The 2016 Kia Rio residual value estimates should be a priority for any Albany area driver considering this small car—after all, you want to make sure you are making a good investment for a purchase as high as a car, right? We compare the Rio to one of its top competitors—the 2016 Honda Fit—to help you find out which of these hatchbacks is the right car for you.
Comparing the Numbers
If you aren’t quite sure what residual value is or why it matters, we’ll get to it in just a second. First, we want to put these numbers side-by-side so that you can see which of these models has the superior value, according to ALG:
- The 2016 Kia Rio ALG residual value ratings start at 45% at 36 months and drop all the way down to 31% at 60 months.
- The 2016 Honda Fit LX CVT has an ALG estimated residual value of 57% at 36 months and 43% at 60 months.
What Does Residual Value Mean?
It’s clear that the 2016 Kia Rio residual value numbers are much lower than those of the Honda Fit, but what does that even mean? The residual value is the value of the vehicle after a certain period of ownership, expressed as a percentage of its initial price. Organizations like ALG look at specs, stats, and the auto market to generate estimated residual values that can be used by new-car shoppers to find a good investment.
In the case of these models, if the ALG estimates hold true, it would mean that:
- at 36 months the Fit’s value has dropped by 43% while the Rio has dropped by 55%.
- at 60 months, the Fit’s value dropped by 57% while the Rio lose 69% of its owner’s initial investment.
These are just estimates, but we want to point out that residual value is about more than just selling your car. The things that lead to a high residual value—dependability, high fuel economy, advanced features—often point to a more advanced vehicle to begin with.
Test Drive a Fit
It’s important to do all of the research and the comparing of facts and figures when it comes to your new car purchase, but nothing is more important than getting behind the wheel. Visit a Capital Region Honda Dealer near you today to take a test drive of the 2016 Honda Fit and see it for yourself from the best seat in the house: the driver’s.
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.