Depreciation should be an important criteria in your car purchase agenda. Here's some great news for Honda owners...and compelling information for prospective Honda owners.
Honda models have captured three 2013 Best Retained Value Awards from Edmunds.com. The Honda Civic was honored in both the Sedan and Coupe $20-$30k categories and the Honda Odyssey led the minivan segment for maintaining the highest projected residual value after five years of ownership as a percentage of value when new.
"Honda models definitely punch above their weight when it comes to value with class-leading quality, safety ratings, standard features and a company commitment to avoid value-sapping fleet sales" said Mike Accavitti, senior vice president of automobile operations for American Honda. "Updates to the 2013 Civic took it from best-selling in 2012 to undeniably best-in-segment this year, and with a significantly-updated Odyssey on the way this summer, we're looking forward to providing even more value to American families."
Whether it's a new car or used, the very minute that you drive a car off a dealer's lot,loses value. In this sense you always have a car payment. It's a fact of life. You can diminish the effect of depreciation if you plan to drive your car into the ground. However, it's most important in the case where you plan on trading it in in the future. Do your research...and consider the overall cost associated with car ownership...not just price.
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