selling your used si

[fishboy]

have you guys had any luck selling your eps? how much did you get? how much do you think a bone stock 2002 ep with 36k get you think? i am really thinking about selling my car and getting another one. i am getting raped since i bought this car when it first came out. i am willing to take the hit because i can't justify paying all this money for a civic. give me advice, console me.:( :D

[SmoothOperator]

I'm in the same boat as you. Getting RAPED on my monthly payments. But, I'm still keeping my EP. You'll just lose more in the end if you break your lease/financing.

[fishboy]

yeah i am willing to take that hit by breaking the lease because i just can't justify spending that much for a civic. i'd much rather have a wrx or an a4 for the money than this car. i hate to think that after everything is all paid for i'd just have the si to show for it. hopefully if all goes well, after selling all my parts, i won't take too huge of a hit and my payments will be the same, but for a wrx or something.

[IceD out N CALI]

how much do you owe on the si fishboy? are you leasin it?

[fishboy]

i am leasing it and am in the process of breaking that lease. i owe 18k on it still.:eek: so financing the rest comes out to about 21k after 5 more years. so fuck that. hopefully i can sell my car for like 13 or 14k, sell my parts out for like 1500 then take the hit. i'd take the cash from selling the car and the parts and pay part of the loan i got to buy out the car. i'd still owe like 3500 or so which i'd start to pay off right away. i am hoping to pay off this loan in a year so they don't get too much money from me. fuck i hate the deal i got with this car.

[bobdobbs]

Wait a sec. You owe $18K on your lease? :eek: What are your payments and how many do you have left???

[Impact23]

there must be one lucky saleperson somewhere..... sorry to hear about your misfortune. Try trading it in for another Honda/Acura and they may eat your trade value lossed and slap some back on the new lease/ payment. its worth a try seeing your so far upside down.

[IceD out N CALI]

i'm no dealer but i'm guessin they'd give ya bout 12k based on what i've seen. of course there is no way of really k nowing until u go get it appraised. How much are you willing to put down? if you want to come up wiht about 3k i'm sure they'd be able to work another deal with another car but it would be easier if you would be willing to get into another lease cuz its easier to bury that way. either way you'd be taking a big hit-u willing to do that?

[fishboy]

18k is what i need to pay honda to buyout the lease. see i'm getting fucked. i always avoided those threads where people where talking about getting their si for like 17.5 and leasing their car for 200 a month. you'd think having my car for a year and a half i would have gotten over it, but i haven't. so i'm selling my car. i'd rather have something else to show for all the money i've spent. i hate being a sucker.:)

[IceD out N CALI]

its okay sucka, j/k. no, but for real, u can do it, but just gonna have to put a big chunk of change down. like prob at least 3k

[fishboy]

how does trading in a leased car work? will they absorb all that negative equity (if that is the right way of explaning it) if i buy a new car from them. no more leasing for me. and dude i bet that salesman is still stoked on that number he pulled on me.:D

[bobdobbs]

Please, answer my question: How many payments do you have left and how much are your payments? We can't give you any specific advice until you tell us that.

[IceD out N CALI]

you can buy it. works like this: say you are upside down 4k. u put 2k down then u still have 2k upside down. that means they gotta bury that 2k. the financing bank will usually only pay so much for a car so they can reduce the price of the car to help u out, and also add on stuff like "extended warranty" for 1k lets say, so the bank thinks its paying for ext. warranty but really helping unbury some of the negative equity. basically like that

[bobdobbs]

Originally posted by IceD out N CALI
you can buy it.

Buying that car is not a good solution, for a bunch of reasons. He's (probably) better off rolling his remaining lease payments into the purchase of a new Si, since you can pick them up so cheap these days. This all depends on HOW MUCH HE OWES ON THE LEASE! Fishboy, how much?

[edit: I just re-read your post and I see you're talking about buying a new car.]

[IceD out N CALI]

yup i meant a new car;) not the ep. think he wants to get out of it

[fishboy]

yeah fuck cush honda. those guys were trying to rape me again. they won't finance the remainder unless i give them 5k down. fucks. i'm just gonna get a loan from a bank to pay it off, get the title, sell it, then get another car. so a lesson for you first time buyers, do not lease a brand new model when it first comes out.

[IceD out N CALI]

dayum, 5k down is a lot:o

[Surprise]

Originally posted by fishboy
i'm just gonna get a loan from a bank to pay it off, get the title, sell it, then get another car.

You said you don

[bobdobbs]

Originally posted by fishboy
i'm just gonna get a loan from a bank to pay it off, get the title, sell it, then get another car.

Bad idea, bro. You prolly aren't going to be able to sell it for more than $13K. If it costs you $18K to buy it, you're going to have to pay the difference out-of-pocket. That's 5 G's in cash. Gone.

Again: What do you owe on the lease?

[StrangeShadow]

yeah, I still have some 19k to pay for mine...and I just read some kid just got a new 03 with 4miles on it for 12k...

[fishboy]

hell yeah that is. i'm super poor, what the hell were they thinking. i don't know i am pretty mad right now about how i handled purchasing my car. i have no one to blame but me. oh well.:o

[StrangeShadow]

my dad made the deal for mine...and we new the guy who we delt with...but who new the value would drop 8k in 9 months...sucks fat crap to no you're geting ripped hard now...I think I might just have to stick with mine...a 22k civic..that doesn't run like a 22k civic...

[fishboy]

my lease payments are 365.33 a month for 47 months, minus a year and a half. i am willing to take that 4 to 6 grand hit because i am hating this car so much. i worked it out after everything i spent including the hit i will take i will have spent the same amount if i keep the car versus buying another 18k dollar car (wrx or a4). if i didn't keep the car at least i'd have a car that doesn't cause me pain.:)

[fishboy]

Originally posted by StrangeShadow
a 22k civic..that doesn't run like a 22k civic...

no shit that is how i have felt about mine and i am sick of it. plus with honda dicking me around i just don't want to give them anymore money than they have taken. this whole thing has left a bad taste in my mouth that i almost can't stand looking at my car. big change from a few months ago. i like the si i just wish i didn't get it right when it came out and that the dealership would be cool with me about buying it out. i seriously cannot jusitify what i am paying for this car any longer.

edit: everything is going back to stock in a couple of weeks so if you guys want to buy any of my parts to help absorb my hit let me know.

i have gc coilovers
skunk cat back
aem CAI
dc header
engine damper
camber kit
rear shocks - konis
neuspeed front upper
ebay brand rear upper
ebay rear lower tie
neuspeed short shift
spoon black knob
flat black 16inch slips
that's all i can think of for now

i am keeping my ground kit and catch can though. i need some bling under whatever car's hood i get next.:)

[StrangeShadow]

i like the si i just wish i didn't get it right when it came out and that the dealership would be cool with me about buying it out. i seriously cannot jusitify what i am paying for this car any longer.
Ditto, and your payments are better than mine..

[JLannoo]

Originally posted by StrangeShadow
yeah, I still have some 19k to pay for mine...and I just read some kid just got a new 03 with 4miles on it for 12k...

Really? .....damn. Good for him :D

I know leases are not a great deal in general. I only got my Si though because of a $0 down $0 deposit $216 a month 39month 39,000 mile lease promo they were having.

Still kicking myself over the 39 month thing. It will be out of warranty for 3 months on a lease! Thats not cool :( I might end up turning it in 3 months early and take the hit.

For 12K I would just bought the thing :)

[fishboy]

don't remind me about the steals people are getting with these cars.:'( :'( :D

seriously good for them. it is a great car for that price, just not what i paid for it.:) and it doesn't help that my friend's have wrxs, it took a good talk with one of them to convince me to act on getting rid of my car.

damn shadow, your payments are worse than mine? sorry. :(

[IceD out N CALI]

dang i didnt realize how bad you wanted to get out of the car. just think it through real good so u know its the right decision. although something tells me you've been thinking about it quite a bit.

[l33t]

heh once i save up 1k more i am going to jsut break my finance and sell it back to the dealer, i am sick of the new honda and dealership bullshit that honda throws out, i am going to get a 12" lifted truck with 38.5s, what a massive difference this will be

[IceD out N CALI]

Originally posted by l33t
heh once i save up 1k more i am going to jsut break my finance and sell it back to the dealer, i am sick of the new honda and dealership bullshit that honda throws out, i am going to get a 12" lifted truck with 38.5s, what a massive difference this will be

dayum. a lot of people want to get out of their eps:o

[bobdobbs]

Originally posted by IceD out N CALI


dayum. a lot of people want to get out of their eps:o

This is deflation at work. The cost of good actually gets cheaper over time so people that paid "full price" get screwed. All those fools who paid $32K for a Mini Cooper are going to be really pissed.

[David K.]

I'm pretty much in the same situation.....I bought my ep when they just hit the lot, plus I traded in a brand new Mazda. It really sucks how much I'll have paid into this car by the time it's all said and done, plus it seems to have some really annoying little problems that I was not expecting from a Honda. PLUS I'm already out of warranty. Shit.

[ep pilot]

Yeah I took a huge hit when trading my '02 Jetta 1.8t 5/spd, new it ran me $22.5K big ones, a year later, I trade it to Honda for the Si. Honda gives me $15.5 for the Jetta w/ 17K on the clock. Sells me their Ep3 for $15.5K plus $1k more for a 100K mile warranty, etc...... the rest is history.

For me the Ep3 is a welcome, I've had it for a year, not one problem, good gas milage, it's nimble & quick, the insurance is damn near double that of my Jetta, every six months.

At times I wish I had gotten a C230 Kompressor Coupe,or a Mazda Protege 5, but I actually have warmmed up to the Ep3, I will get another car eventually to go with the Ep3, I will be like those people you see in thoes hella old school Si's that are really well kept still, like 10-15 years from now.

-Ryan

[StrangeShadow]

, I will be like those people you see in thoes hella old school Si's that are really well kept still, like 10-15 years from now.
WITH EURO LIGHTS!!! :D j/k :p
it's a car I can see keeping forever and embarrassing my great-grand kids in by forcing them to drive it to school with the appreciation I drive it with...lol...like mom with her old vw bus...j/k
but it's just hard to justify the price right now...

[Steve02Si]

http://www.carbuyingtips.com/finance.htm

some good advice on that site. I just traded mine on an 02 WRX last night and got a great deal, but I didn't lease the Si and it was worth alot more than I owed. I ended up actually paying less in the lond run than if I'd just bought the WRX new instead of the Si. Talk to the dealer you bought the car from, find out what the penalty for ending the lease early is. You may have to ride it out.

[fishboy]

that is a good read thanks for that site. yeah i get the feeling my dealership wants me to stay in the lease so they can keep pounding me. they didn't want to finance me, in fact they kept urging me to stay in it. i didn't ask them what it would cost to break it and totally get out of it though. i might do that. i'm going to call a couple more banks and see what kinds of rates i can get.

[IceD out N CALI]

Originally posted by fishboy
that is a good read thanks for that site. yeah i get the feeling my dealership wants me to stay in the lease so they can keep pounding me. they didn't want to finance me, in fact they kept urging me to stay in it. i didn't ask them what it would cost to break it and totally get out of it though. i might do that. i'm going to call a couple more banks and see what kinds of rates i can get.

you can always go to another dealer. some are more willing to work with you then others-trust me.
my girl has not the best credit and all these honda dealers rejected her. then this one was willing to work and find a bank to work with her. she has bad credit and got 8.9% fiancing. now she has a brand new civic lx:)

[bloodzombie]

Originally posted by fishboy
that is a good read thanks for that site. yeah i get the feeling my dealership wants me to stay in the lease so they can keep pounding me. they didn't want to finance me, in fact they kept urging me to stay in it. i didn't ask them what it would cost to break it and totally get out of it though. i might do that. i'm going to call a couple more banks and see what kinds of rates i can get.

I was actually wondering if maybe my dealer didn't get too much out of me, but your story makes me feel better ($222 for 48 mo lease, plus I bought their bs protection package) The worst part of mine is that I'm either gonna have to buy it out at the end, or pay tons for extra miles.. I didn't realize how much I drive.


If I was you, I'd ride out the lease though, that hit you're gonna take really doesn't seem worth it. by ending your lease early, you're only giving honda MORE money for the car just so you can trade it in. You might as well just drive the damn thing until the lease is up and save up so that when you give it back to honda, you can afford a good downpayment on a new ride.

[Coil99]

Originally posted by StrangeShadow
I just read some kid just got a new 03 with 4miles on it for 12k

Where? Do you have a link? Do you know if it was w/ the Honda special financing?



Originally posted by IceD out N CALI
a lot of people want to get out of their eps

Not me. I want in!

[bloodzombie]

Originally posted by Coil99




Not me. I want in!


I think anyone who pays less than 19k for this car should be very happy with it.

[bloodzombie]

Originally posted by Coil99




Not me. I want in!


I think anyone who pays less than 19k for this car should be very happy with it.

[IceD out N CALI]

hey fishboy i'd also say to try different dealers to see what they would give you on a trade-in if u are that dead set on doing the deal

[Coil99]

Originally posted by bloodzombie
I think anyone who pays less than 19k for this car should be very happy with it.

I won't argue with you there. I think it's a great car. But, if there's a $12,000.00 EP pie, I want a slice of it!



Originally posted by StrangeShadow
some kid just got a new 03 with 4miles on it for 12k...

[fishboy]

i can't keep it i have tons of miles on the car. if i ride out the lease i will have to pay 10 gs more to buy it, that added onto a 48 month lease at 365 a month, you can do the math.:) i don't want to give them anymore money. i'd rather give that money to a bank that gives me a loan to buy the car now, get the title, and sell it to someone that wants a steal of a civic. besides this car is too slow.:eek: ;)

[StrangeShadow]

, and sell it to someone that wants a steal of a civic.
pic me!I have 5 bucks!!!

[jo3y]

I went to the dealer with 2k and got a 39 month lease for 190 a month. The equivelent american car was an SVT focus but ford wanted like 460 a month. f that! Im just going to keep beating the shit out of the EP then give it back to the dealer when everything is all wore out. I might get hit on the miles because i drive a lot but it will still be cheaper than the repairs that my EP will probably need a few years down the line :angel:

[blueiedgod]

Here is the prime example of why regular people should not get into leases. Leasing is for businesses tha can wrtie off the payments.

48 payments of 365 is $17520, just in lease payments. If you put a grand or two down that brings your total out of pocket to almost $20K for 48 months. Then you have add your residual, in case you were to keep the car, I think you mentioned $10K. That brings the total for this transaction to $30,000. Why would you agree to pay $30K for a Civic is not known, I understand that you got it when it first came out, but come on $10,000 mark up on $20,000 MSRP is absurd.. Maybe you had negative trade that you are not telling us, maybe you are in Canada and these are Canadian greenbacks. If you want out of this car really bad, you can just pay the remainder or the payments. Assuming you have 36 more months to go, you owe them $13,140 to get out of the car, right now.
Your other option is not very legal. If you have gap insurance, and I assume you do. You can have the car "totaled". It is totally up to you how you do it, but don't get caught. If you don't have gap insurance, you better pray nothing happends to the car because you are still liable for the difference between the wholesale sum insurance company will give you for total loss, and the difference owed.

My advice, DO NO LEASE. If you can not afford it in the first place, don't live beyond your means.

[StrangeShadow]

If you can not afford it in the first place, don't live beyond your means
lol my dad tells my sister that like twice aweek...:o

[bloodzombie]

Originally posted by fishboy
i can't keep it i have tons of miles on the car. if i ride out the lease i will have to pay 10 gs more to buy it, that added onto a 48 month lease at 365 a month, you can do the math.:) i don't want to give them anymore money. i'd rather give that money to a bank that gives me a loan to buy the car now, get the title, and sell it to someone that wants a steal of a civic. besides this car is too slow.:eek: ;)

You have a 10k residual after 48 months? ouch.
I guess getting rid of it is probably the right thing. Maybe you said it already, but where did you get this hellish deal? It only seems right that they should get the advertising that they deserve.

[JLannoo]

Originally posted by blueiedgod
Here is the prime example of why regular people should not get into leases. Leasing is for businesses tha can wrtie off the payments.....

...My advice, DO NO LEASE. If you can not afford it in the first place, don't live beyond your means.

Yea but he got raped..

subsidized leases can be a good deal if you dont have $$$ to put down to get a decent finance payment.

You just have to look for the deals and pay attention.

Oh and living beyond your means is what America is about baby!...where have you been? ;)

[bloodzombie]

Originally posted by blueiedgod
Here is the prime example of why regular people should not get into leases. Leasing is for businesses tha can wrtie off the payments.

.

your "prime example" is an extremely severe example of someone getting ripped off. If somebody has no intention of heavily modifying a car, and they're likely to trade it in and get something different in 3 or 4 years anyway, leasing is a good way to go.

If you're the kind of person who buys a car every few years, then you'll always have a payment anyway, so why not have a lower one? On the other hand, if you're the type that buys a car and keeps it until it's finished, that's really the smart way to be, but it's not as fun as having a new car every few years.


Whether I bought mine or leased it, it would've come out about the same either way. The fact that people are now getting them for 16k drives me a little bit crazy (seriously, is there any other car anywhere near 16k that is even in the same league?), but after I buy my car out at the end of the lease, I'll pay about 20.5k for it, which is only a couple hundred more than the dealer was trynig to sell it to me for, and I think it's a fair price and this way I have the option of giving it back at the end if I don't want to buy it.. plus I have lower payments for the first 4 years.

[IceD out N CALI]

did u already trade it in fishboy?

[blueiedgod]

I still say, whether he was rippe doff or not, that leasing is not the way to go. Besides loosing money on the depreciation you are also lining pockets of the leasing company.

Honda advertises leases on Si for $189/ month for 48 months with $1388 down, plus tax title and registration.

Lease
189x48=9072+1388=10460 total out of pocket for 48 months, plus taxes and title. Turn the car in, you have not built any equity.

Finance at 1.9% (my example, I financed for 60 months)
250x48=12000, no downpayment, plus taxes and title (taxes and title are the same as in Lease sample and are negligible as they can not be changed). According to Honda residuals on 48 month lease, I will have $10,000 in equity. According to finance calculator projection I will owe $3000 by month 48 out of 60. If I decide to trade her in, I will have $7000 toward my new vehicle.

So, you have saved $1540 in payments over 48 months, built no equity. I have spent $1540 more in payments in 48 months, but I have built $7000 in equity. Let's say, the worst case scenario, dealer low balls me on the trade, and only offers me $8000, I still have $5000 in equity toward my new car.

Leases are not what they used to be in the early to mid 90's. Compare the $189/month lease, with my $250/month loan, to me the difference is negligible, plus a leasee has to come up with $1388 (that is $28.92 more a month) $189+$28.92=$217.92. So in reality we are comparing $217.92/month lease with $250/month loan. The difference is very minimal at this point.

Yes, this guy was taken for a ride, big time. I bet the sales person was high fiving everyone, and got a nice fat check from the dealership. But, we don't know if he had negative trade, or horrable Beacon score.

[natesi]

There are few things wrong with my Civic that I was not expecting CONSIDERING IT