So what's it mean to win a Best Resale Value Award? James Bell, an executive market analyst with Kelley Blue Book's kbb.com, explains in an interview what it takes to win and why it's so important.
How do you come up with award winners?
We look at every vehicle on the road and we try to drive as many as we can. We do a lot of day-to-day life with the vehicle. We do a lot of study of how predecessor vehicles that have the same engine, transmission or componentry - how they stayed together. And how the market reacted to certain technologies - whether they were appreciated or ignored. Then we dig into the data, look at market trends, supply, fuel costs over the next year, availability of credit to buyers, and put all these factors together and put out our best projections.
Why is resale value important?
Resale value is one of the biggest overall costs of ownership, when making a purchase, that is very rarely considered. Buying a vehicle is an emotional, exciting experience so resale's easy to ignore. “Oh, I will never want to get rid of this vehicle,” or “This will just be everything I need,” and we get caught up in the moment of it. But things change. Families grow. They shrink. Jobs change. You may need more of a commuter vehicle or less of a commuter vehicle. You need to consider resale value because if things change, you don't want to be caught off guard if those things do come around. You have to think down the road if the vehicle is going to reward you from a resale-value perspective.
Why did you choose the Ford Taurus to win the Best Resale Value Award in the full-size car category?
We like it. We think it's an excellent redo of a venerable Ford name. When it was announced that the Taurus name was going to be attached to this all-new vehicle, there were skeptics because the Taurus name had definitely been scraped along the ground a little bit as a rental car, and had lost its luster. But this new vehicle just brings so much to the table that you have to consider it will pull the Taurus name back up to its prominent place. The new Taurus seems to us like a great combination of value, technology and style all wrapped up in a very good price. It's really the kind of vehicle we believe is going to catch on in the marketplace and, therefore, its resale value should also do very well.
Why did you tap the Ford Super Duty to receive the Best Resale Value Award in the full-size pickup category?
We've seen a big shift in why people are buying trucks. And thankfully, people are not buying them as commuter vehicles any longer. They've kind of lost their social shine as being a cool day-to-day vehicle. Now people are buying them for what a pickup truck should be used for. Which is for work. For getting jobs done. For play with big toys. Ford F-150 has always done very well in that space. But the Super Duty, we feel, really captures that “get the job done” spirit and, therefore, we feel like you've got something that's really going to hold its value over time.
Vehicle's projected resale value is specific to the 2010 model year. For more information, visit Kelley Blue Book's kbb.com. Kelley Blue Book is a registered trademark of Kelley Blue Book Co., Inc.