Used Honda cars
Honda is one of the most trusted brands in the Philippines. It currently holds an 11 percent market share of the local automotive market and is the third largest car company in the country in terms of sales volume. What separates this brand from its competitors such as Toyota and Mitsubishi is its upscaling of features and amenities for all of its car models.
By comparison, Honda’s car units are more expensive than most of its Japanese, Korean and American rivals. This can be attributed to the standard safety and interior features and the constant installation of technologies such as VTEC (Variable Valve Timing and Lift Electronic Control) and VVTi (Variable Valve Timing with Intelligence) which can be found in most of its car models released from the mid-90s to the present.
Why second hand Honda cars are still expensive
Some of the factors that determine the price of a second hand car are its mileage, general condition, trim level and year built. While the car’s engine, exterior and interior are subject to wear and tear, its technology, such as the electronics, driving system, and amenities are less likely to be affected.
As such, Honda cars, despite being used, still retain a high resale value. Furthermore, the Japanese car brand is a fan of automatic transmission, and has released a driving feature called Continuously Variable Transmission (CVT). Only few entry level Honda models have manual transmissions.
Most brand new cars will usually lose 20 percent of its original value once it leaves the showroom. Honda models also follow this rule. The price of a secondhand 2013 Honda City is likely to be P100,000 less than a brand new model whose entry level unit costs P756,000.
Facelifting and upscaling
Aside from upscaling their models with standard features focused on creating an easy driving experience, such as power features and additional safety equipment such as ABS and passenger airbags, Honda is also known for constantly redesigning its models. The Honda Civic, in particular, now expands 10 generations and has an average redesign schedule of four years.
Getting a bargain
One of the most effective ways to get a bargain for a used Honda model is to control the negotiation terms of the car. Always know that the price of a second hand unit is still negotiable and the sticker price is not its final price.