These 5-Year-Old Used Honda Cars Can Still Save You a Ton of Cash Says iSeeCars
iSeeCars has published a list of 5 and 10-year-old cars, their price, mileage, and how many more miles left on the clock. These are approximations based upon data gathered by iSeeCars. This list allows a prospective buyer to determine how many miles their initial investment could get them. Used Honda models occupy 30% of this list. Let’s explore the price and lifespan of those models to determine whether or not they are used cars worth buying.
The Honda Fit was Honda’s entry in the subcompact hatchback segment and was sold in the U.S. until 2020. iSeeCars reports the potential lifespan of the Honda Fit to reach around 207,231. That means the average 5-year-old example is reported to have approximately 154,826 miles left on the clock. Given that the average price for such an example is $18,486, the Fit has the lowest price per 1,000 miles at only $119. Unfortunately, though the Fit is quite the reliable little machine, the average price of $18,486 is just under what a 2020 Honda Fit Sport would have set you back brand new.
Honda Civic (Coupe)
The next Honda on the list is the Civic Coupe. Much like the Honda Fit, the Civic Coupe is no longer with us. Beginning with the 2021 model year, just one year prior to the release of the 11th generation Civic, the Civic Coupe was discontinued.
iSeeCars reports the Civic Coupe’s potential lifespan to be 226,120 miles, so you’re in luck should you want to hang on to your 2-door Civic for the foreseeable future. The remaining lifespan as determined by iSeeCars would be 171,421, which is exceptional given how few modern cars seem to make it that many miles from new.
A 5-year-old Civic is approximately $22,336. AutoBlog reports the base trim LX coupe was $21,880 back in 2020; the savings don’t really seem that compelling. It may be worth noting that the top trim Touring Coupe was far more pricey at $28,080. So, it does depend on the desired trim and how those prices differ in the used market.
Besides the Toyota Camry, the Honda Accord is possibly the most ubiquitous sedan on the planet. With the 11th generation Accord coming for 2023, opting for a new model could be tempting. That said, the all-new 2023 Honda CR-V saw a $4,000+ increase in base price. Despite publications like Car and Driver suggesting the Accord may only increase by a small margin, the jury is still out. A used Accord right now could be an exceptional bargain.
iSeeCars reports the average price for a 5-year-old Accord being approximately $22,450. With the 2022 model starting at $27,615, this represents the best savings for a used Honda model on this list. That $22,000 could potentially get 160,370 miles on the way to a projected 226,168 lifespan.
Hondas hold their value
The average used pricing reported by iSeeCars indicates Honda’s great resale values. It is worth noting that the inflated used prices of the Fit and Civic Coupe are likely a direct result of their discontinuation. The data here indicates that, although buying a 5-year-old Accord could save you a ton of cash, the now discontinued models are seeing far more limited depreciation. Price notwithstanding, Honda demonstrates its tendency to make desirable long-lasting cars.