Many drivers still don’t understand why residual value is such an important factor in the world of automobile ownership, but there’s an easy way to wrap your head around this concept. In simple terms, residual value estimates tell buyers and lessees how much a given vehicle will be worth after several, usually three or five, years on the road. For those who tend to buy and sell their own cars, residual value is important because it helps to determine the resale value of their vehicles. Those who lease need to pay attention to residual value because it factors into the size of the monthly payments, and overall price, that one pays as part of a leasing agreement. Honda has a vested interest in building cars with high residual values, and many drivers in West Michigan are starting to take notice of their success in this regard.
High Residual Value with Honda Vehicles
No matter how you break up the information, Honda’s automobiles consistently retain more of their overall value over time. Just recently, Edmunds.com delivered their rankings for Best Retained Value in 2016, and as many expected, Honda performed exceptionally well across many segments. The Honda Fit dominated the Retained Value competition for subcompact cars. Both the Honda CR-V and the Honda Odyssey earned the top spots in their respective segments, as well! Additionally, the Honda Civic, the Honda Accord, and the Honda Pilot all received honorable mentions in the rankings for their classes. A combination of dependable engineering and desirable standard features helps all of Honda’s vehicles, and especially those listed above, to offer residual value that the competition just can’t match.
Get Behind the Wheel of a Honda!
Drivers who want their next car to be an intelligent investment can make the right decision by paying close attention to residual value. Honda understands why residual value is such an important factor, and that’s why they build such dependable, long-lasting vehicles! Owners and lessees in West Michigan can find the value they’ve been looking for by visiting a West Michigan Honda Dealer today!