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Thinking of getting a new car (or a new car to you)?
As demonstrated, trucks, hybrids and sports cars retain their best value over time kelly blue book (KBB) Top 10 List. Meanwhile, as the report notes, electric vehicles (EVs) and large luxury vehicles melt like snow in summer pod energy. This begs the question: Why do some cars hold their value so much better than others?
Below are five things to consider before trading in your car or buying a new one.
Also find out which is cheaper – hybrid or gas vehicles.
Reliability and life expectancy
Used car buyers want as many good years and miles as possible. “If you’re buying a used car with 100,000 miles on it, you’ll spend more on a car that’s reached 300,000 miles than on a car that’s reached 150,000 miles,” said Melanie Musson, auto expert. AutoInsurance.org.
It’s no wonder why Toyotas, Lexus, Hondas and Subarus have retained their values so well. they are on top consumer Reports‘Reliability rankings and consistently rank well year after year.
maintenance cost
Yes, reliability affects future maintenance costs. But it’s not the only factor in the equation.
Mechanic Alan Gelfand explains, “Cars with extensive service networks, affordable parts and simple drivetrains hold their value best because they cost much less to maintain than complex luxury cars with uncommon parts and few specialist mechanics.” German Car Depot.
Remaining Battery Life for EV
Electric vehicles lose value faster than their gas-powered counterparts, losing 57.2% of their value in five years. ISeeCars.com.
Why? Because their batteries lose their range every year and replacing them costs more than some new cars. Battery life is shorter than most gas-powered car engines, averaging only eight to 12 years per car and driver.
fuel economy
Continuing the theme of cost of ownership, used car buyers prefer hybrids and cars with strong gas mileage.
“In everyday cars like family vehicles, cars with better fuel economy hold their value better,” Gelfand said.
Demand among enthusiasts
Not every driver purchases for everyday use. Some special cars retain their value for reasons completely unrelated to fuel economy or maintenance costs.
“Off-road enthusiasts pay a premium for strong, reliable and durable vehicles like the Toyota Tacoma and 4Runner because they can withstand harsh conditions and still run well for many years,” Gelfand said.
Similarly, Simon Granville sees a pattern with the luxury and supercar fleets he rents and sells. nero line. Granville said, “A manual gearbox in the supercar segment can add 15% to 25% to resale compared to the same car with a PDK, as inventory is decreasing every year.”
If you are buying a particular car as an enthusiast, look into the specific factors that drive up the prices of older models before purchasing a new car. Your future self will thank you when it’s time to sell.