Automotive

Is this a good deal for a used 2012 Honda Civic LX Sedan?

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  • Oct 4th, 2012 1:45 pm
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Just get one brand new. The cash purchase price on an LX is $18,900. So you are essentially saving nothing.
And if you are financing, the rate through honda is 1.99%, to get a used car loan from a bank you are easily looking at about 8% or so. So it would actually be much cheaper for you to buy new.

And 45k kms is a lot. That is over 2 years worth of driving for the typical person. He is out to lunch if he thinks he is getting $18k for her.
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As most folks have pointed out, you can probably get a brand new LX for roughly the same price including the protection package. Plus Honda is clearing out their 2012 inventory so you can probably get some more discounts and negotiate more at the dealership, and Honda is throwing in a $500 gas card too on most new 2012 purchases I think.

I'd also call and get some insurance quotes and see if there is any difference on a new 2012 Civic LX and used 2012 Civic LX.
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shuffler wrote:
Oct 3rd, 2012 12:02 am
I don't understand how anybody in the right mind would want to sell a car they just bought last year, given there is a huge depreciation after driving away from the new car dealership. They are losing a whole lot of money there... and a child coming? It's not exactly a mini/coup car so unless he's super rich and doesn't care something doesn't add up.
I leased a brand new 2012 Civic EX sedan last year. Got bored of it after 4 months and had someone take over the lease. Total lost was $265 x 4 months + half of transfer fee which was $200 for me. So just over a thousand bux to drive a brand new car for a few months. I know what you mean though as my case was an exception. If you bought a higher end car with cash and tried to sell after 4 months you'd be losing a ton of money.
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aleks wrote:
Oct 3rd, 2012 9:57 am
I leased a brand new 2012 Civic EX sedan last year. Got bored of it after 4 months and had someone take over the lease. Total lost was $265 x 4 months + half of transfer fee which was $200 for me. So just over a thousand bux to drive a brand new car for a few months. I know what you mean though as my case was an exception. If you bought a higher end car with cash and tried to sell after 4 months you'd be losing a ton of money.
You probably didn't rack up 45000km though.
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aleks wrote:
Oct 3rd, 2012 9:57 am
I leased a brand new 2012 Civic EX sedan last year. Got bored of it after 4 months and had someone take over the lease. Total lost was $265 x 4 months + half of transfer fee which was $200 for me. So just over a thousand bux to drive a brand new car for a few months. I know what you mean though as my case was an exception. If you bought a higher end car with cash and tried to sell after 4 months you'd be losing a ton of money.
What service if any did you use to get out of your lease? And how painless was it?

I have a '12 EX for $266 as well. May be looking to get out of it for the new Accord in the near future.
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shuffler wrote:
Oct 3rd, 2012 12:02 am
I don't understand how anybody in the right mind would want to sell a car they just bought last year, given there is a huge depreciation after driving away from the new car dealership. They are losing a whole lot of money there... and a child coming? It's not exactly a mini/coup car so unless he's super rich and doesn't care something doesn't add up.
Actually, the seller in this case would hardly be taking a loss. Like others said, the LX could be had for $20,500K OTD. Seller would be making out like a bandit especially after having racked up 45K in less than a year.
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vg19 wrote:
Oct 3rd, 2012 8:24 am
My brother bought a demo (10k kms) civic EX from a Honda dealer for 16.5k plus tax. 18k for a LX is way too much. Remeber you have to pay full tax on a user car purchase as well!
if you buy private its 1 tax no? although that 1 tax is still pretty high for us here in quebec :(
poedua wrote:
Oct 3rd, 2012 8:40 am
If you have a ' new ' set of new winters and 4 new mags with sensors and a set of summer tires - that can add up $ wise to buy new for yourself - so, $18k may be worth it....though I'd be leaning closer to $17k ( remember, 45,000 k is 2 years worth of normal driving )

You may want to see how much tread is left on the summer tires though.
The winter tires for sure we would need to buy, wether we need them mounted on some rims i am not sure. rust proofing and car starter is a must also. so its really window tinting that we might not have payed for. i'll see if we can talk it down a bit.
thrifthunter wrote:
Oct 3rd, 2012 9:24 am
Just get one brand new. The cash purchase price on an LX is $18,900. So you are essentially saving nothing.
And if you are financing, the rate through honda is 1.99%, to get a used car loan from a bank you are easily looking at about 8% or so. So it would actually be much cheaper for you to buy new.

And 45k kms is a lot. That is over 2 years worth of driving for the typical person. He is out to lunch if he thinks he is getting $18k for her.
Winkle wrote:
Oct 3rd, 2012 9:53 am
As most folks have pointed out, you can probably get a brand new LX for roughly the same price including the protection package. Plus Honda is clearing out their 2012 inventory so you can probably get some more discounts and negotiate more at the dealership, and Honda is throwing in a $500 gas card too on most new 2012 purchases I think.

I'd also call and get some insurance quotes and see if there is any difference on a new 2012 Civic LX and used 2012 Civic LX.
good points im definitely passing by some honda dealers this friday to see what kind of promos i can get. i was always anti buying a new car since u loose so much of the value as soon as you drive off with it but if the specials are good enough i might.

i might also look into any other equivalent cars. we don't definately need a civic either we just wanted a car that would last us ages with little to no maintenance. We don't usually buy a car and sell, we drive it till it dies lol (we don't drive a lot either ~110km in 8 yrs)

Thanks for all the tips everyone much appreciated. keep it coming :)
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In my opinion it's not a good deal. A brand new LX can be had for about 18k. A set of good winter tires on a separate set of rims can be bought for under $1,000 new, even less used. Even the best tint is like $300 and the 5-year extended warranty you can negotiate with the purchase price (on-the-road package). So bottom line I don't think this car is worth 18k, especially since a refresh is coming for 2013 and dealers will be offering great deals on remaining '12 inventory.
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macalin wrote:
Oct 3rd, 2012 10:17 am
Actually, the seller in this case would hardly be taking a loss. Like others said, the LX could be had for $20,500K OTD. Seller would be making out like a bandit especially after having racked up 45K in less than a year.
That's my point. IF this is a fair deal, then he is losing money, due to new_to_used depreciation. So I was saying assuming you get a good deal, why is he selling at such a big loss? Unless... there's something else wrong.

But 18K lol what a friend indeed. He's trying to get rid of a car he bought for 19K for 18K, effectively driving a new car for 45000 km all for $1k!
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shuffler wrote:
Oct 3rd, 2012 12:47 pm
That's my point. IF this is a fair deal, then he is losing money, due to new_to_used depreciation. So I was saying assuming you get a good deal, why is he selling at such a big loss? Unless... there's something else wrong.

But 18K lol what a friend indeed. He's trying to get rid of a car he bought for 19K for 18K, effectively driving a new car for 45000 km all for $1k!
i don't think he bought it for 19k over a year ago. on the honda site right now i'm getting 20k cash price with 5yr warranty + protection package, and im sure prices went down in a year.

either way im definately going to a honda dealer this week to ask whats the best they can give me, and then add up the costs of the essentials and i need and then compare.
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Voltex wrote:
Oct 2nd, 2012 11:59 pm
LOL 18K........

Brand new 2012s were going for 20k a couple months back, so I'm sure it costs even less now since it's on clearance. Your "friend" is ripping you off
This.
the watcher wrote:
Oct 3rd, 2012 12:06 am
even with the extras it doesn't make sense at all?

he is pretty well off i would say.
but from what i get from what u said is that he is loosing a lof money selling at that price so I AM getting a good deal? or not? :S
What we mean by losing a lot of money is that after you take delivery of a new car, you lose at least 40% right off the lot. Even, if you have very little kms on it. 18K for a half-of-hundred thousand km Civic is NOT a good deal at all. I just priced a 2012 Civic LX sedan with the factory protection pack and factory remote starter package. OTR MSR price including taxes and freight is 20K. Local dealers will sell for less since its the end of the year with a refresh coming in 2013. Your friend is either dreaming or trying to rip you off.
the watcher wrote:
Oct 3rd, 2012 1:28 pm
i don't think he bought it for 19k over a year ago. on the honda site right now i'm getting 20k cash price with 5yr warranty + protection package, and im sure prices went down in a year.

either way im definately going to a honda dealer this week to ask whats the best they can give me, and then add up the costs of the essentials and i need and then compare.
Do it. Go to the dealer, ask them to give you their best price (and remember to negotiate upwards from invoice, not down from MSRP or what the Honda.ca website tells you). Tints are around 200-400 for the better ones, you can get the protect pack and factory remote starter from Honda (I dislike aftermarket remote starts since they temper with your security system and may void warranty, depending on manufacturer) , you can probably get the dealer to throw in oil changes as well, the summer tyres are likely at or past half of their lives at 45k, and rust proofing means he has only done it ONCE. you have to rustproof it per 1 or 2 years. IMO, your friend's car is worth about 14-15k all in. I wouldn't pay anything more for his particular car AND I would only consider it after giving it a full inspection.


Also, I see you mentioned winters mounted on Civic mags. LX doesnt come with alloy wheels, do you mean steelies? Or did he get some alloy wheels from somewhere?
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macalin wrote:
Oct 3rd, 2012 10:15 am
What service if any did you use to get out of your lease? And how painless was it?

I have a '12 EX for $266 as well. May be looking to get out of it for the new Accord in the near future.
I put it up on kijiji. Ad said "$265/month tax in 0 Down!"
Basically was gone in 2 days, guy never even test drove it. But I only had 4500kms on it and it still smelled new. What I had going in my favour was I got 1500 off MSRP due to their promotions back then. Currently to get the same car it's over $300/month.
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garyhudson wrote:
Oct 3rd, 2012 1:47 pm
This.



What we mean by losing a lot of money is that after you take delivery of a new car, you lose at least 40% right off the lot. Even, if you have very little kms on it. 18K for a half-of-hundred thousand km Civic is NOT a good deal at all. I just priced a 2012 Civic LX sedan with the factory protection pack and factory remote starter package. OTR MSR price including taxes and freight is 20K. Local dealers will sell for less since its the end of the year with a refresh coming in 2013. Your friend is trying to rip you off.



Do it. Go to the dealer, ask them to give you their best price (and remember to negotiate upwards from invoice, not down from MSRP or what the Honda.ca website tells you). Tints are around 200-400 for the better ones, you can get the protect pack and factory remote starter from Honda (I dislike aftermarket remote starts since they temper with your security system and may void warranty, depending on manufacturer) , you can probably get the dealer to throw in oil changes as well, the summer tyres are likely at or past half of their lives at 45k, and rust proofing means he has only done it ONCE. you have to rustproof it per 1 or 2 years. IMO, your friend's car is worth about 14-15k all in. I wouldn't pay anything more for his particular car AND I would only consider it after giving it a full inspection.


Also, I see you mentioned winters mounted on Civic mags. LX doesnt come with alloy wheels, do you mean steelies? Or did he get some alloy wheels from somewhere?
thanks for the awesome tips and insight. how do i figure out the invoice price that i will negotiate up form? is there a site that states them?

Sorry yea maybe steelies, i know he mounted winter tires on the default rims and then bought new mags for the summer tires.
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garyhudson wrote:
Oct 3rd, 2012 1:47 pm
What we mean by losing a lot of money is that after you take delivery of a new car, you lose at least 40% right off the lot.
LOL says who?
You can barely get an 09 civic for 40% off!

What you will lose if for some strange unforeseen reason you need to sell immediately is the taxes, and probably $1500 more on top of that or so. But you'll also lose the taxes you paid on a used car as well.

But what a car will sell for right off the lot is only relevant if you actually NEED to sell it right off the lot. And that happens how often do you think? Very very extremely rare I say! So rare that I have never heard of it happening to somebody first hand before.
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thrifthunter wrote:
Oct 3rd, 2012 3:09 pm
LOL says who?
You can barely get an 09 civic for 40% off!

What you will lose if for some strange unforeseen reason you need to sell immediately is the taxes, and probably $1500 more on top of that or so. But you'll also lose the taxes you paid on a used car as well.

But what a car will sell for right off the lot is only relevant if you actually NEED to sell it right off the lot. And that happens how often do you think? Very very extremely rare I say! So rare that I have never heard of it happening to somebody first hand before.
Try to sell a new car at $1500 loss. I dare you.

No way in hell will anybody who's already investing $18-20k will not cough up an extra $1500 to go for the new version. No way. There is risk with any used car, and that risk is offset by the depreciation. I would say $14-15K is far closer to the real price, especially with 45K on it.

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