Time Magazine recently published a report named Used Car Prices Are Plummeting. Here’s Why. Car prices have never been priced more competitively. If you’re in the market for one, you’re spoiled for choice. Which kind should you get?
Consumer Reports recently released the results of its June 2015 reliability study, listing the top ten cars most likely to make it to 200,000 miles. Five of those cars were Honda models, nearly the company’s entire lineup. There is a strong case to be made for the brand for anyone looking for a great deal.
Safety features are usually one of the top reasons to buy new cars rather than used ones — as safety authorities raise their safety standards each year, car companies must up their game. Honda, though, usually stays ahead of the rest of the auto industry when it comes to safety. When the Insurance Institute for Highway Safety tightened up safety standards in 2013, for instance, Honda was already in compliance. The Accord and the Civic won its highest safety ratings that year.
New car buyers evaluate the models on their list on resale value. There’s no reason to not do the same thing with used cars. If you’re buying a used car, you want to think about the kind of prices you’ll get when it’s time to move on. Used Nissans, BMWs and Lexus’ tend to lose their value fastest.
Honda’s vehicles routinely retain their value over a second or third resale. While many brands do get a few models right when it comes to long-term value, Hondas routinely top the resale value awards each year. Edmunds.com’s 2014 Best Retained Value awards were swept by Honda — Acura in the luxury division (against Audi and Lexus), and Honda in the regular division (against Toyota).
The Green Car of the Year award understandably goes to electric or hybrid cars each year. When Honda won the award for 2014, though, it wasn’t a hybrid model. Going head-to-head against other cars with purpose-designed alternative power systems, it was Honda’s ninth generation gasoline Accord that won. It’s a big deal to have a conventional car win against hybrids. Environmentally responsible design is a top feature in any Honda. If you care about environment, you’ll take a look.
According to Clifton, NJ’s dealer of the best auto used cars in the region, reliability and resale value feature at the top of most used car buyers’ lists, above luxury, image and features. While Honda certainly doesn’t shortchange customers in these areas, it excels at classic over-engineering. It’s the kind of vehicle that should be on any used buyer’s list.