Do Hondas or Toyotas Have Better Resale Value?
Resale value is an important consideration when choosing you next vehicle. At some point in the future you are either going to sale or trade in your vehicle, and you would like to get as much out of it as possible. Two of the best vehicle makes, in terms of resale value, are Honda and Toyota. The question then becomes, which has the better resale, Honda or Toyota.
Resale Value and Vehicle Models
Because each car manufacturer produces many different car models, there are different categories of vehicles. Resale value is ranked with these categories in mind. Depending upon which publication you read, you may see different categories. They may only be 2 categories, such as Luxury and Non-Luxury or Truck and Car. There may be 10, 15, 20 categories or more, such as Compact, Mid-Sized, SUV, etc. Even with this being the case, Hondas and Toyotas continually rise to or near the top of the rankings no matter the category.
Calculating Vehicle Resale Value: Kelly Blue Book
Resale value is not as straight-forward to calculate as you may think. Different publications pull statistics from different areas, so you will not get the same exact list from one publication to another. However, you will notice that the top cars are at or near the top on most publications. Unfortunately, for someone trying to choose between a Honda and a Toyota, this can be frustrating because they seem to trade places in the top spot from publication to publication.
Resale value, for the purposes of this article is based, on the Kelley Blue Book survey for 2013 vehicles. The criteria are used to calculate the value of vehicles after 5 years. For 2013 vehicles, it is expected that the average vehicle will be worth 38.2 percent of its new value after 5 years. All vehicles mentioned below beat this average.
Where Toyota and Honda Are Top the Lists
The categories in which Toyota tops the list are quite numerous. They are tops in the truck categories with the Tacoma and FJ Cruiser. Honda also tops the list in many model categories. The Honda Civic, Fit and Accord finished at the top of their categories. The overall winner, that is the vehicle make calculated to retain its value after 5 years for all 2013 model vehicles, is: Toyota.
Best Overall in Resale Value
Kelley Blue Book also generated a list of the top 10 vehicle models overall, however, they did not rank them in order. The list below represents the top 10 in alphabetical order.
- Honda Civic
- Honda CR-V
- Jeep Wrangler
- Lexus LX
- Porsche Cayenne
- Scion tC
- Toyota 4Runner
- Toyota FJ Cruiser
- Toyota Land Cruiser
- Toyota Tacoma
Best 2013 Resale Value by Category
Kelley Blue Book compared 2013 vehicles in 22 categories for retained value. Honda and Toyota dominated the list, as did Lexus.
- Subcompact car: Honda Fit
- Compact car: Honda Civic
- Sporty compact car: Honda Civic Si
- Midsize car: Honda Accord
- Full-size car: Toyota Avalon
- Entry-level luxury car: Lexus IS
- Luxury car: Lexus GS 350
- High-end luxury car: Porsche Panamera
- Sports car: Chevrolet Camaro V6
- High-performance car: Chevrolet Camaro SS
- Hybrid/alternative energy car: Ford Fusion
- Electric vehicle: Chevrolet Volt
- Compact SUV/crossover: Jeep Wrangler
- Midsize SUV/crossover: Toyota FJ Cruiser
- Full-size SUV/crossover: Toyota Sequoia
- Luxury compact SUV/crossover: Infiniti EX
- Luxury midsize SUV/crossover: Porsche Cayenne
- Luxury full-size SUV/crossover: Lexus LX
- Midsize pickup: Toyota Tacoma
- Full-size pickup: Toyota Tundra
- Minivan/van: Toyota Sienna
- Hybrid SUV/crossover: Lexus RX 450h
Most people, when vehicle shopping, are generally looking in one or possibly two categories of vehicle. If you are shopping for a compact car, you are unlikely to bring home a SUV or Minivan. So, while Toyota tops the list for overall retained value in 2013, you should compare across specific vehicle models to make your choice. In most cases, you can’t really go wrong with either a Toyota or a Honda.