A Volvo XC60 will depreciate by nearly 60% in just five years of use. At the end of that five year period, its resale value can be estimated at a little over $20,000. This is as long as the car remains in more or less solid condition, and is driven at about 10,000 miles on an annual basis. It is also based off of the presumption that buying a Volvo XC60 brand new would cost someone about a little over $51,000.
Which is Better: Buying a New Volvo XC60 vs. Used?
If you purchase a used Volvo XC60 that is around two years old, you can save over $13,000 than you would need to give over if you were buying it completely brand new. This is a pretty good deal, as two years isn’t that long of a time. Because of this, you can expect to not see too much wear and tear on such a model. Conversely, if you plan to keep the vehicle for about three years, you can expect to end up with nearly $16,000 in terms of depreciation cost.
So you might also consider other vehicles to see if there are any prime spots for depreciation where this cost is the lowest. In general, try to stick to cars that are about three years of age. This is because cars that are entirely new tend to depreciate at a faster rate.
Best Years to Buy a Volvo XC60
We think that the 2016 Volvo XC60 is the best value for money. So for the 2016 model, you will pay only 43% of the price as new. Despite this, you will still likely have almost 60% of the vehicle’s life remaining. The model years 2015 and 2017 are also appealing years for the XC60, as they both provide good values.
It is noteworthy that the Volvo XC60 was released only in 2008. And so it is still in its first generation. When it comes to used vehicles, there are plenty to choose from. So, if you are looking for a used family friendly SUV, it’s certainly worth considering. The 2013 model, for example, came with new materials for the interior, and the redesigned exterior.
Why Buy the Volvo XC60: Top Notch Safety
The Euro NCAP has given the Volvo XC60 five stars for being very safe. All the cars in the range have Volvo’s city safety system, which also includes a version of the automaker’s autonomous emergency braking (AEB) at speeds below 20mph. In the driver support pack that comes with the vehicle, you can also download other tech, like lane keeping aid and adaptive cruise control.
The Importance of Taking Care of the XC60
Another way to ensure that a Volvo XC60 remains in tip top shape and stays valuable as long as it can is to keep good care of it when it’s in your possession. You should make sure that you clean up after yourself and the interior of the car.
Also, it’s a good idea to avoid making any modifications to the car. These changes can sometimes cause the value of a Volvo XC60 to plummet if they are not reversible.