Which vehicle models have best resale values?

J.D. Power ranks Lexus, Honda, Toyota tops

So you’re not the type who keeps a car forever. If you like to trade for a new vehicle every few years, resale value is important.

Based on “best resale value,” you might consider buying a Lexus, Honda or Toyota. The three brands were the top recipients of the 2018 J.D. Power Resale Value Awards presented to automotive manufacturers earlier this week.

The awards recognize vehicles with the “best resale value” across 24 model-level vehicle segments. Lexus received five, the most model-level awards, followed by Honda and Toyota with four awards each.

Of all individual vehicles analyzed for resale value, the Ram 3500 had the best value, according to J.D. Power.

Dealers and distributors of some award-winning models in South Florida say they have seen the value hold up on these vehicles over the years.

Jim Dunn, vice president and general manager of JM Lexus, said “when you think Lexus, you think luxury, but the brand is also widely recognized for its safety features. … Those attributes don’t go away when you purchase preowned models.”

Rick Case, founder of Rick Case Automotive, which is a major Honda dealer in South Florida, said he recalls when the Honda Civic was introduced in the 1970s.

“Ever since Honda has had a reputation as a reliable car that continues to run trouble-free for years. This reputation has made people comfortable buying Hondas that are 5 and even 10 years old, which in turn drives the resale value up,” he said.

On Toyota’s ranking, the brand has been the top-selling one in South Florida since 2010, according to Hank Grooms, group vice president for Southeast Toyota Distributors. Toyota sales so far this year represent nearly 17.5 percent of the total market as of July,