Easterns Blog

When considering the purchase of a vehicle, one important aspect to examine is the total cost of ownership (TCO). The Honda CR-V, known for its reliability, spacious interior and solid fuel efficiency, is a popular choice among SUV enthusiasts.

However, beyond the initial purchase price, potential buyers should be aware of various factors contributing to the overall cost of owning a Honda CR-V.

Vehicle Overview and Features

The Honda CR-V is a compact SUV that offers a blend of practicality, comfort and advanced features. It typically comes equipped with a range of modern technologies, including a spacious cargo area, user-friendly infotainment system and advanced safety features like adaptive cruise control and lane-keeping assist.

 The CR-V’s reputation for reliability and strong resale value makes it a great choice for many buyers.

Initial Purchase Price

The initial purchase price of a Honda CR-V can vary significantly depending on whether you buy new or pre-owned. New models tend to be more on the expensive side but include the latest features and a full warranty.

Pre-owned vehicles have already depreciated in value, allowing you to get more car for your money. Reputable dealerships like Easterns Automotive often provide certified pre-owned options that include warranties and thorough inspections.

Depreciation

The Honda CR-V is known for holding its value relatively well compared to other compact crossover SUVs. The continued popularity of the model means that even if you buy a new CR-V, you can expect it to retain a good portion of its value over time. Opting for a pre-owned CR-V can mitigate some depreciation costs, as the previous owners have already absorbed the steepest depreciation hit.

Insurance

Newer CR-V models often have higher insurance premiums due to their higher value and the expense associated with repairing advanced technologies. However, the CR-V’s extensive safety features can help offset some of these costs.

On the other hand, pre-owned CR-Vs, especially those that are a few years old, typically have lower insurance premiums, making them an attractive option for those looking to save on insurance expenses.

Maintenance and Repair Expectations for Honda CR-V Ownership

• Reliability: The Honda CR-V is renowned for its reliability, often resulting in lower maintenance costs compared to less reliable vehicles.
• Routine Maintenance: Routine maintenance is an unavoidable expense of owning any vehicle and includes essential services like:
  
  • Oil changes
  • Tire rotations
  • Brake inspections
  • Fluid replacements
    
• Cost Variability: Specific maintenance costs can vary depending on location and service provider, but the overall expenses for a CR-V are typically reasonable.
• Aging and Repairs: As a vehicle ages, the need for repairs tends to increase. However, the CR-V’s robust build and durability help keep these repair costs manageable.
• Pre-Owned Benefits: Pre-owned CR-Vs often come with detailed service histories, allowing buyers to assess how well the vehicle has been maintained.
  

Fuel Expenses

Fuel expenses are a significant part of the TCO for any vehicle. The Honda CR-V is known for its commendable fuel efficiency, especially in the compact SUV segment. Fuel costs can vary based on driving habits, fuel prices and the vehicle’s engine type. To get an idea of current fuel expenses, consider the average price of gas today.

For example, if the average price of gasoline is $3.50 per gallon, and the CR-V averages around 30 miles per gallon, you can calculate your expected annual fuel cost based on your driving habits.

Financing

If you choose to finance your Honda CR-V, the cost of ownership will include interest payments on your auto loan. The interest rate you receive will depend on your credit score, loan term and market conditions. Financing a pre-owned CR-V may come with higher interest rates compared to new models, but the lower purchase price can offset this difference. It’s crucial to shop around for the best financing options and consider the total cost over the life of the loan.

Benefits of Buying a Pre-Owned Vehicle at Easterns Automotive

Buying a pre-owned Honda CR-V comes with several benefits. In addition to the lower initial purchase price and reduced depreciation, pre-owned vehicles can offer great value. Certified pre-owned (CPO) programs from reputable dealerships often include extended warranties, thorough inspections and vehicle history reports. These programs provide added confidence when purchasing a used vehicle.

Moreover, the variety of available pre-owned CR-Vs means you can find a model that fits your budget and preferences. Whether you’re looking for a specific trim level, color or feature set, the pre-owned market offers a wide selection.

Purchase Your Honda CR-V Today “ Where Your Job Is Your Credit”

The Honda CR-V’s reliability, fuel efficiency and strong resale value make it a practical and popular choice.

Here at Easterns Automotive in Maryland, Virginia and Washington D.C., we have the perfect pre-owned Honda CR-V just for you. Browse our inventory today or give us a call at (240) 200-5256.