Top 10 vehicle resale models for 2013, Jeep Wrangler among them
Nov 26, 2012 (Detroit Free Press - McClatchy-Tribune Information Services via COMTEX) --
Among 2013 models, certain Japanese cars will hold their resale value better after five years of ownership, but the Jeep Wrangler was also among the 10 models projected to retain most of their value, according to an annual study released by Kelley Blue Book today.
Of the top 10 models, eight are from Japanese brands. The other two are the Porsche Cayenne and the Wrangler, the provider of new- and used-car information said.
Rounding out the top 10 were Honda Civic and CR-V; Lexus LX; Scion tC; and the Toyota FJ Cruiser, Land Cruiser, Tacoma and 4Runner.
For the second year in a row, Toyota and Lexus were the top non-luxury and luxury brands. Depreciation is the biggest cost most consumers face when they buy a new car. The results are based on projections from KBB's residual value guide.
An average 2013 model will retain only about 39% of its original value, meaning a $50,000 new car today will be worth about $19,300 after five years, KBB data shows.
Just because a car is expensive or a luxury brand does not necessarily mean it will hold more value over time. Most options and features don't increase resale value either, with the exception of high-performance engines in sports cars or all-wheel-drive in a snowy region.
"Getting the most for your money means knowing what your car will be worth when you sell it, not just what it's worth when you buy it," said Jack Nerad, KBB executive market analyst.
Taking time to research residual values can help shoppers get the best price when they sell or trade in the vehicle.
The awards date to 2003.
Competition for Best Resale Value has become very heated in the last few years, as new models have challenged traditional favorites, said Eric Ibara, director of residual consulting for Kelley Blue Book.
For example, Chrysler's average residual value dropped by more than a percentage point, but Dodge improved by 7 points as its full range of established vehicles and the new Dodge Dart did well.
In Chrysler's case, the 300 gained value this year, but the addition of the 200 and Town & Country minivan to the data brought the brand's average down from a year earlier.
Jeep jumped nearly 4 points for 2013.
"Not only does the Wrangler command a significant amount as a used vehicle, but it consistently does so year after year," said Ibara.
Niche vehicles and those costing $60,000 or more were only eligible to compete in the luxury and high-performance categories.
The Chevy Camaro SS took the high-performance award. The new Ford Fusion hybrid is expected to best hold its value among hybrids and alternative energy cars. The Volt took the award in the electric vehicle category.
The awards will be presented Tuesday at an event on the eve of the Los Angeles Auto Show.
Contact Alisa Priddle: 313-222-5394 or firstname.lastname@example.org
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