Cars.com has put together a list of the 2014 models with the worst re-sale value. The information was compiled by automotive industry analysts at ALG and show what percentage of the cars original MSRP it is worth after one year of use.
This is important, because a car with poor resale value may turn out to be a much more expensive purchase than the salesman at the dealership made you think with those strong incentives. So how did General Motors’ offerings fare in this year’s residual value ratings?
In the sake of the Chevrolet Impala Limited, not well. The vehicle — which is the old Impala that is still sold to fleets — is projected to lose 60% of its retail value after the first year. This was topped only by the Chevrolet Captiva Sport, another fleet only vehicle, which will lose 62% of its original value.
Comments
I think Brian Ritter of a few months ago said that residuals didn’t matter because it wasn’t GM’s responsibility; that consumers should just be loyal to GM and keep on buying from them.
2013 Impalas are still available here, and if I had an LTZ ($32,790) that lost 60% of it’s value in a year (down to $13,116), I’d dump it immediately and would start looking at a Accord.
Call it leftovers from “old GM”. That kind of statistic is something I would have expected from Hyundai 10 years ago.
On the other hand, buying a fully loaded Impala Limited LTZ, one year old for $13000 is the used car bargain of the decade.
Point taken.
A quick search of the local used dealer with a similar price gets lots of MY 2012 Sparks, Darts, Fiestas, Accents, Forte’s, Rio’s, 3’s, Altima’s, Versa’s, Corollas, Matrices, a Yaris, and an iQ.
Still, a used Impala shouldn’t be rubbing shoulders on the used lot with the above cars.
If I could find a one year old Impala LTZ without a billion miles for $13k, I’d jump on it in a heartbeat. They’re not competitive in today’s automotive world, true, but they aren’t bad cars. That’s a great value!
Who the heck is Brian Ritter?
And if I “lost” that kind of value I would just keep the car. Why lose the money? Seems like I bought the car because I wanted it.
Haven’t looked in awhile but, Captivas on the Used Lots were the same price as a New Equinox. Guess they lose value to second owner?
Nope, it’s mine! I have been waiting for a 2013 or 2014 that is 1.5 to 2 years old in the 12k ballpark. It might not be modern, but they have all the bugs out of it, it won’t be recalled, its got a Cady V6, and it will be one of the most bulletproof cars on the road.
Point well stated. If it lost that much value one would be better off just hanging on to it for a while. Besides with a build history going back as long as it is, the car would undoubtedly be pretty reliable too.
This is fleet sales. When you jump into this segment you save two ways.
#1 when you buy the car new at a heavy discount. Just do not expect to sell in in 3 years and get anything out of it as you got you money out at the start not the end of ownership.
#2 This is a great car to buy used with low miles as generally they are really cheap.
The bottom line is if you do not want to spend a lot of money and do not wan the latest and greatest then this is a good long term buy. Just do not get tired of it till you wear it out.
These cars are doing their job by still bringing GM money in since there is little cost involved since most of the tooling was paid years ago. Also they are protecting the owners of the new cars in resale.
I took a major blow due to fleet sales on my GTP. I was lucky I had a loaded GTP Comp G as it did give me more value over the standard GP.