How often do you trade-in your car? Is it time for you to look for another model to drive? Resale value is a factory you need to consider.
If you purchased your vehicle new in 2017 and you’re ready to make a trade, you’ll want to know if it’s one of the models that has the best resale value. Recently the J. D. Power 2020 U. S. Resale Value Awards have come out to give you the information you’re looking for.
What Qualifies a Vehicle for the Resale Value Award?
Models that are part of the consideration for the Resale Value Awards have to be three years old and have been used during three years of ownership. Vehicles that have the greatest resale value can bring you the most money when you’re ready to trade them because they have the build needed to continue to last a long time. The best overall resale value award went to the GMC Sierra 3500.
Trade-In and Take a Lower Depreciation Hit
Reputation matters and most of the models you’ll see in the list of winners for the Resale Value Award from J. D. Power come from brands that have the reputation of being reliable, dependable, and drive right for a long time. These models have the lowest depreciation costs and the key features needed to make driving better for you.
The Award Winners
If you own one of these models, you’re going to be offered the most for your trade-in if you’re ready to choose a new vehicle at your local dealer:
• Honda –Accord, Civic, Fit, HR-V, Odyssey
• Toyota –4Runner, 86, Prius v, Tacoma, Tundra
• Lexus –GS, LX, NX, RX
• Chevrolet –Corvette, Tahoe
• Dodge –Challenger, Charger
• Audi Q3
• Genesis G90
• GMC Sierra 3500
• INFINITI Q60
• Jeep Wrangler
• Mercedes-Benz B-Class
• Porsche Cayman
Arriving at the Winners
The 220 award process included 270 vehicle models that were evaluated using a sample of more than 592,000 transactions and an average of 2,200 data points for each vehicle. The models that won these awards are those that dealers pay the most for whether through wholesale or when a vehicle arrives as a trade-in for them to process during a sale. If you have a 2017 model on this list, you’re going to receive the most for your trade right now.
Notice the Brands on the List
If you’re looking at the next vehicle you want to drive because you’ve brought your 2017 model to the dealer to trade, notice the brands you see. Honda and Toyota have five on this list, Lexus has four, Chevrolet and Dodge each has two, and other brands have singular winners. If you’re looking at a 2020 or 2021 model to drive home, you might consider one of the models listed, they are likely to be the winners of this award again in three years.
Whether you want to admire the fact that your 2017 model is a Resale Value Award winner or you’re trying to figure out how you can get the most out of it for a trade, if your vehicle is on this list, you’re going to feel great about the model you drive.