Wednesday, May 6, 2015

The most boring post of all time.

Today I was watching outside my office window, waiting for a friend to come pick something up from me. As I was waiting I saw a Honda pull up and automatically stood up… and then remembered I have no clue what that friend drives. I’m conditioned to believe anyone in my friends circle will drive a Honda or a Toyota. So this natural reaction (alongside seeing a ford commercial twice this week saying that Ford is the car that American’s buy and then buy again because they like them so much), had me wondering about cars in general. What the most popular cars are nationally, which cars hold their value best nationally, and more personally important what the trend is with my friends and what they drive.  

Most popular car among my friends:

Total friends polled : 100

Honda/Acura – 15
Chevy – 13
Toyota – 13
Ford – 8
Nissan -7
Dodge – 5
Jeep – 5
Mazda – 5
Audi – 4
Hundai -4
Mini – 4
Crystler – 3
VW- 3
Kia – 2
Mitsubishi – 2
Pontiac – 2
Prius – 2
Scions - 2
Infinity -1

 (Note: I got through 10 friends before I even hit a dodge person-which is the most purchased vehicle in AZ)
(Side Note: I went through 23 friends before I hit a friend with a Ford- and ford is the most purchased vehicle in America)

(side side note: Referencing 'marking down' friends cars as “Hit” sounds like a collision so maybe I should rethink my verbiage)

The above list came from me going through my Facebook friends and It’s sort of funny to realize even if I barely interact with certain people I know what they drive.
As you can see my natural impulse to believe my friend was driving a Honda is well founded, as 15% of my polled friends drive Honda, closely followed by 13% driving both Toyota and Chevrolet vehicles.

In general anyone I have talked to about this, which has only been like 4 people, is in agreement that American’s drive Nissan’s and Toyota’s. We were all wrong most American’s buy Ford, Dodge and Chevrolet NOT Toyota and Nissan, Nissan isn't even close to being on the list of widely popular purchased vehicles in the USA.

Reference this map and this website that I got the map from.



In addition to being curious about my friends “Rides” and if Ford really is the most purchased car in America, another reason I began looking into this information is because I recently refinanced my car for a lower APR, and the gentleman helping me told me flat out that my car brand is the worst at retaining its value. This makes me laugh because I’m driving a dodge, and if that’s the case, most Arizonans along-side me are probably “upside down” with the value of their car. Unfortunately Dodge seems to be cheaper off the lot then cars that retain their value better, I feel like I got duped by the system.

This then leads one to wonder, Which vehicles retain their value the best.

If you drive a sedan, I have bad news for you… you’re car simply doesn't retain its value as well as trucks and Crossover SUV’s  the top ten list of cars found on Kelly Blue Book that will retain their value for 2015 are:


Resale Value
·         at 36 months: 74.9%
·         at 60 months: 60.4%



Resale Value
·         at 36 months: 69.9%
·         at 60 months: 58.9%



                      Resale Value
·         at 36 months: 68.3%
·         at 60 months: 58.4%



Resale Value
·         at 36 months: 67.6%
·         at 60 months: 58.3%



Resale Value
·         at 36 months: 66.2%
·         at 60 months: 57.5%
·          


Resale Value
·         at 36 months: 63.7%
·         at 60 months: 55.6%


.
Resale Value
·         at 36 months: 63.1%
·         at 60 months: 54.7%


Resale Value
·         at 36 months: 63.2%
·         at 60 months: 54.3%


Resale Value
·         at 36 months: 65.6%
·         at 60 months: 52.0%



Resale Value
·         at 36 months: 65.3%
·         at 60 months: 50.8%


I found the following excerpt from the above referenced article interesting:

“ 2014 was the first year "crossover" SUVs like the Honda CR-V — New York's most favorite new vehicle — surpassed sedans in popularity. Among American vehicles, only models like the Chevy Equinox and Ford Escape made the top-five lists in any given state.”

My guess is because people are figuring out that these purchases hold their value. even though they are $5000 more when purchasing new.

So naturally after seeing which cars top the charts I had to search for those cars that depreciate in value rapidly.

Here is the very sad list. (Moral of this story stay far away from these vehicles or buy after 5 years old.)

#1 Kia Sedona





Five-year depreciation: 80% 

Retained value after two years: 47%

Retained value after four years: 28%

#2 Lincoln Town Car


          



Five-year depreciation: 79%
Retained value after two years: 47%

Retained value after four years: 29%

#3 Isuzu Ascender

 

Five-year depreciation: 77%

 Retained value after two years: 46%

Retained value after four years: 29%

#4 Dodge Durango








Five-year depreciation: 76%

Retained value after two years: 44%

Retained value after four years: 29%

#5 Ford Econoline



Five-year depreciation: 76%
Retained value after two years: 44%

Retained value after four years: 29%

#6 Suzuki Reno


Five-year depreciation: 75%

Retained value after two years: 47%

Retained value After four years: 32%

#7 Chevrolet Uplander

Five-year depreciation: 75%

Retained value after two years: 47%

Retained value after four years: 32%

#8 Suzuki Forenza





Five-year depreciation: 75%
Retained value after two years: 46%

Retained value after four years: 31%

#9 Mercury Grand Marquis



Five-year depreciation: 75%

Retained value after two years: 46%

Retained value after four years: 31%

#10 Suzuki Aerio



Five-year depreciation: 74%

Retained value after two years: 49%

Retained value after four years: 33%

In Case you are wondering a car should loose about 65% of its value by the 5 year old mark. 

I'm happy to report that I cant think of a single friend who owns any of these cars so I don't have to feel bad for anyone... but it is a good thing you didn't buy that cute Chevrolet Uplander PHEW! 

I think everyone can confidently go forward and never buy a Suzuki. (my guess is they spent all their energy on making crotch rockets.) 


When I started writing this I entirely intended to just throw the information away. But it kind of snowballed and consumed my day. I'm not even interested in buying a car right now. It just seems silly to have all this information and not share. One last thing I noticed about the cars that have better value, is that they are all cars that are tried and true, and have been around for many many years!

1 comment:

  1. This was a fun read! Thanks for getting my mind off of houses, Clary! The truth about Toyotas and Nissans is that they're reliable, and should be the only cars Americans drive. But Dodge as the #1 AZ makes sense, because of the amount of ranch land in AZ. Wranglera hold their value because even without AC and covered in scratches and dings, they are still good for rock crawling!

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