Pay attention to depreciation (0)
12:38 PM by automobile, cars, honda accord, honda cars, honda philippines
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Honda cars have always been known for their power, fun to drive and exhilarating driving performance. But there is one aspect where this king of racing is a lot slower than its competitors—depreciation.
Depreciation is one aspect most car buyers overlook. When it comes to money matters, many buyers stop at the sticker price when choosing a new vehicle. However, the ownership cost of a car is a lot more than just how much you paid for it. It’s also about how much people are willing to pay for your used car five years from now.
All cars depreciate but some do so faster than the others. The slower a car depreciates, the higher its resale value. Depreciation is, in essence, the greatest expense incurred by drivers during the first five years of ownership. So it is important to choose a vehicle that retains its value even while piling up the mileage.
The best place to start in learning about resale value is the Kelly Blue Book. It is perhaps one of the most trusted resources in the U.S. when it comes to resale value. Since 1926, buyers and sellers have turned to Kelley Blue Book for new and used vehicle information. Car buyers and manufacturers alike look forward to the winners of its annual resale awards and its website, www.kbb.com, is one of the most visited automotive websites in the world.
The Kelly Blue Book Best Resale Value Awards is an annual recognition given to automakers with vehicles that best retain their resale value. Honda took home the coveted title of “2009 Best Brand” - an honor given to automakers with the best-projected resale value across its entire line of vehicles. The award is an affirmation of Honda’s reputation for delivering well-built, reliable, and fuel-efficient vehicles.
Throughout its history, Honda’s fun-to-drive and fuel-efficient vehicles are very much in demand in the market and car buyers simply can’t get their hands off these innovative, safe, and environment-friendly vehicles. While other cars can lose as much as 60% of its original value in just four years, some Honda models can retain as much as 52% of their original value even after five years.
There are a lot of factors that could explain why car buyers are willing to shell out more cash for a Honda in the used car market. Foremost among these is Honda’s legendary reliability and easy maintenance. Buyers are confident that they can count on a Honda to deliver great performance even if it has racked up some miles. This just goes to show that quality can indeed go a long, long way.
The high resale value of a Honda car also ensures that owners are getting value for their money. This translates to customer satisfaction from the time you buy your Honda up to the time you sell it. Think about it, if you can use a car for five years and yet still manage to squeeze out half of what you paid for after selling it, then that’s probably the closest thing you can get to a free car.
Honda’s high resale value is attests to its quality and prestige. It shows, more than anything else, how Honda has captured the hearts of the car-buying market. It is a testament that great works never go out of style and out of the market’s wish lists.
A new car’s babe-magnet looks and lightning speed can make any car buyer fall at first sight, but knowing its resale value can save you cash in the long run. So the next time you buy a new car, don’t just ask how much it costs. Ask instead what it’s worth five years from now.
Go ahead and make that smart purchase. Visit you nearest Honda dealer and test drive a Honda car now. For more information about Honda products, log on to www.hondaphil.com.
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