Does a Honda Passport retain value?
The Honda Passport is a midsize SUV that has generally held its value well over time. According to industry data, the Passport typically retains around 60-70% of its original value after 3 years of ownership. This makes it a relatively good investment compared to many other vehicles in its class.
Factors Affecting the Passport's Resale Value
Several key factors contribute to the Honda Passport's strong resale value:
- Honda Brand Reputation: Honda is known for building reliable, high-quality vehicles that tend to hold their value better than many competitors. The Passport benefits from this overall brand reputation.
- Midsize SUV Demand: Midsize SUVs like the Passport remain in high demand on the used car market, which helps maintain their resale values. Consumers continue to favor these versatile, family-friendly vehicles.
- Minimal Depreciation: The Passport typically depreciates at a slower rate than many other SUVs in its class. This means owners can expect to recoup a larger percentage of their original purchase price when selling.
- Reliable Performance: The Passport is known for its durable powertrain, smooth ride, and overall reliability - all factors that contribute to its strong resale value over time.
Of course, the Passport's actual resale value will depend on factors like mileage, condition, and the specific used car market at the time of sale. But in general, the Honda Passport is considered a smart investment that should retain its value well compared to many competitors.
Comparing the Passport to Other Midsize SUVs
When looking at 3-year resale values, the Honda Passport tends to outperform many other midsize SUVs on the market. For example:
- Honda Passport: 60-70% of original value retained
- Toyota 4Runner: 65-75% of original value retained
- Ford Explorer: 45-55% of original value retained
- Chevrolet Traverse: 40-50% of original value retained
So the Passport holds its value quite well, making it a smart choice for buyers looking to maximize their investment in a midsize SUV. Of course, individual circumstances and market conditions can impact these figures, but the Passport's reputation for reliability and desirability tends to support strong resale values over time.
Is a Honda Passport expensive to insure?
When it comes to insuring a Passport, on average, it costs around $45 a month to insure a 2021 Honda Passport for liability only and $157 monthly for full coverage. And if you want the lowest insurance possible, NationalGeneral offers liability only policies for as cheap as just $39 per month.
Does a Honda Passport hold its value?
A Honda Passport will depreciate 44% after 5 years and have a 5 year resale value of $26,222.
What is the most common problem with the Honda Passport?
One of the most common problems reported is transmission slipping and rough shifting, which can affect the overall driving experience. Some Honda drivers have noted delayed or erratic shifting, which may cause sudden accelerations or decelerations, posing serious safety risks on the road.
Are Honda Passports expensive to insure?
2021 Honda Passport Car Insurance
When it comes to insuring a Passport, on average, it costs around $45 a month to insure a 2021 Honda Passport for liability only and $157 monthly for full coverage.
What holds better value Honda or Toyota?
Both Honda and Toyota vehicles hold their value well, but Toyotas generally retain slightly more value after 5 years compared to Hondas, making them a good choice for those concerned about depreciation.
What is the life expectancy of a Honda Passport?
200,000-250,000 miles
If you care for your vehicle, it should last 200,000-250,000 miles. Of course, this lifespan banks on caring for your car and driving it properly. With excellent care, the life expectancy of the Honda Passport should be extensive and correlate with the depreciation of the Honda Passport.
What holds more value, Toyota or Honda?
Both Honda and Toyota vehicles hold their value well, but Toyotas generally retain slightly more value after 5 years compared to Hondas, making them a good choice for those concerned about depreciation.
Are Honda passports expensive to maintain?
$2,412. Cost of maintenance/repair in the first five years. This is less than the industry average for popular SUV models by $7,558.
Which Honda holds its value the best?
The recipient of the top spot in the compact car segment in the 2023 Kelley Blue Book Best Resale Value Awards is the legendary Honda Civic Sedan. Always a familiar face when it comes to this type of award, the Civic Sedan has remained one of the most popular choices in its class for decade after decade.
Which Honda depreciates the least?
The Honda Civic and CR-V lead Honda's vehicle lineup in holding their resale value. For value-conscience shoppers looking for a tried and true vehicle line that won't disappoint, you can't go wrong with any Honda model, new or used. 2022 is our top pick for the best model year value for Honda vehicles.
