Three Honda Vehicles Earn Residual Value Awards
Central Michigan drivers, if you’re looking for a new car, you want to invest your money wisely, and there are few ways to be more confident in your investment than by shopping around for the cars with the highest residual value ratings. Well, ALG just released their 2015 Residual Value Awards, and three Honda models made the list.
But first, what’s residual value, and why should you care?
What’s Residual Value?
If you can piece together what the words “residual” and “value” mean separately, we think you’ll get a clear picture of why this is so important when shopping for a car. “Residual” basically means the amount left over, and we think you already know what “value” means. So the “residual value” would be the value left over… but after what?
After a certain period of ownership—a vehicle’s value doesn’t fall to 50% right after you drive it off of the lot, but it does get there eventually. The higher the residual value, the longer it takes for a car to depreciate.
The Fit, CR-V, and Odyssey
We were excited to hear that three different Honda models made the ALG Residual Value Awards list, though this is familiar territory for Honda, who have had over 30 models earn Residual Value Awards since 2000. And for this year, it’s three of out most popular vehicles:
- The 2015 Honda Odyssey won the ALG Residual Value Award for the Best Minivan (MPV) category.
- The 2015 Honda CR-V won the ALG Residual Value Award for the Compact Utility segment.
- The 2015 Honda Fit took home the ALG Residual Value Award for the Sub-Compact Car class.
Jeff Conrad, general manager and senior vice president of Honda Division responded to the ALG Residual Value Awards, saying “Our brand is committed to retail sales leadership through top-quality, well-equipped vehicles, and that sets Honda apart in a way that benefits our customers now and in the years to come.”
Test Drive a Honda Today
We’ve gone in depth on many of these models here before, but the best way for you to see what they have to offer is to do so in person. We have these three award-winning models as well as the rest of the Honda lineup. Find a Mid-Michigan Honda Dealer near you and let us put you in the driver’s seat of a new Honda so that you can see it firsthand.