A new car's resale value automatically drops as soon as it is driven off the lot, but some retain their value a lot better than others.
A new car’s resale value automatically drops as soon as it is driven off the lot, but some retain their value a lot better than others, according to Kelley Blue Book (KBB).
According to the latest report from KBB, Toyota was named the best brand (for the third year in a row) for its vehicles’ long-term value and Lexus was named the best luxury brand. In order to be eligible to be named one of the top 10 best resale value winners, the vehicle needs to retain at least half of its original value after 5 years of typical ownership.
“The awards are based not on a feeling or a guess or a simple calculation, but instead on what we consider to be the best research and analysis process in the industry,” according to KBB.
The list of top 10 cars is a little heavy with trucks and SUVs, but thrill seekers will be happy to see one car with 455 horsepower. However, no luxury cars made the top 10, although the 2014 Lexus LX 570, which retains 50% of its value, won for Best Luxury Full-size SUV/Crossover.
The following 10 cars will best retain their value over the first 5 years (or 60 months) of new-vehicle ownership.
10. 2014 Dodge Challenger
Resale value at 36 months: 60.8%
Resale value at 60 months: 50.5%
MSRP: From $26,495
Gas mileage: 18 city/27 highway
The Challenger Shakers is expected to be a future collectible car, according to insurance company Hagerty’s Hot List. Although the Shaker will cost an extra $10,000 more than the regular Challenger.
9. 2014 Chevrolet Silverado 1500
Resale value at 36 months: 59%
Resale value at 60 months: 50.6%
MSRP: From $25,575
Gas mileage: 18 city/24 highway
The Silverado is the second best-selling vehicle in the country, according to KBB. The 2014 model is not only all new with better capability, but it has a better resale value than in the past too.
8. 2014 Honda CR-V
Resale value at 36 months: 63%
Resale value at 60 months: 50.7%
MSRP: From $23,120
Gas mileage: 23 city/31 highway
Perhaps the reason why the CR-V has such a good resale value is because it’s one of the most dependable cars on the road, according to J.D. Power.
7. 2014 Chevrolet Camaro
Resale value at 36 months: 63.7%
Resale value at 60 months: 51.9%
MSRP: From $23,555
Gas mileage: 19 city/30 highway
Like the CR-V before it, the Camaro has been named one of the most dependable cars on the road. The 2014 model has a new rear-end styling and sees “the return of the Z/28 moniker,” according to KBB.
6. 2014 Toyota Tundra
Resale value at 36 months: 63.7%
Resale value at 60 months: 52.3%
MSRP: From $26,200
Gas mileage: 16 city/20 highway
The actually isn’t an all-new design. And while the Tundra may not have the strongest domestic sales, its resale value makes up for it, according to KBB.
5. 2014 Chevrolet Corvette
Resale value at 36 months: 67.5%
Resale value at 60 months: 53.5%
MSRP: From $53,000
Gas mileage: 17 city/29 highway
By far the most expensive car on the list, the Corvette isn’t just good for resale value after 5 years. Hagerty named the Corvette a future collectible car as the new model is a mix of Corvette heritage and technology. They are the most popularly collected vehicle in the US right now.
4. 2014 Toyota 4Runner
Resale value at 36 months: 66.6%
Resale value at 60 months: 56.2%
MSRP: From $32,820
Gas mileage: 17 city/22 highway
Yet another Toyota (and there’s still more coming), the 4Runner has a new style as well as different features. However, despite the changes, KBB projects its resale value will remain strong.
3. 2014 Jeep Wrangler
Resale value at 36 months: 70.3%
Resale value at 60 months: 59.1%
MSRP: From $22,395
Gas mileage: 17 city/21 highway
The Jeep Wrangler Rubicon X is expected to be a future collectible since many Rubicons compete at events. Plus, vintage SUVs are the fastest-growing collector segment, according to Hagerty.
2. 2014 Toyota Tacoma
Resale value at 36 months: 73.7%
Resale value at 60 months: 61.9%
MSRP: From $18,125
Gas mileage: 21 city/25 highway
The Tacoma is a workhorse, but it is also good for the weekends, and KBB gave it a strong resale value. Considering how affordable the vehicle is, the Tacoma offers the best long-term utility per dollar.
1. 2014 Toyota FJ Cruiser
Resale value at 36 months: 81%
Resale value at 60 months: 70%
MSRP: From $27,680
Gas mileage: 17 city/20 highway
For the second year in a row, the FJ Cruiser has claimed the top spot, and its resale value far outpaces any other car on the list.