Are 7th gens holding resale value?
Are 7th gens holding resale value?
I think they are, but are they depreciating at a faster rate than other brands or even other Honda's, now that the 7th gens are developing some history. I checked Kelley Blue Book online for the value of a 2001 with 30k miles and a private party sale is around $9,900 and trade in around $7,800. This is more than a lot of other cars, even some that initially cost more, but is the depreciation rate greater than what Honda's owners have previously expected.
I got $9,000 for my '02 EX coupe 5-spd with 58kmi, last month as a trade in.
I thought it was a fair deal, considering there was something seriously wrong with the front suspension. but I didn't mention that to them...
I thought it was a fair deal, considering there was something seriously wrong with the front suspension. but I didn't mention that to them...
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I was offered 11,500 to trade in my vic with 45K miles (2002 EX) but decided to pay it off and buy the other vehicle straight out. Over all the honda cars are doing better than many others
All vehicles will depreciate. Still hurts even when it's slowly depreciating. But that wouldn't be an issue unless you intend to sell or trade in your car every few years. That's why I believe in owning cars for the long term, I plan to drive my 'vic into the ground.
Nothing works better than a Chris except a Honda.
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Civic's are great! They don't have that many problems compared to other comparable cars, so they'll be up there in the future. Of course, the price will drop when the next gen floods the market and the next gen of cars smaller than the Civic too...
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Originally Posted by BrotherSound
I got $9,000 for my '02 EX coupe 5-spd with 58kmi, last month as a trade in.
I thought it was a fair deal, considering there was something seriously wrong with the front suspension. but I didn't mention that to them...
I thought it was a fair deal, considering there was something seriously wrong with the front suspension. but I didn't mention that to them...

Originally Posted by Roosbok
I think they are, but are they depreciating at a faster rate than other brands or even other Honda's, now that the 7th gens are developing some history. I checked Kelley Blue Book online for the value of a 2001 with 30k miles and a private party sale is around $9,900 and trade in around $7,800. This is more than a lot of other cars, even some that initially cost more, but is the depreciation rate greater than what Honda's owners have previously expected.
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