To those that sold their Si

[alexrawdriguez]

Out of curiosity did you break even or did you owe? Also where did you sell it to carmax or back to Honda?

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[amirza786]

Out of curiosity did you break even or did you owe? Also where did you sell it to carmax or back to Honda?

If you trade in your car to a dealer, you never, ever break even. Not only will the dealer add in appreciation, but they buy back the car at the lower end of any price books such as Kelly Blue book etc. Some people will tell you the difference was $1000 or $3500, or some number like that, but most people are not taking into consideration their down payment, nor the interest, license and tax they paid, which could add up to thousands. There is no investment worse than a car, which in most cases (with exceptions) loses thousands of dollars just driving it off the lot.

Wealthy people who change cars every few years on the other hand, mostly lease and write the lease off to either businesses they own or an LLC they have registered. My department reports to our companies CEO's son, who is on his second Tesla S in 4 years, but because the lease is a write off, someone like him is actually getting a tax benefit driving a $120K car! But that is the exception to the rule.

So basically going from one new car to another is a financial lose lose situation, and is one of the silliest things you can do with your money. When I buy a car, it's usually to keep it until it dies. My last car, which was a 2006 Toyota Camry SE, I drove for 12 years and 140K and only moved on to another car because my daughter needed a car to commute to college, so unless I total this car, I will drive it hundreds of thousands of miles until my mechanic tells me he can't do anything with it

 

[nothome17]

In general, 3rd year is usually when you can break even. Interest/miles and other factors varies as well.

 

[SkyeSI]

I would imagine people who sold thier SI are no longer frequenting this forum to answer your question.

I think you would get the best price if you sell it as a private seller. It will take time, effort and a little luck. But that's your best bet if you're not in a hurry. List it at nearly top of KBB and hope for the best, be flexible with the price and you could make out okay.

 

[amirza786]

In general, 3rd year is usually when you can break even. Interest/miles and other factors varies as well.

If you actually put the numbers to paper, add up what you owe on the car (unless you are one of those who took a 36 month loan or paid your car off faster), you will see that you never break even, unless maybe you sold to a private party at a high price. Trading in a relatively new car (and 3 years is relatively new) for a new car will always put you in a hole

 

[alexrawdriguez]

If you trade in your car to a dealer, you never, ever break even. Not only will the dealer add in appreciation, but they buy back the car at the lower end of any price books such as Kelly Blue book etc. Some people will tell you the difference was $1000 or $3500, or some number like that, but most people are not taking into consideration their down payment, nor the interest, license and tax they paid, which could add up to thousands. There is no investment worse than a car, which in most cases (with exceptions) loses thousands of dollars just driving it off the lot.

Wealthy people who change cars every few years on the other hand, mostly lease and write the lease off to either businesses they own or an LLC they have registered. My department reports to our companies CEO's son, who is on his second Tesla S in 4 years, but because the lease is a write off, someone like him is actually getting a tax benefit driving a $120K car! But that is the exception to the rule.

So basically going from one new car to another is a financial lose lose situation, and is one of the silliest things you can do with your money. When I buy a car, it's usually to keep it until it dies. My last car, which was a 2006 Toyota Camry SE, I drove for 12 years and 140K and only moved on to another car because my daughter needed a car to commute to college, so unless I total this car, I will drive it hundreds of thousands of miles until my mechanic tells me he can't do anything with it

I have heard differently on the Facebook groups and owners of previous gen Si that keep the miles very low. I have only 6k Miles and I am almost at a year of ownership but I definitely agree with you on the sense that a car is a bad investment because of how much you instantly lose just when you drive off the lot and also jumping to another car is also another very bad move financially, with that said I do think if you do keep the miles low on a car that normally holds its value decently it should not be too bad but like another person posted it would be better around the 3 year of ownership mark.

This is my first financed car, I have driven older cars bought cash my entire life but have been known to get bored of cars quickly so maybe a new car was not the smartest option or maybe the Si was just not the smartest option (FOR ME). I love the Si its great for what it is a entry level sporty car its a great bang for the buck good on gas BUT (I know I may get flamed for the car I am about to mention) I am starting to wish I went with a Mustang GT, the performance out the box and the potential those cars have are really good and RWD. I am tempted to make a very poor financial decision on switching platforms, again nothing against the 10th gen Si its great for what it is but I find myself just wanting more. A part of me is thinking of turning the Si in if the loss is not that huge getting a cheap daily and financing an S2000 yes I am crazy and would finance an older car the S2k is one of my favorite cars and the car has potential that is on another level those motors are bullet proof and again RWD or going for a 18-19 Mustang GT.

In the end I may just stay with my Si again I love the car nothing against it but the itch for more has started.

 

[amirza786]

I have heard differently on the Facebook groups and owners of previous gen Si that keep the miles very low. I have only 6k Miles and I am almost at a year of ownership but I definitely agree with you on the sense that a car is a bad investment because of how much you instantly lose just when you drive off the lot and also jumping to another car is also another very bad move financially, with that said I do think if you do keep the miles low on a car that normally holds its value decently it should not be too bad but like another person posted it would be better around the 3 year of ownership mark.

This is my first financed car, I have driven older cars bought cash my entire life but have been known to get bored of cars quickly so maybe a new car was not the smartest option or maybe the Si was just not the smartest option (FOR ME). I love the Si its great for what it is a entry level sporty car its a great bang for the buck good on gas BUT (I know I may get flamed for the car I am about to mention) I am starting to wish I went with a Mustang GT, the performance out the box and the potential those cars have are really good and RWD. I am tempted to make a very poor financial decision on switching platforms, again nothing against the 10th gen Si its great for what it is but I find myself just wanting more. A part of me is thinking of turning the Si in if the loss is not that huge getting a cheap daily and financing an S2000 yes I am crazy and would finance an older car the S2k is one of my favorite cars and the car has potential that is on another level those motors are bullet proof and again RWD or going for a 18-19 Mustang GT.

In the end I may just stay with my Si again I love the car nothing against it but the itch for more has started.

I'm not going to flame you, promise, but my co-worker has a 2016 Mustang GT and it has been in the shop several times already for various issues. I'm not going to say it's not a fast car...It's fast. I drove the V6 version as a rental for a week, it feels really heavy, is cramped inside, and virtually has no back seat (you can fit two dolls if you want in the backseat!). You can actually see the gas gage go down as you drive. It's not a car I would ever own as a daily driver, but that is just me.

As far as what people are saying on Facebook groups, I would take that with a grain of salt. People are not going to admit that they are on the losing end of something, especially if it's a bad financial decision. Lastly, the grass is always greener on the other side.

But hey, if it's something you want to do, my words here are probably not going to stop you. Like I say to my kids, I can only give you advice, I can't make you follow it

 

[alexrawdriguez]

I'm not going to flame you, promise, but my co-worker has a 2016 Mustang GT and it has been in the shop several times already for various issues. I'm not going to say it's not a fast car...It's fast. I drove the V6 version as a rental for a week, it feels really heavy, is cramped inside, and virtually has no back seat (you can fit two dolls if you want in the backseat!). You can actually see the gas gage go down as you drive. It's not a car I would ever own as a daily driver, but that is just me.

As far as what people are saying on Facebook groups, I would take that with a grain of salt. People are not going to admit that they are on the losing end of something, especially if it's a bad financial decision. Lastly, the grass is always greener on the other side.

But hey, if it's something you want to do, my words here are probably not going to stop you. Like I say to my kids, I can only give you advice, I can't make you follow it

I appreciate your input and like I said above I change my mind very often hell I may just end up doing mods and getting rid of any urge I have to switch platforms lol.

 

[amirza786]

I appreciate your input and like I said above I change my mind very often hell I may just end up doing mods and getting rid of any urge I have to switch platforms lol.

Buying new stuff is kind of like taking heroin (I'm quoting someone on this forum, can't remember who), it wears off and you need another fix. But if you think logically about it, it does not make financial sense. The itch will go away if you ignore it, but like heroine, you have to wait it out. I hope that made sense! Doing new stuff to your existing car will definitely help you and keep it exciting, and is cheaper than a new car, that is unless you go overboard

 

[charleswrivers]

I did trade a 3 year old '15 Si for this one. I got the middle of KBB good condition trade, which was also a couple thousand more than I owed. I did the numbers at the time and it appeared I did better than most folks who do no money down leases. It also helped I got a decent price on both the '15 and '18 when each were bought.

But did I lose money? Sure. Anytime you spend money on something that isn't really necessary, that's a loss in my book. I didn't need the new Civic. My wife and I wanted it and we're bored with the '15.

The '15 would probably be paid off by now. As it is, I now how 3 more years to pay for this one. Buying any new car us generally a poor move. Better to buy a car 3-5 years old that's just broke in for 1/2 it's new value (or less). Repairs are usually still pretty minimal and the big depreciation hit has already occurred. That's actually usually what I do. It's how I got a 2 year old Tiburon for 1/2 new price in '07, a 12 year Caddy for 1/8 new cost in'12... the 7 year old RSX for 1/3 new cost in '09 and the Z's for anywhere between 1/10-1/6 their new price. It let me have them a few years, enjoy them, and let them go for a good portion of what I paid on everyone I did a private party sale on. I actually traded the Tiburon 6 months after buying it for what I paid, minus the tax. 2 Z's I got all my money out of and had them for years.

Owning expensive new cars and trading often is more of a rich man's game... or a poorer man's game who puts a lot of importance in driving a new car all the time and is willing to dedicate a decent piece of their income continuously to it.

 

[alexrawdriguez]

I did trade a 3 year old '15 Si for this one. I got the middle of KBB good condition trade, which was also a couple thousand more than I owed. I did the numbers at the time and it appeared I did better than most folks who do no money down leases. It also helped I got a decent price on both the '15 and '18 when each were bought.

But did I lose money? Sure. Anytime you spend money on something that isn't really necessary, that's a loss in my book. I didn't need the new Civic. My wife and I wanted it and we're bored with the '15.

The '15 would probably be paid off by now. As it is, I now how 3 more years to pay for this one. Buying any new car us generally a poor move. Better to buy a car 3-5 years old that's just broke in for 1/2 it's new value (or less). Repairs are usually still pretty minimal and the big depreciation hit has already occurred. That's actually usually what I do. It's how I got a 2 year old Tiburon for 1/2 new price in '07, a 12 year Caddy for 1/8 new cost in'12... the 7 year old RSX for 1/3 new cost in '09 and the Z's for anywhere between 1/10-1/6 their new price. It let me have them a few years, enjoy them, and let them go for a good portion of what I paid on everyone I did a private party sale on. I actually traded the Tiburon 6 months after buying it for what I paid, minus the tax. 2 Z's I got all my money out of and had them for years.

Owning expensive new cars and trading often is more of a rich man's game... or a poorer man's game who puts a lot of importance in driving a new car all the time and is willing to dedicate a decent piece of their income continuously to it.

How are you liking the 10th gen Si compared to your 15 Si?

 

[amirza786]

I did trade a 3 year old '15 Si for this one. I got the middle of KBB good condition trade, which was also a couple thousand more than I owed. I did the numbers at the time and it appeared I did better than most folks who do no money down leases. It also helped I got a decent price on both the '15 and '18 when each were bought.

But did I lose money? Sure. Anytime you spend money on something that isn't really necessary, that's a loss in my book. I didn't need the new Civic. My wife and I wanted it and we're bored with the '15.

The '15 would probably be paid off by now. As it is, I now how 3 more years to pay for this one. Buying any new car us generally a poor move. Better to buy a car 3-5 years old that's just broke in for 1/2 it's new value (or less). Repairs are usually still pretty minimal and the big depreciation hit has already occurred. That's actually usually what I do. It's how I got a 2 year old Tiburon for 1/2 new price in '07, a 12 year Caddy for 1/8 new cost in'12... the 7 year old RSX for 1/3 new cost in '09 and the Z's for anywhere between 1/10-1/6 their new price. It let me have them a few years, enjoy them, and let them go for a good portion of what I paid on everyone I did a private party sale on. I actually traded the Tiburon 6 months after buying it for what I paid, minus the tax. 2 Z's I got all my money out of and had them for years.

Owning expensive new cars and trading often is more of a rich man's game... or a poorer man's game who puts a lot of importance in driving a new car all the time and is willing to dedicate a decent piece of their income continuously to it.

My last 3 Toyotas I bought new because fricken Toyotas are almost the same price used. For example, We had a 2004 Toyota Sienna. In 2013 my wife totaled it, I was going to buy a used one, I was looking at 2009 or 2010 models with 50K or less, and they were almost the same price as new! I saw several 2010's that were around $23K, I ended buying the 2013 for $27, so for $4K more I bought it new. Before I bought the Si I was looking at buying a used Lexus IS 350, the cheapest one I could find was a 2014 with 70K on it for $30K. Anyway, all of my cars I keep them until they either die or are totaled by my wife

 

[NoHonor937]

If you trade in your car to a dealer, you never, ever break even. Not only will the dealer add in appreciation, but they buy back the car at the lower end of any price books such as Kelly Blue book etc. Some people will tell you the difference was $1000 or $3500, or some number like that, but most people are not taking into consideration their down payment, nor the interest, license and tax they paid, which could add up to thousands. There is no investment worse than a car, which in most cases (with exceptions) loses thousands of dollars just driving it off the lot.

Wealthy people who change cars every few years on the other hand, mostly lease and write the lease off to either businesses they own or an LLC they have registered. My department reports to our companies CEO's son, who is on his second Tesla S in 4 years, but because the lease is a write off, someone like him is actually getting a tax benefit driving a $120K car! But that is the exception to the rule.

So basically going from one new car to another is a financial lose lose situation, and is one of the silliest things you can do with your money. When I buy a car, it's usually to keep it until it dies. My last car, which was a 2006 Toyota Camry SE, I drove for 12 years and 140K and only moved on to another car because my daughter needed a car to commute to college, so unless I total this car, I will drive it hundreds of thousands of miles until my mechanic tells me he can't do anything with it

This was beautiful and thoughtfully written! Bravo!

 

[charleswrivers]

How are you liking the 10th gen Si compared to your 15 Si?

Well, I was thinking of dropping something like $4k I think it was going to be to supercharge the '15 to make probably near 300 whp.

I test drove the '18 and decided a few things. The Informat system we have which people give hell looks the same as the 9th gen, but the 9th gen never got Apple Car play or Android Auto. It's gotten zero support from Honda. The seats are much more comfortable. There's slightly more room in the rear. I get about 5 more MPG per tank on the 10th gen. The tank on the 9th gens are a little larger actually and it was hard to crack 300 miles before the low fuel light. I can easily make it to the mid-300s on this one. The new car handles substantially better and is a little quieter. Even comparing the 9th gen vs 10th both on OEM summers, the 10th gen outperforms it. When they're both on all seasons it's pretty even. Both cars have almost identical sucky stock audio. The 10th gen being turbocharged from the factory could make more power for cheap and tend to Dyno closer to their 205 whp rating compared to the 9th gens (they only made about 165-170). With $1000 dollars I could have done a catted downpipe and tune and barely touch 200 whp. 1/2 the money on these gets 237 whp on a TSP stage 1. Now NA vs turbo power curves are a preference thing, but having had 4 other turbo cars, I was happy to make the jump.

There's a lot of things... but these were the big things. The 9th gen felt cheaper and felt like a performance dead end. This one, after 1.5 years does not. I'm not bored with it at all... and I was already looking at other cars at that point on my '15.

In this case, money did buy happiness. I just wasn't that happy with the '15. It never grew on me like I thought it would as I was looking for a car similar to the old RSX type S.

 

[charleswrivers]

or are totaled by my wife

Yeah I've been there before.

It just kind of depends. Toyotas are very good cars and do hold their value well. It takes more time for them to steeply drop. I kind of dont plan to get another car for a long time.

Buying old stuff was the only way I could afford to change cars every 2-3 years and it not be a burden. Even with 2 newer cars... the average age of them all is 12+. I've always kind of liked the sub-$10k stuff... and have a aversion to spending more than $25k on any new car... which is getting to be not-much nowadays. I just don't feel like cars are worth as much money as what dealers sell them for. I don't have any no-warranty anxiety and 10 year old cars have a lot of unfortunate siblings in junkyards to mine cheap parts off of, if need be. It's things like that 25 year old Z that become a bit of a problem... as the junkers are mostly gone.

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