How to get the best resale value – Honda City

When it comes to cars, every car brand strives to engineer one like Honda City – an ideal family sedan and a gold standard for its segment. Being the first Honda car in India, this legendary Japanese sedan is one of the veteran cars and has been on sale since 1998. In its decades-long run, the Honda City proved its perennial durability long ago and it is easy to find folks happily using their old models of this car. While this is not the age of popularity for sedans, a prestigious status still gets associated with the Honda City for it has been a radically successful automobile. For an unparalleled durability and reputation, the Honda City is among the few cars that fetch the highest resale value. At the same time, here are some tips you should follow to maximise the resale value for your Honda City.

Factors Affecting Honda Amaze Resale Value

Condition

Picture this – you step inside an old car and find everything well-maintained. No scratches, blotches, or tears on the antique-looking upholstery. No creak when you recline or adjust the seats. No crackling sounds when you turn on music. Every feature works well and every part is neat and clean, even though it looks dated. It is a great feeling altogether and goes on to show how responsible the owner has been towards his car.

For the most part, the resale value of a car can be appraised by how it looks and feels. Moreover, while considering a pre-owned car, a buyer is always apprehensive of the expenses the car might demand in future if it has not been maintained adequately. This is even more prevalent for a premium car like Honda City. Hence, make sure your Honda City does not have rust, dents, or any other blemishes inside. Have your car detailed if needed. Ensure every feature of your car, whether it is electronic or not, remains in working condition. Along with all this, keep all service records organised as the history of your car plays a huge role in deciding a realistic resale value.

Odometer Reading

When someone looks to buy a used car, its odometer reading is one of the first details one wants to know. An odometer is a gauge that records every metre the car covers throughout its lifetime and displays the total distance covered on the instrument cluster.

It is not uncommon to see a high number of kilometres on the odometer of a Honda City but it is no exception when it comes to the general way of computing a car’s resale value. It is simple, the higher the odometer reading the lower the resale value. Moreover, if a mechanic advises you to tamper the odometer to reduce it and claim a higher resale value, do not fall for it. There are multiple ways to know if the odometer is tampered and once an odometer is found tampered, it can be a deal breaker.

Number of Owners

Today, when cars are more than just means of transport, every car has a different place in its owner’s lifestyle. Many owners pay a lot of attention and almost pamper their cars, while many prefer to get adventurous with their cars or can not manage enough time to take care of their cars. If a used car buyer is considering a car which has already been sold twice, it is hard for them to analyse how the car was used by its previous owners. Since we all know how different written information can be from reality, even with all the service records in hand, one generally does not completely trust a car which has been sold more than twice. This is why, the first and second owners of a Honda City get much better resale value for their car as compared to the third owner.

Model Popularity

Honda City has been on sale for over 26 years. In regions like Delhi, the scrappage policy for  petrol cars is 15 years, while it is 10 years for diesel cars. So, let’s take a look at the models of Honda City which are not more than 15 years old.

15 years ago, which was 2009, the City was in its third generation, which introduced Indians with its legendary i-VTEC engine. This exciting engine along with a sporty Arrow-shot design, and a bunch of premium bits which included a sunroof, led to the massive success of this version of Honda City. The premium sedan sold nearly 2 lakh units of this generation, which were jaw-dropping figures back then. The car had become a status symbol, and while the Hyundai Verna was there in competition, it was far from the point of outshining the glory of this version of Honda City.

In 2014, Honda launched the fourth generation City and addressed the void of a diesel engine by equipping it with a 1.5-litre i-DTEC diesel engine. This generation was better equipped and more spacious than the earlier generation. With the beloved petrol engine in combination with a contemporary in-demand diesel engine, more space, and features, the fourth-gen City seemed to have it all and went on to become the best-selling generation with nearly 3 lakh units sold. Moreover, it is worth remembering that the fourth generation was not immediately discontinued with the arrival of the fifth generation and was on sale until 2023.

The latest generation – fifth generation Honda City was launched in 2020. It is its most premium version and comes equipped with everything needed for a premium ride experience. As always, it packs unsurpassable comfort and after the 2023 facelift, the City also got equipped with some Level-2 ADAS features, enhancing its safety. However, with the facelift, Honda City dropped its diesel engine before the advent of BS6 Phase 2 emission norms.

Honda City has been an extremely popular car across its run and evolved to meet contemporary demands. Right of the gates, the City made a name for itself for an exciting performance. But over the years, it took on the role of a comfortable family sedan. Today, the Honda City is the best family sedan as far as mainstream cars are concerned. Whereas it still offers the sublime calibre and purity of the best naturally aspirated petrol engine across the passenger vehicle market.

Age

Except for the fine wines, ageing reduces the value of everything and cars are not exempt to the phenomenon, even if it is a durable car like Honda City. A brand-new car loses 10 percent of its value the second it leaves the showroom. It keeps on losing 10 percent of its value with each passing year. All the same, with an esteemed reputation and durability, Honda City holds its value longer than other cars hold their value. A 5-year-old Honda City can fetch a good resale value, which is 60 – 65 percent of its original value.

Accidental Status

Minor accidents are hard to avoid in a crowded region like India. Also, the damage done in such cases is negligible – mostly some scratches or small dents which can be easily removed. However, major accidents which also deform a car’s panels or damage components, can go unnoticed while making repairs. Although, if a car is inspected thoroughly by a good mechanic, the impairment caused by even a major accident can be largely mitigated. But still, for a potential buyer, a car which has suffered a major accident, does not remain as trustworthy as it would have been before the accident. An accidental car attracts a 30-50 percent lower resale value than its non-accidental version does.

If your Honda City had a serious accident, and after its repair, you have used it for many years without any problem, it is still best to disclose its history to a potential buyer. By doing this, your car might sell for less than what you wanted, but you would not get into any legal trouble.

Powertrains & Transmissions

The latest generation Honda City is powered by a 1.5-litre i-VTEC petrol engine which comes mated to a 6-speed manual gearbox and a creamy smooth CVT automatic. While the fourth generation was also powered by a 1.5-litre petrol engine it was a different and marginally less powerful unit. Honda has advanced the latest engine to meet the latest emission norms. There is no big difference in the overall performance of both engines; it is more or less the same. The same is true with the transmission options. The fourth generation, when launched, had brought in a smoother CVT automatic as compared to the one offered on the second and third generations. This CVT automatic is what the latest generation City offers on the  automatic variants.

The 1.5-litre turbo diesel engine remained in the City’s line-up from 2014 to 2023. Honda never offered it with an automatic transmission and it remained available with a manual gearbox.  The engine was popular for its fuel efficiency which was 24.1 km/l (ARAI claimed).

Since diesel engines have a shorter lifespan than petrol engines, a diesel-powered Honda City will claim a lower resale value as compared to a petrol-powered Honda City.

Expected Resale Value of Honda City

While the resale value of a Honda City relies on several key factors which we have already explained, here is the list of the expected resale value of the Honda City. Do remember, that these prices can vary concerning the vehicle’s overall condition.

Best Time to sell your Honda City

Like any other, it is best to sell a Honda City within 5 years of its age. Durable and reliable as it is, a Honda City loses a big part of its value after 5 years or so. Moreover, if your Honda City is within an extended warranty plan of Honda, it will pay dividends in fetching a high resale value.

Summary

Honda City is the longest-running mainstream car in India and as an iconic automobile, it is held in high esteem. Those with a penchant for cars like to preserve cars like Honda City. Since they go in the collection of vintage legendary cars, the preference is opposite to that of the case of the resale value – the older the better. Nonetheless, as always, a great advantage of owning a Honda City is a great resale value. While its status, reliability, and durability help it command a magnificent resale value, the generic aspects like condition, age, accidental status, odometer reading, and model popularity do have a huge role to play in deciding the worth of a used Honda City.

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