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I'm thinking about selling my 2009 Civic LX and buying something used in the $5-6k range. I've had the Civic for about 18 months and I like it for the most part, but I never really wanted a new car to begin with. My older Dodge Intrepid was totaled and I needed to find something fast, so when I got a good deal on the Civic, I took it. Anyway, the KBB value is currently about $1,300 less than I paid for it, which means I could sell it, pay off my loan, and have around $6k or so to spare.
If I bought something used, I wouldn't have a payment to worry about and my insurance would go down. So, I'm looking for advice on used cars to consider. Again, something in the $5-6k range that is reliable with good MPG. Or maybe tell me if selling the Civic is just a bad idea to begin with.
Let me get this straight..You bought a new civic and after having it 18 months (you did not say how many miles are on it) you can sell it and only lose 13 hundred? ARE YOU SURE? Ive have never seen this before
Let me get this straight..You bought a new civic and after having it 18 months (you did not say how many miles are on it) you can sell it and only lose 13 hundred? ARE YOU SURE? Ive have never seen this before
There's only 14,000 miles on it and as of yesterday, the private party KBB value was $17,300. The biggest reason is probably because prices for new Hondas are going up since the dollar has depreciated so much against the yen. And of course high gas prices.
kelly blue book sucks, better to use the NADA guide as it gives better information about what cars are worth. in fact dealers dont use KBB any more, they use NADA. if you can sell your honda,and not lose too much money, then go ahead, but remember that any car you buy used will not have a warranty of any kind on it, where as your honda does have the factory warranty.
I can understand your interest in doing this only if you are in dire financial straits and can't afford your car loan.
Otherwise, you're likely to take a bigger financial loss than you are predicting and you'll wind up with a less reliable car than you have now.
In addition, whenever you get done paying off your loan you can look forward to probably at least five years of payment-free driving, with still a very reliable car.
Let's see - that $5K car will be a beater, not a reliable well cared for vehicle. Way more than 100K miles on it, old safety equipment, worn brakes, tires, and shocks.
You have a fine economical and very reliable car now. Find a way to afford it, pay it off, and keep it till it dies.
Let me get this straight..You bought a new civic and after having it 18 months (you did not say how many miles are on it) you can sell it and only lose 13 hundred? ARE YOU SURE? Ive have never seen this before
Civic's hold thier value extremely well, as do most all Honda's. It's called reliability, longevity, and years of satisfied (for the most part) owners. OP, I would keep it. I have an 08 Civic (paid off) and I have 45k on it. Drove from coast to coast. You may regret selling it and I predict it making you a good car for many many years. But if your in a pinch for money then do what you gotta do. I vote KEEP IT
I can understand your interest in doing this only if you are in dire financial straits and can't afford your car loan.
Otherwise, you're likely to take a bigger financial loss than you are predicting and you'll wind up with a less reliable car than you have now.
In addition, whenever you get done paying off your loan you can look forward to probably at least five years of payment-free driving, with still a very reliable car.
Great advice!
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