Early adopters who pay MSRP for a 2020 Corvette Stingray may not be as foolhardy with their wallets as some might accuse them of being.
As Kelley Blue Book points out: “Many new-car buyers do not realize that depreciation often is the greatest expense incurred by drivers during the first five years of vehicle ownership.”
KBB says an average 2020 model-year vehicle will only retain about 37% of its original value after five years, or translation: a $35,000 new car today is expected to be worth just $12,950 in 2025.
But that’s not always the case.
Kelley Blue Book has just named the new Corvette as the winner in its 2020 Best Resale Value – Sports Car category, then furthermore selected the Stingray to its list of the Top 10 Best Resale Cars overall.
All vehicles in that Top 10 list overall are projected to retain more than 50% of their MSRP. So that means while it may be painful to pay MSRP today for the much-in-demand new Corvette, its expected high resale value could make the initial cost of ownership not nearly as painful five years from now, KBB says.
“Understanding what a vehicle will be worth when going to sell or trade it in can make the difference of hundreds, if not thousands, of dollars in the long run,” Kelley Blue Book says in a story about the recently released lists. “While much of a vehicle’s resale value is based on supply and demand, as well as current and projected future market conditions, vehicles that retain their value best typically are discounted the least and tend to generate high levels of consumer interest.”
The new Corvette is the only car on the Top 10 overall list, where it joins two other General Motors vehicles, the Chevrolet Silverado and GMC Sierra.
Also earning individual category recognition were two other GM vehicles: GMC Yukon – Full-Size SUV and Chevrolet Silverado HD – Full-Size Pickup Truck – Heavy Duty.
This year marks the fourth Best Resale Value: Brand win for Subaru, which previously won the same honors in 2011, 2015 and 2016. For 2020, Porsche celebrates its fourth consecutive win as Best Resale Value: Luxury Brand.
Now in its 18th year, Kelley Blue Book’s Best Resale Value Awards are based on projections from the Kelley Blue Book® Official Residual Value Guide. Kelley Blue Book® Residual Values are established by experienced automotive analysts that review the output from statistical models built upon millions of transactions. Vehicles that earn the highest five-year residual values, expressed as a percentage of their original Manufacturer’s Suggested Retail Price (MSRP), are selected for these prestigious awards. Low-volume vehicles are excluded from award consideration, except in the electric, luxury and sports car categories.
Residual values reflect projected future auction values for vehicles in average condition with 75,000 miles at the end of a five-year lease or ownership period.
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