Many new-car buyers have heard the common expression, “penny-wise and pound-foolish.” As it relates to new-car shopping, you can save money buying a less expensive new car, but later find out it depreciates faster than a similar, more expensive car that holds its value better. The money you save on a new-car purchase can be more than made up for by the greater depreciation five years later. Understanding what a vehicle will be worth when going to sell or trade it in can make the difference of hundreds, if not thousands, of dollars in the long run. To help new-car buyers shop smart, Kelley Blue Book today announces the 2020 model-year brand, category and top 10 winners of the annual Best Resale Value Awards, recognizing vehicles for their projected retained value through the initial five-year ownership period.
“Kelley Blue Book’s analysts are impressed at the residual values of our Best Resale Value: Brand winners, Subaru and Porsche, and new-car shoppers would be wise to consider a vehicle from one of those two brands to get the most bang for their buck in the long term,” said Eric Ibara, director of residual values for Kelley Blue Book. “Once again, this year’s Top 10 models are dominated by trucks, except for the all-new and much-hyped 2020 Chevrolet Corvette appearing on this year’s list. Without the imminent prospect of significantly higher gas prices, the used-car demand for trucks continues to be an ongoing, multi-year trend, directly impacting new cars.”
This year marks the fourth Best Resale Value: Brand win for Subaru, which previously won the same honors in 2011, 2015 and 2016. For 2020, Porsche celebrates its fourth consecutive win as Best Resale Value: Luxury Brand.