Aside from the Mini Cooper, what cars under $30,000 hold their value best over the course of say, seven years??? By 'value' I mean their resale price on the used car market.
If you really take care of a car and keep the milage at under 10,000 miles a year then many cars will bring in a good return. You will have to look at cars between 20,000 and 30,000 though to really have a better chance at what you'll get. It also depends on if you sell it outright or trade it in.
Youre right about more expensive cars holding their value better...with the exception of the Mini Cooper which sells for $18-20,000. Anything over 60% percent of its retail price after three years is very good. SUVs hold their value the worst of all vehicle types.
I would say our VW Jetta (seems to even buy a used one with tons of mileage still costs a fair buck) When we sold it, we still got a good buck for the yr and high mileage on it. Our Jeep also held it's value pretty good. Nietzsche got a VW Golf to replace it now.
I think you find it's mostly down to how you maintain your Vehicle and whether it's garaged or not. If you do services when you are suppose to, maintain oil, water and type pressures and obviously keep it in a garage, it will have a greater value of one that's just been "ran until it dies" that sits under a tree that drips sap and regularly allows bird poo to eat away at the paintwork. If you decide to go through a drive through "Bin" your rubbish, if you smoke... don't do it in the car it discolours the interior. Obviously if you keep it in a garage with a dust sheet over it only taking it out at the weekends, you'd keep the mileage down too. Why do you think sales people use to pull the "One careful lady owner" line. Back in the day it meant someone that was cautious, that kept to the speed limit, that didn't have pets or children soil it's interior.
Yes, but this is an 'all other things being equal' type of question. Mrow posted a worst list, but the best list on the same site mentions the VW Beetle and the Ford Mustang...big surprise there!
i would have thought that the cheaper cars would hold their value best, sure its going to lose half its value the minute you drive it off the yard, but at least you havent lost as much.
BTW, I have removed the Prius from my opening post as theres no evidence it should be there. It was just my assumption that a car they cant keep in stock would hold its value longer. The two big winners are the Mini and the Beetle...both distinctive styles that look like nothing else on the road. Are you listening GM, Ford, etc....?
probably not,, big three are run by idiots who have no clue about what people want/like.. only cars that will keep or even appreciate in value are very rare ones, there was 55 chevy sold while back for 250.000$ at Barret's auction...but then it must have been in A1 condition not driven much...or most likely completely rebuilt. still pretty good investment anyway you look at it,as it didnt cost more than couple thousand when new.. will any car ever be worth as much twenty, thirty years down the road? wish I knew!!
There is another method that companies employ in regards to "Rolling Stock". When they purchase a "Company Car" for use, they identify the period of time that they call it's "Life Expectancy", this is the life it will exist in service of the company. The Cost of that purchase is then divided by that period of time. It gives a rough idea of it's worth as the car ages until it is eventually decomissioned. By the point it's classed as worth zero by the company and any purchase price is technically acceptable.(although they are obviously going to go for a premium price) Obviously there are extra factors that are missed here, like wear and tear, mileage allowances etc.
Cars are designed in a more utilitarian fashion nowadays so its hard to think of one that will become an antique classic. Its not that great designs arent created in the concept stage...just that the executive branch feels the need to dumb them down into something practical and generic. The Volt concept was brilliant, but not very aerodynamic. I'll be more enthused about cars when theyre all built with thermoplastic body panels...like the Smart cars. Please Register or Log in to view the hidden image!
Oh I miss Smart cars, used to be everywhere when I was living in Germany... If you got in an accident while driving one, they just used the Smart car as the coffin, so convinient, AND eco-friendly Please Register or Log in to view the hidden image! I have to wonder, does a diesel car hold it's value better than a gas counterpart, being that diesel engines are more heavily built, yet mechanically simpler? I'm guessing they'd be more reliable and longer-lasting for those reasons, is there truth to that?
Old classics obviously. A 1969 shelby or something isn't going to decrease in value after 7 years, might go up, is more likely to the longer you keep it. Or do you strictly mean new cars? I don't know about suvs not holding their value either, are ford f series trucks classed as suvs? They hold their value better than anything probably, in australia anyway. 2001 models still easily sell for well over $100K, pretty close to what they were brand new.