If you are the kind of person who buys a new truck or SUV every three years or so, resale value could (and should) play a big role in your purchase. That way, when you sell or trade that vehicle, you’ll get a good price that you can apply to your next vehicle.
So, if you’re shopping for a new vehicle and hoping to cash in on Black Friday sales, read a little further. JD Power just released its annual ALG Residual Value Awards, which recognizes which models hold the highest percentage of their manufacturer’s suggested retail price following a 3-year period, and the winners are as follows.
As JD Power points out in its press release announcing the winners, the one big shake-up in the SUV segment is that the Ford Bronco beat out both the Jeep Wrangler and Toyota 4Runner in the off-road utility segment. Otherwise, each category winner remains the same from the previous year.
The winners in each SUV category are:
Just as the SUVs awards were virtually identical from 2022 to 2023, the trucks are exactly the same. Again, no surprise, the big winner here is Toyota.
The winners in each truck category are:
These JD Power results actually fall pretty closely in line with a KBB Survey we reported on earlier this year. While reliability plays a small role in these awards, design and overall desirability of the brand also play a key role – and that’s why we see an automaker like Land Rover, which is notoriously unreliable, take two key slots on this list.
We know vehicle purchases are very personal for most people, so buying based off this list isn’t going to happen. But this list might help tip the scales in one direction or another.
Do you pay attention to resale values when buying a vehicle? And do lists like this help you make a decision?