The 2019 Canadian Black Book Best Retained Value Awards winners are in — and for this 12th annual edition, the list features a new category and the second-highest ever overall retained value across all models.
The list reveals to Canadians which four year-old vehicles hold their value best. The data is meant to help consumers with their shopping decisions when considering vehicle loans or understanding the equity position of an existing vehicle loan. In its news release, CBB also notes that negative equity is a growing issue in Canada, with 97 per cent of car owners admitting that more education on loan term and equity position should be made available to them during the car buying process.
“If you take the example of a Best Retained Value winner at a depreciation level of 84 per cent and compare its depreciation to the worst in that class at 41 per cent, at trade in time, there is a massive difference in value of over $14,000,” said Brad Rome, President of Canadian Black Book. “This is a very large sum of money, which is why understanding what cars hold value well, negative equity and when during your auto loan you will be in an equity position, is so very important.”
The company also offers a free Equity Calculator on its website for consumers.
CBB’s Best Retained Value Awards are meant to help educate consumers about lower depreciation models, with data being pulled across 23 vehicle categories. Three overall brand categories are also included in the awards list.
Trucks and SUVs remain the biggest consumer demand over the last four years, according to the list of annual winners. The top segments for value retention are: Small Pickup (73 per cent); Full-sized Luxury Crossover/SUV (63 per cent); and Full-sized Pickup (61 per cent). The one category to buck that trend is the Premium Sports Car segment with a 64 per cent value retention for the overall category.
“Our awards are a factual representation of what has happened in the Canadian marketplace regarding the depreciation of four year old vehicles,” said Brian Murphy, VP Research and Analytics at Canadian Black Book. “We hope the manufacturers are proud of these awards, but perhaps even more so, we want consumers to recognize these awards and use them as reference point to help direct them into smart buying decisions.”
The overall retained value across all vehicle models sold within Canada for the 2019 year is 52 per cent — this is for 2015 model year vehicles MSRP. It is the second highest year on record, based on CBB.
Please see below for the 2019 Canadian Black Book Best Retained Value Award results:
