Honda Rides into the Winner’s Circle for Residual Value
Whether you’re looking to lease/buy a used car, or sell the one you have, knowing what it’s really worth, the “residual value” can help you figure out what to pay or ask. And isn’t it great to know that Honda is the top of the heap for residual value? That’s not just Schomp Honda tooting our own horn. It’s what J.D. Power says, too.
For 2022, Honda was the Overall winner of the J.D. Power “2022 U.S. ALG Residual Value AwardsSM” in the mass-market (versus “premium”) segment. Three Honda models – the Civic, Passport and Odyssey – singled out for excellence. J.D. Power is the respected consumer insight and advisory company.
Why Residual Value Matters
Residual value – the ability of a brand or model to retain its value is key in setting the lease cost of a vehicle. As the overall mass-market winner of the 2022 ALG Residual Value Award, Honda has demonstrated both quality and good design. To determine the award winners, ALG evaluated 284 different models in 19 brands for several variables.
According to J.D. Power ALG Division VP Eric Lyman, “The brands and vehicle models that rise to the top demonstrate that they score well across the award program’s criteria, including manufacturers’ superior design and quality.”
You’re in Good Hands with Honda
While these residual value awards may be meaningful when determining the worth of a vehicle you’re buying/leasing or selling, it’s indicates that Hondas are high-quality vehicles. With their combination of gorgeous design, comfort, safety and efficiency, you know that your new or CPO Schomp Honda is going to be a great ride for you now and into the future.