What is a 2016 Honda Accord worth today?
The value of a 2016 Honda Accord depends on several factors, including its condition, mileage, trim level, and the current market demand. As a trusted auto service provider with years of experience, we at Kevin's Autos understand how important it is to know the worth of your vehicle, whether you're planning to sell, trade, or simply assess its value for insurance purposes. Let’s dive into the details to help you determine its current worth.
Factors That Influence the Value of a 2016 Honda Accord
When evaluating the worth of a 2016 Honda Accord, consider the following key factors:
- Condition: A well-maintained vehicle with no major mechanical or cosmetic issues will fetch a higher price than one with visible wear and tear or unresolved repairs.
- Mileage: Lower mileage typically increases a car's value. For a 2016 model, average mileage would be around 96,000 miles (assuming 12,000 miles per year).
- Trim Level: The 2016 Honda Accord comes in various trims, such as LX, Sport, EX, EX-L, and Touring. Higher trims with more features and upgrades are generally worth more.
- Market Demand: The demand for used sedans like the Accord can vary by location and time of year. Sedans remain popular for their reliability and fuel efficiency, which can positively impact their value.
- Accident History: A clean accident history will boost the car's value, while a history of collisions or repairs may lower it.
Estimated Value Range
Based on current market trends in February 2025, the value of a 2016 Honda Accord can range as follows:
- Private Sale: $12,000 to $18,000, depending on the factors mentioned above.
- Trade-In Value: $10,000 to $15,000, as dealerships typically offer less than private buyers.
- Certified Pre-Owned (CPO): If sold through a dealership as a CPO vehicle, the price could be higher, ranging from $16,000 to $20,000, due to added warranties and inspections.
Keep in mind that these are general estimates. For a more accurate valuation, consider using online tools like Kelley Blue Book or Edmunds, or consult with a local dealership or appraiser.
Tips for Maximizing Your Car's Value
If you're looking to sell or trade your 2016 Honda Accord, here are some tips to get the best price:
- Keep It Clean: A clean, well-detailed car makes a better impression on buyers.
- Fix Minor Issues: Address small repairs, such as replacing worn tires or fixing scratches, to improve the car's appeal.
- Provide Maintenance Records: Showing proof of regular maintenance can reassure buyers of the car's reliability.
- Research the Market: Check local listings to understand what similar vehicles are selling for in your area.
Conclusion
The 2016 Honda Accord remains a popular choice in the used car market due to its reliability, fuel efficiency, and comfort. By considering the factors outlined above and taking steps to maximize its value, you can ensure you get the best possible price for your vehicle. If you need assistance with maintenance or repairs to prepare your car for sale, feel free to contact us at Kevin's Autos. We're here to help!
Frequently Asked Questions
Does the Honda Accord have high resale value?
Honda Accord Resale Value
According to a report by iSeeCars, the Honda Accord has the best resale value for midsize cars in 2024. The Honda Accord is one of the best midsize cars when it comes to resale value. It retains 61% of its value after five years, which is 6.1% higher than the segment average.
What is the price range of a 2016 Honda Accord?
Prices for a used 2016 Honda Accord currently range from $8,420 to $21,999, with vehicle mileage ranging from 14,256 to 219,538. Find used 2016 Honda Accord inventory at a TrueCar Certified Dealership near you by entering your zip code and seeing the best matches in your area.
What is the resale value of a 2016 Honda Accord?
6Edmunds Appraisal Report
driven per year, with no color or options selected. 2016 Honda Accord trade-in prices range from $7,016 - $18,811. Get a more accurate value for your car with the Edmunds appraisal tool.
What is the resale value of Honda after 5 years?
After the first five years of ownership, a new vehicle typically retains about 35 percent of its original manufacturer's suggested retail price (MSRP). Meanwhile, Honda consistently holds over 50 percent of its value over the same period of time, making its vehicles a great investment.
How much should I spend on a used Honda Accord?
If shopping for a model in this generation, those in decent shape with average miles as of this writing will run between $4,000 and $6,000. Low-mileage models are $7,000-$9,000. See 2003 to 2007 Honda Accords for sale in your area.
What should I pay for a Honda Accord?
2024 Honda Accord MSRP and Invoice Price
| Trims | MSRP | Edmunds Suggested |
|---|---|---|
| LX | $28,990 | $27,574 |
| EX Most Popular | $31,005 | $29,325 |
| Sport Hybrid | $33,990 | $32,148 |
| EX-L Hybrid | $35,635 | $33,475 |
How many miles does a 2016 Honda Accord get?
2016 Honda Accord Sedan Specifications & Features Press Kit
| ANTICIPATED EPA MILEAGE RATINGS3/FUEL | LX | Touring |
|---|---|---|
| 6-Speed Manual Transmission (6MT) (City/Highway/Combined) | 23/34/27 | |
| Continuously Variable Transmission (CVT) (City/Highway/Combined) | 27/37/31 | |
| 6-Speed Automatic Transmission (6AT) (City/Highway/Combined) | 21/34/26 |
What is high mileage for a Honda Accord?
200,000 miles
A Honda Accord that is not maintained well has a much higher chance of developing major engine and transmission problems before hitting 100,000 – 200,000 miles. With that being said a very well-maintained Honda Accord has the potential to last well past 300,000 miles and further before needing any major work.
How much can you sell a Honda Accord for?
6Edmunds Appraisal Report
driven per year, with no color or options selected. 2023 Honda Accord trade-in prices range from $19,833 - $32,134. Get a more accurate value for your car with the Edmunds appraisal tool.
What is Honda resale value?
Honda Depreciation
| Year | Depreciation | Residual Value |
|---|---|---|
| 2022 | 22.73% | 77.27% |
| 2021 | 29.25% | 70.75% |
| 2020 | 31.11% | 68.89% |
| 2019 | 34.78% | 65.22% |
