When shopping for the right midsize sedan, it’s important to do all of your research, and one of the most valuable stats about a new car like the 2016 Chevy Malibu is its residual value. After all, a car is a big investment, and you need to make sure that you’re investing your money wisely. Let’s see how the Malibu compares to a competitor like the 2016 Honda Accord Coupe.
But first, maybe we should go over what “residual value” even is and why it matters.
Defining Residual Value
The residual value of a car is just what it sounds like—the value that is left over after a certain amount of time. Residual values are usually expressed as a percentage of that initial purchase price to really put things in perspective, but you might be wondering how knowing a residual value can help you make a smart choice when buying a new car.
Groups like ALG and Kelley Blue Book use their knowledge of the auto world and the features and specs of a vehicle to estimate what its residual value will be in the future. While they are just estimates, they say a lot about how two vehicles compare on features and value.
How Does the Malibu Fare?
Features, fuel economy, power, and overall price are big factors in determining the residual value of a vehicle, so when you look at the residual value, you can get an idea of how the important features of a vehicle might compare.
- The 2016 Chevy Malibu ALG residual value comes in at 39% at 36 months and drops to 27% at 60 months.
- The 2016 Honda Accord Coupe LX-S with CVT has an ALG residual value of 54% at 36 months and 40% at 60 months.
If you’re looking for a car that holds its value, ALG predicts that the Accord will do a better job of it at 60 months than the Malibu does at 36 months.
Test Drive an Accord
The old story of a car losing half its value when it’s driven off the lot is pretty far from the truth, but a car does depreciate the second you drive it home. Pick a car that holds its value well; let us show you the 2016 Honda Accord Coupe at a Capital Region Honda Dealer near you.
Capital Region Honda Dealers includes Lia Honda, Keeler Honda, Mohawk Honda, Carbone Honda of Bennington, D’Ella Honda of Glens Falls, Rensselaer Honda, Bedard Bros. Honda, and Saratoga Honda.