One of the most frustrating parts of car ownership is how quickly your vehicle can lose its value, and this loss can be even more dramatic for used vehicles. However, this isn’t the case for every brand; used Honda cars consistently have higher values when compared to other brands. This is because Honda vehicles have a low ownership cost, high brand demand, and are incredibly reliable. See for yourself at Honda Van Nuys.
Legendary Reliability
A major reason why Honda vehicles traditionally hold their value better is due to their reputation for reliability and durability. With the right maintenance and proper driving habits, a Honda vehicle can last hundreds of thousands of miles with fewer major repairs than competitors. This is because Honda cars are built with durable components and based on proven engineering, making them reliable, durable, and popular.
High Buyer Demand Keeps Prices Strong
The reputation of reliability and practicality helps to create a steady demand for used Honda vehicles. When you combine this with the fact that the supply is smaller than the demand these days, it is easy to see why models like the Honda CR-V, Honda Accord, and Honda Civic depreciate more slowly than their competitors.
Affordable to Buy, Affordable to Drive
Not only do Honda vehicles typically require fewer repairs, but those repairs tend to cost less, which also helps to protect resale value. When buyers know that they won’t have as many after-purchase costs, they are willing to spend more. This is also cyclical because as buyers are willing to pay more, the car holds value for longer.
Discover the Value of a Used Honda Vehicle in Van Nuys, CA
People are often shocked to learn just how much their used Honda vehicle is worth, but that is the reality with a brand as reliable, affordable, and popular as Honda. If you are looking for a used Honda vehicle or want to sell yours, contact our Honda dealers in Van Nuys, CA.
