What is the residual value of the 2024 Chevy Trailblazer?
The residual value of a vehicle is an important factor to consider, especially if you're leasing or planning to resell the car in the future. For the 2024 Chevy Trailblazer, understanding its residual value can help you make informed financial decisions. In this article, we’ll explore what residual value means, how it’s calculated, and what you can expect for the 2024 Chevy Trailblazer.
What Is Residual Value?
Residual value refers to the estimated worth of a vehicle at the end of its lease term or after a certain period of ownership. It is typically expressed as a percentage of the car's original Manufacturer's Suggested Retail Price (MSRP). This value is crucial for determining lease payments and predicting the car's resale value.
How Is Residual Value Calculated?
Residual value is influenced by several factors, including:
- Depreciation Rate: How quickly the vehicle loses value over time.
- Brand Reputation: Vehicles from brands with a strong reputation for reliability and quality tend to retain value better.
- Market Demand: Popular models with high demand often have higher residual values.
- Condition and Mileage: A well-maintained vehicle with lower mileage will typically have a higher residual value.
For leased vehicles, the residual value is usually determined by the leasing company or financial institution based on industry data and market trends.
What Is the Residual Value of the 2024 Chevy Trailblazer?
As of now, the exact residual value of the 2024 Chevy Trailblazer depends on the specific trim level, lease terms, and market conditions. However, compact SUVs like the Trailblazer generally have a residual value ranging between 50% and 60% of their original MSRP after a three-year lease term. This means if the MSRP of the 2024 Chevy Trailblazer is approximately $25,000, its residual value after three years could be around $12,500 to $15,000.
Keep in mind that factors such as mileage, wear and tear, and market trends can influence the final residual value. For the most accurate estimate, consult with your dealership or leasing company.
Why Does Residual Value Matter?
Understanding residual value is essential for several reasons:
- Lease Payments: A higher residual value typically results in lower monthly lease payments.
- Resale Value: If you plan to sell the car, a higher residual value means you’ll recoup more of your initial investment.
- Financial Planning: Knowing the residual value helps you budget for future vehicle expenses.
Conclusion
The 2024 Chevy Trailblazer is a popular compact SUV with a competitive residual value, making it a smart choice for both leasing and ownership. By understanding how residual value works and what factors influence it, you can make informed decisions that align with your financial goals. For personalized advice or assistance with your vehicle, feel free to reach out to Kevin's Autos for expert guidance!
Frequently Asked Questions
Which SUV has the highest rollover rate?
2017 Nissan NV3500
It is classified as an SUV and one of the largest passenger cars on the market. In crash tests, the Nissan NV3500 scored a 2-star safety rating with a 30.6% chance of rollover in car crashes, the highest rollover rating of any truck or SUV currently on the market.
How do I find out my residual value?
To determine the residual value of an asset, you must consider the estimated amount that the asset's owner would earn by selling the asset (minus any costs that might be incurred during the disposal). Residual value is often used when referring to a leased car.
How much is insurance on a 2024 Trailblazer?
As of 2024, average Chevrolet Trailblazer insurance rates at Lemonade range from roughly $47 to $53 a month (learn more about the methodology here). There are lots of factors that impact the cost of car insurance, we'll get more into that below.
What is the rollover rating for the Chevy Trailblazer?
The 2021 Trailblazer also received an NHTSA 4-Star Safety Rating for chance of rollover in an accident, a notable achievement.
What is the residual value of a Chevy Trailblazer?
A 2025 Chevrolet Trailblazer RS has a 5-year cost-to-own of $51,985. After 5 years a 2025 Trailblazer RS will depreciate $15,755 and have a residual value of $13,240. During this time out-of-pocket expenses are expected to total $36,230. Personalize your 5-Year Cost to Own data by logging in.
Is the 2024 Trailblazer a good vehicle?
Chevy's done a great job with the latest 2024 Trailblazer. It isn't the most efficient or the best-performing vehicle in the class, but it is exceedingly competent at nearly everything it does. In the increasingly competitive class of extra-small… SUVs, the Trailblazer is a half-step ahead.
How reliable is the 2024 Chevy Trailblazer?
As a whole, consumers found the vehicle's styling and reliability to be its strongest features and value to be its weakest. 28 out of 36 of owners (78% of them) rank the 2024 Trailblazer five out of five stars.
What is a 2024 Chevy Trailblazer worth?
2024 Chevrolet Trailblazer Pricing
| MSRP | KBB Fair Purchase Price (nat'l average) | |
|---|---|---|
| LS | $24,395 | $23,197 |
| LT | $25,595 | $24,545 |
| RS | $28,395 | $27,202 |
| ACTIV | $28,395 | $27,236 |
Is the residual value of a car negotiable?
Residual value: This figure is also non-negotiable as it accounts for depreciation and industry data. Plus, lowering the residual value too much means the dealership could lose money if you decide to purchase the car instead of turning it in.
What is the life expectancy of a Trailblazer?
around 225,000 miles
According to vehiclehistory.com, a standard 2021 Chevrolet Trailblazer will survive around 225,000 miles with excellent care. If you're an owner, it's valuable to note that maintenance and driving habits will have a significant influence on how many years your Trailblazer can survive.
