(MUST READ) Our Si's value has dropped!!!

[Pradamuimui]

Alright heres the deal!! I go to Kelly Bluebook today because I was bored and I wanted to see what my Si was worth. So I have a 2002 Civic Si with 14500 miles on it, and Ive had it for about a year now so I have just about the right mileage on the car. SO....guess what my car is worth?? $13,950!!! WTF?? A year old and its only worth $13,950?? Im Fking PISSED!! Im calling American Honda and Im gonna complain my ass off.

[IceD out N CALI]

it hasnt been a top seller and plus the first year is a doosey anyways. they say like the first 2 years cars depreciate the most

[jaydub]

It's called depreciation. :rolleyes:

Get a clue.

[downhil]

cars depreciate almost 20% the second it leaves the dealership parking lot.

[RMC22]

Did you take into account that the market and economy sucks right now? Look at other cars. Now is the time to buy a car..deals left and right. Plus, did you want it to sell for 17.5 used when a lot of people pay less than 15? I got 16 something as a value for mine, and thats more than i paid out the door.

[JLannoo]

Well KBB said my Si was worth 16,315 private sale

Thats higher then the value they based my lease off of last year.
Trade in was around 14,300, but thats always lower.

For example a 2002 EX with the same miles as my SI has a Private sale around 14,300 and a trade in of 12,225. Thats right in line with the SI and they sold a shit load of those LOL :)

[02SilverSiHB]

Originally posted by Pradamuimui
Alright heres the deal!! I go to Kelly Bluebook today because I was bored and I wanted to see what my Si was worth. So I have a 2002 Civic Si with 14500 miles on it, and Ive had it for about a year now so I have just about the right mileage on the car. SO....guess what my car is worth?? $13,950!!! WTF?? A year old and its only worth $13,950?? Im Fking PISSED!! Im calling American Honda and Im gonna complain my ass off.
mines worth 14 something for trade in and 17 something for retail....? I'm confused?
okay it's exactly 17,735 retail
and now it's worth 13,780 for trade in...don't know what happen from two days ago till now, but oh well. I bought the car for 16,700, so it's less than 20% which is good considering I just drove it off the lot not long ago...what's the big deal?

[Gibhunter]

GET A CLUE! If dealers are selling brand new ones for $14,995, then how much do you think you're gonna get for a used one?

I would understand if the Si was a hot seller, but most dealers can't really move them and have to sell them for way below invoice (they get their $$ on kickbacks from Honda). Fact is that if you can buy one for $15,000 or just above $15,000 then you'll never sell a used one for $14,000. Simple economic fact. Keep it for five years and sell it once it's paid off. By that time, it will recover most of the value it lost now and will definitely be more expensive than a same year used Civic EX.

[AkronSi]

Yep, all cars depreciate like mad the second you drive them off the lot. How would you feel if you just spent $300,000 on a nice Italian beauty only to have it lose close to $100,000 the second you drive away.

The thing to be more concerned with is the value of our car 3 years down the road. If it's like most Honda's it should even out and stay pretty high.

[sonic imperial]

I would have a tough time getting a lot of money out of mine at the dealer seeing how they still have some from last year sitting around with "clearance" written across the windshield. I have seen a couple more driving around in the area, and people always tend to give me a thumbs up on my car. Too many people here want the ease of driving an automatic and a larger, more powerful car or suv/truck. That's like all you see is SUV's. Lucky for me the plan is not to ditch my car anytime soon but rather pay it off and enjoy no car payments for a while.

[ADAMnQuickCIVIC]

My 2000 Maxima was $23,000 brand new.
1.5 years later it was worth $10,500 trade-in.
How's that for depreciation?

[civicpimp]

The second your car drives off the lot your value depreciates. It will staedy out over the years. I think I read something somewhere that said previous civic si's held 55%-60% of there value after 5 years. Thats pretty damn good.

[civic hatch boi]

prad, u dork. our car isn't a 99-00 Si where dealers are willing to sell them for $19000 with 30k miles on it..

[chunky]

you live in kansas.

hondas aren't very popular cars there to begin with.

out in cali an si fetches a higher price, same over here in atlanta.

KBB usually takes your local region into account.

[Pradamuimui]

Ok...I dont give a shit what the hell anyone says about the price dropping once you drive it off the lot etc.... I already know all of that shit. My point is this...I bought my Si for $19,000. But I also got it the SAME month that it came out. So it would stand to reason that I would be a little pissed off that my car has a trade in value of only $13,950 after only one year of its release date. ITS PATHETIC!!! Also if you look at the 99-00 Si's...shit Ive seen them sell for close to 18-19K used with 30 or 40,000 miles on them. I mean WTF?? I just find it rediculous, but if everyone else is cool with there cars worth dropping that much...cool go ahead. I still think that we got the shaft!!! We are the BASTARD children of the Si family, and to me it looks like it will stay that way.

[chunky]

Originally posted by Pradamuimui
Ok...I dont give a shit what the hell anyone says about the price dropping once you drive it off the lot etc.... I already know all of that shit. My point is this...I bought my Si for $19,000. But I also got it the SAME month that it came out. So it would stand to reason that I would be a little pissed off that my car has a trade in value of only $13,950 after only one year of its release date. ITS PATHETIC!!! Also if you look at the 99-00 Si's...shit Ive seen them sell for close to 18-19K used with 30 or 40,000 miles on them. I mean WTF?? I just find it rediculous, but if everyone else is cool with there cars worth dropping that much...cool go ahead. I still think that we got the shaft!!! We are the BASTARD children of the Si family, and to me it looks like it will stay that way.

I think what's more important is that you enjoy the car you have.

who care's what it's worth to someone else?

Unless you are planning to sell/trade in the car soon, it shouldn't make a difference.

here in atlanta your car if it was in excellent shape would go for 15,815 to a private party.

The resale value of our cars will go way up if honda stops making the EP, which it's very likely that they will do. Civic si's have traditionally been limited run models. The value of the 6th gen si's didn't go up until honda stopped making them. Then when you factor in the ones that have been wrecked, etc, you get a somewhat rare car.

so no need to get your panties in a bunch just yet. the value of our cars will rise most likely.

[civic hatch boi]

exactly who kares how much it is in kbb?? not like im planning to sell/trade my car.. im keeping my baby for at least 10 yrs..

[JLannoo]

Originally posted by Pradamuimui
Also if you look at the 99-00 Si's...shit Ive seen them sell for close to 18-19K used with 30 or 40,000 miles on

I find the above hard to believe, But then again the world is full of morons.

[Gibhunter]

Originally posted by JLannoo


I find the above hard to believe, But then again the world is full of morons.


Hahaha. Yep, you are 100% correct. As for Pradmuimui, you paid $19,000 for your car, but dealers now sell it for $15K flat. What, would you like to be able to sell a used Si for more than dealers charge for a brand new one?

Resale value is proportional to a car's popularity and to what they cost when new. Used Audi costs way less than a used BMW even though both cost about the same when new. Why? Because a BMW is a much sought after.

Same thing goes with the 99Si. If it was a car that was very popular and very hard to find, then its market value would be inflated to a point that it could sell for just as much as a brand new one, especially after it was discontinued.

Since the current Si is not that popular to begin with, its used price has to be low or it otherwise would never sell.

Too bad that you don't like it. Still if you bought yours for 14,995 like some other members here, then you'd be very happy with the 13,900 that a used one can fetch. Heck, it's only a $1000 less then what they paid for theirs brand new! That's an awesome resale value!

[ssvr6]

Originally posted by chunky


Unless you are planning to sell/trade in the car soon....


He is. He's getting the US spec CTR-Sir-Type S EP Hatch. (According to his sources of course.)

:rolleyes:


Steve

[IceD out N CALI]

Originally posted by ssvr6


He is. He's getting the US spec CTR-Sir-Type S EP Hatch. (According to his sources of course.)

:rolleyes:


Steve


haha i remember that one:D

[jaydub]

Can we all see the response letter from Honda of America, telling you what a toolbag you are?

http://www.dubfusion.com/tehfunny/tooltime.jpg

[Type X]

its a civic. . .