Honda SUVs have a stellar reputation. They are also at the top of the list for retaining their value long after being paid for. The other companies that give Honda a challenge are Toyota and Subaru, whose cars also maintain their value well.
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Among the Honda SUV models, it’s the CR-V that shines.
The CR-V has a longer production run than the Pilot, Passport, and HR-V.
The Passport was produced a couple of years earlier, but it was a rebranded Isuzu Rodeo, not a Honda.
Do Honda SUVs hold their value well?
Honda SUVs hold their resale value well like the other bigger car brands such as Ford and Hyundai. An example is the CR-V model that will retain around 85% of it’s value after 3 years.
Let’s dive into the specific models.
We have a full overview of the most common problems among Honda’s SUV models.
Annual depreciation of the Honda HR-V (2021 – forward)
Here’s what you should expect in terms of depreciation on the lastest HR-V models:
- One year old? 14.11% value lost
- Two years old? 16.00% value lost
- Three years old? 18.00% value lost
- Five years old? 22% value lost
- Seven years old? 36.11% value lost
- Ten years old? 52.03% value lost
Although the Honda HR-V was sold in Japan, Europe, and other locations from 1998 to 2006, it showed up in the United States in 2013.
The HR-V does well in its first and fifth years regarding resale value.
However, once it reaches ten years, its resale is only higher than the Pilot.
Although the HR-V spent its early years as a hybrid when it was sold outside of the United States, when it was offered to the US market, its power came from a 1.8L inline 4-cylinder that was rather anemic.
For 2023, the HR-V will get a little more power from a 2.0L 4-cylinder, which will be welcomed by those looking at this compact SUV.
Annual depreciation of the Honda CR-V
- One year old? 11.42% value lost
- Two years old? 13.00% value lost
- Three years old? 15.00% value lost
- Five years old? 17.65% value lost
- Seven years old? 29.85% value lost
- Ten years old? 44.44% value lost
The Honda CR-V was first sold in the US in 1995. In its sixth generation of production, 2022 is the first year it has been offered a gas/hybrid power plant.
In 2023, the Honda CR-V gains a little length, width, and height, and its standard power comes from a turbocharged 1.5L engine that produces 190 horsepower.
That’s not bad compared to the depreciation numbers on Ford SUVs.
Annual depreciation of the Honda CR-V Hybrid
The Honda CR-V Hybrid was introduced in 2022, so there is very little depreciation data. Depreciation statistics will be hard to come by until a few are bought and sold.
If the Hybrid Honda CR-V holds its value as well as the hybrid Toyota RAV-4 does, then buying one is a sure bet you are getting a car that will still have value once it is paid for.
If the hybrid model has the same annual depreciation as the petrol-powered CR-V, it will still have a higher resale than many other SUVs because it’s a Honda.
Annual depreciation of the Honda Passport
- One year old? 10.67% value lost
- Two years old? 13.99% value lost
- Three years old? 15.37% value lost
- Five years old? 22.19% value lost
- Seven years old? 36.11% value lost
- Ten years old? 52.03% value lost
The first Honda Passports entered the market in 1994 and were sold until 2002. This model Passport was an Isuzu Rodeo that was badged as a Honda. In addition, they made a two-door convertible model, ala Jeep, and a four-door SUV; a few are still on the road today.
The current model Passport has been selling since 2019 and is a mid-sized SUV also, but it’s all Honda. Powered by Honda’s 3.5L V6, the Passport is front-wheel drive, with all-wheel-drive available.
Annual depreciation of the Honda Pilot (2021 – forward)
- One year old? 6.74% value lost
- Two years old? 12.96% value lost
- Three years old? 13.12% value lost
- Five years old? 26.93% value lost
- Seven years old? 57.63% value lost
- Ten years old? 59.62% value lost
Manufactured since 1992, the Pilot is the largest SUV Honda produces. The same 3.5L V6 powers it as the Passport. However, the Pilot is available with a third-row seat and is a slightly larger vehicle than the Passport.
Although, like the Passport, it is designated a mid-size SUV, Honda has stretched the limits of the term. In its fourth generation of production, the 2023 Pilot is larger than ever.
Do Honda SUVs Depreciate Faster Than Other Models/Brands?
Honda SUVs depreciate slower than other brands of SUVs and will hold their value well when maintained as they should be.
You can see here how fast Hyundai SUVs depreciate.
The Jeep Wrangler, and Toyota RAV-4 Hybrid, can beat out any other SUV for low depreciation rates.
However, the Honda CR-V and the HR-V are running a close third.
We also have data on how fast Toyota’s SUVs depreciate.
Which Models Depreciate The LEAST?
Honda CR-Vs have the lowest depreciation of any Honda, except for the Accord. It is not unusual to see 20-year-old CRVs for sale, and they still run fine.
That’s a testament to the brand’s longevity, and Honda SUVs have a reputation for holding their value.
Which Models Depreciate The MOST?
Over time, the Honda Pilot loses more value than other Honda SUVs. This difference is odd because it and the Passport are built on the same platform and powered by the same engine.
However, until the last few years, the Pilot has looked very boxy.
And the Passport is a new model and looks sportier.
The CR-V loses the least value, and the jury is still out on how the CR-V Hybrid will do in the resale market.
However, the Honda Accord Hybrid sibling does very well, so the CR-V should also. Time will tell.
Ways to maintain the value of your “Honda SUV.”
Buying an SUV that doesn’t lose half its value when you leave the lot is possible with a Honda.
However, how well you take care of your car is a significant factor in its resale value.
As advised by Honda, a clean car that has been maintained will have a higher resale value than the same model that has been neglected.
Things you can do to maintain your Honda’s value include:
- Keep your service records in the vehicle’s glove box.
- Keep the exterior washed and waxed
- Keep the interior of your SUV clean
- Keep the wheels washed, too.
- Keep your car maintained, including the brakes, tires, transmission, and cooling system.
- Have maintenance of your SUV done when it should be (in your car’s manual)
- If you get a recall notice, promptly make an appointment with your dealer.
- Keeping your mileage below 12,000 per year will help you maintain your SUV’s value.
Keeping your SUV clean, serviced, and running properly will help you get top dollar for it if you ever decide to sell.
However, Honda CR-Vs are kept by their owners for an average of 8.6 years. So, you may never get rid of it, but it’s nice to know if it will still have value if you decide to.
Honda SUVs hold their value well.
Honda has a reputation as a well-made car that will last a long time and hold its value.
Their SUVs hold up to that reputation, and you can rest assured that whether you buy an HR-V or a Honda Pilot, it will still be there for you 5 to 10 years from now.
It’s not unusual to see a Honda over 200,000 miles on the odometer. However, it will only reach that milestone if you take care of it by keeping it clean and servicing it when needed.
Recalls are also a factor in a sale. Every manufacturer has them, even Honda. Your vehicle will have more value if you have had any required recalls done before trying to sell your Honda SUV.