Hello All,

I was thinking about getting a 2008 Honda Fit Sport this weekend, but just saw the posts about re-design/modeling of the 2009 version, which scared me in terms of resale value.

Simply put: how much more do you think Honda Fit will loose extra in resale value due to introduction of the new model? Any ideas about how this will affect the resale value of current models say in 2-3 years?

Thanks.

 

I don't know that anyone wil be able toi give you hard numbers, but here's something I found by Googling resale value model redesign...

from http://www.intellichoice.com/carBuyi...ngDepreciation

"Here's another factor to take into account: It's important to pay attention to where a new car or truck falls in its life cycle. Automakers often 'freshen' a vehicle at varying intervals during the years it is manufactured. The smallest changes may be nothing more than a restyled front bumper, grille and taillights. Such freshenings will have little effect on the value of a vehicle over time, or on its predecessors. However, once or twice a decade a manufacturer will completely redesign a model, totally revising its interior and exterior (sometimes improving it) while making major engineering, safety and structural changes (always improving it). In general, the first model year of that newly-redesigned vehicle will hold its value better than subsequent years, and it will hold its value much better than the previous-year, previous-generation vehicle that finds itself little more than yesterday's news. Of course, that means you'll be able to purchase that older vehicle for a bigger discount - but that won't stop its deeper depreciation."

 

If you're only buying for a year or two, it'll be a problem. However, I would guess that around the 5-6 year mark, things will be fairly level. It's a used Honda, and if you've kept it in good shape and done regular maintenance, you're always going to be able to sell it.

 

+1 I never buy a car based on resale value. I either like the car or I don't, which is how I make my decision. Thinking about resale value, while logical, is not very practical, as eventually everything gets replaced. There will always be something newer and better around the corner. Trying to time your purchases between these changes to maximize resale value is a waste of time IMO. Buy the car you like, enjoy the car you like, when you are no longer happy with it or it dies on you, done, get a new car.

 

+1, i agree....