Honda Motors came up with the Amaze in 2013, a compact sedan with spacious and practical interiors, one that delivered both quality and performance. It was the first Honda to get a diesel engine and immediately became a bestseller for the company. We are now in the Amaze’s second generation, launched in 2018, with a facelift in 2021. Honda manages a respectable 4500-5000 units per month which is second only to the Dzire in its segment. The quantity and quality of the Amaze in the public domain have ensured that the resale value of the vehicle remains high. The Amaze comes with both diesel and petrol engines. The diesel with the CVT combination is hard to beat while the petrol CVT is no slouch either. These technologically advanced engines have extended lifespans and a dependability you can take to the bank which translate into hasslefree ownership.
Factors Affecting Honda Amaze’s Resale Value
Condition
The typical second hand car buyer is always worried that he will have to spend big on repairs because the car has not been maintained. Service records, battery maintenance, lack of scratches and dents, timely overhauling and greasing of moving parts contribute to your Amaze’s resale value. The Honda brand was always known for the refined quality of their engines and the immaculate sedans they turned out like the Honda City. The Amaze built on that name for reliability, durability and dependability delivering a vehicle that holds onto its resale value even deep into its life cycle. This ensures that you will get a good price for your car since it is seen as a VFM proposition. If your Amaze is still covered by Honda Motors comprehensive warranty plans you will be also able to command a higher price for it.
Odometer Reading
The lifespan of engines has increased significantly due to advancements in material quality and composition. But as a general rule, a car with more miles on the odometer will fetch you a lower price than one that’s done fewer miles. However, Honda’s reputation for reliability reduces the impact of high miles on the odometer. An Amaze with low running will always be preferred and will command a higher resale value, but if your Amaze has accumulated a lot of miles and has been well maintained, you will be able to find a buyer willing to pay good money for it. You might be advised by a mechanic or a broker to tamper with the odometer so that you would get a better price for your car. Don’t be taken in by this since odometer tampering, if detected, would forever ruin the resale value of your car.
Number of Owners
The number of owners is often an indicator of how the vehicle was treated over the years. Prospective customers view this as a red flag because the commonly held viewpoint (mainly correct) is that a vehicle with multiple owners must have been treated roughly at some point or through most of its life. A car with a single owner means that it has been driven and maintained well by a person or two who have left their stamp on the car in terms of their driving abilities.Your Amaze can fetch a good price if its been used by a maximum of two buyers during the first five years.
Model Popularity
In the second hand market, the top model variants of the Amaze tend to sell quicker than the base variants, and would also be priced higher. The Honda Amaze comes with a CVT transmission which is so refined and butter smooth that it would not be out of place in a segment or two higher. It provides a refined ride which makes it a very good option for people wanting the automatic experience on a budget. They could upgrade to an excellent automatic at a far lower price point than provided by other car manufacturers. The diesels, CVTs and top model variants command a slightly higher premium than the other variants.
Age
The value of a car drops as soon as it is driven out of the showroom. Each succeeding year, its value drops further with depreciation. As a rule of thumb, cars may lose 40% of their value in 5 years and almost 90% in ten. The Honda Amaze is one car which commands a high resale value in the market, because of the dependability of its build quality and engines allied with low maintenance. Age plays less of a role on the resale value of an Amaze as a well-maintained old Amaze can still fetch more than 50% of its value. The old Honda Amaze came with segment-first features like electrically adjustable and retractable rear view mirrors. It also had a heat absorbing front windshield which kept the cabin temperature lower than others.The New Honda Amaze offers features such as projector headlamps, cruise control and even paddle shifters which are again from a segment or two higher. In the second hand market, this future proofed its ability to remain relevant when other cars look more dated.
Accidental Status
It all depends on the severity of the accident. For example, you might have had to replace the front axle and transmission after an accident or you might simply have had to replace the front bumper. If the buyer can spot the repairs your car has undertaken they will definitely look to offer you a lesser price than what you may have in mind. Since authorised service centres can fix even major damages with company approved spares and are able to restore the car efficiently, it makes sense to be upfront with the buyer and quote a realistic price based on the severity of the accident.
Powertrain, Transmission and Colour
While the Amaze was first launched with the torque converter automatic, the facelift in 2016 has seen a shift to the CVT in keeping with the wider Honda vision. The same petrol 1.2L engine and 1.5L diesel engine has been used since its inception with the Honda engineers making tweaks and adjustments whenever required to keep up with the emission norms and maintain fuel efficiency. The diesel Amaze and the Amaze CVTs are models of choice in the secondhand market, getting the best resale value.
White and silver remain popular preferred colours for the Amaze but the other colours also manage to get buyers easily. A small negligible premium may be demanded for those colours.
Expected Resale Value of Honda Amaze
We would expect your car to fetch a resale price of 3.5 lakh to nearly 10 lakh depending on the model and variant on offer. The kilometres run, the maintenance, insurance, age, condition among other factors detailed above will also enter into the equation.
Model Year | Fuel Type | Expected Resale Value |
2013-2016 (1st Generation) | Petrol manual/Automatic | 3.5 - 5.20 Lakh |
2013-2016 (1st Generation) | Diesel manual/ Automatic | 3.85 - 5.5 Lakh |
2018- current (2nd Generation) | Petrol manual/ Automatic | 7.5 - 9.5 Lakh |
2018- current (2ndGeneration) | Diesel manual/ Automatic | 7.70 - 9.8 Lakh |
Best Time to sell your Honda Amaze
You would be best advised to sell your vehicle before the five year mark is breached because that is the time when the car’s value depreciates steeply. Your Amaze could lose up to 50% of its value once it crosses this threshold. It is also easier for your Amaze’s prospective buyer to get the car financed, if so required. We would recommend you to start looking for buyers once your car crosses 4.5 years if you have decided to sell.
Summary
Prospective customers look for vehicles with a proven pedigree for reliability and dependability. The well built and fuel efficient Honda Amaze ticks all the right boxes for them. The future proof features and contemporary styling are a great bonus as well. You can be sure that your pre worshipped car will have no trouble finding a new home should you decide to put it on the market.
