Honda vehicles hold a longstanding reputation for quality, durability, and affordability. Whether you purchase one of the Honda Accord sedans or one of the compact SUVs like the CR-V, you can feel confident that the vehicle is built well. These characteristics are known for extending a Honda vehicle's value across its lifespan.
Compared to other affordable models, a Honda vehicle is able to hold its value years after its original purchase date. This factor makes Honda models a valuable and ultimately affordable option for those who are looking for quality on a budget.
Though almost all cars experience depreciation to some extent, the Honda resale value is strong. In the future, when you trade in your Honda model for a different vehicle, you'll save money on your new car due to the high value of your old Honda model. We'll explain how Honda models hold their value and how Honda's depreciation compares to other brands. We'll also go over what specific Honda models hold their value particularly well.
If you're looking for an affordable car that holds its value well over time, Honda models are one of the best choices on the market. Though some other brands might offer cheaper models, Hondas typically retain a lot of their value. So, when you go to resell the car in the future, you won't lose out on the money you spent buying the vehicle, as you should get a decent trade-in price.
Honda cars are built to last a long time, so the Honda resale value is particularly high. Your Honda model will continue to run efficiently and have high-performance levels years after you buy it. This durability and reliability make Honda vehicles popular used cars. You will often find Honda Accord and Civic models on used car lots, as they continue to perform at a high level.
One of the reasons why Honda models retain their value so well is their fuel efficiency. There are a few hybrid models offering great performance, like the Accord hybrid. The 2022 model year Accord hybrid has an estimated 48/47 city/highway mpg rating. With such great fuel efficiency, used Honda models remain in high demand.
In general, the Honda resale value is high. However, the sedan and small SUVs typically are some of the best options if you're looking for a car that won't lose its value. These compact and midsize cars have a lot of benefits to offer drivers. Drivers enjoy fuel efficiency, easy handling and maneuvering, contemporary style, and helpful technology features in these types of Honda models.
Some of the best Honda models that retain value well include
The level of depreciation will depend on the model of the brand. In general, though, Honda's line-up is filled will with cars that hold value well. In comparison, some other well-known brands typically don't hold their value well over time. For example, the Volvo brand, while high-end, tends to depreciate significantly over the course of the first five years. If you're looking for the best investment for your money, typically buying a luxury car will not be the best option.
On the other hand, opting for the cheapest car on the market will also depreciate significantly. If you're looking for the most affordable option that is a good investment of your resources, you should aim to purchase a car that mixes affordability with value. Typically, the Honda and Toyota brands are the best options on the market for this type of vehicle.
Honda is an affordable brand, though its models may not have the cheapest price compared to similar models on the market. However, the Honda resale value doesn't decline significantly over time. So, when you go to trade in your Honda model for a different car, you'll have a valuable vehicle that fetches a good price.
Though Honda models are affordable, you may still want to find ways to save money or find the right option that works with your budget. Opting for smaller vehicles is a great choice if it fits your lifestyle. However, if you're looking for ways to save money in your daily life, buying a used hybrid model is a smart choice. With Honda Hybrids, you can save a lot of money on gas.
Additionally, it's always a good idea to check with Honda dealerships about their previously owned models to see if any are a good fit for your situation. By buying one of the certified pre-owned Honda models, you'll have peace of mind knowing that you won't have to deal with any unexpected expensive repairs, as there is a warranty.
Though you may not think about selling your car right after purchasing it, you should consider the Honda resale value when evaluating your financial situation. Honda vehicles are built to last and offer many benefits to drivers, making them an ideal choice for future trade-ins. If you're considering what Honda models have the best resale potential, you should check out the Accord and the CR-V models in our inventory. You can also contact us if you want to sell your old vehicle or trade it in for a new model.