I usually change vehicles every 5 years since I don't like keeping them for too long. I know its still pretty early to tell but how well do you think the iQ will hold its value and what might be its resale value in probably 5 years.
They usually lose a big amount already as soon as they leave the lot. Plus its really hard to tell how the market will be. Theres a lot of variable factors but seeing as its a pretty good vehicle it should be able to hold its value pretty well.
never buy a vehicle just for the sole purpose of selling it later on as you will always lose money no matter what. i tend to get rid of them after the warranty period is over for whatever the blue book value is. then i just use that money towards a new one.
I know what you guys mean. I didn't mean I was going to buy one just to resell it. Its just that I tend to get bored of whatever I have. So most of the time I don't have it for too long. I was just hoping it would hold its value pretty well. I know some of them hold their value better than others and I was hoping this would be one of them.
If the iQ follows the history of other Scion models the resale value will be great. When the xB,, xA and tC were first released they were being sold for more than the dealer could ask within a few months. The pure pricing of Scion prevents the dealers from making too much profit on the new cars, once they have been sold the sky is the limit.
It's all in the market! I learned a little bit about resell and trade-in values when I was in the market for an iQ. I had the Smart Fortwo to trade. Dealers wanted so little for the Smart because (of course) they want to buy low, and sell high. But according to the database they look at, a national record of vehicles being bought and sold at the moment, the Smart was trading fairly low BECAUSE gas prices were low at the time. It means that most cars with great MPG weren't high demand. Once gas prices start to skyrocket again (and it's doing it, as we speak) certain cars will have better resell or trade-in value, our iQ included! Guaranteed.
I agree with you RexIQ, its all about the timing... with multiple factors (gas, type of car, etc). I actually came out pretty good on my trade-in. I had a 2010 subaru wrx with less than 9k miles on it and I was able to get sticker price for the trade!