The Honda Civic has been the most affordable car on the road for a long time. It seems that it is a very valuable vehicle. It has a stellar maintenance record, and it has not encountered any problems. Whether you are buying something new or something used, you really can’t go wrong, if you just make sure that you don’t pay more than you need to. Buy a vehicle that has 300,000 miles on it. Then you just need to change the oil every now and then.
A Honda Civic will be depreciated by 39% over five years, and the price of that vehicle will be at about $14,000. This assumes that the cost of buying a brand-new car would be around $24,000.
Should You Buy a Honda Civic New or Used?
If you were to buy a used Honda Civic that is only two years old, you could save over $5,000 compared to buying it new. Two years is also not that long, so the car would still have a lot of use left in it, almost as if it was entirely new. If you intend to keep the vehicle for three years, you will depreciate the vehicle by nearly $4,000 at the end of that time period. Try out other combinations of age and the amount of use it has to see if there’s a point where the depreciation suits you best. As a whole, test the value of vehicles that are about three years old, because brand new cars depreciate quickly.
Aside from that, the semiconductor shortage has caused the used car market to become completely chaotic. Some people are benefiting from all that, while others are losing millions of dollars.
It’s a time when things go wrong, but Honda Civic owners seem to be in the latter group. Frankly, this shouldn’t be surprising. The Civic has always been a solid buy, but its popularity has also come from it being very reliable. In this case, the resale price of the vehicle has come under the spotlight, and owners may benefit from this.
Which Honda Civic Model Years Should You Buy?
Here is our best pick for the Honda Civic: the model year 2019. We chose it because it is the best value for money for the model year. For the 2019 model, you will only pay 77% of the price of the vehicle when bought brand-new. Furthermore, you will still have a little over 80% of the vehicle’s useful life. There are also 2020 and 2018 model years for the Civic that you could consider.
How to Maintain the Honda Civic’s Value
Maintaining the value of a Honda Civic is not just down to depreciation predictions. Instead, it also comes down to how well the owner of one such model takes care of it.
If you want to get the most out of your Honda Civic’s resale value, try and keep an eye on the maintenance records of your car. If there are any warning lights on or if anything seems off, don’t wait until there is a problem before taking action.