Do tech features help or hinder car and truck resale values?
Do tech features help or hinder car and truck resale values?
Technology makes cars more desirable to many buyers. But applied science goes out-of-appointment faster than other parts of the vehicle. So does it assist or hurt the resale value of your vehicle when you sell or trade in? Information on retained value released today by Edmunds.com tin can exist read different means. The clearest reading is that medium, large, and heavy-duty pickup trucks do the best job retaining their value, 57% or more than of the original buy value, at v years of life. Midsize and large mainstream SUVs besides fare well.
In comparison, the categories with luxury vehicles, which are more likely to offer the near engineering science, are in the lesser third of the rankings of the Edmunds 2022 Best Retain Value Awards. It's a measure out of how much of the automobile'southward true market value (what the automobile should be selling for new; not the sticker toll). The average 2022 vehicle volition retain 46% of its value in 2022, Edmunds projects.
Jeep Wrangler
Toyota/Lexus, Honda lead the pack
Toyota (five firsts) and Lexus (3) were the top model in 8 of the 24 categories. Add in Honda (3) and Subaru (1) and Asian vehicles were the pinnacle retained-value vehicle in half of the 24 categories. US and European automakers carve up the other 12 top spots. Two vehicles on the list volition retain more than than 60% of their value later on five years: the Toyota Tacoma midsize pickup (66.0%, main prototype) and Jeep Wrangler midsize traditional SUV (62.7%, above).
The highest scoring vehicle amidst luxury categories was the low-book Mercedes M-Course (inset), which starts at $120,000 and sold 3,600 vehicles last year.
Edmunds does non have a separate category for hybrids or electrical vehicles. Still, the Lexus NX 200t had the best residuum amid entry luxury SUVs and the Toyota Prius C was honorable mention (i.due east., amidst the elevation iii) among subcompact cars.
High-tech features (some) on 5-year-old vehicles
The amount of technology on new cars is ratcheting up. Fifty-fifty compact cars such as the automobile-of-the-year Honda Civic and Hyundai Elantra are offering stop-and-get adaptive cruise control, lane deviation warning, and bullheaded spot detection. It's increasing every year.
"Shoppers interested in technology are probably going to gravitate toward new or almost-new cars." says Edmunds.com feature editor Carroll Lachnit, "But they might be surprised to see the technology that comes with used cars that are four or five years quondam. For example, back-up cameras were available as a standard or optional feature on 58 percent of 2022 model year vehicles, and that number has only grown ever since."
How much buyers will pay for five-year-one-time technology remains to be seen. A fill-in camera is pretty much a backup camera, although newer cars may accept active lane guidance lines. Other tech evolves faster. Prowl control has come down dramatically in cost and now is terminate-and-go, where five years agone information technology was more probable to work only above 20 mph. So sellers who expect to get simply under half their purchase price back on a 2022 motorcar may be looking at something more than similar a quarter of the $2,000 they paid for ACC, or the $395 they paid for Ford Sync. When today's 2022 cars are unloaded in 2022, virtually every car will have forrard collision alert and automatic braking, so the 2022 purchasers may gravitate toward cars with more safety features. They just won't pay 46.half-dozen% (the boilerplate retained value of all 2022 cars) of the 2022 tech option's price. And they'll discount, about to nothing, a music connector that locks the user in to a thirty-pin iPod device.
Subaru WRX
Cars of note and buying insights
While compact cars on boilerplate volition retain 47.6% of value in five years, the Subaru WRX is projected to be worth 58.3% of its original value, a whopping 12.5 per centum points college. A $35,000 WRX would be worth an extra $4,500 over the average compact. The Mercedes G-Class is rated to retain an extra 11.ii per centum points at trade-in, or $thirteen,000 more than than your garden variety luxury SUV. File that under the heading "rich go richer."
The retained values of big trucks and SUVs are amidst the best this year. Edmunds cautions that could alter — slip lower — if fuel prices shoot college over the adjacent five years. A 17-mpg GMC Yukon (52.vi% retained value) looks a lot better running on $2 gasoline than $4 gas.
The fact that Toyota/Lexus grabbed and so many top spots suggests buyers value reliability highly and that helps retained value as much or more than than whatsoever other attribute. No surprise there.
Chevrolet Corvette
Our advice: Think showtime about what tech does for commencement owner
Chevrolet Corvette
Wait for third-party ratings of technology features and options to ratchet up in the side by side twelvemonth or ii. Buyers want advice on what options make sense now, which will lose less of their value over the first possessor's life of the car, which are reliable, and which are likely to exist superceded by vastly improve technology over 3-5 years.
Confronting that you should weigh the value of the technology while you own the car. Near drivers volition do good from blind spot detection, lane deviation warning, and adaptive cruise control if they practise highway driving and accept the occasional long trip. City safety and metropolis braking volition appeal to local commuters and motorcar-pooling parents. Surround view (four) cameras that stitch together an image of what's near the automobile do good people parking in tight spaces and parents who want to brand sure the family domestic dog or child hasn't wandered near a vehicle bankroll up.
Ford Mustang
Top cars and runners-up
These are height top cars and honorable mentions on the 2022 Edmunds survey. While Acura wasn't start in any category, it was honorable mention in three categories, plenty to be the height rated brand amidst luxury vehicles.
Top Brands, Edmunds All-time Retain Value Awards
Luxury: Acura. Honorable Mention: Lexus, Porsche
Not-Luxury: Toyota. HM: Subaru, GMC
Cars
Subcompact Car: Honda Fit. Honorable Mention: Kia Soul, Toyota Prius c
Compact Car: Subaru WRX. HM: Toyota Corolla, Honda Civic
Large Car: Toyota Avalon. HM: Dodge Charger, Chevrolet Impala
Entry Luxury Car: Lexus IS 350. HM: Acura ILX, Lexus ES 350
Midrange Luxury Car: BMW M3. HM: Lexus GS 350, Jaguar XF
Premium Luxury Car: Porsche Panamera. HM: Audi S6, Lexus LS 460
Entry Sport Motorcar: Ford Mustang. HM: Dodge Challenger, Chevrolet Camaro
Midrange Sport Motorcar: Chevrolet Corvette. HM: Porsche Cayman, Porsche Boxster
Premium Sport Auto: Porsche 911. HM: Audi TTS, Audi RS 7
SUVs
Compact Crossover SUV: Honda CR-V. HM: Subaru Forester, Toyota RAV4
Midsize Crossover SUV: Toyota Highlander. HM: Honda Pilot, Kia Sorento
Big Crossover SUV: GMC Acadia. HM: Chevrolet Traverse, Buick Enclave
Entry Luxury SUV: Lexus NX 200t. HM: Acura RDX, Audi Q5
Midrange Luxury SUV: Lexus GX 460. HM: Acura MDX, State Rover Discovery Sport
Premium Luxury SUV: Mercedes-Benz Yard-Class. HM: Lexus Lx 570, Cadillac Escalade
Midsize Traditional SUV: Jeep Wrangler. HM: Toyota 4Runner
Large Traditional SUV: GMC Yukon. HM: Chevrolet Tahoe, Toyota Sequoia
Trucks
Midsize Truck: Toyota Tacoma. HM: GMC Canyon, Chevrolet Colorado
Big Truck: Toyota Tundra. HM: Ford F-150, GMC Sierra 1500
Heavy Duty Truck: Ram 2500. HM: Ford F-250 Super Duty, Ford F-350 Super Duty
Vans
Minivan: Honda Odyssey. HM: Toyota Sienna, Kia Sedona
Small Commercial Van: Mercedes-Benz Metris. HM: Ram Promaster City, Ford Transit Connect
Large Commercial Van: Mercedes-Benz Sprinter. HM: Ford Transit Van, Ram Promaster Cargo Van
Source: https://www.extremetech.com/extreme/226623-do-tech-features-help-or-hinder-car-and-truck-resale-values
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