Here’s How Much A 5-Year-Old Honda Accord Is Worth Today (2024)

The Honda Accord has been one of the most popular choices in the mainstream arena for decades, owing much of its popularity to its incredible price range, fuel economy, size, and occasional performance surprises. The 2020 model, introduced in 2019, perpetuated this trend for the mid-sized sedan, as it, too, offered a plethora of options and a handsome appearance at an affordable price, allowing it to stay near the helm in regard to its sales.

While each subsequent model year brought welcome changes, with the 2023 Accord entering the 11th generation, the 2020 model is still a compelling model, as it offers contemporary tech and amenities that can be bought on the used market for a bargain. Not to mention, its style - both inside and out, is of modern taste, and still holds up five years later.

2020 Honda Accord

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Used 2010s Honda Accord for SaleUżywany Honda Accord 2010 - 36 000,87 PLN, 140 610 km - Otomoto.pl

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Engine

1.5L I4 ICE

Transmission

CVT

Horsepower

192 HP @5500 RPM

Torque

192 lb.-ft. @ 1600 RPM

Driveline

Front-Wheel Drive

Fuel Economy

30/38/33 MPG

The 2020 Honda Accord Offers Effortless Utility

Receiving a generation re-design in 2018 for the 10th generation, the 2020 model year will arrive with no changes to the fresh-faced sedan. However, this wasn't a bad thing, as the ample features and contemporary flair, attitude, and options allowed it to stay in contention with others in its class, which include the Mazda 6 and Kia Stinger. The 2020 Accord is available in five trim levels:

• LX
• Sport
• EX
• EX-L
• Touring

The base model LX comes reasonably equipped with useful tech and features, including the Honda Sensing package - which is packed with driver aids, dual-zone climate control, a seven-inch touchscreen, and more. Moving up to the Sport trim adds some sporty visual flair, including bigger wheels, while upgrading the cabin convenience by adding a power-adjustable driver's seat, a larger touchscreen, Apple and Android capabilities, and a better sound system. The EX model builds off the base LX by adding a sunroof, keyless entry, heated front seats, and more advanced driver assist functions.

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The EX-L further equips the Accord with goodies, including leather upholstery, a premium sound system, and available GPS, among other features. The top-rated Touring essentially adds all available features mentioned for the lower trims, plus adaptive suspension, parking sensors, a heads-up display, GPS, Wi-Fi hotspot, a wireless charging pad, and more.

Passenger And Cargo Space Are Key Selling Points

While a well-rounded sedan, the Accord is also a favored model thanks to the room and versatility it provides buyers. The 2020 model year sat near the top of its class in terms of trunk space, which measures 16.7 cubic feet. Passengers are provided with plenty of bins and pockets to store items, with the cabin's dimensions being very forgiving, even when accounting for a large car seat. The 60/40 split-folding rear seats offer even more options for cumbersome cargo.

2020 Honda Accord Interior Dimensions

Why You Can't Go Wrong With A Used 2020 Accord

The cost of cars has gone up significantly in recent years, whether due to material shortages or good old-fashioned inflation, it has affected every pocket of the automotive market, including the otherwise “budget” market. As we've discussed, the Accord offers a slew of convenience, utility, and comfort, and while prices are rising, it still competes with the top offers in terms of bang for your buck. This sentiment is realized most notably on the used market, where good-condition examples can go for less than $20,000.

Average Annual maintenance Cost: $420 (RepairPal)

10-Year Maintenance Costs: $5,643 (CarEdge)

Recalls: 5 (Most common involves fuel pump failure)

Awards: NHTSA 5-Star Safety Rating, IIHS Top Safety Pick, #1 in 'Best Midsize Cars of 2020' (KBB)

Reliability Rating: 80/100 (J.D. Power), 4.5/5 (RepairPal)

CarEdge reports the 2020 Accord will depreciate 35 percent after five years, carrying an average resale value of $21,665 - assuming an MSRP of $33,117. This is good news for used car buyers, as the Accord's superb reliability records and high customer satisfaction rating, as reported by Consumer Reports, make it a safe buy if ever there were one. To make matters better, the annual maintenance costs and severity are below the national average, according to RepairPal.com.

Real-World Used Market Prices Reinforce Bargain Aspect

When browsing the used market for used 2020 Honda Accords, it's easy to find models well below the $15,000 mark, though with high mileage and multiple owners, it's best to keep perusing. Entering the $15,000 to $17,000 range opens you up to a well-kept base through the EX model, though the $20,000 range is where the 2020 Accord present is the best deal.

In or around the $20,000 to $25,000 range is where we find low-mileage Touring models, which are the top-rated trim with all the fixings. KBB Fair Purchase Price places the 2020 Honda Accord Touring at just under $26,500 - more than $10,000 less than its original MSRP, though a bit of used market sleuthing can uncover much lower prices.

2020 Honda Accord Values

The 2020 Accord Also Offers A Peppy Turbo Engine And A Manual Option

The standard power option is a 1.5-liter turbo Inline-four, which sends a skippy 192 horses to the front wheels via a CVT. This set-up is standard on all trim levels except the top-rated Touring models, which get Honda's juicy 2.0-liter turbo inline-4 and a traditional 10-speed auto transmission.

The turbo 2.0-liter makes 252 horsepower and 273 pound-feet of torque, and is optional for the Sport and EX-L models and standard on the Touring. A no-cost six-speed manual transmission is available for the Sport model, no matter the engine choice, meaning you can really spec the 2020 Accord to be a driver's delight.

2020 Honda Accord Specs

The Accord's Top Competition

Looking at the Accord competition reveals a very competitive class, highlighting the goldmine of solid offerings floating around the used market, which includes models not wearing the Honda badge. Among the most pressing rivals are the Toyota Camry and the Hyundai Sonata, both bargain sedans that offer ample standard features and options, well on par with the 2020 Accord's package.

The Toyota Camry is a well-known nameplate, arguably outshining the Accord in certain eras during their long, storied rivalry. Offering a brawny V-6 option and AWD, the 2020 Camry appeals to a wider market, more specifically, those who require more road capability. To add to that increased capability, Toyota's reliability rating is higher than Honda's, which includes the reliability of their sedan models.

The 2020 Hyundai Sonata earned an 83/100 from J.D. Power for its reliability and quality, a higher score than the 2020 Accord. To add to its case, the Sonata capitalizes on the 'affordable luxury' corner of mainstream cars, with a spacious, well-appointed cabin, while averaging a lower price on the used market than the Accord. That said, it doesn't exhibit the agility or responsiveness the Accord or Camry can provide, even with the top-rated 1.6-liter turbo-four equipped.