No matter how much money you have sitting in the bank, your vehicle represents a serious investment, and like any significant purchase, buying a new car requires careful thought and consideration. You have to determine your budget, assess your travel requirements, compare vehicles within your price range, and evaluate individual features like reliability, comfort, fuel efficiency, and capacity. But perhaps the most important factor to take into account is depreciation.
Whether you use your car heavily or not, it will begin to lose value almost immediately from the day of purchase. While this might not affect you now, when the time does come to sell your vehicle, you’ll certainly feel a pinch if you lose thousands of dollars on the deal. In worst case scenario, you might even find that the market value on your depreciated vehicle doesn’t cover the remainder of your monthly payments.
When you consider the fact that an average car loses 60% or more of its value, within the first 5 years of purchase, the importance of purchasing a vehicle that can retain its value over time becomes far more apparent. Indeed, not taking this information into account at an early stage in the buying process may drastically impact your ability to purchase a replacement within the suitable timeframe.
With that in mind, we’ve compiled this list of the highest resale value vehicles in Canada, to help you make the best buying decision.
Beating out close competitors like the Honda Fit and the Kia Soul, the Toyota Prius C Hybrid is rated as the best value vehicle in its price range for 2017. The reason is simple; this car offers great utility and a wealth of features at a fairly affordable price of $25,000.
While the Prius C is certainly smaller, and lighter than other hybrids on the list it makes up for these deficiencies with a best-in-class safety system that includes: pre-collision warning, automatic braking, lane-departure warnings, and automatically adjusted headlights. In addition to those impressive features, the car offers excellent mileage, with an EPA measured at around 48 mpg in city.
In general, Toyota’s are known for their great value retention, and the Toyota Prius C is certainly no exception.
According the NADA Used Car Guide this crossover SUV retains up to 50% or more of its original value, after three years, and with the wild popularity of this model across North America it’s no wonder. The Subaru offers a low price point, great aesthetics and excellent all-round performance in the price range. While the Crosstek is a little slower than other vehicles in its class, it does pack a lot of comfort into its frame to make up for it. Inside the solid chassis you’ll find stitched cloth seats and a 6.5 inch touch screen that’s compatible with both Apple CarPlay and Android Auto.