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Every vehicle you buy should be purchased with the intention of eventually reselling it. In other words, you should always buy cars with the best resale value. That might seem counterintuitive—after all, cars are long-term investments—but it makes sense given what we all know about the auto industry.
Specifically, and unlike most investments, cars do not appreciate. They depreciate.
The moment you get the title to your car and drive a car off the dealer’s lot, it starts to lose its value. There are a few exceptions to this rule (usually classic muscle cars), but, in general, this is true for all automobiles.
If you’re worried about making a poor investment choice, you could always ask a vehicle expert or conduct your own research. To help you get started, though, we’ve compiled a list of the top 5 cars with the best resale value in 2020. We’ve combed through all body types, price ranges, makes, and models to give you the best information.
Top 5 Cars with the Best Resale Value
Ford Ranger: Pickup Truck with Class
When you think about automotive resale values, you always want to consider long-term worth. On average, most people keep their vehicles for about 6 years. This means that cars with a good resale value for 5 years won’t cut it.
That’s how the 2020 Ford Ranger earned its place on this list. After dropping off the grid for close to a decade, this beloved pickup truck is back in action and better than ever. With 21 and 26 miles per gallon (mpg) for city and highway, respectively, it’s more environmentally friendly than your older pickups but has just as much stability.
Toyota 4Runner: History of SU-Victory
The Toyota 4Runner has a long-standing history of great resale value. Since it first hit the market in 1984, its resale values have been pretty much guaranteed. At 16 mpg in the city and 19 on the highway, this SUV won’t get you any points with fuel efficiency. Where it really succeeds is power and versatility. Because it’s basically just a truck with a fiberglass fitting, the 2020 Toyota 4Runner can be an offroader’s dream as much as a family vehicle.
Honda Odyssey: Soccer Moms and Baseball Dads
Speaking of family vehicles, if you want a minivan that’s certain to net you some cash when the kids leave for college, the 2020 Honda Odyssey is for you. Voted the best minivan of the year by both Kelley Blue Book and Business Insider, this car is destined to get your family where it needs to go and save you money in the process. With up to 8 seats and roof crossbars for all of your vacation needs, what’s not to love?
Porsche Panamera: Luxury Lovers
Of all the brands on the market, Subaru and Porsche have the largest percentage of vehicles that retain their value. That’s why we recommend the 2020 Porsche Panamera if you’re in the market for a luxury vehicle.
It’s the top of the top end for both price and performance. At a little over $90K on average, though, we don’t recommend this purchase for the faint of heart (or wallet).
Subaru Legacy: Simple Success
If you don’t need the seating capacity of a minivan or SUV, you aren’t planning on hauling anything, and you don’t have the extra cash for a luxury vehicle, your best bet is the 2020 Subaru Legacy. It’s fast, it’s sleek, it’s eco-friendly, and it’s reliable. Even better, though, it’s a mid-size car with the body benefits of a compact car and the storage capacity of a larger auto.
Ready to Upgrade?
If you own one of these vehicles, it might be time for an upgrade. With the financial market being what it is right now, there really isn’t a better time to buy. If you’re looking to sell your vehicle to a junk car buyer or on craigslist online, we know just the place.
Keep checking our site for more articles to help you manage your personal finances.