Who Wins on Residual Value: Chrysler or Honda?
When you are looking to invest in a new family vehicle, you need to make sure that you’re investing smart—after all, most families hold onto their minivans for years and years—and that means you’ll need to take residual value into account. What is residual value, and how do the values for the 2015 Chrysler Town & Country and 2015 Honda Odyssey compare? We’ve got the answers for you.
Comparing the Minivans
First, we have to answer the question “what is residual value?” for those of you who haven’t come across it before. Let’s start with a story: after purchasing a new vehicle, a driver decides they aren’t interested and wants to sell it back the next day, only to be told that it’s only worth half as much.
Now, this story is one many of us have heard, and while it is certainly an exaggeration, there is some truth to it. When you drive your car off the lot, its value depreciates over time. And companies like ALG calculate estimates of a vehicle’s residual value to give drivers like you the tools you need to make a smart investment.
So, what are the ALG residual values for these two minivans?
- At 36 months, the 2015 Honda Odyssey LX has an ALG residual value of 53%, and at 60 months, it drops down to 37%.
- The 2015 Town & Country, on the other hand, has a 36-month residual value of 42% and a 60-month residual value of only 29%.
We aren’t privy to all of the details ALG uses to calculate these estimates, but we do know that they are based on the features of a given vehicle and how attractive they may make it to a future buyer. Honda’s new definition of standard features seems to be helping them out immeasurably.
Test Drive an Odyssey Today
At the end of the day, the residual value is just one part of the picture. You need to experience the 2015 Honda Odyssey for yourself in order to decide if it’s the right car for you. Visit a Mid-Missouri Honda Dealer today and let us put you behind the wheel for a test drive. We think you’ll agree that it’s one of the most enjoyable, fun-to-drive minivans on the market.