Resale Value of Cars in British Columbia

The Cost of Depreciation

Whether finally getting the gift you’ve always wanted or changing up your ride to match the new leaf you’re turning over, winter is typically a great time to shop for a new or used vehicle. When you’re in the market for this vehicle, however, there are a lot of things to consider, most of all what value you’ll get from the car you drive in. Sometimes that question is as important as the value of the car you take home.

As we all know, the actual cost of any car is the difference between what you pay when you buy it and what you get by trading it in.  Brian Murphy of the Canadian black book says, “Depreciation is the single largest expense of owning a vehicle, more than gas, maintenance, or insurance. Understanding your vehicle’s retained value is extremely important for anyone researching to buy, sell, or trade-in any vehicle.” As a thumbnail, you can expect the following averages to dictate resale values over a four year period:

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When it comes to retained value, there is no way to protect against depreciation; however, certain vehicles give the seller an edge—their value tends to depreciate more slowly than the average vehicle.  So yes, certain cars can command prices closer to the purchase price, and since these cars depreciate less quickly, when it is time for your next vehicle, you’ll probably trade at a smaller loss. With that in mind, the following brands are highlighted to help you assess the depreciation of your current vehicle as you consider which vehicles among our used inventory are the best fit for your goals in retained value.

USED TOYOTAS:

Fresh off Black Book wins for best-retained value among subcompact cars, small pickups, and full-sized pickups, Toyota leads the pack for retained value. Across vehicle classes, Toyotas stand out for retained value, in particular, pickups and SUVs. It’s been reported that the average Canadian car loan is eight years, then copping a pickup truck or SUV from the Toyota brand is the most likely way to get close to what you want. Some strong performers for this brand include the following:

      Best Retained Value:

  • TACOMA
  • FJ CRUISER
  • TUNDRA
  • Prius C

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USED JEEPS:

Jeep is an iconic vehicle brand, building vehicles for the rigors of the Canadian winter but a match for the sporty joys of the summertime. The Wrangler, in particular, is consistently at or near the top for retained vehicle value year after year.

     Best Retained Value:

  • WRANGLER
  • COMPASS

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USED DODGES:

Dodge cars and Ram vans all do well for retained value. Among sports cars, the Charger has lead the pack for retained value five years in a row, retaining 66% of its value over 4 years. The Dodge Challenger is also a perennial favorite. What makes Dodge stand out as well is the fact that its Ram Cargo Van is also a perennial champion for retained value in its category.

     Best Retained Value:

  • Charger
  • Challenger
  • Ram Van

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