Once you purchase a vehicle, it starts to depreciate from the minute you start the engine. The same happens to Honda Civic models as they lose value over time.
So, does the Honda Civic depreciate? If yes, what is the rate? Yes. Honda Civic depreciates at an average of 43% for every five years of usage. In actual value, the Honda Civic model, with an estimated $24,000 initial price, loses its value worth $10,000, retailing at $13,700.
This article gives more information on calculating the depreciation rate of the Honda Civic using the AutoPadre calculator and displaying the results in tables and curves. In addition, we also check on the factors that affect the depreciation rate.
Do Honda Civic Depreciate? Rate, Curve Graph, And Table
Yes. Honda Civic do depreciate at an average rate of 43% every five years. Honda Civic, unlike its predecessor Honda Accord, has a higher depreciation rate that is majorly contributed by its body type.
It has a low-quality body type that, when not well maintained, can lose value within five years of use. The table below gives an estimated depreciation rate for Honda Civic.
|Value change in five years||$10,320|
|Residual value in five years||$13,680|
The 2020 Honda Civic will have lost value worth $10,320 within five years. However, these values are subject to change depending on maintenance level and usage frequency.
How Does The Depreciation Calculator Work – AutoPadre Calculator
To calculate the depreciation rate for Honda Civic, you need the following data.
- Model year
- Estimated current value
- Expected mileage is driven per year
The detailed elaboration of this value has been discussed in the next section. However, once you fill in the above data, press the calculator depreciation bar, and the final results will be displayed in a tabular form and a graph curve.
For an accurate estimate, use a maximum of twelve years. You can then have subdivided data at five and ten years. Below is a display of how to fill in the data for your Honda Civic into the AutoPadre Car Depreciation Calculator.
Once you feed in the details of your vehicle, the AutoPadre gives results in a table format and a curve graph showing the depreciation rates.
The table shown below are illustrations for 2020 Honda Civic estimated at a current value of $24,195 with an expected mileage of 12,000 miles per year.
For the graph, the vehicles seem to maintain their value for an average of the first five years. Let’s see the graphical curve representation.
From these illustrations, we can conclude that Honda Civic has a reasonable resale price if well-maintained and serviced.
Factors That Impact A Honda Civic Depreciation Rate
Here are some criteria discussed used to determine the depreciation rate of a Honda Civic. Using the AutoPadre Car Depreciation calculator, you need to feed these figures to help the calculator estimate the depreciation rate.
Make Of The Car
The make of the car is given by the manufacturer who designed and assembled the vehicle. For example, in our case, the make of the car is Honda. Other brands include BMW, Mercedes-Benz, and Ferrari.
This make is vital as it provides essential information about the vehicle without unraveling every piece. Certain makers have a unique way of designing their vehicles, depicting how fast the depreciation rate is for their products.
Model Or Body Type
This is the physical make of the car. In our case, input the model as Civic. Different models or body types have different depreciation rates.
Honda has various models based on the features impeded on them. Choose the model you wish to determine the depreciation rate.
Year Of Model
Every vehicle has its year of model. That is the year a certain model was designed and released to the market. Choose the appropriate year to get a more exact answer.
You may select the Honda Civic model year 2021. These factors will help the calculator narrow down to a specific type of Honda.
Estimated Current Value
The estimated current value is the market value of the car when new. The cost of the new model based on these other factors gives the estimated product price after a certain period of usage.
Expected Driven Mileage Per Year
It would help if you gave an estimated mileage you can cover in a year for every year you wish to test. Please use your history with vehicles to strike the best estimate for the expected, driven mileage per year.
Honda Civic Depreciation Rate Based On The Model Year
Honda is a brand that has been operating in this field of motor vehicles for a long. Their models have varying depreciation rates depending on their body type, mileage covered, and how well they are maintained.
For example, the 2019 and 2018 models have recorded the lowest depreciation rate of 3% and 9%, respectively. However, the key to note is that after 2019, the rates started to rise with a rise in the price when new.
Here is a table illustrating the depreciation rates in percentage and actual values for Honda Civic models over the years.
For more depreciation rate information on your Honda Civic, have a mechanic evaluate your vehicle’s internal components and exterior. This will give you a more accurate evaluation of your vehicle or one that you intend to purchase.
For a better understanding of the depreciation rates of the Honda Civic, here are frequently asked questions to help.
Q: How Does The Car Depreciation Calculator Operate?
It is software designed calculator to estimate the depreciation rate of a car based on the information given. This information includes but is not limited to the make, mode, year of the model, estimated driven mileage per year, and the exact value of the car when new.
The calculator gives the best estimate, which can be topped up with a car’s mechanics evaluation.
Q: Does A Honda Civic Have A Good Resale Value?
Yes. Honda Civic does have a good resale value. However, the value depends on how well it has been maintained and covered mileage.
If you plan to sell your vehicle, keep it well-serviced to ensure the highest resale value even after depreciating.
Honda Civic models depreciate at a higher rate than most of their predecessors. However, if well maintained and used with care, Honda Civic maintains a good resale value. With a low initial MSRP cost, its depreciation forms a small percentage of factors considered during resale.
To have an accurate estimate rate, be specific and give correct data to the computer. Consider having a mechanic perform an overhaul evaluation of the car to ascertain its exact value.