Metro Detroit drivers, if you think you’ve seen more 2015 Honda Accords on the street lately, you’re not imagining things. The Accord is one of our most popular vehicles here at Detroit Area Honda Dealers, and we think it has no trouble taking on competition like the 2015 Chevy Malibu. Let’s see which of these vehicles makes for a smarter investment by comparing the 2015 Accord’s residual value with that of the Malibu.
But first, what’s residual value?
Defining Residual Value
Have you ever heard someone say that the value of a car drops by half the second you drive it off of the lot? It’s not true, but the idea that a car depreciates from the moment you buy it has some truth to it. And the value of the vehicle that remains after a certain amount of time is called the residual value.
Companies like ALG make it their business to predict these residual values based on past performance of a vehicle as well as current market trends and features, and they define them as a percentage of the vehicle’s original cost for the sake of an easy comparison.
Now that we’ve got that out of the way, what do the numbers look like for the Accord and the Malibu?
The Accord Leads on Residual Value
Honda has been making the Accord better and better year after year, and after decades of production, it’s not too surprising to see that a relative newcomer like the Malibu comes up short.
- The 2015 Accord LX Sedan with CVT has an ALG residual value of 54% after 36 months and 40% after 60 months.
- The 2015 Chevy Malibu, on the other hand, only has a 36-month residual value of 45% and a 60-month residual value of 34%.
We think the big difference is that Honda has given their vehicles some of the best standard features, putting them into a class that will still have features drivers demand in the coming years.
Test Drive the Accord Today
There’s so much more to a car than its value, and if you visit a Detroit Area Honda Dealer, we’d like to show you firsthand with a test drive. Let us put you behind the wheel today.