Toyota Brand Awarded Best Resale Value by KBB
Many car shoppers never realize depreciation is the biggest cost when it comes to owning a new car. After 3 years, most new cars are worth about half what they were brand new. For a $30,000 car, the cost is equivalent to $5,000 per year.
It's important to pay attention to residual values and choose a car that will retain its value, especially if you intend to sell it within 5 years.
Kelley Blue Book just announced the results of its "2010 Best Resale Value" award winners and Toyota won the best brand for the first time since the awards began in 2003. Lexus was also awarded the best Luxury brand.
As for individual cars, here are the top 10 best cars to own when it comes to resale value:
- Audi A5
- BMW M3
- Chevrolet Corvette
- Chevrolet Camaro SS
- Honda CR-V
- Mini Cooper
- Mini Cooper Clubman
- Toyota Prius
- Toyota RAV4
- Toyota Tacoma
To see the full list and winners by category, check out KBB's press release
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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