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View Full Version : FYI: Resale on Latest Generation Civic SI



rc2002
05-26-2009, 10:36 AM
Not going to shit on individual threads, but I've noticed quite a few threads with ~$24k+ asking prices for used 06 and 07 Civic SI's.

Meanwhile, with the dealer incentives, brand new 08s are selling for $23k and change out the door (tax in).

I've already steered quite a few people away from overpaying for these cars so this is just an FYI for anyone considering paying crack money to buy the second hand ones.

Aleks
05-26-2009, 10:43 AM
I've noticed this too.

My guess is people owe way more than the cars are worth.

Similar thing is happening with Chargers and 300c cars on autotrader. Chrysler has $12K incentive on them making them cheaper to buy new than used :nut:

sputnik
05-26-2009, 10:45 AM
Not to mention the people that spend thousands on stuff like aftermarket tint, coilovers, winter tires/rims, exhaust etc and think they can make their money back on those items as well.

scat19
05-26-2009, 10:46 AM
Originally posted by sputnik
Not to mention the people that spend thousands on stuff like aftermarket tint, coilovers, winter tires/rims, exhaust etc and think they can make their money back on those items as well.

This is it exactly. This is not your house, improvements do NOT increase the value :rofl:

realazy
05-26-2009, 10:57 AM
It really sucks for 06 and 07 owners because they probably paid close to $32gs for their's back then.

I recently was at the dealer and they had an 08 fully loaded with all the crap that you don't need like carbon fiber trim and lip kit (which is really nice) all for under $25 000 tax in!!

Without the dealer incentives, the 06 should still fetch close to 20 considering ~$3000/yr depriciation. (condition and milage dependent of course)

However, with the incentives now, I wouldn't think an 06 would be worth more than $15gs.

B4tMan
05-26-2009, 11:15 AM
Originally posted by sputnik
Not to mention the people that spend thousands on stuff like aftermarket tint, coilovers, winter tires/rims, exhaust etc and think they can make their money back on those items as well.
Hehe, that si true

kevie88
05-26-2009, 11:24 AM
I was thinking about this just the other day..

I was looking at some used SI's before we bought the new 09 STI, and people didn't believe me when I told them you could get a new 08 for under 25k :rofl:

We nearly bought a new 07 in aug of 07 and crowfoot Honda wanted $32000 haha. They wouldn't even let us test drive the car saying it was a seriuos performance vehicle and they don't just let anyone drive it (:rofl: again!)

I ended up buying my (then only 6 month old) 06 STI for $34,000. So glad I did!

rage2
05-26-2009, 11:55 AM
I guess I'm glad I got a GTI instead of a Civic Si.

How are used GTI's holding up in price? I'm thinking of unloading mine so I can upgrade :).

403Gemini
05-26-2009, 12:05 PM
I've noticed this as well. I get a good laugh seeing people trying to sell their 06 civic now for more than i bought a 06 WRX with less km's about a year ago

kaput
05-26-2009, 12:06 PM
.

403Gemini
05-26-2009, 12:07 PM
Originally posted by rage2
I guess I'm glad I got a GTI instead of a Civic Si.

How are used GTI's holding up in price? I'm thinking of unloading mine so I can upgrade :).

What you planning next rage?

heavyD
05-26-2009, 12:08 PM
Originally posted by rage2
I guess I'm glad I got a GTI instead of a Civic Si.

How are used GTI's holding up in price? I'm thinking of unloading mine so I can upgrade :).

Already? Frikkin ballers lol.

rage2
05-26-2009, 12:14 PM
I dunno, something with more power. GTI's too slow for me in the winter. Need power on the nice dry winter days.

Anyways, anyone with good info on what 08 GTI's are selling for nowadays? And how much new 09's cost new?

GQNammer
05-26-2009, 12:14 PM
FS: 2006 Si

$28k firm



Naw but seriously, 25K out the door? That's a wicked deal. With the kit mine costed 30k after taxes

Aleks
05-26-2009, 12:22 PM
Originally posted by rage2
I dunno, something with more power. GTI's too slow for me in the winter. Need power on the nice dry winter days.

Anyways, anyone with good info on what 08 GTI's are selling for nowadays? And how much new 09's cost new?

Get stage 2 for it, that's about as fast as a stock 335.
But then again a 335 to you is probably painfully slow as well.

I was offered ~ 25K for my GTI on a trade in at a dealer. Privately I doubt I could get more than $26-27 for it :dunno:

2EFNFAST
05-26-2009, 12:31 PM
Originally posted by Aleks
I've noticed this too.

My guess is people owe way more than the cars are worth.

Similar thing is happening with Chargers and 300c cars on autotrader. Chrysler has $12K incentive on them making them cheaper to buy new than used :nut:

Any chance they're selling new SRT8s for 20-25k? :burnout:

edit: nope, just checked, they want 55k for a base 300C :rofl: :rofl:

QuasarCav
05-26-2009, 12:40 PM
We hired on a younger guy right when the new Civic models came out and he bought a 06 Si Coupe with every option and many dealer add-ons for just under 40K.

I was seriously considering it when they were at 0.9% lease and a high residual but I bought used instead.

hampstor
05-26-2009, 01:14 PM
I'm not surprised to see this - lots of people (especially the younger generation) buy things based on the monthly payment instead of the total cost/duration of a loan.

If you take a vehicle and finance it over 60 months to get the lowest possible monthly payment, the car is going to depreciate more than the amount paid on the principle of the loan. Of course, no one wants to sell their car and make payments on a car they don't have anymore - so when they sell it it will be priced to cover the loan.

Compound the problem with a slow economy and manufacturers offering lots of incentives leads to these used vehicles being overpriced.

2EFNFAST
05-26-2009, 01:14 PM
Originally posted by QuasarCav
We hired on a younger guy right when the new Civic models came out and he bought a 06 Si Coupe with every option and many dealer add-ons for just under 40K.



ughhhh, 40k for a civic ????:confused: ???? ......... I paid less than that for my z06 and viper (used of course, but low mileage - 20k and 5k kms respectively).

Heck, even if I could only have 1 car I'd buy a corvette as a daily driver, inter rims for it, then raise the ride height in the winter. And i'd still save over that civic apparently :burnout:

QuasarCav
05-26-2009, 01:23 PM
Originally posted by 2EFNFAST


ughhhh, 40k for a civic ????:confused: ???? ......... I paid less than that for my z06 and viper (used of course, but low mileage - 20k and 5k kms respectively).

Heck, even if I could only have 1 car I'd buy a corvette as a daily driver, inter rims for it, then raise the ride height in the winter. And i'd still save over that civic apparently :burnout:


But the guy that bought the Civic only told me that he bought it once.

Tik-Tok
05-26-2009, 01:32 PM
A coworker just sold his 2007 Si, with 44k KM for $18,200. Took him 2 months in Kijiji to sell it at that even. (he was asking $19k)

heavyD
05-26-2009, 01:36 PM
Originally posted by rage2
I dunno, something with more power. GTI's too slow for me in the winter. Need power on the nice dry winter days.

Anyways, anyone with good info on what 08 GTI's are selling for nowadays? And how much new 09's cost new?

You should get an STI.:thumbsup:

benyl
05-26-2009, 01:38 PM
Originally posted by heavyD


You should get an STI.:thumbsup:

Haha, not enough power for raj2. Even though he can't even drive any of his cars right now... haha

Team_Mclaren
05-26-2009, 01:40 PM
23K for a new Si is such a great deal, i feel for people who paid 6.9% at 34k a couple years ago.

2BLUE
05-26-2009, 01:43 PM
T&T wants $25k plus taxes right now in there showroom I belive its 07 or 08

Tik-Tok
05-26-2009, 01:46 PM
Originally posted by Team_Mclaren
23K for a new Si is such a great deal, i feel for people who paid 6.9% at 34k a couple years ago.

That would be my coworker :nut: . He took a huge hit on it, but had to sell because he couldn't afford the insurance after a few tickets.

Eken9
05-26-2009, 01:50 PM
Who is selling 08 Si's for 23k tax in? What are the conditions?

Sounds too good to be true.:dunno:

heavyD
05-26-2009, 02:07 PM
Originally posted by benyl
Haha, not enough power for raj2. Even though he can't even drive any of his cars right now... haha

Not enough power? Winter car with 300 hp and AWD pretty well owns 400 hp and RWD in the winter no? I guess he could go 335xi but he already has a 3 series car.

Why can't he drive them? I'm not up to speed on the gossip.:cry:

Team_Mclaren
05-26-2009, 02:12 PM
Originally posted by Eken9
Who is selling 08 Si's for 23k tax in? What are the conditions?

Sounds too good to be true.:dunno:

T&T honda, read the fucking thread they are brand new

Tik-Tok
05-26-2009, 02:13 PM
Originally posted by heavyD


Why can't he drive them? I'm not up to speed on the gossip.:cry:

http://forums.beyond.ca/st/263157/work-sent-me-to-bangalore-photojournal/

speeed
05-26-2009, 02:36 PM
It makes sense for a brand new 08 si to be about 24k out the door with no other options. 23k taxes in is pushing it.

I recently bought an 08 si in march for a bit over 26k with the lip kit and paint/rust protection.

Are they still selling 08's? Back in march T&T Honda only had a few left

rage2
05-26-2009, 04:20 PM
Originally posted by heavyD
Not enough power? Winter car with 300 hp and AWD pretty well owns 400 hp and RWD in the winter no? I guess he could go 335xi but he already has a 3 series car.

Why can't he drive them? I'm not up to speed on the gossip.:cry:
In the snow, yes. But we have a lot of dry days in the winter where 457hp is nice to have.

And ya, I'm in India. I've been outsourced!

rc2002
05-26-2009, 04:24 PM
Originally posted by rage2

457hp


C63 AMG?

benyl
05-26-2009, 04:25 PM
Originally posted by richardchan2002


C63 AMG?

"300 horsepower is fast. 400 will take your breath away. That's why we gave it 451."©

rage2
05-26-2009, 04:30 PM
haha fuck i must be tired to let that one slip by :rofl:.

These 15 hour shifts suck :(.

Sorath
05-26-2009, 05:00 PM
All the ones who leased it when they were at 1.5 lease rate are laughing now :)

4doorj
05-26-2009, 05:18 PM
Man, I'm surprised at how hard it is to sell a used SI now these days. My guess is the economy. I've never seen honda's giving these low rates or these huge cash discounts before. Which is why it's killing the resale value. 2 years ago civic's were keeping their value, a friend of mine sold me a brand new 07 civic and I could only get $250 off MSRP, now you can literally get a few thousand off MSRP :eek: Good for people buying new cars now. I'm guessing if it wasn't for this stupid economy SI's would sell in the mid 20's.

stevieo
05-26-2009, 05:24 PM
the finance rates on the SI (well i checked this morning) 0.9% on rates up to 48 months that i checked.

gpomp
05-26-2009, 05:53 PM
hey, anybody want to buy my 08 si? i'll let it go for $26000

5hift
05-26-2009, 06:03 PM
The resale of both new Hondas and Toyotas has gone down the drain just like their US counterparts because there are many desparate sellers that practically give their cars away nowadays because they need cash asap, making it really tough for the average, more patient seller.

To add to this, when my 2007 CSX was bought brand new by its first owner in the fall/winter of 06, it was in the mid $30K range I believe. In early 2009 I bought it off him for $18,500 (only 30 K on it) because he had been laid off, had zero interest at his original price and was really hard up for cash. It had a huge balance of an transferable extended warrentee on top that I got for free as he paid for it when purchasing the car new.

I realize for the most part it is a dressed up civic, but a $15-17 K drop in value in ~2 years for a Honda is ridiculous.

Shogged
05-26-2009, 06:24 PM
this is pretty common for all new cars. Your car loses the most value in the first year, and continues that trend till about the 5th year when it starts to ease off on the downward trend. Problem is lease and finance payments don't move nearly as fast as depreciation. Buyers who insist on new vehicles and then dump them 1-2 years later pay a pretty hefty price.

Thats why I love used cars =D I'm always looking for cars and when I see a good deal and a car in good shape with an attractive price, I can usually unload the car i've been driving for a year or so and only be upside down maybe 500-1000 bucks! Sure beats being upside down 12 thousand like every new mazda owner I know who bought in the last 3 years! =D

Bottom line is, if you're going to go new, find a car that fits your needs for at least the length of your financing or lease! You'll thank yourself later.

Skyline_Addict
05-26-2009, 06:47 PM
hmmm maybe i should get an si...hehehe

danno
05-26-2009, 07:25 PM
Originally posted by rage2
I dunno, something with more power. GTI's too slow for me in the winter. Need power on the nice dry winter days.

Anyways, anyone with good info on what 08 GTI's are selling for nowadays? And how much new 09's cost new?

for a 07-08 gti i think you'll be lucky to get $25k probably closer to $22k
some have been for sale for so long.

911fever
05-27-2009, 11:18 AM
they depreciate harder than people think. They are really cheap here in TO.

urban.one
05-27-2009, 11:57 AM
When the 8th gen Civic came out the Si was rare and dealers had limited stock. Dealers didnt need to offer incentives in terms of price and manufacturers didnt need to offer cheap financing to get the Si to move. If you wanted to be the first boy racer on the block with an Si you were going to pay a pretty penny for especially if you financed it.

The 2010s are probably only months away from hitting the street. With an 06 your looking at a 4 year old car already and a car that is no where near as rare as it was when it first hit the streets 4 years ago. That premium that you payed in late 05 or early 06 is now gone and youre not going to recoup it.

Then add to that slowing car sales due to the recession causing dealers and manufacturers to offer incentives, the effect of the canadian dollar going above par and still remaing strong causing used car prices to drop and new car prices to adjust, and youve got a used car market thats taken a beating in certain areas.

2ndgenlude
05-27-2009, 02:49 PM
i have had my 08 coupe up for a month or so at 22k. i feel its fair at only 23k km or something like that with a bunch of aftermarket stuff. i would sell for 21 if i sold it with the winter set of rims. i paid 30 for it last year. i can't believe honda is selling them for 25k +taxes and shit. did i ever buy mine at the wrong time...i still think 21k for a 08 is fair though.

benyl
05-27-2009, 04:17 PM
Originally posted by 2ndgenlude
i still think 21k for a 08 is fair though.

The market and Honda beg to differ.

gpomp
05-27-2009, 04:26 PM
Originally posted by benyl


The market and Honda beg to differ. yeah, with brand new 08's selling for $22k + tax...

2ndgenlude
05-27-2009, 04:30 PM
dealerships barely have any 08's left at all. i know edmonton is pretty much completely done with them. so your only option soon is the more expensive and redesigned 09's.

benyl
05-27-2009, 04:30 PM
I have the same problem with my 335i.

BMW was offering $7K or so off 2008's. They were offering almost $18K off the 2008 M3. There are a few guys on this board that took advantage of that.

2ndgenlude
05-27-2009, 04:34 PM
i just did a search and the honda dealerships that list on canada trader are all listed for 24.5k+ for 08's. plus there are only 40 or so si's for sale in all of alberta on there. im honestly surprised any honda dealerships have any 08's left. they have been phased out for awhile now.

realazy
05-27-2009, 04:47 PM
It's just the fact that you have to find the right buyer.

The buyers that know about these deals but missed out will probably not pay 21k for your used one unless they are really set on that exact car you're selling.

The problem is that there are quite a few for sale and it will make finding that many "right" buyers difficult.

rage2
05-27-2009, 05:11 PM
Originally posted by 2ndgenlude
i just did a search and the honda dealerships that list on canada trader are all listed for 24.5k+ for 08's. plus there are only 40 or so si's for sale in all of alberta on there. im honestly surprised any honda dealerships have any 08's left. they have been phased out for awhile now.
We don't have to convince you of anything, but having your car listed for a month and having to drop your "firm" price and no bites on the car must mean something right? :)

Just because dealers are listing for 24.5k+ doesn't mean it's going out the door at that price. As mentioned, ppl are walking out with 22-23k tax in brand new. Besides, you have a lot of k's on your car for an 08, that plus it's used, and you'll see why nobody's biting on your 22k firm price.

Denslayer
05-27-2009, 05:31 PM
Originally posted by realazy
It's just the fact that you have to find the right buyer.


the right buyer meaning.. a sucker???:rolleyes:

2ndgenlude
05-27-2009, 06:20 PM
Originally posted by rage2

We don't have to convince you of anything, but having your car listed for a month and having to drop your "firm" price and no bites on the car must mean something right? :)

Just because dealers are listing for 24.5k+ doesn't mean it's going out the door at that price. As mentioned, ppl are walking out with 22-23k tax in brand new. Besides, you have a lot of k's on your car for an 08, that plus it's used, and you'll see why nobody's biting on your 22k firm price.

the only reason im dropping my firm price is whenever i make a payment i drop it. all i want to do is cover my loan remainder. im not looking to make any money on it. and i have 4-5k in it with extras. my only saving grace is someone might be willing to pay a bit more for what i have done with it. im not arguing the point. its just that owners got owned by hondas incentives to unload whatever 08's they have left. now i have to wait, which sucks due to being laid off. so im in a tight spot. and honda definately isn't helping.

tentacles
05-27-2009, 06:32 PM
the only reason im dropping my firm price is whenever i make a payment i drop it. all i want to do is cover my loan remainder. im not looking to make any money on it.

Yeah, that's pretty kind of you, willing to buy a new car, drive it for a year, sell it, and NOT MAKE ANY MONEY ON IT. :nut:

2ndgenlude
05-27-2009, 06:50 PM
lol, im not trying to be a ass, just trying to get back on track. lots of people are in my same situation. i would prefer to keep the car, but my finances tell me i can't. it sucks. but shit happens and you have to get through it.

FiveFreshFish
05-27-2009, 06:53 PM
Part it out and restore to stock.

heavyD
05-27-2009, 08:45 PM
I wouldn't be surprised if Honda axes the Si for the next generation seeing how poorly the current model is moving. It's pretty well following RSX sales to a tee. Start off with a bang and then sell in increasingly poorer numbers every year after. Honda doesn't need the Si anyway as plain jane civics and accords is what makes their business tick. Even Acuras were selling miserably in the US even before the recession. Honda is hurting and I wouldn't be surprised if they make some difficult decisions in the future such as axing Acura and selling some of those vehicles under the Honda nameplate.

benyl
05-28-2009, 08:36 AM
Yes, when Acura offers $15K of an new MDX, you know they are hurtin'

natejj
05-28-2009, 04:30 PM
Why is anyone paying more then 20k for a civic? You could get an 02 WRX with 200 hp for 11k.... :nut:

Chandler_Racing
05-28-2009, 04:37 PM
Originally posted by benyl
Yes, when Acura offers $15K of an new MDX, you know they are hurtin'

Which Acura dealer is offering 15k off a new MDX?

403Gemini
05-31-2009, 04:06 AM
Originally posted by natejj
Why is anyone paying more then 20k for a civic? You could get an 02 WRX with 200 hp for 11k.... :nut:

Its funny a few months back i was actually considering selling the wrx and downgrading to something so most of my car loan would be gone. I was looking at 06 civics and when I saw them asking for 25-26k I got a good laugh and decided to just keep my car lol ;)

5hift
05-31-2009, 09:08 AM
Originally posted by natejj
Why is anyone paying more then 20k for a civic? You could get an 02 WRX with 200 hp for 11k.... :nut:

I dont know about +20K for a civic, but they are going after the fuel consumption and relabilty, not to mention balance of factory warrentee. A 02 wrx is approaching 8 years old and would need a bunch of preventitive maintenence.

Using your reasoning it would be even more value to go get a 03 Mustang with 300 HP for 5K

Jlude
05-31-2009, 10:00 AM
Originally posted by Chandler_Racing


Which Acura dealer is offering 15k off a new MDX?

They're not

benyl
05-31-2009, 10:20 AM
Cash incentive on the MDX is $8,500. You can get the rest of a discount from an auto broker, not the dealer.