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Smart Shopper Smart Shopper-Archives Depreciation: Foreign vs Domestic Vehicles 
70 messages, Last post on Jul 24, 2007 at 9:30 AM
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Replying to: blueiedgod (Jul 19, 2007 3:49 am) Well, I would have to question your numbers a bit. But, I agree that it wasn't a wise finacial decision for your girlfriend to sell her Focus. She should have held onto it for another 3 or 4 years. I have one for you though: 8 year old Olds Cutlass Supreme: Paid $1,500...owned 7 years... sold it for $750. $1,500 - $750 = $750 for 7 years depreciation. Not to bad for a domestic huh?  Was a very nice car when I bought it, not so good when I sold it.
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Replying to: blueiedgod (Jul 19, 2007 3:49 am) You claim that you bought a 2002 civic for 14500 and traded it in 3 years later for 12500. A car that does a very good job of holding it's value should be at about 50% of what you paid in 3 years. If a dealer gave you 12500 for it and intended to resell it, they would have to add a shop fee of at least $500 to the cost. Add that to the standard dealership pack, and you would have about 13900 as the lowest amount they could sell it for to brake even. They would then have to find a sucker, or I mean customer willing to spend $14000 on a 3 year old car that they could buy new for 14500, just like you did. With this logic, If you would have leased the civic, your lease payment should have been around 65 bucks a month, assuming you paid your taxes. If your information concerning resale is true, Honda financial is REALLY taking advantage of the good ole American consumer. My conclusion is this: Either your friendly Honda dealership really rang your bell on your CRV purchase, or we're being just a bit misleading with our little parable. I'm thinking it's the latter. Which Honda dealer do you work for, BTW?
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Replying to: jipster (Jul 19, 2007 4:41 am)
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Replying to: advequityguy (Jul 19, 2007 9:34 am) While I would not do it, there are a lot of Ford Focus sold for $15k or more. The sticker on a fully loaded top-end model is $17.6k when I last entered a Ford dealership ... and that would be one of the WORST new car purchases.
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Replying to: jlawrence01 (Jul 19, 2007 12:36 pm)
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Replying to: advequityguy (Jul 19, 2007 12:42 pm) |
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Replying to: blueiedgod (Jul 19, 2007 3:49 am)
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Replying to: metro123 (Jul 19, 2007 4:22 pm) I doubt Honda had that much in incentives on the Civic back then although I suppose it is possible since the SI hatchback was a very unloved vehicle. CIVIC SI MSRP |
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Replying to: advequityguy (Jul 19, 2007 9:33 am) Yes, my Si was listed on the dealer's website for $15,000 within 3 days. I assume they sold it for $14,000, it was gone from the lot a week later, when I went to check on her. I almost always buy my Hondas when Honda has "marketing incentive." Right now Accord is a great buy, since with the incentive it is cheaper to buy a brand new Accord than it is to buy a 3 year old used one. I bought the CR-V for $20,500, which is about $500 over dealer's cost after you factor in the "marketing incentive" Honda had on the CR-V at the end of March of 2005. As to the Focus, the deal was either to take the rebate or get 0% financing. She chose Financing. We are not talking today, this was all done in 2002, when Ford was not in deep red as it is now. |
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Replying to: jipster (Jul 19, 2007 4:41 am) I have one for you though: 8 year old Olds Cutlass Supreme: Paid $1,500...owned 7 years... sold it for $750. $1,500 - $750 = $750 for 7 years depreciation. Not to bad for a domestic huh? Was a very nice car when I bought it, not so good when I sold it. I have a better one. Circa 1995: Bought a 1985 honda Civic DX hatchback for $1,500. It had 200,000+ miles on the clock. Drove it for 3 years, sold it for $1,600 with over 250,000 miles. $100 APPRECIATION in 3 years. |
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