The 2016 Honda Odyssey residual value numbers should be on the mind of anyone searching for a new minivan in West Michigan. When you need a simple way to compare a large number of vehicles, it’s tough to beat residual value, which looks at all of the things that can help a vehicle retain its value over time.
We think the best way to compare minivans is to look at our in-depth comparisons—like our 2016 Chrysler Town & Country review—but we hope that with just a glance at the residual value estimates of the Odyssey and its competition, you’ll have a good idea of where to start shopping.
What Is Residual Value?
Before we look at the numbers, we know that some of our readers might not know what residual value is, so we think it’s important to define it: The residual value is the worth of a vehicle as a percentage of its initial purchase price. So if a $20,000 vehicle lost $5,000 of its value, it would have a residual value of 75%.
While we can’t predict the future, residual value estimates from statisticians at ALG provide estimates for what they believe the residual values of modern vehicles will be after three years of ownership and after five years.
The Odyssey vs. the Rest
When it comes to residual value, we think that these numbers say all that needs to be said about the state of the modern minivan and just who is in the lead.
- A 2016 Honda Odyssey LX has ALG-estimated residual values of 52% at 36 months and 35% at 60 months.
- 2016 Kia Sedona L models have a 51% ALG residual value after 36 months of ownership, dropping to 34% at 60 months.
- Each 2016 Toyota Sienna L has a 36-month residual value of 47%, falling to 34% at 60 months of ownership.
- The 2016 Chrysler Town & Country LX has residual value estimates of 42% at 36 months and 27% at 60 months. (See our full comparison of 2016 Town & Country features to the Odyssey.)
- 2016 Dodge Grand Caravan models have residual values of 42% at 36 months and just 25% at 60 months.
- The 2016 Nissan Quest S has one of the lowest residual values at 40% after just 36 months of ownership and 27% at 60 months.
Now that you know what residual value means and have seen the numbers, we hope you understand why so many West Michigan families choose the Odyssey. With six different trim levels to choose from, it’s easy to get the minivan you need on your family’s budget.
Test Drive an Odyssey
While the 2016 Honda Odyssey residual value numbers are a great way to boil down a spacious, well-equipped, fuel-efficient, and affordable minivan into just a few numbers, we hope you know that it’s just a tiny piece of the bigger picture.
Visit a West Michigan Honda Dealer near you today to see what the Odyssey has to offer. We suggest the new Special Edition trim level, which comes with the HondaVac vacuum cleaner and a rear DVD entertainment system.
West Michigan Honda Dealers includes Battle Creek Honda, Betten Honda, Crown Honda, Fox Honda, River Town Honda, and Zeigler Honda.