When people are looking to sell or buy a vehicle people usually turn to Kelley Blue Book. The site helps users view what their vehicle is valued at, or what they should be paying for one. A big part of any car purchase is the resale value of the vehicle. Although thinking about the resale or trade-in value will be after a few years may seem a bit hasty, knowing it beforehand helps you plan for the future. This post will feature KBB’s top 10 model year 2019 vehicles least likely to lose resale value over the next 5 years. Additionally, the importance of resale/trade-in value and depreciation will be discussed.
Kelley Blue Book’s list of best resale value over the next 5 years
The Circle of Life
You may have heard the expression “your car starts losing value the second you drive it out of the lot”, and thought there’s no way that can be true, but it is. A vehicle depreciates in value quickly, especially for new cars. You could sink $30,000 into a vehicle, yet if you try and sell it 5 years later the resale value, or trade-in value, will not likely even be half the original value. Cars are investments, so unless you never plan on selling or trading in a vehicle, you should plan ahead.
Of course, cars don’t just naturally retain resale value. If you want your vehicle to have the best resale value possible, keep it well maintained. Get oil changes on time, brakes, tires, and other wear and tear fixes to ensure the best value down the road. Avoid accidents, scratches, and dents as well in order to keep the car from dropping in value as well as drive up insurance premiums.
Your car is an investment, treat them like one. If you plan on buying a new car, KBB has a great list of cars predicted to lose the least amount of value over the next 5 years. It is important to pay attention to resale value as well as maintaining the value on your end.
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If you’d like to take a look at more blogs about proper car maintenance, we have a bevy of them on our website. Consider taking a peek at these before you leave: