After five years, the price of a Honda CR-V will increase by 39%, and it will be worth more than $22,000 after five years. This is assuming that the price to buy a brand new one is about $35,000.
The Honda CR-V has been proven to be a very reliable vehicle, and its worth has never changed. In the small SUV segment, it is just as good as the best models from Toyota. Also, when it comes to the low depreciation, it is very good. For those who need a ride in this segment, take a hard look at the CR-V that you have. It should be either brand new or used.
Should You Buy a CR-V New or Used?
Most of the common wisdom says that it is wiser to buy a used car than to buy a new one. What’s more thrilling than driving a new car? There is the downside that it might cost you a little more to take that car off the lot. It is possible that this model will not be significantly improved over last year’s model. So what if the new model you are interested in costs only slightly more than the older models that you already own? What would you do if there were some new and exciting features added to the mix to make things more enjoyable?
By purchasing a Honda CR-V that is only two years old, you could save over $9,000 compared to buying a new one. You still have a relatively new model that is still good for driving and has plenty of life left. If you are planning to keep the vehicle for three years, that would amount to a total cost of depreciation of $4,278. Try other age, ownership length, and different vehicles in order to find out which ones you find that are the best candidates for depreciation.
What are the Best Models for Buying a Honda CR-V?
The 2020 Honda CR-V is our best pick for the best value for money when it comes to buying a CR-V. On average, you will pay 88% of the price as buying it brand-new. Moreover, you will still have over 90% of the vehicle’s useful life. The model years 2019 and 2018 are also good choices for the CR-V and offer affordable value.
How to Maintain the Value of a Honda CR-V?
In order to keep the value of a vehicle in good standing, you don’t only have to rely on depreciation rankings, rates, and predictions. In actuality, how the owner of the car takes care of that vehicle may be the key to its value. If you are the kind of person who is meticulous about the maintenance of your car, it will be worth more in the long run.
While a lot of people may not realize it, car maintenance is actually a very important factor in maintaining the value of a vehicle. A little extra effort on your part can go a long way.