What is the resale value of Jeep Renegade car?
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Resale value means the trade value of a good that has already been purchased. If the holder of the good wishes to resell the good to another party, this would be the amount of money that could be expected to be made from the transaction. When you discover you're disappointed with the car you just bought, this is the amount of money you can expect to recover when reselling it. If you borrowed money to buy this car, cars with low resale values can put you "Upside down", meaning you will owe more for the car than what you can expect to get for it. Cars with a high resale value will allow you to pay down your remaining loan. Generally speaking, one doesn't normally need to worry about resale value unless they bought a car because they believed it would suddenly make them "cool".