If you’re someone who only uses a car to drive to and from destinations, you may not understand what all the fuss is about when it comes to the resale value of a car.
Well, in a brief explanation, a resale value determines how much your car is worth once you decide to sell or trade it in. Now, we know that a vehicle depreciates the minute it drives out of the showroom, so it makes sense why its value is so important. You want to see where your money is going, as well as how much you can get from an asset you spend thousands of Rands on. No one wants to buy a vehicle that they become stuck with simply because of its low value. The amount you get from it can be used as a deposit on your next dream car.
Several things impact the resale value of a vehicle, such as supply and demand, whether the car has been involved in an accident, its cleanliness, state of the engine, rebates, and overall look of the vehicle. However, the brand also plays a role. If you’re curious about how much your car is worth when you plan on selling your car privately, read below to see which car brands will give you the best value for money.
For decades, Toyota has been a trusted brand for car owners of all ages. Not only has the brand continued to build a strong relationship with its consumers across the world, but it is currently one of the biggest brands that offer sellers the best resale value. Toyota is known for offering its customers three key elements to their cars; durability, reliability, and top of the range safety technology features. These three factors make them a car brand that car buyers trust and want to associate with. Whether you’re looking for a big family car you can take trips with on rocky terrains, or a small city car to take you from point A to point B in the city, Toyota has you covered. Another thing that sets Toyota apart and why it has good resale value is not only is it in high demand but their vehicles are durable which makes them reliable second-hand vehicles. This makes Toyota the ideal second-hand car for individuals who wish to spend less on a vehicle, in turn, increasing its resale value. Knowing that Toyotas are high in demand is exactly what allows you to sell your vehicle at a good price, and be guaranteed a buyer. So, if you’re planning on purchasing a vehicle and looking for one with the best resale value, take a look at the Toyota Hilux and Toyota Fortuner, both have an average of 70 percent resell rate.
The Volkswagen brand has proven itself at producing dependable vehicles all these years. According to a Business Tech’s article, regarding cars with the best resale value in South Africa, the Volkswagen Tiguan came in first place in the rankings with 87 percent resale value. Two additional cars from Volkswagen were in the top five; the Polo Vivo and the Polo Golf. Volkswagen remains at the top for many reasons. Volkswagen ensures they produce high-quality cars with high-tech attributes as their material has been carefully selected for all their models. When it comes to their design, although simplistic, they continue to bring innovation and an edge with every release. Volkswagen also understands that everyone is different, this is why they have a wide range of models fit for; singletons, family orientated individuals, individuals looking for a simple or sports cars have a wide range to choose from. This makes their cars reliable and has a good resale value should you decide to sell it. Over the years, the company has created an exceptional brand that people want to own, but more importantly, they have affordable models that fit the price range and lifestyle of many individuals.
Subarus are widely known for being durable, reliable and practical cars, which is why they have a high resale value. Subaru vehicles maintain a low price by offering All Wheel Drive vehicles (AWD) and basic vehicle features that are in high demand. All this popularity has led to Subaru doing exceptionally well with all their releases. Because it’s a car that is prefered by many, this popularity carries over to second-hand models, allowing people to purchase a vehicle in good condition, yet at an affordable price. But, it’s not just Subaru’s popularity or specs that have made it one of the vehicle brands with the best car resale value in South Africa. The manufacturing company of Subaru strives to establish itself as vehicle manufacturers who produce cars that offer buyers fulfilment by ensuring their vehicles are stylish, have impeccable speed, a great fuel economy and a car that can withstand time and continue to have good resale value; this is why they mainly focus on SUVs as they are aware that SUVs are a popular vehicle type for many individuals, whether they are family orientated or single as it offers them sufficient space and big cars imply luxury.
Having Kia on the list may come as a surprise, but last year, two Kia vehicles managed to make the list of vehicles with the top resale value in 2019. Those two vehicles were the Kia Picanto and the Kia Rio. The Kia Picanto is popular among first-time car owners as it is affordable, offering drivers a modern design in different colours. The brand continues to grow and has become globally recognised, especially in South Africa. Not only does it sell well in the second-hand market, but it also has good outcomes in auctions. Rio, on the other hand, is in demand because it’s a sleek design. This is a huge selling point as it is still considered one of the most affordable vehicles to own. Having those two elements makes it an ideal car for people looking for a budget-friendly vehicle that still manages to create a statement. If you’re wondering why people choose a Kia, well it’s mainly for these five reasons;
- Technology and design continue to grow and they offer top of the range features.
- Its affordability can not go unnoticed, it’s a great deal for many people as vehicles are expensive.
- Kia caters to many markets, it’s suitable for every family and young drivers.
- Their company etiquette goes unmatched as they continue to strive “Building a new future and realizing humanity’s dreams by thinking creatively and tackling challenges head-on.”
- They offer extended warranties and they have cost-effective servicing plans.
For the consumer who is looking for a domestic car brand that offers advanced technology features like mobile WI-FI, Apple CarPlay and more, then this brand is high up on the list of vehicles people buy. The Chevrolet has been around for many years and has built a strong reputation and lasting relationship with its customers. They have ensured that their vehicles are of high quality, dependable, fuel-efficient, low maintenance, spacious interior, captivating design, advanced experience all at an affordable price. If these are things you need from your vehicle, then a Chevy is the way to go.
Honda is a brand that knows exactly what customers want and always makes sure they deliver. They ensure they sell vehicles that have the best technology, an impressive fuel economy, and their vehicles that have consistently been reliable. This is why the Civic sedan and CR-V SUV has become popular, as they offer beautiful, modern design and the latest technology to ensure owners enjoy their rides. This is a brand that will give you your money’s worth once you decide to sell.
Over the years, Hyundai continues to prove themselves, and it doesn’t go unnoticed. This is why the Hyundai Grand i10 made it to the list of vehicles that resold well in 2019. It may be small, but it remains a beast with its stylish design that has a strong build and offers passengers and drivers good safety. Similar to the Kia brand, the Hyundai is popular among first-time buyers but it still has an appeal to many customers who are looking for small quality cars. The reason being is that Hyundai offers vehicles High level of safety such as anti-skid braking, airbags and electronic skid control as a standard for their vehicles. It also has good warranty features, offers fuel efficiency and luxurious designs for its buyers.
As a car owner who’s interested in selling their vehicle, knowing it’s resale value is a valuable tip for selling your car. It ensures that you can get a good deal for your vehicle, which will help you get the car of your dreams. If your vehicle isn’t on this list, don’t be discouraged. Make sure your vehicle is presentable, has all the necessary documents, and that it’s working properly as those elements also go hand in hand with the resale value. But, next time you’re in search of a new vehicle, make sure you take a look at the resale value to ensure you get a better deal in the long run when planning on trading or selling your vehicle.