What the hell is up with 2007-2011 Civic SI resale values?

[maxtdi]

http://sfbay.craigslist.org/eby/cto/3056078398.html
09, 20k

http://sfbay.craigslist.org/pen/ctd/3046062796.html
08, 19k

http://sfbay.craigslist.org/pen/ctd/3038313188.html
08 22k (that's at MSRP)

:yikes:

That's just insane... these cars are 4-5 years old now and sell for 90% of original MSRP. They don't great good mpg and are plagued with transmission issues...

What am I missing?

 

[grambles423]

Used Honda's are hot commodities right now

 

[maxtdi]

Used Honda's are hot commodities right now

A new one can be had for 22-23k. I just fail to see the logic of someone picking up a used one that has most likely been abused.

I just don't understand...

 

[grambles423]

A new one can be had for 22-23k. I just fail to see the logic of someone picking up a used one that has most likely been abused.

I just don't understand...

People dont like the new ones. Plain and simple. Its a very very weird society we live in.

 

[Gunkata]

Used Honda's are hot commodities right now

this^

you can buy a slightly (1-4yrs old) used honda, put 30-40K miles on it and probably sell it close to what you paid for it 3+ years later.

 

[HardCandy]

Used car market is f'ed up if your looking to save money, better off buying new, take advantage of the incentives/ rebates and better finance rates.

 

[maxtdi]

Last month Honda sales were up 50% and toyota sales were up 94%... I guess that whole Tsunami thing really did a # on the honda supplies.

 

[HardCandy]

this^

you can buy a slightly (1-4yrs old) used honda, put 30-40K miles on it and probably sell it close to what you paid for it 3+ years later.

My 2010 civic resold for more money than i paid new, was an lx, i bought it for 15300 new, put ten k on it dealer sold it for like 16900.. go figure

 

[maxtdi]

My 2010 civic resold for more money than i paid new, was an lx, i bought it for 15300 new, put ten k on it dealer sold it for like 16900.. go figure

I was in the same boat when buying my TDI. Used ones sold for more than my new one... I paid 22,500 for mine and used ones listed at 23-25k. :laugh: It was a simple decision at that point.

 

[grambles423]

Last month Honda sales were up 50% and toyota sales were up 94%... I guess that whole Tsunami thing really did a # on the honda supplies.

VERY much so. Having looked at our sales graph...it was abyssmal last year when the shit hit the fan.

 

[mk6medic]

My wife had an 07 Civic, we half sold it to her little sister, who has abused the absolute shot out of it, and it's still worth way more that I would expect. I made a good decision in keeping part ownership. One of my rare good decisions.

 

[C4L]

Last month Honda sales were up 50% and toyota sales were up 94%... I guess that whole Tsunami thing really did a # on the honda supplies.

And sales figures from last year.

Keep in mind that 50% and 94% are compared to their DOWN 20-30% numbers from last year. Really its only up about half those figures taking into account the natural disasters from last year. For example;

2010 - 100k units
2011 - 80k units - down 20%
2012 - 120k units - up 50%

Really only up 10%/year since 2010 (pre natural disasters).

Hypothetical figures of course but you get the concept.:thumbsup:

 

[C4L]

None of it makes any sense but no one said Honda owners were the brightest, they did buy a Honda after all (this sentiment would not be true 10 years ago so don't freak out on me).

 

[danielj1]

They're really low mileage so of course the asking price will be higher. And remember, there is a difference between asking price and selling price. VW asked 31,250 for my GTI but they sold it too me for much less than that.

Also, I don't think CL ads are a good way to estimate a cars value.

 

[maxtdi]

They're really low mileage so of course the asking price will be higher. And remember, there is a difference between asking price and selling price. VW asked 31,250 for my GTI but they sold it too me for much less than that.

Also, I don't think CL ads are a good way to estimate a cars value.

Well the last 5 cars I bought were through craigslist. Low mileage or not those figures are outrageously high. It made a lot of sense to buy those civics back then... Drive for 3-5 years and sell for almost the same amount.

I just checked ebay and a lot of the 08-09 civics are all 18-20k for BIN.