Report: Camaro, Mustang, and Challenger Retaining Better Resale Values than Regular Cars
Most people buy American muscle cars because they are eye-catching and fun-to-drive, but there may be a new reason to invest in a pony car, as an expert from Kelley Blue Book recently told USA Today that modern muscle cars are holding their value better than normal cars.
Helpful Hints: Follow these 10 simple steps when buying a used car
According to KBB’s expert on vehicles’ residual values Eric Ibara, the Chevy Camaro, Ford Mustang, and Dodge Challenger hold approximately 48% to 49% of their original value after a time period of three years. This is a stark contrast to the residual values of normal cars of the same age, as these vehicles only retain about 40% of their value or slightly lower.
2016 Chevrolet Camaro coupe
Photo: © General Motors
The strong consumer demand for larger vehicles such as crossovers and SUVs are thought to be one reason why used cars aren’t holding as much value. However, America’s three most popular muscle cars all have loyal followings that make them more appealing on the used market. This is because their lower price tags make them more obtainable to consumers with tighter budgets. In addition, muscle cars are not usually offered with the same type of incentives as regular vehicles, which also leads to stronger resale values.
In Kelley Blue Book’s 2016 Resale Value Awards, the redesigned sixth-generation Camaro ranked eighth overall, maintaining 59.5% of its resale value after 36 months and 43.5% of its resale value after 60 months. In the sports car category, the sixth-generation Ford Mustang trailed only the Camaro and Porsche Cayman in resale value. According to KBB, the 2016 Ford Mustang retained 54.6% of its resale value after 36 months and 42.2% of its value after 60 months.
While it is true that muscle car sales are down this year, sales are still strong overall. In the first seven months of 2016, Ford sold 72,530 Mustangs, Chevy moved 42,354 Camaros, and Dodge was able to clear 39,998 Challengers.
So, when it finally comes time to shop for a used car to send your kid off to college with, it might be time to consider a Mustang Coupe rather than a typical choice like a Ford Fiesta.
Fuel For Thought: Learn the benefits of buying used cars
Video: Watch These American Muscle Cars in Action!
News Source: USA Today, Kelley Blue Book
The News Wheel is a digital auto magazine providing readers with a fresh perspective on the latest car news. We’re located in the heart of America (Dayton, Ohio) and our goal is to deliver an entertaining and informative perspective on what’s trending in the automotive world. See more articles from The News Wheel.