Automotive

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

  • Last Updated:
  • Oct 4th, 2012 1:45 pm
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Oct 2, 2012
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for that price i would buy new OR try and bargain with your friend. 45kms is a lot for only being a year old. Offer 15k
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shuffler wrote:
Oct 3rd, 2012 4:22 pm
Try to sell a new car at $1500 loss. I dare you.
LOL and why would I do that?
I like my money and $1500 is quite a bit.
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May 12, 2012
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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.
Says reality. Welcome to the real world.

How much you have to pay to buy a 2nd hand car DOES NOT EQUAL how much you can get when you sell that exact 2nd hand car. And I hadn't even brought up the taxes yet. When I say you lose 40% right off the lot, I mean your car's value is already gone by 40% by the most optimistic evaluation. Your selling price can only go DOWN from there, not up.
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garyhudson wrote:
Oct 3rd, 2012 4:50 pm
Says reality. Welcome to the real world.

How much you have to pay to buy a 2nd hand car DOES NOT EQUAL how much you can get when you sell that exact 2nd hand car. And I hadn't even brought up the taxes yet. When I say you lose 40% right off the lot, I mean your car's value is already gone by 40% by the most optimistic evaluation. Your selling price can only go DOWN from there, not up.
Losing 40% in immediate depreciation is an urban myth.

Based on the $19,000 price many have quoted, show me one for $11,400. :facepalm:
http://www.autotrader.ca/a/pv/Used/Hond ... c2012&st=1
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Aug 14, 2007
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Better off getting a barely used 2010/2011.

Got my 2010 civic ex-l (has everything except navigation) and is 5spd manual for 17,000 taxes in, I put down $5000 so only owed $12,000. My monthly payment is only 220 and I pay it bi weekly and barely notice it off my pay.
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garyhudson wrote:
Oct 3rd, 2012 4:50 pm
Says reality. Welcome to the real world.

How much you have to pay to buy a 2nd hand car DOES NOT EQUAL how much you can get when you sell that exact 2nd hand car. And I hadn't even brought up the taxes yet. When I say you lose 40% right off the lot, I mean your car's value is already gone by 40% by the most optimistic evaluation. Your selling price can only go DOWN from there, not up.
In the real world, you'd be lucky to get an 09 civic at 40% off like I said, let alone a 2012.
But amuse me, show me a brand new, just driven off the lot 2012 for 40% off..

You won't be able to for two reason:
1) It is ultra rare for somebody to sell so soon and
2) You won't get it for anywhere near 40% off, unless it was in an accident.

But hey if you are ever selling a new car, let me know. I'll be happy to give you your valuation!
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thrifthunter wrote:
Oct 3rd, 2012 5:49 pm
In the real world, you'd be lucky to get an 09 civic at 40% off like I said, let alone a 2012.
But amuse me, show me a brand new, just driven off the lot 2012 for 40% off..

You won't be able to for two reason:
1) It is ultra rare for somebody to sell so soon and
2) You won't get it for anywhere near 40% off, unless it was in an accident.

But hey if you are ever selling a new car, let me know. I'll be happy to give you your valuation!
Reading comprehension failure. You get 0 marks for this answer. Please read the statement again.
garyhudson wrote:
Oct 3rd, 2012 4:50 pm

How much you have to pay to buy a 2nd hand car DOES NOT EQUAL how much you can get when you sell that exact 2nd hand car. And I hadn't even brought up the taxes yet.
I am borrowing this from afretes just for illustrative purposes. Please note table no. 1:
afretes wrote:
Oct 2nd, 2012 6:38 pm
2012 and 2013 VW October Rates and Residual Value Tables

[IMG]http://i18.photobucket.com/albums/b120/ ... 74ee99.jpg[/IMG]

[IMG]http://i18.photobucket.com/albums/b120/ ... 832ead.jpg[/IMG]
12 months: 59%/58%/60%, most of them are =/< 60 %, only a few are in the low 60s.

Even for 2013 MY, the residual values are in the 60s-70s.

Here's the thing:

If you actually try to reconnect all the nerves between your body and your head, you might be able to use that oxidized broccoli inside the skull and start talking with your mouth, not out of your rear.
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garyhudson wrote:
Oct 3rd, 2012 1:47 pm
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?
+1

Upon further reflection, with the winter tires, mags, sensors & 2 years worth of kms taken into consideration...I'd put it at about $15,000..max
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shuffler wrote:
Oct 3rd, 2012 7:29 pm
Don't worry, you won't be able to at $1500. Try $5000

http://www.autotrader.ca/a/Honda/Civic/ ... po=ShowCPO

[IMG]http://s12.postimage.org/sg6nqz58d/car.png[/IMG]
I just priced a LX in Canada, its 22,230 OTR tax included.

40% off = 13338. So the 15950 price is about right because you have to add the dealer's profit margin. I guess the dealer got this Civic for about 12k-13k.
[OP]
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ok so i just came back from a honda dealer.
I was quoted, with a 1500$ honda discount, 22,600$ OTR. He said he has some wiggle room so about 22,000$ he said. I'm sure i can talk it down a bit more an another dealer, but lets use that number.
So from my friend i can get it i calculated 19300$ all in.
Difference of ~2700$.

So here is the comparative of getting it used
PROS
+ 2700$
+ set of winter tires 1 season old
+ set of dei mags
+ rusproffing treatement
+ window tining
+ honda protection package
+ compustart starter

CONS
- 45,000km
- loose 1 yr warranty

Another way to look at it is the things i really need (winter tires, car starter, rustproofing, protection package) will be say an extra 2k on top of the new car. so new car will run me about 24,000$.
what to do, what to do...
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garyhudson wrote:
Oct 3rd, 2012 7:45 pm
I just priced a LX in Canada, its 22,230 OTR tax included.

40% off = 13338. So the 15950 price is about right because you have to add the dealer's profit margin. I guess the dealer got this Civic for about 12k-13k.
That OTR price is not even close. Others have already mentioned the price, they are around 18k-19.
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It really boils down to whether you want to shell out the extra cash to buy the new car. The factory car starter and protection pack is about 1K MSRP on Honda.ca, you can probably get some more discount for these and get the dealer to throw in oil changes and rust proofing/tinting.

If you are set on buying a 2nd hand Civic, my advice is your friend's Civic isn't the car you want, not unless the price is at 14-15K. Since I doubt he will be willing to go so low, you might have to look elsewhere.


does anyone have the invoice price of 2012 Civic LX for OP's reference?
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the watcher wrote:
Oct 3rd, 2012 8:37 pm
ok so i just came back from a honda dealer.
I was quoted, with a 1500$ honda discount, 22,600$ OTR. He said he has some wiggle room so about 22,000$ he said. I'm sure i can talk it down a bit more an another dealer, but lets use that number.
So from my friend i can get it i calculated 19300$ all in.
Difference of ~2700$.

.
Go to the Canadian Black book site as see what a 2012 civic lx sedan, automatic with ~45k km wholesale MAX ( = mint, mint, close to showroom condition ) ' trade in ' value might be.

http://www.canadianblackbook.com/

To this, add the 50% ( for a ' used fmv ' ) of the value for winter tires, sensors, mag wheels.....the rustproofing treatment,window tinting, honda protection package & compustart starter are irrelevant IMO.

I suspect the total value you come up will be be much, much lower than $19,300....or as garyhudson alluded to, probably closer to $14k - $15k.. ;)
" The placebo effect is the most powerful supplement of all "
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" The best training in the world can't overcome a lousy diet "
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the watcher wrote:
Oct 3rd, 2012 8:37 pm
So here is the comparative of getting it used
PROS
+ 2700$
+ set of winter tires 1 season old
+ set of dei mags
+ rusproffing treatement
+ window tining
+ honda protection package
+ compustart starter

CONS
- 45,000km
- loose 1 yr warranty
Can't look at it like that for the warranty, it's up to 5 years or 100,000 km on the odo whichever is reached first. Your buddy's already put 45,000km on the car and have already used up about half the warranty. It's not loosing a year unless you're only going to put 10,000km or less a year on the car for the next four years.

Also, call a few more dealers. It's even worthwhile to drop by one or two in person and speak to the sales people face to face as sometimes they may get you further. The protection package you can probably talk them into throwing it in for you for free, because it's just floor mats, trunk liner and mud flaps, all high-profit margin plastic items that costs the dealership almost nothing.
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