GLHF1349

Hello. I am looking into a Civic. I initially thought I would purchase a 2010 or newer used civic. Once I started looking, I noticed new civics were very close to the list price of the used ones. I asked the dealer why this was, because I had always been told "never buy new" "a new car loses 20% of its value the moment it leaves the lot" etc. He said how Honda has a high resale value for various reasons and buying new may really be the smartest move. Being the cynical me, I of course don't trust the dealer... but what he was saying does appear to be true.

Long story short, can a new Civic really be the economical buy? Or should I go for used? What costs the least in the long run? Thanks!

CraigW

iTrader: (1)

My last 2 have been new 05 & 10 4 dr LX. It is nice when you get it to a $$ # that you know you could get if needed to sell for some reason. I'm around $5200 at this point in time and the low financing rate through AH is great.

clinton_hedrick

If you are planning on getting a loan, sometimes buying new can get a good interest rate on the loan as compared to getting a loan through a bank for a used one. That can make a difference too.

ezone

Certain cars retain tremendously high resale values for a good reason.

Certain cars depreciate incredibly rapidly for a good reason.

Past performance is not an indicator of future returns, but this is what determines resale values.




Consider total money, not just payments. A super low interest rate on a new car loan may easily be cheaper in the long run than a used car with a higher interest rate loan.

Plus, the new car comes with the full warranty.

patm95

When I was researching my car, I ultimately decided on buying a new car if it was a Honda or a used car if it was anything else. Basically because the resale value of the Honda was so good, it didn't make sense for me to buy used if it was a Honda.

mdwsports

What costs the least in the long run depends on condition of the used car that you buy (if still under warranty, how it was treated by previous owner, your driving tendencies, etc.). New cars are obviously nice, untouched, and you're the first to drive it and the upkeep and care depends solely on you. Personal preference really.

If you're in the market for a used civic SI, I will be selling mine shortly. 2009 black coupe with 26,000 miles located in NY.