The Wall Street Journal called me earlier this week to ask if a statement quoted in “Buyers Take the Driver’s Seat When Shopping ‘Pre-Owned’”, appearing in Terri Cullen’s, May 15, 2003, Fiscally Fit column was still valid. When columnist Terri Cullen called me last year to ask which cars best retain their value, my kneejerk response was, “Two words: Toyota and Honda.” And that’s exactly how it ended up in her article.
The good news for Toyota and Honda is that I gave the same response at the end of November 2004. Actually, this time I think I got it down to one word, “Absolutely”.
Toyota and Honda products are still the leading vehicles when it comes to maintaining value. Because they are so dependable, even high mileage does little to decrease their worth over time. Ask around and you will find that there are people in your immediate circle driving 1992 Camrys, 1995 Honda Civics — many of them with 200,000 miles or more. One friend of mine said goodbye last year to his beloved 1991 Civic with 250,000 miles on it, and, if the body had been able to keep up with the never failing, heart-of-gold engine, he would have it still.
So, yes, WSJ, Toyotas and Hondas are still the best value holders you can find.