Presentation of Canadian Black Book’s 2017 Best Retained Value Awards is taking place today in Markham, Ontario. The 10th edition of the awards include the announcement of winners in 20 different vehicle categories, and three winners are being given the Overall Brand excellence designation.
“After a decade of presenting these awards, we’ve established that it is necessary to recognize the brands that really excel in terms of retained value, across all their products,” explained Canadian Black Book President Brad Rome. “That said, our number-one priority in presenting these awards is to help consumers know what models and brands provide the best opportunity to save money in the long term.”
According to a monthly report published by J.D. Power, entitled PIN Automotive Market Metrics, 54% of car loans span 84 months or more, and trade-ins are involved in 43% of all transactions. Unfortunately, in 30% of cases the value of the vehicles is less than the amount still owed on them. This makes the Best Retained Value Awards an invaluable resource for consumers to better understand depreciation and its repercussions on the negotiations they undertake for their next car purchase.
“Depreciation is the single largest expense of owning a vehicle, more than gas, maintenance or insurance. Understanding your vehicle’s retained value is extremely important for anyone researching to buy, sell or trade-in any vehicle,” says Brian Murphy, VP Research and Editorial at Canadian Black Book. “We also recommend that buyers research the future value of their next purchase on canadianblackbook.com to help ensure a positive equity position at the end of their next term.”
Here then are the winners of the 10th edition:
Overall Brand
Automobiles Subaru
Trucks/SUVs Toyota
Luxury Porsche
Model
Sub-compact:1st-Toyota Prius c 2nd - Honda Fit 3rd-Kia Soul
Compact :1st- Subaru XV Crosstrek 2nd- Honda Civic 3rd-Subaru Impreza
Mid-size car:1st-Toyota Camry 2nd-Honda Accord 3rd - Subaru Outback
Full-size car: 1st- Toyota Avalon 2nd- Dodge Charger 3rd- Chrysler 300
Entry luxury car :1st - Volvo XC70 2nd- Lexus Série IS 3rd- Lexus Série ES
Luxury car : 1st - Audi A7 2nd -Audi A5 3rd -Lexus Série GS
Premium luxury car:1st -Porsche Panamera 2nd- Mercedes-Benz Classe CLS 3rd -Lexus Série LS
Premium sports car: 1st -Porsche Boxster 2nd -Porsche 911 3rd- Nissan GT-R
Sports car:1st- Dodge Challenger 2nd- Audi TT 3rd- Ford Mustang
Small pickup:1st- Toyota Tacoma 2nd -Nissan Frontier 3rd -Ridgeline
Full-size pickup :1st- Toyota Tundra 2nd- GMC Sierra HD 3rd- Chevy Avalanche 1500
Minivan : 1st- Honda Odyssey and Toyota Sienna 2nd-Nissan Quest
Full-size van:1st- Mercedes-Benz Sprinter 2nd- Nissan NV Van 3rd- Ford E Series Van
Compact commercial van:1st- Nissan NV200 2nd- Dodge RAM Cargo Van 3rd- Ford Transit Connect
Compact SUV :1st- Jeep Wrangler 2nd- Nissan XTerra 3rd- Toyota RAV4
Mid-size SUV:1st- Toyota FJ Cruiser 2nd- Toyota 4Runner 3rd- Toyota Highlander
Full-size SUV :1st- Toyota Sequoia 2nd- GMC Yukon XL 3rd- Chevrolet Suburban
Compact luxury SUV:1st- Audi Q5 2nd- Mercedes-Benz Classe GLK 3rd- Volvo XC60
Mid-size luxury SUV :1st- Porsche Cayenne 2nd -Lexus Série GX 3rd- Lexus Série RX
Full-size luxury SUV:1st- Mercedes-Benz Classe G 2nd- Land Rover Range Rover 3rd- Lexus Série LX
Certain vehicles categories are prone to greater depreciation than others; here are some of the categories, with the percentage of retained value in comparison with their MSRP (over a period of four years):
Compact minivans: 73%
Full-size luxury SUVS: 60%
Full-size minivans: 59%
Full-size SUVs: 58%
Sub-compacts: 37%
