No one should mistake a car for a solid investment. Cars fluctuate in value, and no one can crash into your parked savings account and cut its future value in half.
But savvy car shoppers consider the likelihood that they’ll get some of their money back when they’re done with their new car. Resale value factors into many car shoppers’ decisions.
According to researchers from J.D. Power, those shoppers should buy Lexus and Honda vehicles.
The J.D. Power 2024 U.S. ALG Residual Value Awards are out. And, like any good investment advice, they’re unsurprising and consistent over time.
“For a fourth consecutive year, Lexus receives the brand award for best premium brand, while Honda receives the award for best mass-market brand for a third consecutive year,” the researchers write.
Kristen Lanzavecchia, director of customer success at ALG, says the predictable value of their cars results from their, well, predictable approach to designing and building them. “These brands took a measured approach in their freshening of products, trim levels, and powertrains, resulting in higher residual performance and better long-term value for their customers,” she says.
Researchers evaluated 293 models, considering their “used-vehicle performance, brand outlook, and product competitiveness,” J.D. Power says.
Awards For Specific Models
Beyond the brand level, researchers singled out some specific models for recognition. Model award recipients include:
- Honda: Civic, Accord, CR-V, Passport
- Lexus: IS, NX, LX, and RX
- Toyota: GR Supra, Tundra, Tacoma, Sienna
- Chevrolet: Corvette, Trax
- Subaru: WRX, Crosstrek
- Land Rover: Discovery
- Range Rover: Evoque
- Jeep: Wagoneer, Wrangler
- Acura: Integra
- Ford: F-150 Lightning
- GMC: Sierra 3500 HD
- Jaguar: XF
- Kia: Telluride
- Mercedes-Benz: AMG GT 4-door Coupe
- Ram: ProMaster
- Tesla: Model Y
