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Buying your first car can be exciting and you need to keep a few things in mind before you buy your new set of wheels. It’s important that you look into the car’s fuel efficiency, hidden costs, insurance and resale value. Look for a car with a high resale value that you can easily sell at any online car auction or used car dealership. Here are the top three economy subcompact cars with the highest resale values in 2016.
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Honda Fit leads the subcompact car segment, with an average resale value of 53.3 percent after three years and 37.0 percent of the car’s original price after the first five years. This car is surprisingly well endowed with space and ergonomics. The Honda Fit looks sharp and drives smooth. The car strengthens Honda’s reputation of building long lasting vehicles. The base model of a new Honda Fit starts at 16,500 USD and the top models are available at 22,000 USD.
With an average resale value of 43.2 percent after three years and 31.6 percent of the on road price at the time of buying, after the first five years the Toyota Yaris comes in second in this segment. The on board audio system comes with a 6.1 inch touch screen display. It boasts a bluetooth, a voice recognition, an HD radio, a USB and an iPod interface. The 2016 Yaris comes with nine air bags, stability and traction control, and therefore, safety is not a big concern. The base model of a Toyota Yaris, just out of showroom, is 15,750 USD and the top model can be bought for 18,500 USD.
After three years the Scion iA’s average resale value is 46.0 percent , and 31.0 percent of the original buying price after the first five years the iA comes in with a close finish right behind the Yaris. If you’re cruising under 18 MPH the car will brake automatically if its laser scanner detects an upcoming imminent collision. It has a base model price of 16,000 USD and tops out at 18,000 USD with an automatic transmission and navigation mode.
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Buying a car according that’s within budget and being able to attain that balance between mileage, power, comfortability , style and a high resale value can be a daunting task. You don’t necessarily have to buy a new car. Look for salvage cars if you cannot afford a new one, but be sure to stick to reputable dealerships when buying a used car. Even better, buy from an online car auction that not only offers you a great deal, but also allows you to choose from a wide range of used cars.