Buying a vehicle is a huge investment. However, its value depreciates as the years go by, whether it gets used every day or even just parked in your garage. On the contrary, some vehicles -- especially those that are considered “classic,” “vintage” or “rare” -- may actually increase in value over time.
Before deciding to sell your vehicle, make sure you know its resale or residual value, or the approximate value of your vehicle. Among factors that can affect resale value include brand reputation, supply and demand, gas prices and warranty. Likewise, you should also know whether your vehicle actually holds a higher value than other cars.
Among cars that are said to hold their value the best this year is the Toyota Tacoma, which has been part of Kelley Blue Book’s “2018 Best Resale Value Awards” for four years now.
The Toyota Tundra is also predicted to retain 64.7 percent of its value this year, as well as the fifth-generation Toyota 4Runner. The Jeep Wrangler is also included in the list, as well as the GMC Sierra, Chevrolet Silverado and Colorado, Ford F-Series, Honda Ridgeline and Subaru WRX.
Is your vehicle included on the list? Perhaps it is time to take the opportunity to resell it. Make sure to consult an automotive expert before going ahead.