Surprising results about pre-owned Toyotas
Canadian Black Book has taken all the mystery out of how to access used-vehicle values. The CBB people have launched a consumer website, complete with a "Trade-in Value" estimator (canadianblackbook.com). It's free and it's easy to use.
Anyone in need of trade-in values can use the site to learn the average asking price for a used vehicle and the future value of virtually every car and truck manufactured since 1997.
"The site's ability to generate a future value for literally every vehicle available in Canada also provides an invaluable tool in determining the total cost of ownership," says auto analyst Dennis DesRosiers.
Interestingly, CBB has so far found that Toyota's recent troubles have yet to have a major impact on residual values. In fact, in CBB's most recent retained value awards, Toyota's performance was "exceptional." Six Toyota vehicles finished first in their segments, while one Lexus model won its category.
Obviously, auto makers who steer clear of perceived and real quality problems are likely to benefit on the residual value front in the coming year. Strong brands with a clean quality and safety slate will only get stronger in the coming year - and that's money in the pocket for owners of vehicles from those brands.
The 2010 CBB Retained Value Awards
Sub-compact: Toyota Yaris
Mid-size car: Honda Accord, Subaru Outback, Volkswagen Passat (tie)
Full-size car: Toyota Avalon
Entry luxury car: Lexus IS Series
Luxury car: Audi A6, BMW 5-Series (tie)
Premium luxury car: BMW 6-Series, Mercedes-Benz CLS-Class (tie)
Sports car: Mini Cooper, Volkswagen GTI (tie)
Premium sports car: Porsche 911
Compact SUV: Toyota RAV4
Mid-size SUV: Honda Pilot
Full-size SUV: Nissan Armada, Toyota Sequoia (tie)
Luxury SUV: Mercedes-Benz G-Class
Minivan: Honda Odyssey
Large van: Dodge Sprinter
Small pickup: Toyota Tacoma
Large pickup: Toyota Tundra
Source: Canadian Black Book. Actual retained value percentages not available.