Do Hondas Hold Value? Should you buy a new one?
Honda Motors is a famous Japanese carmaker that was the pinnacle of Japan’s dynamism and economic development in the 1980s and 1990s. After only 25 years in production in the automobile industry, Honda is one of the top 10 producers in the world.
Honda has sustained its long-term success by capitalizing on its ability to navigate skillfully to the competitive global automotive landscape with innovation, financial power, and a focus on Total Quality Management .
The management practices implemented across the entire organization ensure that the company continuously satisfies or exceeds consumers’ needs.
The quality, dependability, durability, and affordability of Honda vehicles are highly known. These elements support an item’s ability to maintain a high resale value despite frequent use . Hondas keep their worth better than many other automobile manufacturers. Though all cars eventually lose value, buyers on a tight budget should consider Honda.
In addition, two of Honda’s most well-liked models, the Accord and Civic, consistently receive praise for their outstanding resale value. As a result, a Honda is a fantastic option if you’re searching for a vehicle that will hold its value over time.
Honda has a long-standing and significant influence in the worldwide automobile industry. However, the company has recently shifted its attention to a deliberate diversification plan designed to cater to various customer tastes .
As a result of this diversification plan, four unique vehicle categories—hybrids, diesel, natural gas, and fuel cell cars have been created.
Your car will perform better, remain in peak shape with regular maintenance, and look beautiful. Utilizing OEM parts and accessories, our service specialists will guarantee the quality of your Honda and assist you in adhering to your recommended maintenance schedule.
Do Honda Cars Keep Their Value?
Honda is a name that represents excellence and dependability. Consumer Reports consistently places many of their models towards the top of the list for reliability and quality, and they have won the “Most Trusted Brand” Award . Consumer surveys have consistently ranked the manufacturer first for dependability for eight years. Moreover, the 2010 Crosstour won the J.D. Power Award for vehicle dependability.
Honda vehicles are built to last. Since so many of them are in the used car market, it speaks volumes about the company’s consistency in maintaining high quality in their cars.
Honda is undoubtedly a market leader when it comes to producing fuel-efficient vehicles. Some vehicles get 30 or more miles per gallon on the interstate, and the Honda nameplate boasts an average of over 25 miles per gallon for off-highway or city driving .
In addition, Honda offers a wide range of hybrid versions for even higher fuel efficiency. At least compared to other cars in the same class, Honda offers excellent quality at an affordable price.
Honda strives to provide vehicles that are on par or better than its competitors while keeping the cost within the range of the average family. Several models are also less expensive to maintain and repair, which increases the appeal of buying a Honda.
As the manufacturer of America’s greenest cars for more than 15 years, Honda has garnered numerous honors for its dedication to environmental preservation. Even the company’s manufacturing facilities aim to be as ecologically friendly as its vehicles.
Which Honda has the Best Resale Value?
The Honda Motor Company has received more Car & Driver Top Manufacturer Awards than other brands. The “10 Best Cars” list has several times included the Civic, Fit, and Accord .
Other award lists include the “Best Buy Award,” “Greenest Automaker,” and “Best Overall Non-luxury Brand.” In addition, the Fit, Civic, Accord, and CR-V are among the models that have routinely won both the ALG Residual Value and the Kelley Blue Book Best Resale Value Awards.
Numerous Polk Loyalty Awards have also been given to Honda, particularly in compact automobiles (the Civic) and small SUVs (the CR-V). According to research, this company has the best customer loyalty of any brand, showing that Honda owners are delighted with their cars .
Of course, the accurate measurement of a company’s success is its many satisfied customers, and Honda has proven it can make items that customer’s desire.
Honda prides itself on its state-of-the-art safety features, with many of its vehicles consistently earning top safety ratings. Civic and Odyssey are the top picks for the Insurance Institute for Highway Safety (IIHS). But all models rank among the best in the industry.
Related: Why is Honda Civic Insurance So High
Honda emphasizes safety and technology, but they also recognize the value of extra pleasures and attractive design. Their cutting-edge, contemporary designs produce consistently fashionable looks that rival many expensive luxury cars. Their larger models compete with these expensive brands for a premium ride and feel while being more compact for easier handling and maneuverability.
Additionally, some more affordable models could come with enjoyable extras, allowing you to enjoy driving even on a limited budget entirely.
Does Honda Accord Have Good Resale Value?
The Honda Accord may be among the most esteemed brands in the auto industry. This vehicle has served as a trustworthy source of transportation for several generations, and countless more have discovered it to be a superb used car purchase. The model is noted for maintaining its value; the Honda Accord has been a leading vehicle for many years .
Since the cost of the New Accord has increased over time, its value has decreased more quickly than it once did. They currently estimate the resale value of 42.7% after 36 months and 31.7% after 60 months. In the long run, the Accord performs exceptionally well.
How Fast Do Hondas Depreciate and a Honda Depreciate After 5 Years?
The top choice for the Honda model year with the best value is 2020. In 2020 it would cost, on average, 89% less than a brand-new model while still having 83% of its usable life left. The 2019 and 2017 model years for Honda vehicles are equally appealing and offer a fair price.
These rankings consider several variables, such as the original new price, the current price, maintenance expenditures. They also consider the remaining years of anticipated overall spending. The top-ranked model year is a Honda model. It delivers the finest price/quality ratio.
The new Honda selection at Underriner Honda is only necessary if you search for vehicles with the best resale value. Honda is known for its dependability. As a result, these cars are known to hold their value and last longer.
So how much does a Honda lose in value annually? It depends on the Honda model you select because different driving styles fit other Honda models . It means that the depreciation of your Honda Civic will be different from that of your Honda Pilot, yet many of the brand’s well-known models have a high resale value.
However, in the first three years following purchase, the value of a Honda car decreases by 50% on average.
To calculate the depreciation of your Honda vehicle, utilize a depreciation calculator. Some of the Honda vehicles with the highest resale values, according to the Model Calculator, include:
- Honda Accord: 45% depreciation over five years.
- Honda Civic: 43% in five years’ worth of depreciation
- The Honda Odyssey has a 49% 5-year depreciation value.
- Honda CR-V: 38% in five years’ worth of depreciation
- Honda HR-V: 43% over five years in terms of depreciation
- Honda Passport: 43% of its value depreciated over five years.
- Honda Pilot: 47% in 5-year depreciation value
- Honda Ridgeline has a 40% 6-year depreciation value.
Hondas are famous for their excellent artistry, dependability, longevity, and affordability. These components help an item retain a high resale value even after heavy use.
Although all cars depreciate over time, Hondas hold their value better than many other makes and models, making them a wise choice for buyers on a limited budget. Honda is an excellent option to consider if you’re looking for a car that will retain its value over time.