The fact that Honda automobiles hold their value better than the majority of used cars is relatively well known, and it has been that way for the past two decades. You’ll see that many used Honda vehicles over the past five years are still priced somewhere around their original MSRP sticker pricing and frequently far more than other makers in the same categories if you take a quick glance at any listed auto website. Older Honda vehicles, such as those produced in the 1990s, are still available for a hefty price. But why do they cost so much?
It has to do with a little more than just Kelley Blue Book values
Although tools like Kelley Blue Book are useful for determining a car’s value, they aren’t necessarily the most trustworthy source when it comes to Hondas, especially older models. For instance, we just discovered a 1996 Honda Civic DX hatchback with 86,000 kilometers being offered for $5,700 on Craigslist. Although the automobile appears to be in excellent condition and has extremely little mileage for its age (just 24), the asking price is absolutely absurd. Additionally, even while we doubt the seller would accept that much as payment, we are confident that it won’t sell for the $1,000 KBB.com estimates it is worth.
Of course, that is an extreme case, but why is the cost so high? Simply said, the popularity, dependability, and customizability of the older Honda Civics and Accords are more important factors than supply and demand alone. There is a rarity aspect since clean examples, like the 1996 Honda Civic described before, are becoming increasingly difficult to locate as time passes. However, due to how simple it is to switch out the engines in those cars, anyone can take that automobile and turn it into a fuel-efficient everyday driver or, if they so want, a weekend racing.
Do other older Honda models retain their values just as well?
Although vintage Honda Civics and Accords from the 1990s don’t seem to depreciate, other Honda models also enjoy this benefit. For instance, we’ve seen listings for 2007 to 2010 Honda Odysseys that are $2,000 to $3,000 over their Kelley Blue Book values, and no matter how old a Honda Pilot is, it’s the same problem. We are well aware, of course, that the internet tools used to estimate the value of a car are only suggestions and may not reflect the real condition of the vehicle. The biggest issue, though, is that these automobiles are sold for nearly absurd rates.