.
3. Hybrid: 2018 Toyota Avalon Hybrid
Hybrid lovers looking for an option that will give them flexibility both now and later might want to check out the 2018 Toyota Avalon Hybrid.
At three years, this car can sell for 42.3 percent of its value, according to Kelley Blue Book. Sell at five years and you might get 33 percent of its value. This car also has a Kelley Blue Book rating of 8.1 out of ten, while consumers on the site give it an 8.5.
Image Credit: Toyota.
4. Full-Size Pickup Truck: 2018 Chevrolet Silverado HD
Those who need to do a little more heavy lifting day-to-day aren’t left without options, as the 2018 Chevrolet Silverado HD comes in as Kelley Blue Book’s top pickup truck for resale value.
The site boasts a whopping 61.8 percent resale value for the the truck after three years, and a still high 56.4 percent after five.
Image Credit: Chevrolet.
5. Minivan: 2018 Honda Odyssey
And what if you have to haul more kids than hay? Enter the 2018 Honda Odyssey, which has a Kelley Blue Book rating of 9.4 out of ten. What’s more, consumers on the site give it a solid 10.
As for resale value, Kelley Blue Book says the minivan can sell for 54.8 percent of its value at three years and 39.5 percent at five.
Image Credit: Honda.
6. Subcompact: 2018 Honda Fit
For those who need to zip around town in a car that’s just right in size for what they need, the 2018 Honda Fit is an option to consider.
Kelley Blue Book gives this subcompact car a rating of 9.3 out of ten, though consumers on the site give it an 8.6. As for resale value, the site says it can sell at 47.7 percent of its value at three years and 31.6 percent at five.
Image Credit: Honda.
7. Compact SUV/Crossover: 2018 Jeep Wrangler
One of the most recognizable names in outdoorsy cars, the 2018 Jeep Wrangler gets top marks from Kelley Blue Book for its resale value.
The site says that the 2018 Jeep Wrangler has a resale value of 60.3 percent at three years and 50 percent at five, while the consumer reviews on the site score the crossover an 8.7 out of ten.
Image Credit: Jeep.
8. Full-Size SUV: 2018 Chevrolet Tahoe
Those who need a crossover with a little more heft can look to the 2018 Chevrolet Tahoe for top resale value.
Kelley Blue Book states that this full-size SUV/crossover has a resale value of 55.3 percent at three years and 41.3 percent at five years. Consumers on the site give the 2018 Chevrolet Tahoe an 8.2 out of 10, while the experts on Kelley Blue Book rate it at 9.2.
Check out more great vehicles that hold their resale value.
Image Credit: Chevrolet.
