Thinking of selling your Honda City, or buying one that's about three years old? The big question is the same either way: how much is it actually worth now? Resale value is how much of the original price a car keeps when you sell it secondhand. The money it loses along the way is called depreciation, and for most owners it's the biggest single cost of owning a car, bigger than gas or PMS (Preventive Maintenance Service). This guide compares Honda's official 2023 prices with what 3-year-old City sedans are listed for on Philippine used-car marketplaces. It then works out the peso loss per variant and explains what pushes your car's price up or down. If you also want to know what the City costs to maintain each year, see our Honda City annual maintenance cost guide.
A well-kept 2023 Honda City sedan is usually listed at around ₱640,000–₱820,000 in 2026, which means it has kept roughly 70–78% of its ₱973,000–₱1,128,000 SRP after three years.
- A 2023 Honda City launched at ₱973,000 (E) to ₱1,128,000 (RS) SRP with Honda Sensing standard
- 3-year-old (2023) Honda City sedans are typically listed at about ₱640,000–₱820,000, with low-mileage units asking up to around ₱920,000
- That works out to roughly 70–78% of the original SRP in asking price, or about ₱220,000–₱300,000 lost to depreciation
- Asking prices are not final selling prices, and dealer trade-in offers usually come in lower than a private sale
- Complete casa PMS records, low mileage, and a clean flood and accident history are what keep a City at the top of that price range
The Short Answer: A 3-Year-Old Honda City Keeps About 70–78% of Its SRP
Based on Honda's 2023 launch prices and current used-car listings for 2023 City sedans, a well-kept 3-year-old City usually carries an asking price of about 70–78% of its original SRP (Suggested Retail Price, the official brand-new price).
In pesos, that means a City that cost about ₱1 million new has typically lost around ₱220,000–₱300,000 in three years. Spread over 36 months, that's roughly ₱6,000–₱8,300 a month in depreciation, an invisible cost that adds up as surely as your fuel bill.
Two important reminders: these are asking prices, not final sale prices. Buyers usually haggle a little off the listed price. A buy-and-sell dealer or a trade-in at a casa (an official brand dealership) will usually offer less than a private buyer, because the dealer has to recondition the car and still make a profit.
Step 1: Find Out What Your Honda City Cost When It Was New
Your starting point is the original SRP of your exact variant. The refreshed Honda City sedan launched in the Philippines on July 13, 2023, with Honda Sensing (Honda's suite of driver-assist safety features, such as collision mitigation braking and lane-keeping assist) now standard. According to Honda Cars Philippines' official launch announcement, the launch SRPs were:
- City 1.5 S CVT Honda Sensing: ₱998,000
- City 1.5 V CVT Honda Sensing: ₱1,073,000
- City 1.5 RS CVT Honda Sensing: ₱1,128,000
An entry 1.5 E CVT variant was also listed at ₱973,000. All variants use the same 1.5-liter engine and CVT (Continuously Variable Transmission, a type of automatic gearbox). Honda's current price list has shifted slightly since 2023, so always compare against the price you actually paid, which is printed on your sales invoice.
Step 2: Check What 3-Year-Old Honda City Units Are Actually Listed For
As of late 2026, 2023 Honda City sedans on Philippine used-car marketplaces such as Philkotse, AutoDeal and Zigwheels mostly fall into these ranges:
- Typical asking range: about ₱640,000–₱820,000
- Low-mileage, first-owner, casa-maintained units: some list as high as around ₱920,000
- Repossessed (bank-pulled-out) units: often priced lower, around the ₱700,000 mark, because they are sold "as is" with less maintenance history
To check your own car's value, search the marketplaces for the exact same year, variant and transmission, filter by similar mileage, and look at 10–15 listings. Ignore the very highest and lowest prices and focus on the middle. That middle range is your realistic starting point for pricing or negotiating.
Step 3: Estimate the Depreciation for Your Variant
Applying the 70–78% retention range to each 2023 variant's SRP gives these rough estimates for a well-kept unit with normal mileage:
- 1.5 E CVT (₱973,000 new): about ₱680,000–₱760,000 asking price, a loss of roughly ₱213,000–₱293,000
- 1.5 S CVT (₱998,000 new): about ₱700,000–₱780,000, a loss of roughly ₱218,000–₱298,000
- 1.5 V CVT (₱1,073,000 new): about ₱750,000–₱835,000, a loss of roughly ₱238,000–₱323,000
- 1.5 RS CVT (₱1,128,000 new): about ₱790,000–₱880,000, a loss of roughly ₱248,000–₱338,000
Notice the pattern: the more expensive the variant, the more pesos it loses, even though the percentage is similar. Extra features like the RS body kit and bigger screen add to the brand-new price, but used buyers pay only part of that premium. These are estimates built from listing data, not an official valuation, so treat them as a guide and confirm them against live listings for your exact unit.
Step 4: Know the Difference Between Private Sale, Dealer Buy-and-Sell and Casa Trade-In
Where you sell changes how much you take home:
- Private sale (you sell directly to a buyer): usually gets you the highest price, close to the middle of the listing range. In exchange, you handle the photos, inquiries, test drives, the Deed of Sale and the paperwork yourself.
- Buy-and-sell dealer: fast and convenient, often paying cash within days. Expect an offer below private-sale prices, since the dealer has to resell at a profit.
- Casa trade-in (when buying a new car): the most convenient option, because the trade-in value goes straight toward your next car's down payment. It is often the lowest offer, so get a private-sale estimate first and use it to negotiate.
A practical approach: get at least two dealer quotes, compare them with the middle of the marketplace listings, and then decide whether the convenience is worth the price difference.
Step 5: Understand the Five Things That Push Your City's Price Up or Down
- Mileage: many Filipino owners drive about 15,000–20,000 km a year, so 45,000–60,000 km is normal for a 3-year-old car. Units under 30,000 km sell at the top of the range, while units well above 60,000 km lose bargaining power.
- Casa PMS records: a complete stamped service booklet from an authorized Honda dealer shows buyers that the CVT fluid and other items were changed on schedule. This matters a lot for a CVT, because buyers fear expensive transmission repairs.
- Flood and accident history: a flooded or badly repaired car can lose a large chunk of its value. Buyers in Metro Manila routinely check for water lines, rust under the carpet and uneven panel gaps.
- Variant and color: higher variants like the RS hold buyer interest well, and common colors like white, silver and gray are easier to sell than unusual ones.
- Number of owners and financing status: "first owner, fully paid, OR/CR on hand" listings sell faster than units still under bank financing, which need extra steps to release the encumbrance (the bank's legal claim on the car).
Step 6: Check for Open Recalls Before Selling or Buying
A car with an unfinished recall repair can scare off buyers. The Honda City was part of an earlier fuel pump impeller recall that covered selected 2018–2021 units across several Honda models, with the fuel pump part replaced free of charge at dealerships. A later campaign in November 2024 added a small number of 2016–2020 City units.
We did not find a fuel pump recall covering the 2023–2024 City. Still, the safest step is to check the specific VIN (Vehicle Identification Number, the 17-character code on your OR/CR and on the car itself) using Honda Cars Philippines' recall page or with any authorized dealer. If you're the seller, show the buyer that any recall work was completed. It's a small detail that builds trust and protects your price.
Step 7: Add Up the Other Costs You Paid During Those 3 Years
Depreciation is only part of what three years of ownership costs. Using the figures from our Honda City maintenance cost guide:
- Casa PMS: Honda estimates about ₱84,885 for five years of City CVT PMS, or roughly ₱17,000 a year, so about ₱51,000 over three years.
- Comprehensive insurance: insurers in the Philippines usually charge around 1.5%–4% of the car's insured value per year. For a ₱1 million City, that's about ₱15,000–₱30,000 a year, dropping as the car's value falls. Expect roughly ₱55,000–₱75,000 over three years.
- LTO registration: a brand-new car's first registration is valid for three years, so most owners pay no renewal during this period. The first annual renewal, usually about ₱2,500–₱4,500 including emission test and CTPL (Compulsory Third-Party Liability insurance), comes due in year four. That's worth knowing if you're the buyer. You can manage renewals through the LTO LTMS portal.
Step 8: Calculate Your Total 3-Year Cost of Owning a Honda City
Here's a worked example for a City 1.5 S CVT bought at ₱998,000 in 2023 and sold in 2026, fuel and parking excluded:
- Depreciation: about ₱218,000–₱298,000
- Casa PMS (3 years): about ₱51,000
- Comprehensive insurance (3 years): about ₱55,000–₱75,000
- LTO renewal: ₱0 (covered by the 3-year first registration)
Total: roughly ₱324,000–₱424,000 over three years, or about ₱9,000–₱11,800 a month before fuel. If you financed the car, add the interest you paid to the bank on top, which can easily be another six figures on a 5-year loan.
This is why resale value matters so much: a car that keeps an extra 5% of its value saves you about ₱50,000 when you sell. For comparison with the City's biggest rival, read our Toyota Vios resale value after 3 years guide.
Step 9: Seven Ways to Get the Highest Price When You Sell
- Keep every casa PMS stamp and receipt, and have them ready to show buyers.
- Have the car detailed before taking photos. A professional interior and exterior cleaning costs far less than the price bump it can earn you.
- Fix small, cheap issues, such as a burnt bulb, worn wipers or a minor scratch, so buyers have fewer reasons to haggle.
- Prepare complete documents: the original OR/CR (Official Receipt and Certificate of Registration), a valid ID, and the bank's release of chattel mortgage if the loan is fully paid.
- Price within the middle of the market for your exact year, variant and mileage, not at the very top.
- Sell before a big mileage milestone, such as just before 60,000 km, when listings start to look "high mileage" to buyers.
- Avoid selling right after a new-model launch, when brand-new promos and discounts can pull used prices down.
Frequently Asked Questions
Most 2023 Honda City sedans are listed at around ₱640,000–₱820,000 on Philippine used-car marketplaces in 2026, with exceptional low-mileage, first-owner units asking up to about ₱920,000. The exact figure depends on variant, mileage, condition and service history. Remember these are asking prices, and the final sale price is usually a bit lower after negotiation.
Yes. Keeping about 70–78% of its SRP in asking price after three years is a solid result for a subcompact sedan. Honda's reputation for reliability, the 1.5-liter engine's fuel efficiency, and Honda Sensing being standard since the 2023 refresh all help keep buyer demand steady. Well-maintained units with casa records hold value best.
In percentage terms, the variants depreciate at similar rates. In pesos, the cheaper E and S variants lose less money because they started at a lower SRP: roughly ₱213,000–₱298,000 over three years, versus about ₱248,000–₱338,000 for the RS. The RS still attracts strong buyer interest thanks to its sportier look, so it's often easier to sell quickly.
A private sale usually gets you the highest price, because you're selling at market value without a middleman. A casa trade-in is more convenient, since the value goes straight to your next car's down payment, but the offer is often lower. Get a private-sale estimate from online listings first, then use it to negotiate the trade-in offer.
Yes, a lot. A 3-year-old City with 45,000–60,000 km is considered normal. Units under 30,000 km can sell near the top of the price range, while cars well over 60,000 km often have to be priced lower to attract buyers. Buyers also worry about CVT wear at higher mileage, which is why casa PMS records matter even more.
A brand-new car's first LTO registration is valid for three years, so a 2023 City reaches its first annual renewal around its third anniversary. If the registration is expiring or expired, renew it before selling. Buyers expect a current OR/CR, and an unregistered car can't be legally test-driven on public roads. Renewal usually costs about ₱2,500–₱4,500 in total.
Yes, selected 2018–2021 Honda City units were included in Honda Cars Philippines' fuel pump impeller recall, and a smaller group of 2016–2020 City units was added in a November 2024 campaign. The fuel pump part was replaced free at dealers. We found no fuel pump recall for the 2023–2024 City, but check the VIN with Honda to be sure.
Look for water lines or mud under the carpets and seats, rust on seat rails and under the dashboard, a musty smell, fogged headlights, and electrical glitches. Ask for casa service records and have a trusted mechanic or the casa inspect the car before you pay. Flood-damaged units should sell far below normal market prices, so never pay full price for one.
Conclusion
After three years, a well-maintained Honda City typically keeps around 70–78% of its original SRP in asking price. That puts 2023 units at roughly ₱640,000–₱820,000, a loss of about ₱220,000–₱300,000 depending on variant. Add around ₱51,000 in casa PMS and ₱55,000–₱75,000 in insurance, and three years of ownership costs roughly ₱9,000–₱12,000 a month before fuel. To land at the top of the price range, keep your casa service records complete, avoid flood and accident damage, sell before the mileage climbs past 60,000 km, and compare private offers with trade-in quotes before deciding. For your car's original specs and any open recalls, check Honda Cars Philippines' official website.
