It’s bad news for purchasers of used Hondas this month as car valuation experts Glass’s Guide reports an uplift in values
At a time when most used car prices are either stable or recording modest increases, Honda is one of the few manufacturers whose products have fared particularly well. In its January edition, Glass’s Guide has re-evaluated the price of virtually every used Honda listed, increasing values by around 2%.
In practice this means that used prices of the Jazz have increased by £100-200, Civic by £100-400 and new Accord by up to £300.
"Dealer stocks of used Honda models are at a low level, and with continued strong demand for used examples it’s natural that prices have risen," says Glass’s Guide’s Senior Editor Jeff Paterson.
"While on the face of it, this is bad news for would be purchasers, the news is offset by the on-going low depreciation typical of Honda products. Any increase in price that a used buyer pays now is likely to be offset by a higher re-sale price when the time comes to sell, even when the car is three, four and even five years old," he adds. "Plus of course the situation is very good news for existing owners of the marque who in the short term at least, will have that rare satisfaction of owning a car that has actually risen in value."
The news further emphasises that Hondas are among the slowest depreciating cars in the market. Typical actual retained values listed by Glass’s, taking into account the recent uplift are illustrated below.
|Jazz 1.4 SE||70%|
|Civic 1.4 S 3 dr||60%|
|Civic 1.6 SE 5 dr||58%|
|HR-V 1.6 5 dr||66%|
|CR-V 2.0 SE Sport||71%|
|Stream 2.0 SE Sport||60%|
|Accord 2.0 SE Executive (previous model)||50%|
All percentages compare current Glass’s used retail price with original new list price.Published 17 January 2005