US awards recognize Land Rover and Toyota residual values.
We all know that a new car purchase is often the second biggest spend most Australians will make.
But how often is the residual value of the vehicle you buy really taken into account? Car ownership is a series of expenses beyond just that initial purchase price and depreciation can be a hidden trap.
In the US, automotive valuation agency ALG has just recognized the car brands and models that they forecast will have the best resale value after three years.
Among the premium automotive brands Land Rover came out on top, while Toyota was the overall winner among the mainstream manufacturers.
ALG Annual Residual Value Awards (RVA) winners;
Subcompact Car: Honda Jazz (Fit)
Compact Car: Mazda3
Midsize Car: Subaru Liberty (Legacy)
Full-size: Dodge Charger
Alt-Fuel Vehicle: Toyota Prius v
Sports Car: Subaru WRX
Minivan: Honda Odyssey
Subcompact Utility Vehicle: MINI Countryman
Compact Utility Vehicle: Honda CR-V
Mid-size Utility Vehicle (two row): Subaru Outback
Mid-size Utility Vehicle (three row): Toyota Kluger (Highlander)
Full-size Utility Vehicle: Chevrolet Tahoe
Off-Road Utility Vehicle: Toyota 4Runner
Mid-size Pickup: Toyota Tacoma
Full-size Pickup: Toyota Tundra
Mid-size Commercial Van: Ford Transit Connect
Full-size Commercial Van: Mercedes-Benz Sprinter
Premium Compact Car: MINI Hardtop
Premium Midsize Car: Lexus IS
Premium Fullsize Car: Hyundai Genesis
Premium Executive Car: Porsche Panamera
Premium Sports Car: Audi TT
Premium Compact Utility Vehicle: Porsche Macan
Premium Midsize Utility Vehicle (two row): Land Rover Range Rover Sport
Premium Midsize Utility Vehicle (three row): Lexus GX
Premium Fullsize Utility Vehicle: Toyota LandCruiser
Larry Dominique, president of ALG says he hopes the awards get buyers thinking more about residual values when they are researching their new car purchase.
“Residual value is important for automakers and consumers because it’s a complete indicator of the vehicle’s future value, accounting for quality, durability and brand desirability among other factors.”