Last post on Nov 12, 2013 at 7:37 AM
You are in the Hyundai Elantra
What is this discussion about?
Hyundai Elantra, Sedan
Mar 12, 2003 (9:06 am)
I just checked KBB.com for the trade in value for a 5 year old 1998 Elantra GLS automatic with 60K miles in "good" condition equipped like a Civic LX automatic and it came out to about $3710. Private party value was about $5030.
The Civic LX automatic with the same miles and condition was about $6,765. Private party value was about $8,080.
Carsdirect has new 2003 Civic LX automatics in my area for a little under $15400.
A 2003 Elantra GLS automatic with the accessory group 2 goes for about $12900 at Carsdirect in my area minus the current $1500 rebate making the cost about $11,400. So, in the case it does look like the I would be ahead despite there potentially being about $3000 difference in resale value.
The $1500 rebate makes the difference. If there was no rebate, you would still be ahead spending the extra money on the Civic. Of course, if you either buy the extended warranty on the Civic or pay some out of pocket repair costs between the end of the 36,000 miles Honda warranty and the 60,000 mile point, the cost savings from the Elantra gets wider.
If you do not buy the extended warranty on the Civic and you also have little or no repair costs before 60,000, it could be possible that the Honda could cost less after factoring in fuel savings and the added private party resale value.
It looks like the only way you would be sure that the Hyundai came out cheaper in the long run is if you kept it to 100K miles. The older the cars get, the smaller the resale differential between the Civic and Elantra gets, plus you have the powertrain warranty till 100K miles on the Hyundai.
#3502 of 5569 the way your thinking
Mar 12, 2003 (9:32 am)
the way you are talking you might as well add the difference on the money you gain on interest for the 3-4k you save not spending it in the first place since you are doing all the #'s . also the 98 elantra was a totaly different car also no where near as nice as the new models . the new models are night and day different .
Mar 13, 2003 (5:35 am)
You've been pretty thourough with the financial part. The best thing to do now is to drive the Civic and then drive the Elantra and see which one best meets your needs.
I also bet if you negotiate a little, you may be able to buy the Elantra for a little less than carsdirect.
Resale is tricky. As ziglifler points out, the current Elantra is getting many accolades which may move its resale value up in the coming years. In addition, the current Civic hasn't been as "desireable" as previous models which could negatively affect resale.
It's tough to predict what a car will be worth sometime in the future since no one can predict it with any sort of certainty.
I don't know what the MPG is for the Civic, but I know my son is averaging about 30MPG in mixed driving.
#3504 of 5569 resale value
Mar 13, 2003 (10:13 am)
The resale value at best its only an estimate. I agree with graphicguy, as elantra and hyundai cars in general gets more accolades, the resale value will only increase in the future. The one also has to remember, you are not selling or trading your vehicle to kelly blue book, edmunds, or any of other numerous on line webistes.
#3505 of 5569 Resale...
Mar 13, 2003 (10:56 am)
Can one use the price of used Elantras as a guide for resale value of the 2001+ models? A friend of mine was about to get an 01 Elantra automatic with 23K miles on it (if I remember correctly, it's been a couple months), and the price on the car was $7995.
He ended up getting an Echo because he said he liked the way the car 'felt' better. Okay, whatever...
#3506 of 5569 wish it were easier
Mar 13, 2003 (12:27 pm)
I wish it were easier to come up with a "fair value" for resale, but that's next to impossible.
I've bought and sold many cars, both new and used. When trading-in at a dealer, for example, no matter what guide I've used (KBB, Black Book, the yellow NADA guide) none of them are accurate according to the dealer. The dealer has always said that the guides I used were always inaccurate (too high).
Whenever I've sold to private owners, I've never been able to get what I thought was the "going rate" according to the "guides".
A car is worth what any individual is willing to pay.
#3507 of 5569 Graphicguy...
Mar 13, 2003 (12:46 pm)
I checked KBB about my last car before trading, and was surprised when the dealer offered $1000 more than KBB said...
The car before that was dead on KBB's price, which I was shocked by as well.
Mar 13, 2003 (1:35 pm)
I must not be very good at selling or trading. Maybe I always think my cars are worth more than they really are. Or maybe, I negotiate so hard on the new car, the trade-in becomes less "valuable" to the dealer. I always negotiate the new car and then talk about the trade-in. I always keep them as to seperate transactions.
#3509 of 5569 More headlamp problems...
Mar 13, 2003 (1:38 pm)
burned out the drivers side bulb (H7) for the second time in 35K. This will be six h7's plus a replacement for the H1 (had the battery out). This is covered under the warranty but I wonder whether it's worth checking the car into the dealer for a lamp. This is the weak link in the whole car as far as I'm concerned. Certainly no big deal, but wish they had used a more standard, cheaper lamp.
Mar 13, 2003 (1:46 pm)
If you're burning out that many lamps, you should definitely take the car in for the problem. It could be an electrical problem that's causing the lamps to burn out.