Last post on Sep 17, 2007 at 1:16 PM
You are in the Honda Civic
What is this discussion about?
Honda Civic, Car Buying, Coupe, Sedan
#6 of 14 Re: Civic: New (2007) or Used? [filod]
Sep 13, 2007 (8:31 pm)
A used car is a gamble however with careful shopping one can do quite well with them. I'd say any of the above cars should be available for between 5-10% below the dealer amount, from a dealer. If it's a CPO with warranty then perhaps close to those prices provided the warranty is a good one.
Buy a new car and 3 years later it's dropped 40% from what you paid for it. Buy a 2 year old car and a year later it's dropped 5-10% from what you paid for it. Cars 1-2 years old are the best value available. They require more care in purchasing than a new one but the financial rewards are much greater.
Sep 15, 2007 (10:06 am)
Thanks everyone for the great info.
If I were to shop for a used car, is 10% off the asking price the average amount I'd be able to knock off the price? Could I get away with more? (I'd probably try even if you guys told me no. Ha!)
Still not sure on the new vs. used route. I saw an ad for Honda of Oakland advertising the 07 LX Sedan at 15995, new. (If they're advertising it for that price, about how much lower do you think they'll go?) They also were offering 0% APR financing on 07's. But I'm not sure if my husband would qualify. (He was at 715, then dropped to 707 I think from the inquiries? It happened overnight. His other two scores are around 690ish.) Worth looking into perhaps.
** Side note: My husband, the cycling fan, does not have a license. Our CU wouldn't approve his loan because of this where he was given a 6.77% rate. They wouldn't take my license # in place either. Now that we have moved, he does plan on getting his license. He'll take the test in the next week and take the driving test shortly after that. In the meantime he will have a permit. We should go back through our CU and get the loan there if we can't get a lower rate elsewhere. While I don't plan on telling them "Hey, it's a permit!" this shouldn't be an issue in order to get the loan, correct? Having a permit vs. license?
Back on topic, I'd feel better about getting more value for the car vs. a cheaper ($) car. But I don't want to get in trouble financially either. Especially after the move and getting adjusted to what our finances will be like out here. I know I will probably have to compromise somewhere, the "where" is what I gotta figure out I guess!
Sep 15, 2007 (4:44 pm)
Does your purchase have to be a Civic or will any late model car do? Still think a slightly used GM product would be a great choice depending on the size of car y'all needed. Don't get me wrong, I love my Civic but I need a car this size due to garage space limitations and I had the opportunity to buy new because of a small inheritance, so $ wasn't a factor in the vehicle I chose. Was very close to buying a Volvo S40 but the price differential was at the top of my "gift" and decided to go cheaper and bank the remaining $14k. And since I've never owned a Honda product, it was a no brainer in my case.
I don't know your whole situation so would need more info to truly give an informed recommendation. A few folks at work have bought year old GM products with plenty of factory warranty left with miles in the teens for very attractive prices, and the cars look absolutely flawless!
Just a suggestion if you need a slightly larger car for family reasons or only want to spend a certain amount of $'s. Keep us posted.
#9 of 14 Re: Civic? [sandman46]
Sep 15, 2007 (5:06 pm)
It doesn't have to be a Civic. I've just heard how long-lasting they can be. I was poking around Edmunds a bit and started checking out a few other cars. (Haven't done in-depth research on any of these yet):
Toyota Yaris & Matrix
Hyundai Accent & Elantra (Kinda "eh" about Hyundai though for some reason.)
We do not need a large car. In fact, I prefer smaller cars. I'll be doing a lot of garage space and street parking and don't want to have to park a beast.
Haven't looked into GM cars yet. I'd love to hear what you might recommend though. And just how do warranties work on used cars anyway? If it's a newer used car, do you just get whatever is left over on the factory warranty? If it's an older used car, does the dealership include some sort of warranty? What is the standard?
Sep 15, 2007 (5:31 pm)
The wife drives one of these and really likes the car. The entry price isn't to bad either. The Hyundai Elantra is another good car for y'all to check out. Mucho features for a very reasonable price makes this car one that should fit you guys to a tee.
The year old GM cars will have some manufacturers warranty left for sure. And if they are CPO'd, even more warranty but you will pay a bit higher price for CPO'd units. One guy got a smallish Buick Lacrosse which would be a nice choice also. Not that much bigger than the Civic and much more comfortable seats in my opinion. True the mpg's will be slightly less, but the comfort levels and excellent a/c will put a smile on your face. For some reason, American cars have a/c that literally blows the foreign brands out of the water. Don't know why either.
Off leased units will also be a good choice as most are reconditioned at the terms end by the dealers and they have higher standards backed by the manufactureers(?). So you do have many excellent choices to pick from. just take your time and make sure you are comparing apples to apples with your search.
Good luck and have some fun also. Remember that this is a purchase that you will live with for a good bit of time so put in the required effoert to make the most educated decision possible. Keep us posted.
#11 of 14 Re: Mazda 3 [sandman46]
Sep 15, 2007 (7:35 pm)
CPO'd? I'm not familiar with this. What do you mean? Like a certified used car?
And I'm not following you on the off leased units. Are you referring to cars people leased that are now back at the dealership?
I swear I'm not an idiot. Hehe. I just don't know some of this car stuff. But, hey, I'd be an idiot not to ask.
Regardless, looks like my car options are a lot bigger than I originally thought. I have a lot of research to do it seems. I'll keep you posted!
#12 of 14 Re: Mazda 3 [cali_driver]
Sep 15, 2007 (9:37 pm)
CPO = Certified Pre Owned. I doubt they will do much with the 15,995 car since that's already a money loser. Unless something has changed, the 0% is only on v6 Accords. At least it was that way when I got my Civic a month ago.
#13 of 14 buying a 2005 Honda Civic LX 4dr. Sedan Nighthawk Pearl this week
Sep 17, 2007 (11:28 am)
Am buying a 2005 Honda Civic LX 4dr. Sedan Nighthawk Pearl this week - about 26,500 miles on it from a NY Honda dealer
Total is 11,290 - with taxes. 10,900 for the car.
Looked at carfax report online - paid for it myself. Looks clean.
Is this a good deal?
Also - this car is not certified.
They said they can tell me how much to get it certified. And how much an extended warranty would be if I didn't get it certified.
What is a good amount to pay for certification? Would $1000 be about right? I just don't want to overpay. And I am on a budget
#14 of 14 Re: buying a 2005 Honda Civic LX 4dr. Sedan Nighthawk Pearl this week [butt
Sep 17, 2007 (1:16 pm)
I'd rather have an extended warranty than certification. The certification isn't going to pay to fix anything that goes wrong. It is some comfort that nothing should but if/when it does it's your nickel. The warranty supplies the nickel. ymmv