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waxcrash · Nov 11, 2003, 01:02 PM

Automotive Lease Guide (ALG) just released a new study. The figures from this study are used by banks and finance companies to set prices for leases. Their latest study has found that Honda, Toyota & Nissan will have better resale value after 3 years compared to Chevy, Ford & Dodge.

Here are the results of 2004 vehicles resale value after 3 years:

Compact car
Best: Mini Cooper
Worst: Kia Rio

Midsize car
Best: Honda Accord
Worst: Dodge Intrepid

Sports car
Best: Nissan 350Z
Worst: Mitsubishi Eclipse

Near luxury car
Best: Lexus ES330
Worst: Oldsmobile Aurora

Luxury car
Best: Mercedes CLK Class
Worst: Cadillac Seville

Minivan
Best: Honda Odyssey
Worst: Oldsmobile Silhouette

Compact SUV
Best: Honda CR-V
Worst: Chevrolet Tracker 4WD

Midsize SUV
Best: Toyota 4Runner 4WD
Worst: Isuzu Rodeo 4WD

Fullsize SUV
Best: Toyota Sequoia 4WD
Worst: Ford Excursion 4WD

Crossover utility vehicles
Best: Honda Pilot
Worst: Pontiac Aztek 4WD

Compact pickup
Best: Toyota Tocoma 4WD
Worst: Ford Ranger 4WD

Fullsize pickup
Best: Toyota Tundra 4WD
Worst: Dodge Ram 1500 Series 4WD

scaught · Nov 11, 2003, 01:06 PM

Code:
10 print "cash says:ya, if you want a boring vanilla car"
20 goto 10
30 end

petehammer · Nov 11, 2003, 01:08 PM

Interesting figures, but do people really buy their car based on resale value? If so, that's a truly terrible reason to buy a car. If you like toyotas and they've treated to well, stick to Toyotas. Do not buy a Toyota because of its resale value. Buy a car, keep the car until it's value is under $1000- give to child or charity.

wifedoer68 · Nov 11, 2003, 02:25 PM

They call the eclipse a sports car? I find that strange...

- Ca$h

Why would I argue this? I've never said anything to the contrary. What I've said is why would anyone purchase a brand new car? You drive it off the lot, you lose 3-4 thousand dollars instantly. Lame. Buy something used, either 1-3 years old, or if you have all the service records that proves it was properly maintained, it doesn't matter.

nvaughan3 · Nov 11, 2003, 02:29 PM

Originally posted by petehammer:
Interesting figures, but do people really buy their car based on resale value? If so, that's a truly terrible reason to buy a car. If you like toyotas and they've treated to well, stick to Toyotas. Do not buy a Toyota because of its resale value. Buy a car, keep the car until it's value is under $1000- give to child or charity.

No, its really not a terrible reason. The WSJ had an article today explaining the importance of resale values. That 21,500 mini cooper would cost 289/month to lease while that 12,500 kia rio would only be $279. A much nicer car can be had at virtually the same lease rates if the residual value is higher. Same with Sequoia vs. expidition-nearly $150 savings per month in payments almost solely because of the residual value.

petehammer · Nov 11, 2003, 02:41 PM

Originally posted by nvaughan3:
No, its really not a terrible reason. The WSJ had an article today explaining the importance of resale values. That 21,500 mini cooper would cost 289/month to lease while that 12,500 kia rio would only be $279. A much nicer car can be had at virtually the same lease rates if the residual value is higher. Same with Sequoia vs. expidition-nearly $150 savings per month in payments almost solely because of the residual value.

To lease not buy the car (see title). And no one leases a car based soley on the lease price, right?

nvaughan3 · Nov 11, 2003, 02:45 PM

Originally posted by petehammer:
To lease not buy the car (see title). And no one leases a car based soley on the lease price, right?

Whoops, I misread. That article was fresh off my mind. When buying a car residual is definitaly less important than when leasing. However, it is important. If there was a need to get rid of the car for some unforeseen reason you are much more likely to be upside down (and owe money) on a car with a crappy resale value.

engaged · Nov 11, 2003, 02:55 PM

I bought new three years ago, and I bought Japanese - a Toyota Yaris. At the time they were manufactured in Japan, though they are now made in France.

I thought long and hard before buying new;
-I knew that I'd be keeping the car for several years; have had it for three now
-I needed something reliable; I was doing 80 miles a day to/from work and it had a three year full warranty
-I needed something economical; it does 50mpg (that's UK gallons)
-I needed something cheap to run; servicing is cheap, road tax and insurance the same
-It was a new car, so there weren't any used ones around
-It was also European 'Car of the Year'
-I liked it; still do

Sometimes there is a case for buying new. I know that I'll have it for another few years, and I know that I have something I know inside out. I'll admit that it's more of a town car, but then most of my driving is urban rather than long distance - my wife has a Passat estate for the long journeys... when it's then more economical than mine - ack!

I don't think it's available in the US, so here it is;

petehammer · Nov 11, 2003, 03:02 PM

Looks *kinda* like the Echo. But is it a hatchback? The Echo has an ugly trunk deck on the back.

Does estate, as in Passat estate mean sedan or station wagon in American English?

engaged · Nov 11, 2003, 03:10 PM

Originally posted by petehammer:
Looks *kinda* like the Echo. But is it a hatchback? The Echo has an ugly trunk deck on the back.

Does estate, as in Passat estate mean sedan or station wagon in American English?

[Looks at Toyota US website...] Hatchback; it's like the front two-thirds of the Echo...

[Looks at VW US website...] Station wagon!

petehammer · Nov 11, 2003, 03:15 PM

Originally posted by engaged:
[Looks at Toyota US website...] Hatchback; it's like the front two-thirds of the Echo...

[Looks at VW US website...] Station wagon!

Haha... thanks!

I don't like hatchbacks when they try to make them into coupes (a la the Echo). A hatchback on its own is just a very practical car.