Honda CR-V Resale Value: Do They Hold Their Value? What To Know

in Car Costs and Prices
Rear view of a Honda CR-V

Source: Flickr

The Honda CR-V, a mainstay in the SUV segment since 1995, has been a popular choice due to its continued emphasis on practicality and comfort. Known for its role in popularizing the SUV category, the CR-V, short for “Comfortable Runabout Vehicle,” remains a global best-seller for Honda. Although the SUV segment is now a highly competitive market, the CR-V remains a staple and is Honda’s bread and butter.

But how does it fare in terms of resale value and retention?

The CR-V dominates the SUV segment with its excellent fuel economy and safety scores, making it an ideal family vehicle. But is it something you can count on in terms of resale value? Today, we evaluate the Honda CR-V resale value and determine how well it retains its value over time and how it stacks up against its closest competitors.

Honda CR-V Resale Value

Thankfully, the Honda CR-V demonstrates a solid resale value, ranking seventh among Honda models in terms of value retention over five years. According to the analysis on iSeeCars.com, the 2023 Honda CR-V retains about 63.52% of its original value after five years. This figure is based on a comprehensive study of over 3 million cars to determine the five-year depreciation from their MSRP.

The Honda CR-V boasts a commendable resale value. Yet, it is noteworthy that it is surpassed by other Honda models, such as the Ridgeline, Fit, and several Civic variants, in terms of value retention. This lineup-wide comparison can offer valuable insights if you weigh your options within the Honda brand.

In contrast, FIXD conducted its research on the resale value of the Honda CR-V, which is somewhat consistent with iSeeCars’ findings. Their study revealed that the Honda CR-V lost an average of 27.7% of its value in the first five years. This depreciation rate is crucial for potential buyers, particularly when comparing the CR-V to other vehicles in its class.

The research also suggests that the best years to own a Honda CR-V, in terms of balancing depreciation and maintenance costs, are the 2005-2014 model years. For those looking to maximize value, it’s recommended not to buy a model older than 2010.

Like other vehicles, several factors influence the depreciation rate of a Honda CR-V, including age, body type, mileage, condition, and color. SUVs like the CR-V generally depreciate slower than luxury sedans.


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Used Honda CR-V Buyer’s Guide (Powered by CoPilot Price Pulse Tool)

This next section gives you a quick overview of the Honda CR-V’s performance in the used car market. We’ll use our handy Price Pulse Tool to gain numerous key insights that will help us gauge the CR-V’s value retention.

For this example, we look at the 2018 Honda CR-V using the Price Pulse tool and found interesting trends:

  • CR-V has a substantial resale value: The 2018 Honda CR-V has a current price premium of $4,734. This is a 24% increase from what was initially forecasted, indicating that the vehicle retains its value better than expected.
  • Market prices are decreasing: Prices for used 2018 Honda CR-Vs have dropped by $1,764 from their highest point. This might mean that after a time when prices were going up, they’re starting to level off and become more consistent.
  • It’s a buyer’s market: According to the Price Pulse tool, the data suggests it’s becoming a better time to purchase a 2018 Honda CR-V as the prices are more favorable. However, the trend indicates that the price tags on 2018 Honda CR-Vs might keep dipping in the coming months. So, if you’re in the market for a deal, it could pay to play the waiting game for better deals.
  • Comparing with other CR-V years: The 2018 Honda CR-V is kind of the Goldilocks of used cars — not too old, not too new — making it just right for holding onto its value. It’s priced slightly higher than the 2016 and 2020 CR-Vs, showing it’s still in high demand. Plus, it’s right in the sweet spot, cost-wise, sitting snugly between what you’d pay for the 2017 and 2019 models. This tells us that the 2018 CR-V has kept its worth steady over the years.

This impressive resale performance is indicative of the CR-V’s enduring popularity and Honda’s reputation for reliability, which often contributes to solid resale values for its vehicles.


HONDA CR-V PROS AND CONS

We talk about the Honda CR-V’s pros and cons. What makes it one of the most popular crossovers? What are the weakest aspects of the CR-V? Let’s take a look!


Honda CR-V Resale Value VS Competitors

The crossover SUV segment is one of the most hotly contested markets in the industry. So, how does the Honda CR-V hold up against some of its closest market rivals?

  • Toyota RAV4: A Toyota RAV4 is known to depreciate 21% after five years, with a resale value of $27,757. It holds its value well and is synonymous with value retention, although it is not at the top of its category like other models from Toyota. In this case, the RAV4 might have a slight edge over the CR-V.
  • Nissan Rogue: A Nissan Rogue will depreciate by 28% after five years, leaving it with a resale value of $25,495. The value drops sharply in the first year but then levels out, offering better value retention than other crossovers after the initial depreciation. For this head-to-head, the CR-V slightly edges out the Rogue in terms of 5-year value retention.
  • Ford Escape: The Ford Escape is expected to depreciate by 31% after five years, with a 5-year resale value of $24,276. This suggests a more significant depreciation when compared to the Honda CR-V and Toyota RAV4.
  • Kia Sportage: It sees a depreciation of 29% after five years, which is higher compared to the CR-V and Forester, with a five-year resale value of $23,352, indicating a slightly faster rate of value loss.

These insights reflect how the Honda CR-V resale value maintains a competitive edge compared to its fiercest competitors. The CR-V’s lower depreciation and higher retained value make it a compelling choice for those concerned with long-term costs and resale value. The RAV4’s strong value retention is notable but doesn’t lead the segment.


HOW LONG DO HONDA CR-VS LAST?

It first came to life in 1995 and has remained in production ever since, offering a mix between a car and a minivan. It’s a sleek car, but it’s vital to consider lifespan. You might wonder - how long do Honda CR-Vs last?



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