KBB lists $17,000 resale value for Chevrolet Volt 05/18/2011
New data from Kelley Blue Book (KBB) suggests that the value of a Chevrolet Volt could drop pretty quickly in the coming years, as the car's first predicted resale numbers are in.
KBB is used by dealers and shoppers around the world to determine resale values, so its predictions usually hold some weight. Right now, the guide is predicting that a $41,000 Volt will be worth just $17,000 in three years. That probably sounds a bit low for drivers, as it works out to just 41 percent of the car's original value. Cars like the Toyota Prius retain 46 percent of their value.
However, many drivers won't be paying $41,000 for their new Volt, as a federal tax credit of $7,500 brings the purchase price down to $33,500. If you look at it that way, the Volt actually does pretty well in resale value, as it's still worth more than 50 percent three years later.
The used car guide cautions that the fate of the car is pretty much intertwined with gas prices. Drivers value the Chevrolet Volt for its fuel economy above all else, so the totals assume that gas will still be $4 per gallon in 2014 (let's hope not). If gas prices come back down to Earth, the Volt will lose value. On the other hand, if gas prices actually rise between now and then, early adopters will likely be able to make a pretty penny when they eventually decide to sell the vehicle.