Does a Honda Passport retain value?
The Honda Passport is a popular midsize SUV known for its reliability, performance, and practicality. If you're considering purchasing one or already own it, you might be wondering whether it holds its value over time. In this article, we’ll explore the factors that influence the Honda Passport’s resale value and why it’s considered a solid investment in the automotive market.
Why the Honda Passport Retains Value
Several factors contribute to the Honda Passport’s ability to retain its value over time. Honda, as a brand, has a strong reputation for producing reliable and durable vehicles, and the Passport is no exception. Here are the key reasons why the Passport holds its value:
- Reliability: Honda vehicles are renowned for their long-lasting performance and minimal maintenance issues. The Passport benefits from this reputation, making it a desirable choice for used car buyers.
- Resale Demand: The Passport’s combination of spaciousness, off-road capability, and modern features makes it a sought-after vehicle in the used car market.
- Brand Reputation: Honda consistently ranks high in customer satisfaction and reliability surveys, which positively impacts the resale value of its vehicles.
- Fuel Efficiency: Despite being an SUV, the Passport offers competitive fuel efficiency, which appeals to budget-conscious buyers.
- Low Depreciation Rate: Compared to other midsize SUVs, the Passport experiences slower depreciation, meaning it retains a higher percentage of its original value over time.
How to Maximize the Resale Value of Your Honda Passport
While the Honda Passport is already a strong contender in terms of value retention, there are steps you can take to ensure you get the best resale price when it’s time to sell:
- Regular Maintenance: Keep up with scheduled maintenance and address any repairs promptly. A well-maintained vehicle is more appealing to buyers.
- Keep Records: Maintain a detailed record of all services and repairs. This documentation reassures potential buyers about the vehicle’s condition.
- Protect the Exterior: Regularly wash and wax your Passport to protect the paint and prevent rust or damage.
- Drive Responsibly: Avoid aggressive driving, which can lead to excessive wear and tear on the engine, brakes, and tires.
- Choose Popular Features: If you’re buying a new Passport, opt for features that are in high demand, such as all-wheel drive or advanced safety systems, as these can boost resale value.
Conclusion
The Honda Passport is a reliable and versatile SUV that holds its value well compared to many competitors in its class. Its strong brand reputation, reliability, and practicality make it a smart choice for buyers who want a vehicle that won’t depreciate rapidly. By maintaining your Passport and making thoughtful choices when purchasing, you can maximize its resale value and enjoy years of dependable performance.
Frequently Asked Questions
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 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.
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.
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.
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 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.
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.
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.
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.
