Chevy Wins Five Best Resale Value Awards
The awards keep coming. Chevy vehicles were awarded the Best Resale Value Award by Kelley Blue Book in five different categories:
- Sports Car: Camaro V6
- Electric Car: Volt
- High-Performance Car: Camaro SS
- Full-Size SUV: Traverse
- Overall Top Ten Cars: Camaro
Each of the models that earned the award had small changes from previous years’ models. For example, the Camaro V6 features a 323-horsepower V6 as its base engine for 2012. The Camaro SS offers a multi-link rear suspension instead of a live axle to improve handling. The gas-electric Volt and Traverse have also ventured away from tradition to meet the needs of car owners.
Resale value is something consumers look for. Over the first five years of new-car ownership depreciation is the biggest expense for car owners. In fact, a car loses thousands of dollars of its value the minute it leaves the dealership’s lot. That is why it is important to choose a vehicle that retains its value better than others. This will make help owners to be sure they come out ahead when it comes time to trade-in the vehicle.
The Kelley Blue Book Best Resale Value Awards look at projections based on current vehicle data, sales data, market conditions for each vehicle, competition within vehicle categories, expectations of the future economy, and the experience and expertise of KBB’s market and pricing analysts.
Different cars depreciate more than others, so it is important to do some research before buying a new car. For consumers that plan to keep their new car for many years, resale value is probably less important than for those who plan to replace it in three to five years. This is even true of a leased vehicle.
Some of the things that affect a car’s value are how it historically performs on the used market, its popularity, and whether it is relatively cheap to buy and fix. Buying a car with popular options is a good idea because it will make it more desirable when it is time to sell it or trade it in.
There are some ways car owners can help to preserve the resale value of their vehicles. Washing the car regularly inside and out, parking in the shade to prevent oxidation of the dash and trim, parking away from other cars to avoid door dings, keeping maintenance records, and using protective products on the interior and exterior all help to make a car more desirable at resale. Some other things that will up the resale value include not smoking or eating in the car, avoiding unusual paint colors, not customizing the car in extreme ways, and not neglecting oil changes.
With smart shopping and smart ownership, a vehicle can keep its value and be an asset to its owner. Come in to Lake Country and let our sales staff and finance department help you to make the best choice for a car with high resale value.