Used car prices....

Steve-arino · #1 06-20-2021, 07:34 PM

I bought a used 2018 Honda Civic Si last December. I've had a lot of fun blasting around in this hot red coupe with its sweet 6 speed manual transmission. There's no "but" to that sentence.

For a number of reasons I decided to check what it would be worth on the used market (kbb or edmunds or nada). I got prices from slightly below what I paid to 15% more than I paid 6 months ago. I decided to check it out.

I went to a couple of local Honda dealers and ended up trading it on a new 2022 Honda Civic EX. 11th generation, brand new iteration of the Civic. I cringe when I enter a dealership, but at this point I just tell my salesperson what I want and let them go back and forth to the managers office and figure out how they can get there.

I ended up with what I paid for my Si and the dealer "sold" me a Civic at list price; lots of local dealers are asking well over list. The sales tax I paid in December of 2020 was deducted from tax on the new car. All in it's going to cost me a few thousand dollars to move from a 2018 to a 2022 with all the benefits a new car brings.

Point is, if you haven't recently, you may in fact want to check what that bomber is worth on a trade. There is so much information available to us as consumers that for a change, you might have the upper hand.

AX17609 · #2 06-21-2021, 03:32 AM

I just had a similar experience. Used car prices had me wandering into Carmax just to get a curiosity quote. I was astonished at the number. Two days later it was out with the old, in with the new.

RedJoker · #3 06-21-2021, 06:04 AM

Yup, we just got rid of a 17 year old, 200k mile civic at carmax for a surprising amount of money. It had been sitting for about a year but still ran. We were thrilled.

seannx · #4 06-21-2021, 06:10 AM

Same here. Two months ago I traded my 2016 Honda Accord with 60K miles in towards a 2021 Accord Hybrid. Got full Kelley Blue Book, used my Costco membership to get the lowest price, and it was the easiest car purchase ever. Am really enjoying the new car. It’s super comfortable, a dream to drive, love the safety and convenience features (like auto headlight dimming), and the 48/48 mileage is especially nice with gas well over $4/gallon locally.

RP · #5 06-21-2021, 07:12 AM

I took my '16 Honda CRV in for servicing last week, and my guy at the dealership told me that decent used cars are fetching really good prices. Due to the computer chip shortage, new models are in very short supply. I had no intention to sell my CRV nor buy a new car; but I sold my '10 Mazda MX5 in February to Carmax through a very easy process at a very decent price...

Mr. Jelly · #6 06-21-2021, 07:37 AM

When I bought my SUV I made a deal with the sales person that what we agreed on was all I was going to pay. I wasn't going to deal with any hidden up charges. Then I was handed off to the finance guy to finalize the paperwork. That takes longer than it should. He handed me a different price with added charges. I said no thanks. He got a manager and he went over everything with me again. He blamed it on the salesman. I said I'm not going to sit here and beat up the sales guy that's not here and said thanks but no thanks as I got up to leave. I got my deal. It does make a difference when you are paying cash.

RP · #7 06-21-2021, 08:12 AM

Quote:

Originally Posted by Mr. Jelly

When I bought my SUV I made a deal with the sales person that what we agreed on was all I was going to pay. I wasn't going to deal with any hidden up charges. Then I was handed off to the finance guy to finalize the paperwork. That takes longer than it should. He handed me a different price with added charges. I said no thanks. He got a manager and he went over everything with me again. He blamed it on the salesman. I said I'm not going to sit here and beat up the sales guy that's not here and said thanks but no thanks as I got up to leave. I got my deal. It does make a difference when you are paying cash.

That's Car Dealership 101; however, the customer's greatest defense is exactly what you did. If the customer is really willing to walk away from a deal wrought with trumped-up charges, the dealership will acquiesce...

harpspitfire · #8 06-21-2021, 09:57 AM

i never got a good deal, i buy trucks, used, then keep them 8 -10 years- then sale for what ever i get it for it, i figure i spend about $1-1.5K a year for ownership

Dotneck · #9 06-25-2021, 04:06 PM

I leased a Subaru Crosstrek a few years ago and was coming up to the end of my lease. I asked for a quote from Carvana and they paid off the car and gave me $6500. I went down the street and bought a Mazda 6 Carbon Edition.

The hard part is many dealers don’t have cars to sell or they’re putting market adjustments on the ones they have…but it sure is a good time to sell your car….

Neil K Walk · #10 06-29-2021, 12:59 PM

I guess I should have waited. We got less than $2K for our 2010 Odyssey EX with 150K miles as a trade in for a 2021 Pilot back in October. It was hardly in pristine condition though. No regrets otherwise.

ghostnote · #11 07-01-2021, 05:50 PM

Yes, it's insane what used vehicles are going for. I've been trying to buy a used pickup, and they're available, but I refuse to pay 20%-25% above what they should cost. And I'm not looking for a daily driver; I'll probably use it once a week to haul things around. In a few months when the auto makers get their computer chips and are back to full production, I think the used car insanity will subside and the prices will come back to normal. Fingers crossed...