How or why do Hondas hold their value so well?

Question

I was just browsing the autotrader site and noticed that little '90-'93 Honda Civic hatchbacks with close to 200,000 miles still sell for anywhere between $3,000 and $6,000. How and why is this? Are they THAT reliable? I mean, you can buy a used 2006 Chevy Cobalt with under 30,000 miles for well under $9,000. I've heard of Hondas lasting "forever", but are they really worth that kind of money for a 10-15 year old car with close to 200,000 miles?

Answer 1

1) honda engines are the most reliable engines you will ever find on this planet.

also 2) older model hondas and toyotas are reputed to be some of the most reliable cars ever made according to reviews here.
http://wiki.answers.com/Q/Which_car_will_last_the_longest_and_cause_the_least_hassle

Answer 2

First, watch the odometer reading on that Honda, chances are the miles on the car are actually higher than the odometer states:

http://www.hondaodometerclassaction.com/

Second, anyone willing to pay $3-$6K for a non-collectible car with 200K miles on it (even if it is a Honda) is crazy. There are a ton better values out there. Regardless of what make, a 200K mile motor is simply worn out.

Third, don't rule out the domestics when it comes to longevity. That Cobalt is a good value, and has garnered good performance and reliability ratings. Plus, there are a ton of old Chevy and Fords from the 1970s and 1980s still running strong. Compare that to how many 1970s/80s Hondas and Toyotas are out there just by going on EbayMotors and seeing what is for sale for example.

Answer 3

Cars keep their value due to good construction, good dependability, and the good opinion of buyers due to the first two.

That kind of money depends on the maintenance history and condition of the car, and whether modifications have been done (many lessen the value). A car with a perfect body isn't worth that much if the oil has never been changed, the same as a perfectly maintained engine in a pile of junk won't bring much. Let a competant and trusted mechanic take a look, and shop around to compare.

Answer 4

The reason i think these cars are over valued is that youngsters like to emulate the magazines and movies. this means that a lot of young people want a "tuner" car but cannot afford a new one so the resale on a beat up civic is artificially high. i have asked a couple of my car dealer friends this same sort of question. they laugh and tell me that they put those cars out there for double what they paid at auction and inevitably some kid will walk up and buy the thing without even trying to talk them down at all.

Answer 5

For a well-maintained Honda, Volvo or Kia 200000 miles is
nothing.

Answer 6

keep in mind they trick out those cars too, drop in new motors, etc, so thats another reason they hold their value even with that many miles.