Canadian Black Book 2017 Best Retained Value Awards
The 2017 Canadian Black Book Best Retained Value Awards mark the tenth annual presentation of the sought after auto industry accolades. The tenth anniversary awards were announced today in 20 vehicle categories and for the first time, three ‘Overall Brand’ winners.
The first ever Canadian Black Book Best Retained Value ‘Overall Brand’ Award for Car goes to Subaru; in Truck/SUV the winner is Toyota; and in Luxury the Award goes to Porsche.
“After a decade of presenting these awards, we’ve established that it is necessary to recognize the brands that really excel in terms of retained value, across all their products,” says Brad Rome, President, Canadian Black Book. “That said, our number one priority in presenting these awards, is to help consumers know what models and brands provide the best opportunity to save money in the long term.”
According to J.D. Power’s monthly PIN Automotive Market Metrics report, 54 per cent of auto loans are 84 month terms or longer, with 43 per cent of all car deals involving a trade-in. The really concerning issue is that in 30 per cent of those deals, the vehicles are worth less than what is owed on it. The Retained Value Awards enlighten consumers on the importance of understanding depreciation and the difference it can make on negotiating your next vehicle purchase.
To see how Toyota stacked up, click here.