A reached another milestone earlier this week. My 2004 Honda Civic, which I purchased new in June 2004, passed 111,111 miles, after passing 100,000 in March. The car runs wonderfully still, as I expected it would years ago when I purchased it, and I don’t intend on selling it for a while, if at all.
Although Civics traditionally have great resale values, this did not come into play in my decision. I intended, and still intend, if other circumstances of my life remain the same, to keep the car until it dies or until required maintenance makes the car more of a hassle and more expensive to own. I see no reason to buy or lease a new car every few years. With something reliable, held for a long time, I can keep the cost of ownership down so I have more money to save or to spend on other expenses.
For me, this news is somewhat irrelevant, but I nevertheless find these kinds of ratings interesting. Kelley Blue Book has announced its list of sixteen cars offering the best resale value. Resale value is measured as a percentage of the retail price, based on the estimated sale price of the car at five years.
Here is the list:
- Full-size car: Ford Taurus (36.8%)
- Luxury car: Audi A5 (42.3%)
- High performance: Chevrolet Camaro (44.0%)
- Compact SUV: Honda CR-V (44.5%)
- Compact car: Mini Cooper Clubman (46.3%)
- Hybrid/Alt. fuel: Toyota Prius (44.0%)
- Mid-size pickup: Toyota Tacoma (44.0%)
- Full-size pickup: Ford F-series Super Duty (38.2%)
- Mid-size SUV: Toyota Highlander (41.0%)
- Full-size SUV: Honda Pilot (35.7%)
- Luxury SUV: Lexus RX 350 (42.0%)
- Hybrid/Alt. fuel SUV: BMW X5 Turbo Diesel (42.0%)
- Minivan: Toyota Siena (33.3%)
- Mid-size car: Honda Accord (40.0%)
- Near-luxury car: Lexus IS350 (42.5%)
Is resale value a concern when you make your car purchasing decisions? I prefer metrics such as total cost of ownership and reliability.
Photo credit: labnol
Updated January 16, 2010 and originally published December 3, 2009.