Compare the 2016 Chevy Malibu Residual Value to the Honda Accord
Before buying your next new midsize car, you should consider how the 2016 Chevy Malibu residual value compares to a competitor like the 2016 Honda Accord. We put it up against the Accord LX-S Coupe and found that drivers looking to make a good investment might prefer the Honda. Let’s take a look at just why that is.
What Is Residual Value?
If you have ever heard the old myth that a car loses half its value when you drive it home, you have an idea of what residual value is. Put simply, it’s the value of a car that remains after a given time of ownership, often expressed as a percentage of its initial purchase price. If it were true that a car lost half its value when you drove it off the lot, it would have a 50% residual value.
Why Does Residual Value Matter on a New Car?
If you’re thinking “shouldn’t all new cars have a 100% residual value?” you are correct. The residual value that can help you make a smart choice for your next new car is an estimated residual value from a group like Kelly Blue Book or ALG. They look at a car, inspect its features and specs, and compare it to the rest of the auto world to get an estimate of what its residual value will be in a few years.
How Does the 2016 Chevy Malibu Residual Value Compare?
While we can’t know exactly what goes into the ALG residual value calculations, a higher residual value is usually an indicator of a vehicle that you could confidently and easily sell in a few years, which says a lot about a car.
- The 2016 Chevy Malibu residual value numbers come in at 39% at 36 months and 27% at 60 months for the base-level LS trim.
- The 2016 Honda Accord LX-S Coupe with CVT, however, has an ALG residual value of 54% at 36 months and 40% at 60 months.
Test Drive an Accord
Let us show you everything the Accord has to offer so that you might see why it has such a high residual value. Visit a Mid-Missouri Honda Dealer near you to get behind the wheel of a brand-new Honda.
Mid-Missouri Honda Dealers includes Honda of Jefferson City, Don Wessel Honda, Columbia Honda, and Roper Honda.