Civic X Depreciation Price?

[Froz3nTundra]

Book value never bought or sold a car. It's just a guide and condition is everything. I have sold all my Honda's a good $1000 over kbb retail excellent. My EXT only has 4800 miles so on the used market I could get 19k easy and do a pass through at my Honda dealer to save on tax and show as a trade. But I just don't see what I want yet so I'm going to either wait for an manual Hatch Sport or and Si. But 19k on a Focus St is real tempting.. lol

Didn't you say in another thread somewhere you could get a manual Hatch Sport under MSRP any time you wanted?

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[Shankmeyster]

He said he could get any car for thousands less at any time. Also if the IRS ever found out about his "pass through's" they would probably have a word with him and the dealership.

 

[josby]

If your state has no sales tax then there won't be any. Here we have 2 different payoff amounts. One if a dealer bought the lease out. The other including sales tax if you were to buy it out. The 2nd one would be the one you could sell the car at to a private party.

Ohhhh yeah, I have heard of that. Seems to vary a lot by state. In my state you don't have to pay sales tax again when you buy the car from the leasing company as long as it's going into the same person's name and is paid off either at the dealership where you leased the car, or directly through the leasing company. Like I think if you leased it under your name, but then were trying to title it under your and your wife's name when you paid it off, you'd get stuck paying sales tax again, but not if you just did the title in your name.

 

[Molatte]

Sorry to bump an old thread - but I feel like a new discussion should be put here in the light of the new Accord being revealed yesterday. I'm planning on buying a used V6 Touring 9.5 Accord next year and what do you guys estimate will be the depreciation of our Civics? Will it sink much lower than it is now or will it relatively stay the same considering the solid popularity of our Civics?

 

[syncro87]

Sorry to bump an old thread - but I feel like a new discussion should be put here in the light of the new Accord being revealed yesterday. I'm planning on buying a used V6 Touring 9.5 Accord next year and what do you guys estimate will be the depreciation of our Civics? Will it sink much lower than it is now or will it relatively stay the same considering the solid popularity of our Civics?

The best way to predict what your Civic will be worth is to look at lease residual values. Honda puts a lot of thought into their residuals, and some very intelligent people have crunched the numbers to come up with them.

Your dealer will be able to provide you with a residual based on the car, trim, miles, and duration.

Example for the sake of discussion. They'll say that a Civic EX-T has a 52% residual at 36 months based on 12k miles per year. So, 52% of MSRP.

The people putting those numbers together are not making them up. They have a lot of historical data on hand, etc, to come up with the residual. They aren't perfect but they try to be as accurate as possible. They are putting a lot of money on the line, so it is in their interest to be accurate.

Honda tends to, on the whole, not fudge their residuals to move sales. They will offer a low money factor, or cash toward the lease, but the residuals themselves are generally sound.

Anyway, I'm writing a book here. If you want the most accurate prediction of a car's future value, look at the residuals Honda gives to their finance people. It's the best educated guess that is available.

One general personal observation: sedans continue to show weakness, while SUVs and CUVs continue to be strong. Small sport utilities will likely fare better as a percentage of MSRP than sedans will, on the whole. The midsize sedan category, in particular, is relatively weak. Coupes are weak. Hatches do slightly better, but not as well as SUVs. I'd expect the overall car market to continue these trends in the near future.

 

[HondaPro]

Anything is worth what someone will pay. The Kbb and nada values can be obtained through your bank but condition is very subjective. Some people take care of there vehicles and others dont. I have found a very well cared for Honda can bring full retail. But a well driven, dinged and dirty vehicle will hardly hit 1-3k under current book. Gas pricing is sitting agressive at $2.00 a gallon and Suv sales are on the rise. Thats going to slow down the demand. But take into play the 10th gen civic hit record breaking sales and recieved many awards with tons of Honda advertising.

So whats your car worth? What someone will pay. A value is a state of mind.

 

[Notmighty]

Nope, I always buy my cars way under invoice but I turned the offer down. I may just keep my EXT until Jan-Feb and score a deal on a Si.

how do you buy them way under invoice? I'm very curious I plan on trying to trade my 6spd hatchback sport for a new Si and could use some tips, I paid NADA "invoice for my hatch and feel that was a great deal considering I bought the only one within a few hundred miles of me.

 

[HondaPro]

First advertise on Craigslist and find your buyer. Take your buyer to the Honda dealer and arrange a pass through saving tax and showing as a trade. Some dealers do pass through for free. Right now most dealers have 2-4 Si just sitting and they may not get hungry to take less than invoice until Nov to March. Always deal the last week or few days of the month. Honda has 3-6% holdback or guaranteed money kicked back to the dealership. Destination can be ate.. A deal is a state of mind. Call and work a deal Only with the new car sales manager.

Note: The Si is not so special as in the past. In some cases less performance.

how do you buy them way under invoice? I'm very curious I plan on trying to trade my 6spd hatchback sport for a new Si and could use some tips, I paid NADA "invoice for my hatch and feel that was a great deal considering I bought the only one within a few hundred miles of me.

 

[Molatte]

Just checked what my trade in-value might be. According to KBB, my Touring sedan is worth about $20k. Anyone think the sedans are going to depreciate like crazy over the next 6 months or so?

 

[zroger73]

Just checked what my trade in-value might be. According to KBB, my Touring sedan is worth about $20k. Anyone think the sedans are going to depreciate like crazy over the next 6 months or so?

That sounds about right. There's no reason to think they'll depreciate "like crazy" in the next 6 months. Most depreciation happens from the moment you drive off the lot and within the first year after which it slows down. It should still have about half its original value at 3 years old.

 

[Molatte]

Tomorrow I'm going to try to trade-in my Touring for an Accord Coupe Touring; hopefully they'll take the bait that I want at least KBB value if not I'll walk away. I'm seriously hoping that the fact I bought this car at the same dealership helps.

 

[B20GUY]

I think these values are a good expectation depending on your trim level of course:

https://www.autolist.com/prices#yea...tude=37.3541079&longitude=-121.95523559999998

13-15K.

 

[Molatte]

Just an update, I traded in my Civic Touring Sedan @ 20,088 miles for $19.8k for an Accord Touring Coupe. Mine still had the hatch grill + clear sidemarkers + Red Emblems + Type R Steering Wheel when I traded it in.

 

[Molatte]

Just an update, I traded in my Civic Touring Sedan @ 20,088 miles for $19.8k for an Accord Touring Coupe. Mine still had the hatch grill + clear sidemarkers + Red Emblems + Type R Steering Wheel when I traded it in.

 

[ClemsonPatriot]

I would also add that when you trade in you don't have to worry about the next buyer to come back to you because something was or is broken at the time of purchase and you did not tell them about it. So you might lose some money when trading it but you also buy peace of mind.

This is why whenever I have sold a car to a private party, I tell them everything I know is wrong with the car. And I type up a simple "agreement" which includes basic information of seller and buyer AND a part where they sign agreeing that they understand the car is sold "AS IS" and I am not responsible for anything that may happen even 2 seconds after the buyer drives away.

It also acts as proof its not longer mine if the buyer gets a ticket or something before I can change the title out of my name at the DMV.

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