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How Much Does it Really Cost to Own a Honda?

Monday, August 31 2015 2:21 PM
By 360 Administrator
How Much Does it Really Cost to Own a Honda?

Buying a new Honda may be more affordable than you think, especially when you consider that owning a car involves more than just the monthly payments:

At the very least, you have to keep a vehicle maintained, insured, tagged and filled with fuel. You could also have to deal with costly repairs that take money out of your pocket. Then, when you sell or trade your vehicle, depreciation could eat away at the return you could get on your investment.

Find the best value

To truly know whether you’re getting a great deal on your next new car purchase, consider the total cost of owning and maintaining the vehicle over five years. Honda makes vehicles with great fuel economy, reliable performance and high resale value. When you consider all these factors, the long-term cost of owning a Honda could be lower than you think. Edmunds.com calls this the True Cost to Own® (TCO). They’ve created a calculator that lets you compare the 5-year estimated cost of buying and owning a Honda compared to other makes and models.

Edmunds.com cost comparison tool

The Edmunds.com True Cost to Own® calculator is easy to use: Just choose the Honda model you’re interested in, and get a list of vehicles in its class, all with their TCO® clearly identified. Try it for yourself, and see how your favorite Honda model stacks up against the competition.