Four Honda Vehicles Win KBB’s Resale Value Awards
For many, purchasing a vehicle can be both an exciting and daunting task. Throughout the buying process, most car buyers narrow down their vehicle of choice through researching and test-driving a number of different of cars from multiple brands. But after making a new vehicle purchase, many forget the importance of understanding their vehicle’s resale value.
Kelley Blue Blook is known as a trusted research tool that many car shoppers, and car sellers use to research the value of their vehicles. Each year, they release their Best Resale Value Awards to recognize vehicles that offer a good resale value to consumers.
This year, the 2017 Honda Accord Hybrid, Fit, HR-V, and Ridgeline were all awarded the ‘2017 Kelley Blue Book Best Resale Value Awards’. The award recognize new vehicles that are anticipated to best retain their value over their first 5 years of ownership.
Why is Resale Value Important?
As Kelley Blue Book notes, resale value is so important because “as much as you love that car, truck, or SUV you are about to buy, we can tell you one thing that is virtually certain: at some point you are going to sell it.” This is where resale value comes into play. You can either get a lot for the vehicle that you purchased a few years ago, or you may just get a little bit for it.
At KBB, resale projections take into account current vehicle data, sales data, market conditions for each vehicle, competition within vehicle segments, expectations of the future economy and the combined experience of Kelley Blue Book’s team of market and pricing analysts.
Ultimately, over the first five years of new-car ownership, depreciation is the typical car owner’s biggest expense. It will be bigger than the cost of its fuel, maintenance, and insurance. But, if you choose either the 2017 Honda Accord Hybrid, Fit, HR-V, and Ridgeline can be a smart investment for now and into the future.
 Vehicle’s projected resale value is specific to the 2017 model year. For more information, visit Kelley Blue Book’s KBB.com. Kelley Blue Book is a registered trademark of Kelley Blue Book Co., Inc.