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Chevrolet Volt 36-Month Resale Value Set At $17,000

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Chevrolet Volt 36-Month Resale Value Set At $17,000

A 2011 Chevrolet Volt will be worth just over $17,000 after 36 months, the length of a typical lease, says Kelley Blue Book. That’s a 42 percent drop in price from the car’s $41,000 sticker price.

Eric Ibara, director of residual value consulting at Kelley Blue Book, says the residual value projection seems low. But the first 200,000 Volts sold will qualify for a $7,500 federal tax credit, effectively dropping the sticker to $33,500. With this KBB number,  the Volt will hold 51 percent of its value, better than some of its rivals. The Toyota Prius, the industry’s best known hybrid, is projected to drop 46 percent after 36 months. Kelley’s projection assumes gasoline will sell for around $4 per gallon three years from now.

[Source: Car Tech Blog]