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    • Buying a car that retains value


      A new automobile loses value incredibly fast. According to CarsDirect, a car will lose 15 to 20 percent of its value each year.

      But some automobiles hold their value better than others.

      AutoExpress reported that SUVs and 4x4s tend to hold their value for a longer period of time compared to any other type of vehicle. The automobile magazine reported that SUVs retain 46.6 percent of their original sales price after a 3-year, 36,000-mile ownership period. On the other hand, electric cars hold just 17.1 percent of their new price on average during that span.

      Sports cars, luxury cars and executive cars - larger sedans - are some of the best car models when it comes keeping their value.

      Dropping prices around the country
      Depreciation for used vehicles up to eight years old was just 2.2 percent from April to May, one of the lowest month-to-month deprecation rates for automobiles since 2011 and 2012.

      Jonathan Banks, executive automotive analyst of NADA Used Car Guide, said demand for used vehicles climbed in May, which helped limit the amount of depreciation automobiles underwent.

      Banks claimed that the harsh winter weather that kicked off 2014 played a role in the latest flood of demand. Many consumers steered clear of dealerships during the winter months but are finally getting back into the groove of purchasing cars as the weather has improved.

      "Auto demand blossomed in May as warmer weather and the fast approaching summer vacation season pulled more consumers to dealer lots," Banks said.

      The spiking consumer interest in used vehicles boosted NADA's used vehicle price index to 126.8, besting the previous month's record total by 0.5 percent.

      "A combination of pent up demand and restrained supply stemming from severe winter weather drove prices well above expectations in March," Banks said. "Over the past two months, though, prices have steadily realigned with NADA's predicted path."

      What vehicles keep their value best?
      Potential carbuyers looking to buy a new vehicle with the best resale value should consider a pickup truck or SUV. Pickup trucks are known for their rugged designs and typically retain value longer than other vehicles, according to a study from CarGurus.com, which looked into cars built from 2008 to 2012 and their corresponding price changes from March 2013 to March 2014.

      More than 575 models were included in the study and the median model lost nearly 10 percent of its value year-over-year in March.

      The top two vehicles for keeping value were trucks: the 2012 Dodge Ram pickup and Nissan Titan.

      The Nissan Titan, Ford F-150 and Chevrolet Silverado - all pickup trucks - were also high on the list. Other pickup trucks found in the top 10 for retaining value included the Dodge Ram 2500, which finished seventh on the list.

      The top car in the field was the Dodge Charger, which came in third among all vehicles at keeping value.

      Rounding out the top 10 was the Jeep Liberty (sixth), Jeep Wrangler (ninth) and Chevrolet Tahoe (10th).

      The worst cars at keeping value
      Langlely Steinert, founder of CarGurus.com, said cars that load up on options tend to lose value fast.

      "Luxury cars tend to be loaded up with options, and we found that options do not hold value," Steinert said. "When used car buyers go shopping they don't care about (fancy) wheels and navigation. It's about the year and mileage."

      The 2010 BMW 3 series, 2012 Mercedes-Benz E Series, 2008 Volvo XC90, 2009 Audi A4, 2009 Cadillac STS and 2012 Cadillac SRX were among the worst vehicles at retaining value.

    • The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.