Last post on Feb 17, 2010 at 3:54 PM
You are in the Honda Civic
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Honda Civic, Hyundai Elantra, Sedan
#1576 of 1641 Elantra Resale Value
Oct 08, 2007 (7:51 am)
Many here on Edumunds.com denigrate Hyundai resale values. I just finished some research based upon the purchase of our 2006 Elantra GLS sedan automatic vs. a 2006 Honda Civic LX auto and a 2006 Toyota Corolla LE auto. The prices paid, including TTL, for the Civic and Corolla were based on an average of those posted here on Edmunds.com from buyers for those trims over a snapshot of time (and, forum postings) in 2006. Interestingly, the Elantra does quite well compared to the Civic and Corolla which contradicts the position of many anti-Hyundai posters.
The values (trade-in and private party) were taken from the Edmunds.com appraisal calculator. This trade-in value correlates with what my local dealer, and Intelliprice, would offer for a new car trade-in, so this value should be good enough for basic comparison purposes. The data:
2006 Elantra - Trade-in: $9,647 Private Party: $10,738
2006 Civic - Trade-in: $13,508 Private Party: $14,620
2006 Corolla - Trade-in: $11,429 Private Party: $12,613
Comparing total purchase price vs. trade-in value:
I paid $13,700, including TTL, for my 2006 Elantra. This equates to a $4,053 loss since purchase - in my case, purchased in December 2005.
The average purchase price, including TTL, based upon Edmunds.com postings for the 2006 Civic LX is $17,500. This equates to a $3,992 loss since purchase.
The average purchase price, including TTL, based upon Edmunds.com postings for the 2006 Corolla LE is $16,200. This equates to a $4,771 loss since purchase.
In each case, the first year depreciation hit is substantial, as expected. But, when you compare each based upon not the MSRP, but the actual delivered price, including TTL, the Hyundai fares quite well against their highly regarded competitors.
#1577 of 1641 Re: Elantra Resale Value [colloquor]
Oct 08, 2007 (8:16 am)
Using those numbers, the Civic has held 77% of its value. The Elantra has held 70%.
Out of curiousity, what does Edmunds say is the average purchase price for the Elantra? And what model are you using to compare?
Thanks for the info!
#1578 of 1641 Re: Elantra Resale Value [thegraduate]
Oct 08, 2007 (9:02 am)
Percentages can be misleading. They can be higher on a higher-priced car than on a lower-priced car, yet you'll lose more in depreciation dollar-wise on the higher-priced car. That's why I focus on dollar depreciation vs. percentages.
These numbers reflect my own experience, e.g. $5900 in depreciation on a '01 Elantra GLS after 5-1/2 years. I recently checked on the resale value of my '04 GT, and it's down about $3000 from purchase price after 3-1/2 years. I'll take that kind of depreciation any day.
#1579 of 1641 Re: Elantra Resale Value [backy]
Oct 08, 2007 (9:08 am)
I worry about the info I research and find on resale vs. that of real-world values. For example, the resale on my Accord was higher than that of what end-of-the-year 2006 Accords were selling for last year. That can't be completely accurate. OTOH, I have a buddy with a 13 year old (1994) Accord EX, 201k miles on it. He put a sign in the window with $4,000 on it. He had five calls in three days. He isn't selling yet, but wanted to see what he could get for it. He told me he figured he'd have to come down to $3k or so (heck, the car has been in two accidents, albeit minor ones).
I wouldn't pay $4k for a 200k mile car, but apparently the old Hondas don't drop as much as they say! That excites me somewhat, as I have 175k on my 1996 Accord, and with timing belt coming up, and a need for new struts, I'm looking at over $1200 worth of work it is going to need. I also have someone who REALLY wants this car, and has for years (for his son who will be 15 soon - he works on them and wouldn't have a problem changing the timing belt or water pump himself). I may have to check the paper to find out a fair asking price - blue book is undercutting me!
#1580 of 1641 Re: Elantra Resale Value [thegraduate]
Oct 08, 2007 (9:18 am)
Yes, you have to take published "resale prices" with a grain of salt. But I figure if the prices of my Elantra have been inflated, so have the prices of the Civic.
I happened to scan Elantra used car prices in a 500 mile radius the other day and was surprised how high they were. Of course, these are asking prices, but even allowing for dickering they were holding up very well I thought. Maybe all the good press the Elantra has been getting, e.g. recommended used car by CR, Edmunds's top pick for a used compact, good reliability scores etc. have been doing some good.
#1581 of 1641 Civic LX vs. Elanttra
Jan 12, 2008 (2:54 pm)
I got to take a nearly-new Civic LX for an extended drive this past week while traveling in Southeastern Florida, courtesy of Hertz. I put my comments here:
backy, "The Forums Test Drive Team" #198, 12 Jan 2008 1:23 pm
I was glad to have the five days in the Civic, as it gave me a good chance to compare it to the Elantra, which I've rented on several occasions. I was impressed in many ways by the Civic. I think it's better planted on the road than the Elantra, it has some nice touches in the interior such as a sliding center armrest, a thick steering wheel, and oil life gauge, and it had distinctive, sporty styling. But overall, for what I want in my next car, I'd take the Elantra SE. For hundreds less (MSRP) than the Civic LX, the Elantra offers a much larger interior (especially the rear seat), ESC, 4-wheel discs, five-spoke alloys, 6-speaker XM radio, audio controls on a leather-wrapped steering wheel, 60/40 rear seat opening to a larger trunk, trip computer, fog lamps; little touches like lighted vanity mirrors, overhead storage, two 12-volt outlets, auto on/off headlamps, rear center armrest; and of course the longer warranty. Also, the Elantra is quieter inside (less tire and wind noise) and has a smoother ride, albeit with less crisp handling. The Elantra gives up 1 mpg (EPA estimated overall) to the Civic. The Elantra is higher, meaning it's easier to climb into and out of than the Civic--more and more important as one gets older.
If someone doesn't need a roomy rear seat, likes the way the Civic handles, likes its low stance, and doesn't mind paying more to get a Honda, the Civic would make a fine choice.
#1582 of 1641 08 Honda Civic LX v/s 08 Hyundai Elantra SE
Mar 24, 2008 (11:24 am)
I'm in market for a new car and narrowed down between Honda Civic v/s Hyundai Elantra. Both are similarly priced with Elantra being little bit cheaper than Civic. Mileage wise it seems both are on par. What is opinion of others ? I'll be driving in snow and seems Civic lacks certain extra safety features that Elantra SE has. Also seems like CR rated Elantra SE higher than Civic just because of extra safety features.
#1583 of 1641 Re: 08 Honda Civic LX v/s 08 Hyundai Elantra SE [mjoshi]
Mar 24, 2008 (11:58 am)
The Elantra SE does have standard electronic stability control with traction control, which is not available on the Civic LX (rumors are that it will be available on the LX for 2009). Both the Civic and Elantra are highly rated by CR, with the Civic EX with a stick shift tying the Elantra SE with automatic in their rankings (both got 82 points), with the Civic EX with automatic getting 78 points.
Other than the ESC/traction control, the cars have similar safety features. The Civic has done very well in crash tests, as has the Elantra but the Elantra hasn't been tested by the IIHS for side impact yet.
The cars are quite a bit different in other aspects, though (I've driven both). Civic has crisper handling and slightly better fuel economy (29 vs. 28 mpg EPA combined), the Elantra has a roomier interior and trunk and a softer, quieter ride. They are both really good small cars, but you might prefer how one drives vs. the other. The Elantra SE also includes quite a bit more equipment than the Civic LX, e.g. alloys, fog lamps, leather wheel with audio controls, XM radio, rear center armrest, lighted vanity mirrors, trip computer, heated mirrors.
The other thing to consider is that although the Elantra costs less up front, the Civic has historically higher resale value. That can be important if you plan to keep the car for only 2-3 years. There are some great incentives on the Elantra now, with a rebate ranging from $1500-2000 depending on state.
#1584 of 1641 Re: 08 Honda Civic LX v/s 08 Hyundai Elantra SE [mjoshi]
Mar 24, 2008 (11:59 am)
If driving a lot in snow, the Civic lacks Stability Control, the Elantra's main advantage. The Elantra is really a great deal, as it offers more features for less money. The Civic is a real hoot to drive though!
#1585 of 1641 Re: 08 Honda Civic LX v/s 08 Hyundai Elantra SE [thegraduate]
Mar 24, 2008 (1:00 pm)
I own one..a 2006 EX automatic sedan and "hoot to drive" isn't one of the terms I'd use. More like stiff over road irregularities, lots of wind and road and/or tire noise, not happy to stay in 5th gear, twitchy steering combined with a tiny steering wheel (some may love this direct feel = "hoot to drive") that causes the car to change direction if you are only thinking about a direction change. It well known I do not like our Honda but without getting into my specific problems with the car I find I like the Elantra better on the face of it simply because it rides better, is larger inside, is quieter, steers and handles less like it is on crack (but well enough and by no means does it feel sloppy) and it does have a whole host of standard features simply N/A on the Honda. Oh, the Elantra is much cheaper than an EX sedan..ours was $19,680 in 2006 and the price has only gone up since then. I should add, before someone else does, that I am partial to Hyundai. Biased, that's me