With many years of experience, Honda vehicles have been known for being low maintenance and having a higher value for resale. As a result, they are able to compete with their competitors. Besides having low maintenance and repair costs, there are several other reasons why Honda has a higher return on investment compared to its competitors.
You will find that new Honda vehicles offer you the best value for money. They are balanced between performance, efficiency, affordability, and outstanding warranties.
A Honda HR-V will depreciate 43% over five years, and it will be worth about a little over $15,000. That is assuming that the selling price of a brand-new car would be around $27,000.
Should You Buy a Honda HR-V Used or New?
If you buy a Honda HR-V that is only two years old, you could save over $7,000 when compared to buying a new model. In addition, with one that is around two years old, you still have a fairly new model that has plenty of life remaining. If you plan to keep this vehicle for three years, you will accumulate about nearly $4,000 in the cost of depreciation. Try other ages and vehicle brands to see if you can find a point where the depreciation serves you best. As a good rule of thumb, try to avoid vehicles younger than two years old, as those that are brand-new depreciate at a faster rate.
Which are the Best Model Years for the Honda HR-V?
The 2019 Honda HR-V is one of our most favorite car models and the best value for money. When the 2019 model is released, the price that you will pay is on average 72% of the price of buying it brand new. Moreover, you will still have about a little over 80% of its life remaining. The model years 2020 and 2018 are also very good choices for buyers of HR-Vs.
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What Do Experts Think About the Honda Resale Value?
People make important decisions when it comes to purchasing a new vehicle. One of them is often driven by price. There are more factors to consider than the price of the window. They include the long-term value, the cost of ownership, and the resale value.
Many reliable automotive resources have reviewed the resale and cost of ownership values of Honda vehicles. As a result, Honda models have consistently been ranked in most lists for best resale value vehicles in each segment. In terms of resale value, Honda vehicles have been declared to be the best all around in the compact, subcompact, and midsize categories.
In conclusion, Honda has proven to be one of the best brands in the automobile industry for value and resale. They have been rated highly in each category for the past 20 years. Their reputation is based on their history of quality, safety, and dependability. As a result, they have an excellent reputation with consumers and many experts recommend them to others. If you’re an aspiring Honda owner, the HR-V is a model you should look into.