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When it comes to buying and selling cars, it can be tricky business. Sure, a vehicle may have a lot of value going for it when it’s on the lot, but what about after purchase? After a year? After five? Those are questions consumers need to ask themselves when in the market for a new car. Unless planning on keeping the vehicle for over 10 years, and by then it’s more or less breaking down anyways. The problem is, most consumers won’t have the answer to such questions, and that’s why publications and organizations like Kelley Blue Book exist. They put together lists every year of the best vehicles for all kinds of categories, and recently, it was the Kelley Blue Book 2021 Best Resale Value Awards.
"Shoppers who choose to buy a 2021 model from one of our Best Resale Value Brand winners can be very confident that their vehicle will retain its value well over time…with the unprecedented events of the last year, we are seeing a slight increase in the overall average residual value for new vehicles, explained by the significantly reduced car supply as well as the market continuing to shift to SUVs, which tend to have higher resale values." - Eric Ibara, director of residual values for Kelley Blue Book
Interesting how a worldwide pandemic could add value to an automobile. Being in short supply, it’s all about basic economics – supply versus demand. With auto manufacturers shutting down plants all over, vehicle production came to a standstill. Now, things are back up and running, so which vehicles are the ones that will last, regardless of the supply or number of units produced? After all, according to the Kelley Blue Book Residual Value Guide, over the course of five years, an average 2021 model-year vehicle will only retain about 40-percent of its original value.
Only 40-percent? That means a vehicle worth about $35,000 today won’t even be worth half that in five years. Sheesh, it’s a good thing consumers can get some real deals when buying a car online with NowCar. We won’t get you 40 percent off, but we can definitely help saving some dough. Aside from that, what vehicles are the ones to look for?
In terms of vehicle segment category, here are the winners for 2021. The GMC Yukon won the Full-Size SUV category, the Chevrolet Corvette won the Sports Car category, the Kia Telluride won the Midsize SUV – 3-row category. Yeah, that one surprises us too, with Telluride already a behemoth amongst SUVs. Then there is the Jeep Wrangler, taking home an award for what it’s known for – Off-Road SUV. The GMC Sierra 2500 won the Full-Size Pickup Truck category. In terms of the Top Ten Vehicles, however, the 2021 Jeep® Wrangler, 2021 Jeep Gladiator and 2021 Ram 1500 and Ram 2500/3500 pickup trucks took home the gold on that one.
Wondering if it’s just because of the pandemic and supply versus demand? This year marks the 11th consecutive year for the Jeep Wrangler, leading off-road SUVs for three years running, and the second consecutive year Jeep and Ram landed in the top ten. Those numbers don’t lie. Look for a vehicle that will keep its value for years to come on NowCar today.