What is the resale value of a Honda Accord?
Many people are opting to ditch their old sedans in favor of a more practical SUV. The venerable Honda Accord is one of those models that drivers are increasingly abandoning, as evidenced by its declining sales.
The launch of a new generation for 2023 does nothing to reverse the trend so far. It has to be said that the Accord now costs a lot more than in the past - and even more than the CR-V - with a base price of $38,780, including transport and preparation. That's over $3,300 more than in 2022... and over $10,000 (!) more than five years ago, when the previous generation debuted. Incredible, isn't it?
If you're thinking of selling your Honda Accord soon, what value can you expect to get out of it? It's a good question, and one that I'm sure many owners share. Of course, the quality of maintenance always comes into play. Let's take a closer look, going back ten years or so...
In the case of a ninth-generation Accord (2013-2017), prices on the market today range from around $12,000 for an older model with high mileage to $26,000 for a newer model with less mileage. Of course, it's the EX-L and Touring versions that are better value, as is a hybrid Accord.
The 3.5-liter V6, discontinued in 2018 in favor of turbocharged four-cylinder engines, retains good appeal with some consumers, so if your Accord is equipped with it, you could get more for your money.
Now, if we look at the tenth-generation Accord (2018-2022), the units available are, of course, more plentiful. A moderately equipped 2018 or 2019 example still in good condition will hover around $24,000 to $28,000.
Have you opted for a short-term lease? Check the contract's cash surrender value carefully, as 2020 and 2021 models are easily priced at around $35,000. On that note, good thinking!
