Should you buy a Honda or Toyota over all other car options?
When you are in the market for a car, there are several factors that come into play. Price, condition, model and make are all considered. Cars are notoriously known for depreciating as soon as you get the keys in your hand and drive it off the lot.
With cars depreciating quicker and quicker every year, it’s hard to pick a car that will retain its value over time. With advanced technology getting introduced every year, older cars are often left behind in the dust. We often get blinded by newness or how many cup holders does the car have, and forget to prioritize the vehicles long-term value.
With most car companies being a publicly traded company, each financial quarter their business needs to grow. This leads to execs asking the question, “How do we maximize shareholder value?” Instead of “How do we build a car that will last an eternity?”
With the shift in focus on increasing shareholder value, the quality of cars has decreased. Instead of building the best well oiled machine in the market, they settle for cheaper manufacturing and assembly.
In other words, when the car is built cheaply, it’ll need to be replaced sooner.
This TikTok posted by @carsrme shares his opinions on car brands to avoid and why you should buy a Honda or Toyota.
So what car brands did the mechanic say to avoid?
The mechanic suggests avoiding buying the following brands below as they depreciate rapidly.
- Kia
- Hyundai
- Chevrolet
- Ford
- Dodge
Why should you buy a Toyota or Honda?
In the TikTok, the mechanic gives a few reasons why to buy these two brands. Both brands are reliable, maintain value over time, and are affordable compared to the rate of its depreciation.
Simply put, they are simple, last forever, and cheap to own.
“If you’re not into cars, why not just buy a Honda or Toyota” – @carsrme
What car brands have the best resale value?
According to KBB, Toyota is the best resale value brand. Since 2014, Toyota has earned this KBB award eight times.
Lexus was also awarded best resale value brand for luxury brands. Lexus has won the award five times and has won three consecutive years in a row.
Why is resale value so important?
Most drivers don’t realize how depreciation can be the biggest expenses incurred during the first five years of vehicle ownership. In Fact, KBB says the average 2024 car model will only retain 42% of its original value after five years of car ownership.
Let’s say you bought an average car (Kia or Hyundai) today for $30,000. After five years that car would be estimated worth $12,720.
In contrast, the top 10 KBB resale brands (Toyota or Honda) are projected to retain 58% of its original value. Using the same scenario above, a Toyota or Honda resale car of $30,000 would have an estimated worth of $17,400 after 5 years of car ownership.
Understanding a car’s resale value can save you hundreds or thousands of dollars down the road.
So what did the viewers think about these takes?
“I’m still rocking with my ‘03 Honda Element with 202k miles and I absolutely love that car!” commented one user.
“How many 20-year-old Hyundai and Kias do you see driving around? They don’t last,” a second user added.
“As a Ford guy, depreciation is my middle name. I just need at least half back and I’m good,” joked someone else.
“Everybody can’t get a Honda or Toyota. They are actually expensive. Some people have to get what they can get,” complained another.
“My Honda CR-V is 24 years old and runs like a champ” one shared.
This TikTok has more than 13.1K views with over 300 likes.
@carsrme Why would you buy a Honda or Toyota? #toyota #honda ♬ original sound – Thomas
The Daily Dot contacted @carsrme over TikTok messenger and commented on the post. We contacted Ford, Chevrolet, Hyundai, Kia, Dodge, and Honda via email. We also submitted an online request on Toyota’s media website.
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The post ‘If you buy a Kia or Hyundai…’: Expert shows the real reason you should buy Honda or Toyota when you’re in the market for a car appeared first on The Daily Dot.