When buying a car, one of the key factors to consider is how well the vehicle will hold its value over time, which is referred to as residual value. Here are the cars that rank the highest.

Kelly Blue Book’s Best Resale Value Cars for 2024

Recently, Kelly Blue Book released their 2024 rankings for vehicles with the best resale value over the next five years. Here’s the breakdown:

1. Ford Bronco
   The revamped Ford Bronco took the number one spot. Since its reintroduction a couple of years ago, it’s been a massive hit. Competing directly with the Jeep Wrangler, this off-roader has captured consumer attention, and demand remains high. It's clear why it landed at the top, even though it's still a newer vehicle.
2. Toyota Tacoma
   At number two, the Tacoma is a classic. Known for its longevity and durability, this truck can easily hit a million miles. Dealerships love buying and selling Tacomas because they’re reliable, and customers are always willing to pay top dollar for one that’s well-maintained.
3. Mercedes-Benz G-Class
   This one was a bit surprising, given its high price point and potential repair costs. However, the G-Class holds its value well due to limited production and its status as a luxury vehicle with “star power.” Additionally, the vehicle’s weight makes it eligible for significant tax write-offs for business owners, making it a popular choice for those looking to depreciate its cost in year one.
4. Toyota Tundra
   The Tundra is another Toyota that performs exceptionally well in terms of resale value. Like the Tacoma, it’s built to last, and dealers consistently see strong demand for used models.
5. Chevrolet Corvette
   This American classic made the list, which isn’t surprising given its iconic status. The limited number of Corvettes produced each year drives up demand for pre-owned models, keeping their value high.
6. Toyota GR Supra
   Toyota brought back the Supra, and fans of this car were ecstatic. Though it’s not a cult classic, it has a devoted following. The revival has been well-received, and its inclusion on this list shows that people are eager to own a piece of its legacy.
7. Toyota Prius
   As a hybrid vehicle, the Prius is known for its excellent fuel economy. As fuel prices fluctuate, many consumers look for fuel-efficient options, maintaining demand for used Priuses.
8. Toyota 4Runner
   No surprise here. The 4Runner’s reputation for durability, off-road capability, and reliability, makes them highly sought after in both new and used markets. Additionally, their iconic design and their customers with strong brand loyalty contribute to sustained demand, which helps maintain higher resale values.
9. Porsche 718 Cayman
   Another standout, the Porsche Cayman, landed at number nine. Known for its performance and luxury, it's another example of limited production driving up demand for used models.‍
10. Ford Maverick
    Rounding out the list at number ten is the Ford Maverick, which was a surprise. The Maverick is currently the most affordable and smallest truck on the market, making it an attractive option for many buyers.

The Dominance of Toyota

One of the clear takeaways from Kelley Blue Book’s list is Toyota’s dominance. Out of the top ten vehicles, five are Toyotas. They have such a great reputation for making reliable, long-lasting vehicles, which is why so many of their cars retain high resale values.

The Rise of Classic Comebacks

It’s exciting to see so many “comeback” cars on the list. From the Ford Bronco to the Toyota Supra and Chevrolet Corvette, these revitalized classics are clearly resonating with buyers. It shows that nostalgia, paired with modern technology, is a winning combination for car manufacturers.

Why Resale Value Matters

If you’re buying a car, understanding its residual value is crucial. A car that holds its value well can save you thousands when it comes time to sell or trade in, and it’s especially important for those who lease or frequently upgrade their vehicles.

At The Lasso, we help you get multiple offers from dealerships, allowing you to maximize the return on your car when it’s time to sell. Keep checking the blog for more insights into the car market and tips for getting the best deal on your vehicle.