Why do Honda and Toyota products hold their value better than any other vehicles?
05-19-2011, 01:53 PM
#1
Why do Honda and Toyota products hold their value better than any other vehicles?
I have been in the auto sales for about 1 year now and i never understood why or how a 12 year old honda or toyota that runs okay with 200k miles on it still be worth 3000 or so while a comparable ford or chevy is only worth 500. I work for Carmax and their purchasing department says they try to give people whatever these cars are going for at the auctions. But why exactly are the toyotas and hondas worth more even if they are in bad condition???
05-19-2011, 01:57 PM
#2
Three Wheelin'
Because they're made in Japan.
And Carmax does not try to give people whatever these cars are going for at the auctions. Their non-negotiable window prices are inflated big time just like any dealer.
And Carmax does not try to give people whatever these cars are going for at the auctions. Their non-negotiable window prices are inflated big time just like any dealer.
Last edited by silver3.5; 05-19-2011 at 02:00 PM.
05-19-2011, 01:57 PM
#3
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Welcome, moved this to the appropriate area.
05-19-2011, 02:02 PM
#5
Suzuka Master
reliability is probably one reason
05-19-2011, 02:03 PM
#6
In the Mid-South meow
iTrader: (2)
Proven reliability.
05-19-2011, 02:04 PM
#7
Niner Faithful
Also fleet sales.....rental fleets flood the market with used Ford and GMs after 1-2 years in service which drive down the cost of the cars...supply and demand.
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05-19-2011, 02:04 PM
#8
I thought the majority of cars are assembled in the US with parts from other countries? Doesnt GM make their cars in Mexico now?
05-19-2011, 02:25 PM
#9
The sizzle in the Steak
Red text = sarcasm.
05-19-2011, 06:06 PM
#11
Missing my
To the OP, demand dictates price.
05-19-2011, 07:42 PM
#12
What about Hyundai? I love their new Sonata. Its less expensive than the Accord or Camry. Comes with a much longer factory warranty (5 years/60,000 miles bumper to bumper) and 100k/10 year powertrain. While the accord and camry give you a 3 year/36 thousand mile warranty only.
05-19-2011, 10:39 PM
#13
What about Hyundai? I love their new Sonata. Its less expensive than the Accord or Camry. Comes with a much longer factory warranty (5 years/60,000 miles bumper to bumper) and 100k/10 year powertrain. While the accord and camry give you a 3 year/36 thousand mile warranty only.
I also think Honda and Toyota's quality has dropped in recent years, but if I only had a couple grand and needed a car, I'd try to find a well maintained, 10+ year old Honda, too.
05-20-2011, 12:13 AM
#14
אני עומד עם ישראל
Because at one point they simply were better cars. They sold less to fleets, safer, cheaper to maintain, more reliable, etc.
The scoreboard has evened out quite a bit now. Residuals for domestics are on the rise (ie Ford).
The scoreboard has evened out quite a bit now. Residuals for domestics are on the rise (ie Ford).
05-20-2011, 12:17 AM
#15
You can buy one used and make the necessary upkeep and repairs and than if you sell it you can easily find a buyer and almost lose nothing. The important part is someone will take it off your hands fast.
05-20-2011, 02:58 AM
#16
It's because of VTEC, yo!
05-20-2011, 05:54 AM
#17
Someday, an RS6 Avant+
It's because their cars don't suck.
Most USDM Hondas and Toyotas are US built, and are more than 50% US/Canadian content. Car and Driver did a story on this in their April issue. This will open your eyes:
http://www.caranddriver.com/features/11q1/domestic_bliss_a_graphic_representation_of_what_s_ really_made_in_america_-feature
Most USDM Hondas and Toyotas are US built, and are more than 50% US/Canadian content. Car and Driver did a story on this in their April issue. This will open your eyes:
http://www.caranddriver.com/features/11q1/domestic_bliss_a_graphic_representation_of_what_s_ really_made_in_america_-feature
05-20-2011, 06:56 AM
#18
AZ Community Team
It's because their cars don't suck.
Most USDM Hondas and Toyotas are US built, and are more than 50% US/Canadian content. Car and Driver did a story on this in their April issue. This will open your eyes:
http://www.caranddriver.com/features/11q1/domestic_bliss_a_graphic_representation_of_what_s_ really_made_in_america_-feature
Most USDM Hondas and Toyotas are US built, and are more than 50% US/Canadian content. Car and Driver did a story on this in their April issue. This will open your eyes:
http://www.caranddriver.com/features/11q1/domestic_bliss_a_graphic_representation_of_what_s_ really_made_in_america_-feature
In addition they are reliable, low cost to maintain and operate, easy to use and they last a long time. Sometimes they are the best in their class (CRV, Odyssey, Civic, ...).
05-20-2011, 11:34 AM
#19
Team Owner
like someone said, supply and demand and reputation is what caused the demand in the first place and Cycle goes on...
if it was Ford/Chevy that had the pedal problem that Toyota had... they could have been in much different situation than Toyota right now.
if it was Ford/Chevy that had the pedal problem that Toyota had... they could have been in much different situation than Toyota right now.
05-20-2011, 11:55 AM
#20
I have been in the auto sales for about 1 year now and i never understood why or how a 12 year old honda or toyota that runs okay with 200k miles on it still be worth 3000 or so while a comparable ford or chevy is only worth 500. I work for Carmax and their purchasing department says they try to give people whatever these cars are going for at the auctions. But why exactly are the toyotas and hondas worth more even if they are in bad condition???
05-20-2011, 01:29 PM
#22
I think it's a combination of perceived quality and value. And as others have mentioned, fleet purchases (or lack thereof) have helped maintain residual values as well.
A number of years ago I didn't have much of a desire to purchase a Honda product. For daily transportation, my tastes generally reflected European offerings. My first Honda automotive product was a 2005 Accord Coupe 6MT. It replaced a 540 six speed. The 540 was a wonderful machine in theory, but didn't do all that well in execution. Lots of trips to the dealer for little bags full of BMW goodness, served with an attitude by the service staff that they were somehow doing me a favour when it was back in for it's scheduled warranty claim (no, I did not mean scheduled maintenance). Although not driven regularly, the Accord has been flawless. And I feel as if I'm driving something that actually reflects the price I paid for it.
No complaints at all with my Honda, and I consider it representative of the company and automotive offerings. I think most people that drive them feel the same.
Terry
A number of years ago I didn't have much of a desire to purchase a Honda product. For daily transportation, my tastes generally reflected European offerings. My first Honda automotive product was a 2005 Accord Coupe 6MT. It replaced a 540 six speed. The 540 was a wonderful machine in theory, but didn't do all that well in execution. Lots of trips to the dealer for little bags full of BMW goodness, served with an attitude by the service staff that they were somehow doing me a favour when it was back in for it's scheduled warranty claim (no, I did not mean scheduled maintenance). Although not driven regularly, the Accord has been flawless. And I feel as if I'm driving something that actually reflects the price I paid for it.
No complaints at all with my Honda, and I consider it representative of the company and automotive offerings. I think most people that drive them feel the same.
Terry
05-21-2011, 03:00 AM
#23
Ultra Negro
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If I recall wasn't there 2 Toyota's that crossed the artic circle in near stock trim, other than tires and a lift, the vehicles made it with no issues other than a couple of tire blowouts, haven't seen any american or european vehicles do that yet, and if I also recall the Toyota Hilux is the most dependable truck on the planet, it's like the AK, put it in dirt, get it wet, get sand everywhere, but it still runs.
05-22-2011, 01:38 AM
#24
Someday, an RS6 Avant+
I think it's a combination of perceived quality and value. And as others have mentioned, fleet purchases (or lack thereof) have helped maintain residual values as well.
A number of years ago I didn't have much of a desire to purchase a Honda product. For daily transportation, my tastes generally reflected European offerings. My first Honda automotive product was a 2005 Accord Coupe 6MT. It replaced a 540 six speed. The 540 was a wonderful machine in theory, but didn't do all that well in execution. Lots of trips to the dealer for little bags full of BMW goodness, served with an attitude by the service staff that they were somehow doing me a favour when it was back in for it's scheduled warranty claim (no, I did not mean scheduled maintenance). Although not driven regularly, the Accord has been flawless. And I feel as if I'm driving something that actually reflects the price I paid for it.
No complaints at all with my Honda, and I consider it representative of the company and automotive offerings. I think most people that drive them feel the same.
Terry
A number of years ago I didn't have much of a desire to purchase a Honda product. For daily transportation, my tastes generally reflected European offerings. My first Honda automotive product was a 2005 Accord Coupe 6MT. It replaced a 540 six speed. The 540 was a wonderful machine in theory, but didn't do all that well in execution. Lots of trips to the dealer for little bags full of BMW goodness, served with an attitude by the service staff that they were somehow doing me a favour when it was back in for it's scheduled warranty claim (no, I did not mean scheduled maintenance). Although not driven regularly, the Accord has been flawless. And I feel as if I'm driving something that actually reflects the price I paid for it.
No complaints at all with my Honda, and I consider it representative of the company and automotive offerings. I think most people that drive them feel the same.
Terry
I own a 2001 Honda Odyssey, had a 1999 Saber (2G TL), the wife had an 1985 Accord and my Father In Law had a 2000 Accord. Never any major issues (sans the tranny in the Saber). Just easy, reliable cars. Nothing to hate or really dislike.
My Subaru (100% built in Japan) has been excellent, and only an A/C compressor went on it (covered under warranty). 5 years old and no issues.
Only now is the US turning out a number of cars that seem to be impressive and look good too (CTS/LaCrosse/Mustang/Explorer/Regal/Cruze/Impala/G8/SRX). The reliability will come along, but the US was making bad cars for a long time, and only bankruptcy forced them to change in a good way. (I know, Ford didn't take any bail out money).
05-22-2011, 06:46 PM
#26
Racer
It's a lot to do with perception. Also, once you start looking back about 10 years or older, the Civics, Corollas, Accords, and Camrys were genuinely better cars than their domestic counterparts even when new.
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