Honda Accord Depreciation
A Honda Accord will depreciate 42% after 5 years and have a 5 year resale value of $18,854.
The Honda Accord has been a bellwether car for decades, and is a model known for holding its value. New Accord prices have risen significantly over the years, so it depreciates faster than it used to. However, if you are looking for a great used car that won't give you problems down the road, the Accord is a great pick.
The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $32,340 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the Honda Accord.
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Honda Accord Depreciation
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $6,756 | 79.11% | $25,584 | 12,000 | 2022 |
| 2 | $7,416 | 77.07% | $24,924 | 24,000 | 2023 |
| 3 | $9,010 | 72.14% | $23,330 | 36,000 | 2024 |
| 4 | $11,988 | 62.93% | $20,352 | 48,000 | 2025 |
| 5 | $13,486 | 58.30% | $18,854 | 60,000 | 2026 |
| 6 | $15,753 | 51.29% | $16,587 | 72,000 | 2027 |
| 7 | $18,214 | 43.68% | $14,126 | 84,000 | 2028 |
| 8 | $19,297 | 40.33% | $13,043 | 96,000 | 2029 |
| 9 | $20,614 | 36.26% | $11,726 | 108,000 | 2030 |
| 10 | $23,168 | 28.36% | $9,172 | 120,000 | 2031 |
Honda Accord Depreciation
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $6,756 | 79.11% | $25,584 |
| 2 | $7,416 | 77.07% | $24,924 |
| 3 | $9,010 | 72.14% | $23,330 |
| 4 | $11,988 | 62.93% | $20,352 |
| 5 | $13,486 | 58.30% | $18,854 |
| 6 | $15,753 | 51.29% | $16,587 |
| 7 | $18,214 | 43.68% | $14,126 |
| 8 | $19,297 | 40.33% | $13,043 |
| 9 | $20,614 | 36.26% | $11,726 |
| 10 | $23,168 | 28.36% | $9,172 |
Buying a Honda Accord New vs Used
If you purchase a used Honda Accord that is 2 years old, then you could save $7,416 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $6,070. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Accord models become available.
What About Honda Accord Insurance Costs?
The average cost to insure a Honda Accord is about $1,485 per year. This adds up to around $7,425 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a Honda Accord. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure
The Best Model Years to Buy a Honda Accord
The 2020 Honda Accord is our top pick for the best model year value for the Accord. With the 2020, you would only pay, on average, 79% of the price as new, with 92% of the vehicle's useful life remaining. The 2019 and 2017 model years are also attractive years for the Accord, and provide a relatively good value. Our rankings consider multiple factors, including the Accord's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the Honda Accord models.
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Honda Accord Historical Depreciation
| Year | New Price | Current Price | Maintenance | $ Decline | % Decline | % Paid | Value Rating |
|---|---|---|---|---|---|---|---|
| 2021 | $32,340 | $32,340 | $200 | $0 | 0% | 100% | |
| 2020 | $31,515 | $25,161 | $230 | $7,179 | 22.2% | 79.11% | Best |
| 2019 | $29,865 | $23,295 | $279 | $1,866 | 7.42% | 77.07% | Better |
| 2018 | $28,418 | $20,856 | $356 | $2,439 | 10.47% | 72.14% | Good |
| 2017 | $27,374 | $17,647 | $420 | $3,209 | 15.39% | 62.93% | Better |
| 2016 | $27,231 | $16,395 | $520 | $1,252 | 7.09% | 58.3% | Good |
| 2015 | $26,681 | $14,409 | $725 | $1,986 | 12.11% | 51.29% | |
| 2014 | $26,537 | $12,398 | $806 | $2,011 | 13.96% | 43.68% | |
| 2013 | $26,382 | $11,523 | $882 | $875 | 7.06% | 40.33% | |
| 2012 | $25,617 | $10,282 | $994 | $1,241 | 10.77% | 36.26% | |
| 2011 | $25,409 | $8,214 | $1,009 | $2,068 | 20.11% | 28.36% | |
| 2010 | $24,956 | $6,738 | $1,129 | $1,476 | 17.97% | 27% | |
| 2009 | $24,814 | $6,483 | $1,303 | $255 | 3.78% | 20.88% |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2021 | $32,340 | 100% | |
| 2020 | $25,161 | 79.11% | Best |
| 2019 | $23,295 | 77.07% | Better |
| 2018 | $20,856 | 72.14% | Good |
| 2017 | $17,647 | 62.93% | Better |
| 2016 | $16,395 | 58.3% | Good |
| 2015 | $14,409 | 51.29% | |
| 2014 | $12,398 | 43.68% | |
| 2013 | $11,523 | 40.33% | |
| 2012 | $10,282 | 36.26% | |
| 2011 | $8,214 | 28.36% | |
| 2010 | $6,738 | 27% | |
| 2009 | $6,483 | 20.88% |
Honda Accord Depreciation Rankings
We've ranked over 200 models from best to worst for Depreciation. See where the Honda Accord ranks for Depreciation compared to other vehicles. Also check out how the Accord stacks up in our rankings for Maintenance, Insurance and Overall Costs.
Other Honda Accord Costs of Ownership
Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major Honda Accord costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses:
