The 2016 Honda Fit Residual Value Scores High
If you’re looking for a new car and haven’t peeked at the 2016 Honda Fit residual value estimates, you should make it your top priority. We put the Fit’s residual value estimates up against some of the top hatchbacks in the industry to give drivers an idea of what the best value is in the Mid-Missouri area. Most people already know that the Fit is one of the most fuel efficient cars in the area, but that’s just the start of its value—it has a suite of advanced features, a spacious interior, and timeless good looks.
All of those traits of the Fit combine to create a car that will age well, at least according to the residual value estimates from ALG. Before we compare the residual value of this hatchback to a few others, we should give an overview of just what residual value is.
What Is Residual Value?
Most drivers have heard the myth that cars lose half their value when they leave the dealership, and while that’s clearly not the case, there is a bit of truth to it: Cars depreciate over time. The residual value of a car is its current value expressed as a percent of its initial price—so if it had actually lost half its value, it would have a 50% residual value.
While we can’t know the future, there are organizations that make a business out of estimating auto stats and specs, and that includes value. So we’ve compared the 2016 Honda Fit residual value estimates from ALG against competing hatchbacks.
Residual Values for the Competition
It can seem like the idea of residual value only matters for drivers who plan to sell their cars one day, but the truth is that a residual value is a way of boiling down all of the pluses and minuses about a vehicle and putting a number to it. And when we look at the numbers, the Fit comes out on top:
- The entry-level 2016 Honda Fit LX with a CVT has ALG residual value scores of 55% at 36 months and keeps a respectable 42% at 60 months of ownership.
- Toyota’s competitor, the 2016 Yaris is another hatchback, but when it comes to value, it falls short at 49% after 36 months and 36% after 60 months.
- 2016 Hyundai Accent hatchbacks have 36-month residual value scores of 43%, dropping to 28% at 60 months of ownership.
- A 2016 Kia Rio hatchback has estimated residual values of 43% at 36 months and 30% at 60 months.
- The 2016 Chevy Spark ALG residual value estimates start low at 33% after 36 months of ownership and drop further to 20% at 60 months.
- A 2016 Ford Fiesta hatchback might offer a little more versatility than the sedan, but its residual value numbers are still low at 40% (36 months) and 28% (60 months).
- The 2016 Kia Soul has ALG residual value ratings of 50% after 36 months of ownership and 36% after 60 months.
- The 2016 Mazda3 hatchback has residual value ratings of 52% after 36 months and 36% after 60 months.
- 2016 Nissan Versa Note models’ S trim levels have ALG residual values of 43% after 36 months and 30% after 60 months.
- The 2016 Volkswagen Golf managed ALG residual value estimates of 46% after 36 months of ownership and 31% after 60 months of ownership.
The Fit isn’t the only vehicle that leads its competitors on value; we compared the 2016 Chevy Malibu residual value to the Accord and found a similar advantage for the Honda car.
Test Drive a Honda Fit
The residual value distills a car down into a number, but the 2016 Honda Fit is so much more than that. Stop by a Mid-Missouri Honda Dealer near you for a test drive.
Mid-Missouri Honda Dealers includes Honda of Jefferson City, Don Wessel Honda, Columbia Honda, and Roper Honda.