With just one look at the 2016 Honda Accord residual value, it’s easy to see that the idea that a car loses half its value after driving it off of the lot is simply a myth. Built for longevity and dependability, the Accord’s residual value estimates outpace many of its competitors, providing West Michigan drivers with a midsize sedan option that towers above other cars. We put the Accord up against some of its top competitors to show you what we mean.
Honda vs. the Competition
A car’s “residual value” is its value after a given period of ownership (like three or five years) expressed as a percentage of its initial purchase price. Residual value estimates are key in knowing what you’re investing in on a new car, and Honda’s numbers come out pretty far ahead of some of its key competitors.
- The 2016 Honda Accord LX Sedan with CVT has an ALG-estimated 36-month residual value of 53% and a 60-month residual value of 41%.
- Each 2016 Hyundai Sonata has a 36-month residual value of 48% and a 60-month residual value of 32%.
- A 2016 Toyota Camry is estimated to have a 36-month residual value of 44% and a 60-month value of 33%—see how else it stacks up against the Accord in our comprehensive 2016 Toyota Camry review.
- A 2016 Chevy Malibu Limited has residual value estimated of 38% at 36 months and 26% at 60 months for one of the lowest sets of scores in the midsize sedan class.
- 2016 Nissan Altima models have a low residual value at 36 months, just 43%, and it falls further, down to 32% at 60 months. See what else separates it from the Accord in our 2016 Nissan Altima review.
- While the 2016 Chrysler 200 is a recent redesign, ALG estimates its residual values at just 40% at 36 months and 28% at 60 months.
- A 2016 Ford Fusion has ALG residual value ratings starting at 44% at 36 months and falling to 33% at 60 months.
- 2016 Kia Optima sedans have 36-month residual value ratings of 52%, but they drop like a stone at 60 months, all the way to only 31%.
- The 2016 Subaru Impreza is certainly better off than many cars at a 50% residual value after 36 months of ownership, but even it falls to 36% at 60 months.
Why High Residual Value Matters
While we can’t know the future for certain, the 2016 Honda Accord residual value estimates sure paint the sedan as a smart investment. That said, those residual value numbers are simply estimates, and how you take care of your vehicle matters. Bring your Accord in to a West Michigan Honda Dealer for regular maintenance like oil changes and tire rotations to ensure it ages gracefully.
And remember, even if you aren’t planning to ever sell your vehicle, a high residual value estimate indicates that it succeeds in features and specs in a way that its competitors do not. It’s a quick number you can look at and easily gauge whether or not a vehicle might be better than other models.
Test Drive an Accord
While the 2016 Honda Accord residual value boils the entire sedan down into a number, we hope you know that no number can tell you how a car feels from the driver’s seat. Visit a West Michigan Honda Dealer near you today to get behind the wheel of an Accord and experience it for yourself.