Do Honda Accords Hold Their Value? What To Know About Resale & Depreciation
Honda Accord by Dinkun Chen — CC BY-SA 4.0
If you’re a car buyer focused on value and styling, there’s a good chance you’ve added the venerable Honda Accord to your shortlist. Despite a general decline in the popularity of sedans, the Honda Accord retains its charm and continues to be a preferred choice for many car enthusiasts. This is primarily attributed to its exceptional reliability, fuel efficiency, and timeless sense of style. Plus, the Accord is renowned for its smooth and engaging driving experience, complemented by a spacious and well-appointed interior.
But what about its resale value? Do Honda Accords hold their value? Today, we evaluate the resale value of this iconic Honda sedan and how well it holds its value over time. Let’s get to it.
Honda Midsize Sedan Resale Value
Before we get into the nitty-gritty of the Accord’s resale value, let’s first look at how Honda fares in the midsize sedan market in terms of value retention. We leveraged our handy CoPilot Price Pulse Tool and got the following results:
As you can see from the chart, Honda is the top performer in terms of 5-year value retention among mid-size sedans, having maintained 82% of its original MSRP and leading the category. Toyota, Honda’s closest competitor, comes in second with a retention rate of 78%, indicating Honda’s slight edge in maintaining value over time. Mazda is not far behind, holding onto 77% of its MSRP value. Subaru and Hyundai, although still within the competitive range, trail at 74% and 69%, respectively.
Please be advised that these value retention figures are reflective of the market conditions as of the date of the report and can change due to various factors, such as changes in consumer preferences, market dynamics, and economic conditions. As a result, current or future values may differ from those depicted in the chart.
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Honda Accord Resale Value
Do Honda Accords hold their value? For this section, let’s consult with various reputable websites to determine the resale value of the Honda Accord.
According to a report by iSeeCars, the Honda Accord has the best resale value for midsize cars in 2024. The Honda Accord is one of the best midsize cars when it comes to resale value. It retains 61% of its value after five years, which is 6.1% higher than the segment average.
The Honda Accord is a top-performing midsize car with a substantial resale value. Its closest competitors, the Toyota Camry and Subaru Legacy, also retain their value well. The Camry maintains 59.3% of its original price, while the Legacy retains 58.4% over the same period. Though they fall slightly behind the Accord, both models still exceed the average resale value for midsize cars. This indicates that these vehicles enjoy a strong market performance and maintain their appeal despite the segment’s competitiveness.
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On the other hand, CarEdge has a slightly different analysis but still paints a picture of solid value retention for the Accord. The Honda Accord, known for its reliability, loses about 21% of its value in five years, with its resale price at $29,394. Although the price of a new Accord has gone up, causing it to depreciate more quickly than before, it’s still a top pick for anyone looking for a dependable used car. This rate of depreciation is a testament to the Accord’s lasting quality and its continued popularity in the pre-owned car market.
If you’re wondering why the Honda Accord is great for keeping its value, it’s all about its solid reliability. People keep coming back to it, knowing it’s packed with safety features and built with Honda’s dedication to quality. It’s not just about its stellar lifespan, though that’s a big part. It’s also because it doesn’t lose its worth as quickly as other cars might.
Used Honda Accord Buyer’s Guide (Powered by CoPilot Price Pulse Tool)
Do Honda Accords hold their value? Here, we evaluate the 2019 Honda Accord and its performance in the used car market via the Price Pulse Tool.
Folks looking for a good deal should know the 2019 Honda Accord is fairly popular in the second-hand car market. It’s not just keeping its value; it’s going for 25% more than expected. That means even though most cars lose value as they get older, the Accord is bucking the trend and keeping its owners smiling all the way to the bank with $4,773 more in their pocket.
If you’re interested in buying a 2019 Honda Accord, you may be able to find a deal as prices have lowered from their peak. However, it’s important to keep in mind that car prices can be volatile and unpredictable, similar to the stock market. It’s possible that prices might decrease even further in the upcoming months. This fluctuation in prices is just a part of dealing with used cars.
If you’re thinking about buying a used car, the 2019 Honda Accord might be a smart pick. It’s showing signs that it could hold onto its value better than others. And if you’re selling, you’re in a good spot, too. The numbers are hinting that you could get back a bigger slice of what you paid initially than you might think. Whether you’re signing the check or cashing it, the Accord could be a win-win.
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Final Thoughts
Do Honda Accords hold their value? As you can see above, the Accord offers strong value retention thanks to numerous factors like reliability, longevity, and lower cost of ownership. If you’re looking at a Honda Accord with an eye on resale value, you’re on the right track.
Renowned for holding its worth and backed by Honda’s stellar reputation for reliability, a used Honda Accord can be a smart financial move. For those of you looking to buy or sell, the Accord promises a strong return on investment, thanks to its above-average value retention.
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