Reliable Used Cars With Good Value Retention
Posted on September 22, 2022 by Rick Griffith
If you’ve ever owned a car, you’re probably all too familiar with the concept of vehicle reliability and value retention. That’s because most of us get conditioned to purchase a reliable vehicle that retains value.
The problem every car driver and owner has, though, is cars depreciate so quickly it can be challenging to gauge which cars will hold their value, even if the vehicle is highly reliable. That’s why today, we hope to demystify the factors that go into how one vehicle retains good value while another does not.
Reasons A Car Retains Value
There are many ways to rationalize why one car retains value while another does not. But in truth, the industry uses a prescribed list of factors that include:
- Vehicle Color
- Vehicle Condition
- Brand Perception
- Industry Conditions
- Market Trends
- Vehicle Options
The color of a car impacts a buyer’s decision if it is any color other than white, silver, or black. Of course, much of that gets driven by consumer popularity. But what’s more, the two safest colors to drive are also white and silver. That’s because they are more reflective and less likely to blend in with the surrounding environment.
Most cars get assessed upon visual inspection as to whether they will hold good value. Organizations like Kelley Blue Book or NADA give owners and dealerships the option to evaluate a car based on a sliding scale of excellent, good, fair, or poor.
But in reality, it’s best to ask for a vehicle history report to confirm:
- Odometer readings
- VIN verification
- Stolen vehicle
- Manufacturer buybacks
- Branded titling on cars that get written off due to flood or fire, odometer rollbacks, vehicle collision, or sold for scrap
- Title transfers
- Lien information
Well-known car manufacturers, like Ford, Jeep, and Chevrolet, hold great interest for used car buyers. That’s because these brands are known for their quality and reliability.
- Ford’s cars, like the Explorer, F-150, or Mustang, retain their value as high as 55%
- Jeep vehicles hold their value as much as 58%
- Chevrolet vehicles are known for good value retention of up to 53%
If the used car market gets inundated with a specific vehicle make, that can drive down supply and demand. Therefore impacting the value retention of some cars.
Market trends driven by consumer popularity are on the opposite side of that spectrum. If a specific vehicle model is popular among consumers, like the hybrid SUV–Jeep Compass–it will retain excellent value.
Things that help retain a car’s value are its options. For example, if a used car buyer is interested in a Chevy Malibu with a 2L 4-cylinder 6-speed automatic with front-wheel drive; it could be the difference between having cruise control, AC, power windows, and power door locks that makes or breaks a buyer’s decision.
Buying A Safe and Reliable Used Car
If you’re looking for used vehicles that get extensively reconditioned to be safe and reliable, contact the Car Credit team at (417) 624-8500. As a Buy Here Pay Here dealership for the four states region of southwest Missouri, Car Credit has a wide selection of sedans, SUVs, and trucks to choose from in inventory.
Regardless of price, every vehicle sold at the Car Credit dealership undergoes an exhaustive safety inspection to protect you and your family. In addition, the dealership thoroughly reconditions every car for reliable transportation wherever you go. To get started, apply online today!