If you plan to sell your car a few years after buying it, you might want to dig deep into your wallet and purchase a Lexus.
The luxury auto brand earned six honors in the 2019 J.D. Power Resale Value Awards. That was tops among any auto brand.
In compiling its rankings, J.D. Power analyzed 256 vehicle models by dipping into a sample of more than 630,000 transactions.
The analysis took used vehicle wholesale prices — or, how much a dealer pays for a used vehicle — and divided those prices by the vehicle’s original purchase price.
All calculations were based on wholesale records from January through June 2019 for 3-year-old vehicles.
In an announcement, Jonathan Banks, vice president of vehicle valuations and analytics at J.D. Power, says:
“Our transaction database shows the models that have the lowest depreciation costs, which can be very helpful to new-car buyers when deciding on their purchase.”
J.D. Power ranked cars for resale value across 26 model types. Brands that earned the most awards — and their models receiving honors — were:
- Lexus — CT, RC, GS, NX, RX and LX
- Honda — Fit, Civic, Accord, CR-V and Odyssey
- Toyota — Prius, Tacoma, 4Runner and Tundra
- Porsche — Cayman, 911 and Panamera
The GMC Sierra 3500 had the best resale value of any large heavy-duty pickup, as well as the best resale value of all models included in the study.
The other cars that had the best resale value in their respective model categories are:
- Audi Q3
- Chevrolet Tahoe
- Dodge Challenger
- Dodge Charger
- Scion tC
- Subaru Crosstrek
Finding the right car for you
Before you shop for a car, you might want to compare the J.D. Power list with a similar set of rankings that Kelley Blue Book issued earlier this year. Get the skinny on that study in “The 10 Cars That Hold Their Resale Value Best.”
Reading through each list should give you a good start on finding the right vehicle. Such information is vital, as choosing the wrong car can cost you a ton of money. For more, check out “How Buying the Wrong Car Can Cost You an Extra $3,400 Annually.”
Don’t let your research end there. The following stories also offer valuable tips for anyone thinking about buying a new set of wheels:
- “It’s Cheaper to Buy These 10 Cars Online“
- “10 Late-Model Used Cars You Can Buy at a 50% Discount“
- “6 Websites Everyone Should Check Before Buying a Car“
Which car do you plan to buy next? Let us know in comments below or on our Facebook page.