Am I nuts for considering a swap of my 06' TSX for an 07' Civic?
09-20-2006 | 04:32 PM
#41
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From: Chicago
Originally Posted by mrgold35
Hey, they are both Honda engines. A mute point. If you were going to talk long term engine reliabilty with an American car, we would be all over that like flies on shit.
09-20-2006 | 04:52 PM
#42
Just dial 1911
Joined: May 2004
Posts: 12,144
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From: San Diego, CA
Originally Posted by mrgold35
Hey, they are both Honda engines. A mute point. If you were going to talk long term engine reliabilty with an American car, we would be all over that like flies on shit.
09-20-2006 | 05:42 PM
#44
04 remembrance
Joined: Jun 2002
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From: NJ
It seems like you want to buy a practical car that needs little attention. I say sell your car privately (since you're not in a hurry), and purchase the 06 Civic for a discounted price. I'm pretty sure some of them will still be in the dealer lots after couple of months. That would acheive the higher MPG you're looking for and achieve the satisfying state of being indifferent towards the condition of your car (to some extent).
Or, you could just keep the TSX and drive a vehicle that's more suitable for your age, enjoy the semi-luxury interior, better looking exterior, enjoy Acura service, etc.
Or, you could just keep the TSX and drive a vehicle that's more suitable for your age, enjoy the semi-luxury interior, better looking exterior, enjoy Acura service, etc.
09-20-2006 | 05:58 PM
#45
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There was an article on MSN a few days ago - unfortunately I don't have the link - in which the author was taking about depreciation of new cars. The author's opinion is that the first two years are the highest for depreciation and from year 2-5 it doesn't depreciate nearly as fast and year 5 onward, the depreciation rate increases. If I were you, I would wait till it is at least 2-2.5 years old before selling it, especially considering that you're not putting that many miles on the car.
09-20-2006 | 06:27 PM
#46
John Starks - The Dunk
Joined: Sep 2003
Posts: 1,741
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From: NYC
I personally don't think you should do it. The TSX is a great car, and will be around for many years to come because like you stated, its a Honda!
If you trade in now, you are likely going to lose ~$5k, just for having it the short time you did. This will in turn make your $19.5k civic close to what you are paying for the TSX, without any of the nice luxury items. I think over the long run you will make out better by keeping the TSX since you already bought it. The maintenance is not that much, and I think it will last just as long as a civic.
If you trade in now, you are likely going to lose ~$5k, just for having it the short time you did. This will in turn make your $19.5k civic close to what you are paying for the TSX, without any of the nice luxury items. I think over the long run you will make out better by keeping the TSX since you already bought it. The maintenance is not that much, and I think it will last just as long as a civic.
09-20-2006 | 06:40 PM
#47
17781708
Joined: Mar 2005
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From: The Yay Area, CA
In my opinion like everyone has said, trading in your '06 for and '07 is nuts.
But if you're set on gettin "rid" of the TSX then I'd say sell it privately, since it's practically still new. Pay off your remaining loan to Honda or whomever you took the loan with. Take any "profit" from the sale and buy a used car.
Or, buy a good used car now (why not previous gen civic or used '06), so in the meantime you wont put anymore mileage on the TSX, and sell it privately and break even with the bank or Honda. No more car payments and good gas mileage.
Done.
But if you're set on gettin "rid" of the TSX then I'd say sell it privately, since it's practically still new. Pay off your remaining loan to Honda or whomever you took the loan with. Take any "profit" from the sale and buy a used car.
Or, buy a good used car now (why not previous gen civic or used '06), so in the meantime you wont put anymore mileage on the TSX, and sell it privately and break even with the bank or Honda. No more car payments and good gas mileage.
Done.
09-20-2006 | 07:00 PM
#49
Instructor
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From: Atlanta
Originally Posted by Tigerriot
It's not buyer's remorse, as much as it is simply the practical side of me finally waking up to the fact that I just bought a $28,000 car. I had never paid more than a few thousand for a car before that.
Now i've owned the $28,000 car for a few months and i'm constantly watching it get beaten up by the harsh driving enviornment of the Chicagoland area. I can't even imagine how things are gonna be during the harsh winter months with snow/salt becoming a daily reality.
I'm just becoming a very frugal and practical consumer every day. I realize that having the most expensive option, isn't always the best one. That pouring more money than you have to into a greatly depreciating asset isn't as fun as it seems.
The TSX is awesome, I have no doubt about that. I like just about everything about it. But i'm just not so sure it's the car for a frugal/practical guy to be driving. In the long run it's simply an expensive car to operate. At least when compared to a Civic.
When it comes right down to it, i'm simply trying to figure out if it's worth cutting my losses now, and moving on with the Civic.
Now i've owned the $28,000 car for a few months and i'm constantly watching it get beaten up by the harsh driving enviornment of the Chicagoland area. I can't even imagine how things are gonna be during the harsh winter months with snow/salt becoming a daily reality.
I'm just becoming a very frugal and practical consumer every day. I realize that having the most expensive option, isn't always the best one. That pouring more money than you have to into a greatly depreciating asset isn't as fun as it seems.
The TSX is awesome, I have no doubt about that. I like just about everything about it. But i'm just not so sure it's the car for a frugal/practical guy to be driving. In the long run it's simply an expensive car to operate. At least when compared to a Civic.
When it comes right down to it, i'm simply trying to figure out if it's worth cutting my losses now, and moving on with the Civic.
In fact, thats what I may do myself. I may trade in my CGP/Ebony 2005 this weekend for a new PWP/Ebony this weekend. Sure it will cost me $4K if I sign the deal, but I think PWP is a much better color choice. And YES, I will be CRAZY if I go through with it....but I would be much happier than if I were to go to a Civic.
What color did you buy? Was is black? If so, trade that sucker in and get a PWP or Silver....
09-20-2006 | 07:12 PM
#50
No-navi, yo
Joined: Oct 2004
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From: Lala land
Originally Posted by jlukja
May I suggest you keep the TSX for a little while longer and see if you still feel this way a few months down the road. Don't compound the problem by making a poor financial decision to make up for a poor financial decision.
Originally Posted by myblacktsx
There was an article on MSN a few days ago - unfortunately I don't have the link - in which the author was taking about depreciation of new cars. The author's opinion is that the first two years are the highest for depreciation and from year 2-5 it doesn't depreciate nearly as fast and year 5 onward, the depreciation rate increases. If I were you, I would wait till it is at least 2-2.5 years old before selling it, especially considering that you're not putting that many miles on the car.
To O.P. : What you really need right now is some wax-on wax-off, clay bars and microfiber towels.
09-20-2006 | 11:17 PM
#51
Burning Brakes
Joined: Jun 2005
Posts: 761
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From: Georgia
I agree with the others. You've already taken the depreciation hit, might as well enjoy the car for a while, if you can afford it. Getting even a cheaper car, you lose some on the trade in, then you get to take the depreciation on yet another new car.... it just doesn't seem like a good financial reason.
Now, if you just hate the TSX, can't afford the monthly payments, want something different coz you're going to just explode if you don't get it, or whatever reason, then go for it. I just don't see it as a good financial move. (Show me the numbers/money!)
I'm having this same kind of conversation recently with a relative. He has a nice V6 Accord, probably nearly the same price as a TSX, and he'd like a more "fun" car, so he's thinking the Civic Si. We test drove it; it's a fun little car, but I'd rather have my TSX. (Funny thing, with all of the extra charges they want to tack onto the Si right now, you could almost get a TSX...)
I find that after a few dings and chips, you aren't nearly as worked up over it when you get yet another one.
OH well.
Now, if you just hate the TSX, can't afford the monthly payments, want something different coz you're going to just explode if you don't get it, or whatever reason, then go for it. I just don't see it as a good financial move. (Show me the numbers/money!)
I'm having this same kind of conversation recently with a relative. He has a nice V6 Accord, probably nearly the same price as a TSX, and he'd like a more "fun" car, so he's thinking the Civic Si. We test drove it; it's a fun little car, but I'd rather have my TSX. (Funny thing, with all of the extra charges they want to tack onto the Si right now, you could almost get a TSX...)
I find that after a few dings and chips, you aren't nearly as worked up over it when you get yet another one.
OH well.
09-20-2006 | 11:45 PM
#52
Intermediate
Joined: Sep 2006
Posts: 44
Likes: 5
You will not net anything trying to step down from your TSX to an 06 civic. 
The only way you could possibly stand to gain financially is if you stepped down to a car that is a couple of years old and the depreciation is already established (perhaps an 03 Accord?). I know that wont work for you because you like the civic.
If the TSX is a monkey on your back, I definitely say its worth it to get rid of it and put the money into your IRA or 401K.
The only way you could possibly stand to gain financially is if you stepped down to a car that is a couple of years old and the depreciation is already established (perhaps an 03 Accord?). I know that wont work for you because you like the civic.
If the TSX is a monkey on your back, I definitely say its worth it to get rid of it and put the money into your IRA or 401K.
09-21-2006 | 03:02 PM
#53
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Joined: Jun 2006
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From: Bay Area, CA
Like most folks here, I think you're better off with what you have. But then, we are TSX drivers.
I test drove both the 2006 Civic Si and the 2006 Civic Ex Sedan before buying the TSX. They were all good cars. Except the Si, but only because it is way too small. And I admit, I liked the TSX more than the Ex, in every way. So I made three lists, must-haves, should-haves, and could-haves. The Civic Ex would have satisfied every must-have, and really nothing else. The TSX accounted for every must-have, every should-have, and most of the could-haves. It was, in my opinion, not just a better car, but a better value as well. Sometimes, you really do get what you pay for.
And if that isn't enough, consider this situation financially. You've already bought the TSX. So let's assume you paid 28k OTD for the TSX, you're going to pay $20 OTD for the Civic, and you're going to get $23k for your TSX. So when the swap is done, you'll have $3k you didn't have before and a Civic. But, you'll have lost $5k. Assuming you're right and you'll save $500 a year in fuel expenses (which means driving 18-20k miles a year, which maybe you do), it will take you ten years to break even. (This is where the argument for buying a hybrid to save gas falls apart also.) When I priced insurance, the Civic cost $120 per year more than the TSX (and I am a 30ish driver with a spotless record). Which means you're now out more than 12 years to break even. I suspect the two cars will even depreciate at a similar rate. So from a financial standpoint, unless you need cash *right now* to buy a house, this is idiotic. And even if you do really need cash, $3k isn't enough to do much. You'll have to go with something like a Daihatsu Charade.
I test drove both the 2006 Civic Si and the 2006 Civic Ex Sedan before buying the TSX. They were all good cars. Except the Si, but only because it is way too small. And I admit, I liked the TSX more than the Ex, in every way. So I made three lists, must-haves, should-haves, and could-haves. The Civic Ex would have satisfied every must-have, and really nothing else. The TSX accounted for every must-have, every should-have, and most of the could-haves. It was, in my opinion, not just a better car, but a better value as well. Sometimes, you really do get what you pay for.
And if that isn't enough, consider this situation financially. You've already bought the TSX. So let's assume you paid 28k OTD for the TSX, you're going to pay $20 OTD for the Civic, and you're going to get $23k for your TSX. So when the swap is done, you'll have $3k you didn't have before and a Civic. But, you'll have lost $5k. Assuming you're right and you'll save $500 a year in fuel expenses (which means driving 18-20k miles a year, which maybe you do), it will take you ten years to break even. (This is where the argument for buying a hybrid to save gas falls apart also.) When I priced insurance, the Civic cost $120 per year more than the TSX (and I am a 30ish driver with a spotless record). Which means you're now out more than 12 years to break even. I suspect the two cars will even depreciate at a similar rate. So from a financial standpoint, unless you need cash *right now* to buy a house, this is idiotic. And even if you do really need cash, $3k isn't enough to do much. You'll have to go with something like a Daihatsu Charade.
09-21-2006 | 04:51 PM
#56
Instructor
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+$2000 plus save $500 a year...interesting.
But the issue is, yes, you got some $$ income, and you bought something that's too expensive for you (at least your feelings with it). Right off the bat, you've made the wrong decision of buying a hat that's bigger than your head...and it financially wouldn't make sense in reality. Secondly, you then sell the big hat at a small hat's price and buy another small hat? Come on. TSX is not a compact car, and if you can financially buy 2 new cars at once, I'm sure that $2000 and $500 of gas a yr not that much of a factor then? It's almost like you buying a M5 and say I want to fill it up with 87 octane? Both financially and reality, making the change don't make much sense UNLESS you are desperate for money to payoff something...which you don't sound like it.
If you care about the TSX being scratched up, then it says that you like it. If you like it, and you can afford it...then might as well keep it. Like some said, unless you keep the car for like 10 yrs, you'd only probably be spending $5000 (ie: $2000 x 6 yrs of $500) more for a better car than if you make the trade. Not bashing at you, but the argument you've proposed here doesn't make sense financially and reality...unless, like I said, u're desperate for $$.
But the issue is, yes, you got some $$ income, and you bought something that's too expensive for you (at least your feelings with it). Right off the bat, you've made the wrong decision of buying a hat that's bigger than your head...and it financially wouldn't make sense in reality. Secondly, you then sell the big hat at a small hat's price and buy another small hat? Come on. TSX is not a compact car, and if you can financially buy 2 new cars at once, I'm sure that $2000 and $500 of gas a yr not that much of a factor then? It's almost like you buying a M5 and say I want to fill it up with 87 octane? Both financially and reality, making the change don't make much sense UNLESS you are desperate for money to payoff something...which you don't sound like it.
If you care about the TSX being scratched up, then it says that you like it. If you like it, and you can afford it...then might as well keep it. Like some said, unless you keep the car for like 10 yrs, you'd only probably be spending $5000 (ie: $2000 x 6 yrs of $500) more for a better car than if you make the trade. Not bashing at you, but the argument you've proposed here doesn't make sense financially and reality...unless, like I said, u're desperate for $$.
09-22-2006 | 09:40 AM
#57
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From: Chicago
Many of you have suggested that i'm gonna lose so much money by getting rid of my TSX right now. But i'm a bit confused by this statement, as it seems to me that I stand to lose the most money the longer I keep it.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize this is a TSX forum, and it's not likely that i'm gonna recieve a lot of support for buying a Civic. But some of you just seem a little blind to the idea that cars depreciate, and by getting rid of a car sooner, you're simply cutting that depreciation short as soon as possible.
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize this is a TSX forum, and it's not likely that i'm gonna recieve a lot of support for buying a Civic. But some of you just seem a little blind to the idea that cars depreciate, and by getting rid of a car sooner, you're simply cutting that depreciation short as soon as possible.
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
09-22-2006 | 10:22 AM
#58
Instructor
Joined: Oct 2005
Posts: 162
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If you really want to save money, you can go further down in getting a new car...Honda Fit, Corolla Yaris, Chev Cobalt?, Suzuki SX4 and the list goes on. Yeah, if you're downgrading, you're going to save 2-3k. But everytime you downgrade within a yr of the car, you already lost some of the initial $$ that you made for the first car. And plus, your reasons for doing so is because of scratches, gas ($500 a yr = $3000 for 6 yrs?), and $2-3k more. But if you originally bought the Civic, you already saved yourself $10000 of cash (assuming Civic with tax is $$21000 and TSX is $31000). So out of that $10000, you probably get about $5-6k back after 2 to 3 yrs and you lost yourself aboug $5000 to start with and plus, you are downgrading remember. IF cash is your issue, go with even lower cars I would suggest.
09-22-2006 | 11:32 AM
#59
Drifting
Joined: May 2006
Posts: 2,355
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From: Mississauga, Canada
Originally Posted by Tigerriot
Many of you have suggested that i'm gonna lose so much money by getting rid of my TSX right now. But i'm a bit confused by this statement, as it seems to me that I stand to lose the most money the longer I keep it.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
Just like with the stock market, you only take a loss once you cash out your stocks, as long as your money is in the market you haven't actually lost it yet.
It really seems like you want the civic so why don't you just go ahead and get it? Every argument someone has made in favour of the TSX you've shot down... so clearly your mind is made up.
What we think about depreciation or the car itself doesn't matter it's what you think, we're not going to convince you to change your mind so just go for it, the sooner you do this the sooner you can finally enjoy driving the car you have. Honestly tho, i don't think with your mindset you'll be enjoying it much, because its' going to get scratched up and dinged up like any new car, and you'll take another hit in depreciation... (it is always the worst over the first few years...)
09-22-2006 | 11:36 AM
#60
Safety Car
Joined: Jun 2005
Posts: 4,991
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Originally Posted by Tigerriot
Many of you have suggested that i'm gonna lose so much money by getting rid of my TSX right now. But i'm a bit confused by this statement, as it seems to me that I stand to lose the most money the longer I keep it.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize this is a TSX forum, and it's not likely that i'm gonna recieve a lot of support for buying a Civic. But some of you just seem a little blind to the idea that cars depreciate, and by getting rid of a car sooner, you're simply cutting that depreciation short as soon as possible.
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize this is a TSX forum, and it's not likely that i'm gonna recieve a lot of support for buying a Civic. But some of you just seem a little blind to the idea that cars depreciate, and by getting rid of a car sooner, you're simply cutting that depreciation short as soon as possible.
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
But for the record, I wouldn't. A Civic may satisfy me now, but it won't satisfy me later. Knowing myself pretty well, I would want a better car in about 5 years; not so with the TSX.
09-22-2006 | 12:05 PM
#61
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
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From: West Orange, NJ
Originally Posted by Tigerriot
I might need someone to talk me off the ledge here. I'm really considering trading in my 06' TSX for an 07' Civic Sedan.
Here is a quick version of my story for background:
I'm 30 years old. I've never really been a big car guy. I've always admired nice cars, but i've never really been into buying new cars. I have just driven used Hondas for years now. Had an 88' Accord, 92' Civic, 93' Accord. I was a firm believer that the smartest financial people were the ones who drove used cars, and particularly well made used cars like Hondas.
So, earlier this year my wife and I had our income increase rather suddenly. Not by massive amounts, but by a nice enough amount that it got me thinking about buying a new car suddenly. It just came out of no where.
Before I could even blink, my wife and I were owners of two new cars.
She was driving an black 06' Mazda 3 GT hatch, and I was driving a Silver 06' TSX. Neither of us had ever bought a new car before, and it was exciting. We love them both to this day.
The problem comes in this way. Having owned these two new cars for the past few montns, i've realized the constant battle of trying to keep a new car looking new. See, i'm one of those people who when they own something nice, they try and keep it that way. The problem with a new car is, I feel like i'm fighting a constant losing battle. My TSX only has 5,000 miles on it, and already i've got a dozen small paint chips on the hood. I've got several minor scratches around the car as well. Have no idea how they got there, and i'm really careful washing it. I honestly get the feeling the car has several new defects everytime I take it into the dealership for something. I even noticed a small tear in the leather seats the other day. In just the spot such a mark would be made if a mechanic got into the car with a screwdriver in their back pocket. 
So, when it comes right down to it. I feel like i've learned a lesson. I don't feel buying a new car is a problem, as long as you don't spend a ton of money on it. Once you do that, you're just setting yourself up for that constant feeling that it's being beaten up, and there is nothing you can do to stop it. If I had spent $19,000 on the car I might not feel so intensely upset about every little nick and scratch. At least thats how I feel right now.
So, the bottom line is that i'm now considering trading in the 06' TSX for an 07' Civic Sedan. I personally feel that the cars are almost a wash from the outside. I'm a huge fan of the Civic sedan's look. I think it's nearly as good as the TSX.
The interior is where the real differences are seen. The cloth in the Civic is just ok. The bottom line for me is that the Civic offers a very competant drivetrain, with a VERY smooth tranny, and it gives me all the creature comforts I have to have. Not to mention the savings on gas over many years to come.
So, what do you guys think? I think i'll save some money on the swap. I've already paid down $6,000 on the TSX by the way. The Civic can be had for $19,500 retail.
Here is a quick version of my story for background:
I'm 30 years old. I've never really been a big car guy. I've always admired nice cars, but i've never really been into buying new cars. I have just driven used Hondas for years now. Had an 88' Accord, 92' Civic, 93' Accord. I was a firm believer that the smartest financial people were the ones who drove used cars, and particularly well made used cars like Hondas.
So, earlier this year my wife and I had our income increase rather suddenly. Not by massive amounts, but by a nice enough amount that it got me thinking about buying a new car suddenly. It just came out of no where.
Before I could even blink, my wife and I were owners of two new cars.
She was driving an black 06' Mazda 3 GT hatch, and I was driving a Silver 06' TSX. Neither of us had ever bought a new car before, and it was exciting. We love them both to this day.The problem comes in this way. Having owned these two new cars for the past few montns, i've realized the constant battle of trying to keep a new car looking new. See, i'm one of those people who when they own something nice, they try and keep it that way. The problem with a new car is, I feel like i'm fighting a constant losing battle. My TSX only has 5,000 miles on it, and already i've got a dozen small paint chips on the hood. I've got several minor scratches around the car as well. Have no idea how they got there, and i'm really careful washing it. I honestly get the feeling the car has several new defects everytime I take it into the dealership for something.
I even noticed a small tear in the leather seats the other day. In just the spot such a mark would be made if a mechanic got into the car with a screwdriver in their back pocket. So, when it comes right down to it. I feel like i've learned a lesson. I don't feel buying a new car is a problem, as long as you don't spend a ton of money on it. Once you do that, you're just setting yourself up for that constant feeling that it's being beaten up, and there is nothing you can do to stop it. If I had spent $19,000 on the car I might not feel so intensely upset about every little nick and scratch. At least thats how I feel right now.
So, the bottom line is that i'm now considering trading in the 06' TSX for an 07' Civic Sedan. I personally feel that the cars are almost a wash from the outside. I'm a huge fan of the Civic sedan's look. I think it's nearly as good as the TSX.
The interior is where the real differences are seen. The cloth in the Civic is just ok. The bottom line for me is that the Civic offers a very competant drivetrain, with a VERY smooth tranny, and it gives me all the creature comforts I have to have. Not to mention the savings on gas over many years to come.
So, what do you guys think? I think i'll save some money on the swap. I've already paid down $6,000 on the TSX by the way. The Civic can be had for $19,500 retail.
you paid $6,000 already and have put 5,000 miles on it. you're going to take a huge depreciation hit. the civic is a good deal for the car, but financially, not a good choice unless you can command top dollar for your chipped, seat torn, TSX with 5,000 miles on it when a new one can be had for around 28k.
09-22-2006 | 12:47 PM
#62
Dela-where-ean
Joined: Jul 2006
Posts: 19
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Originally Posted by cibs
both cars will depreciate. using depreciation to decide which car to purchase (when BOTH cars are Honda's that have excellent resale prices) is pretty useless... Especially when you keep saying you're going to keep the car for years to come... if you're gonna keep it for years, why do you care what it's worth in 2 yrs... if you drive a car into the ground depreciation is fairly irrelevant because you only take a depreciation hit when you SELL the car.
Just like with the stock market, you only take a loss once you cash out your stocks, as long as your money is in the market you haven't actually lost it yet.
Just like with the stock market, you only take a loss once you cash out your stocks, as long as your money is in the market you haven't actually lost it yet.
09-22-2006 | 12:50 PM
#63
VSA Rocks
Joined: May 2005
Posts: 1,410
Likes: 0
Originally Posted by Tigerriot
So, earlier this year my wife and I had our income increase rather suddenly. Not by massive amounts, but by a nice enough amount that it got me thinking about buying a new car suddenly. It just came out of no where.
In my opinion, it doesn't make sense on all levels:
- You're taking a huge depreciation hit for a simpler econo car. It will take years to recover your money lost throught the Civic's better gas mileage and insurance.
- The Civic DEFINES humble pie. You and your wife have just accomplished something to celebrate -- don't do the contrary and punish yourself
- The new car feeling is overrated - your description of all the nicks, dings, and torn leather are all indications that you want that "new feeling" all over again.
- You're 30 years old - Keep in mind that the Civic DEFINED "boy racer" and is always associated with teen kids.
I could go on, but I think you get the picture. You and your wife deserve better.
09-22-2006 | 12:55 PM
#64
VSA Rocks
Joined: May 2005
Posts: 1,410
Likes: 0
Originally Posted by Tigerriot
Many of you have suggested that i'm gonna lose so much money by getting rid of my TSX right now. But i'm a bit confused by this statement, as it seems to me that I stand to lose the most money the longer I keep it.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
Don't fall into the "monthly payment" trap. Draw yourself a cash flow diagram and compare the two scenarios together 5 years from now. You'll see the power of componding interest.
09-22-2006 | 01:28 PM
#65
Have camera, will travel
Joined: Jan 2004
Posts: 7,783
Likes: 0
From: Federal Way, WA
Just relax about the rock chips and minor scratches, etc. Any car is going to get them. It's just a normal part of owning a car. Your TSX is nice, but it's not like you sprung for an F430 or something. The TSX has a very practical, economical side to it. It gets great gas mileage, and it's inexpensive to own in terms of reliability.
Just lay back and enjoy life and your car.
Just lay back and enjoy life and your car.
09-22-2006 | 01:57 PM
#66
Got Phó?
Joined: Apr 2005
Posts: 1,932
Likes: 0
From: Say WA!
Man, i remember when i first got my 05 TSX...a week later some ass open their door and ding my front bumper, and later on more rock chips to come...more chips on my car then a fat kid party. I love my TSX( better then any Civic on the road )and the payments are almost done...i only have 2g left until pay off! 
09-22-2006 | 02:45 PM
#67
Thread Starter
Advanced
Joined: Jun 2006
Posts: 90
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From: Chicago
Originally Posted by cibs
both cars will depreciate. using depreciation to decide which car to purchase (when BOTH cars are Honda's that have excellent resale prices) is pretty useless... Especially when you keep saying you're going to keep the car for years to come... if you're gonna keep it for years, why do you care what it's worth in 2 yrs... if you drive a car into the ground depreciation is fairly irrelevant because you only take a depreciation hit when you SELL the car.
Originally Posted by cibs
It really seems like you want the civic so why don't you just go ahead and get it? Every argument someone has made in favour of the TSX you've shot down... so clearly your mind is made up.
What we think about depreciation or the car itself doesn't matter it's what you think, we're not going to convince you to change your mind so just go for it, the sooner you do this the sooner you can finally enjoy driving the car you have. Honestly tho, i don't think with your mindset you'll be enjoying it much, because its' going to get scratched up and dinged up like any new car, and you'll take another hit in depreciation... (it is always the worst over the first few years...)
What we think about depreciation or the car itself doesn't matter it's what you think, we're not going to convince you to change your mind so just go for it, the sooner you do this the sooner you can finally enjoy driving the car you have. Honestly tho, i don't think with your mindset you'll be enjoying it much, because its' going to get scratched up and dinged up like any new car, and you'll take another hit in depreciation... (it is always the worst over the first few years...)
09-22-2006 | 03:09 PM
#68
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by Tigerriot
It's not buyer's remorse, as much as it is simply the practical side of me finally waking up to the fact that I just bought a $28,000 car. I had never paid more than a few thousand for a car before that.
Now i've owned the $28,000 car for a few months and i'm constantly watching it get beaten up by the harsh driving enviornment of the Chicagoland area. I can't even imagine how things are gonna be during the harsh winter months with snow/salt becoming a daily reality.
I'm just becoming a very frugal and practical consumer every day. I realize that having the most expensive option, isn't always the best one. That pouring more money than you have to into a greatly depreciating asset isn't as fun as it seems.
The TSX is awesome, I have no doubt about that. I like just about everything about it. But i'm just not so sure it's the car for a frugal/practical guy to be driving. In the long run it's simply an expensive car to operate. At least when compared to a Civic.
When it comes right down to it, i'm simply trying to figure out if it's worth cutting my losses now, and moving on with the Civic.
Now i've owned the $28,000 car for a few months and i'm constantly watching it get beaten up by the harsh driving enviornment of the Chicagoland area. I can't even imagine how things are gonna be during the harsh winter months with snow/salt becoming a daily reality.
I'm just becoming a very frugal and practical consumer every day. I realize that having the most expensive option, isn't always the best one. That pouring more money than you have to into a greatly depreciating asset isn't as fun as it seems.
The TSX is awesome, I have no doubt about that. I like just about everything about it. But i'm just not so sure it's the car for a frugal/practical guy to be driving. In the long run it's simply an expensive car to operate. At least when compared to a Civic.
When it comes right down to it, i'm simply trying to figure out if it's worth cutting my losses now, and moving on with the Civic.
ok, i haven't made it through the entire thread yet, but here's what i think. it sounds like you WILL be happier with the Civic and you will pocket some money over 10 years. I don't think it's significant enough to justify the depreciation hit on the tsx, but if your truly hold on to the civic for 10 years, you'll be fine i think.
so i think it sounds like you'll be happier with the civic.
on the flip side.....if you're NOT, then you're going to be much worse off, because then you're stuck with the civic for at least 5 years to make it even feasibly worth it.
09-22-2006 | 05:13 PM
#70
Advanced
Joined: Jul 2003
Posts: 63
Likes: 0
From: Wisconsin
In early 2001, I traded my 98 Integra GSR for a 01 Civic Coupe EX. I got $14,500 for the Integra and paid $16,000 for the Civic. My state you oly pay tax on the difference so that was not a big deal. But even though I got about $1500 more for the Civic on the trade in for my TSX than I would have got from my Integra, I did regret the move "backwards" the entire time. All because my wife didn't want to drive a manual. Needless to say both my wife and I appreciate the TSX much more and will be keeping it at least 5 - 6 years.
09-22-2006 | 08:19 PM
#71
Racer
Joined: May 2004
Posts: 250
Likes: 1
From: NJ
After i and other members over in Mazda3 forum talked you down for another Mazda 3, you are thinking about Civil now. I am speechless.
If you are not ready for TSX and civil will help you sleep at night and feel better, i say go for it. $2000 back and $500 saving per year are not bad. There are more important stuffs in life than "WTF hit my new car door".
If you are not ready for TSX and civil will help you sleep at night and feel better, i say go for it. $2000 back and $500 saving per year are not bad. There are more important stuffs in life than "WTF hit my new car door".
09-22-2006 | 11:04 PM
#72
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Joined: Jun 2006
Posts: 90
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From: Chicago
It's happened. I have awaken from my cloudy haze of confusion, and doubt. I have decided definitively that I am keeping my TSX.
It's kinda funny what triggered the sudden clarity for me. I just found myself browsing the BMW site for the first time ever, as i've always had a thing for 3's. I was admiring the sweet 3 sedan, and thinking about the possibility that I could own one someday in the future. Suddenly it hit me, "you already own a car thats darn near as good you MORON".
So, it all became clear for some strange reason. I just know that I don't want to get rid of my TSX, when I know that if I did, it would be a long time before I ever got near another car of it's calibur again. I already own a car that is near the quality of a BMW 3, and i'll be damned if it's probably even more reliable in the long run.
Sorry if this thread annoyed the hell out a few of you. It might have been dumb to post such a topic to begin with, but it seemed easier than bringing up the idea to my wife or friends first.
It's kinda funny what triggered the sudden clarity for me. I just found myself browsing the BMW site for the first time ever, as i've always had a thing for 3's. I was admiring the sweet 3 sedan, and thinking about the possibility that I could own one someday in the future. Suddenly it hit me, "you already own a car thats darn near as good you MORON".
So, it all became clear for some strange reason. I just know that I don't want to get rid of my TSX, when I know that if I did, it would be a long time before I ever got near another car of it's calibur again. I already own a car that is near the quality of a BMW 3, and i'll be damned if it's probably even more reliable in the long run.
Sorry if this thread annoyed the hell out a few of you. It might have been dumb to post such a topic to begin with, but it seemed easier than bringing up the idea to my wife or friends first.
09-22-2006 | 11:13 PM
#73
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by afax226
Check out the insurance for the Civic first. In Toronto, it costs a lot more to insure a Civic than a tsx because of the civic's higher crash rate. Tsx drivers tend to be more mature.
09-22-2006 | 11:37 PM
#74
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by Tigerriot
I appreciate the suggestion. It's really a good way of looking at it.
The only problem is i've been thinking about this for a solid month now already.
Now i'm starting to get to the point of taking action, so I posted this thread about it. The new 07' Civics are showing up at dealers right now.
One thing I haven't noticed is anyone trying to convince me to keep the TSX based on long term reliability. Is there any reason to believe a TSX K24 is gonna keep ticking longer than a Civic 1.8L?
The only problem is i've been thinking about this for a solid month now already.
Now i'm starting to get to the point of taking action, so I posted this thread about it. The new 07' Civics are showing up at dealers right now.One thing I haven't noticed is anyone trying to convince me to keep the TSX based on long term reliability. Is there any reason to believe a TSX K24 is gonna keep ticking longer than a Civic 1.8L?
09-22-2006 | 11:55 PM
#75
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by myblacktsx
There was an article on MSN a few days ago - unfortunately I don't have the link - in which the author was taking about depreciation of new cars. The author's opinion is that the first two years are the highest for depreciation and from year 2-5 it doesn't depreciate nearly as fast and year 5 onward, the depreciation rate increases. If I were you, I would wait till it is at least 2-2.5 years old before selling it, especially considering that you're not putting that many miles on the car.
09-23-2006 | 12:08 AM
#76
Thread Starter
Advanced
Joined: Jun 2006
Posts: 90
Likes: 0
From: Chicago
Originally Posted by bradykp
that doesnt make sense, if he waits to 2-2.5 years, he'll have absorbed the worst portion of deprectiation, and not get to enjoy the slowest portion. think about that for a minute?
Did you also read my reply just moments ago, about keeping my TSX?
09-23-2006 | 12:21 AM
#77
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by TIGHT TSX
How Are You People Even Comparing A Civic To A Tsx. Is This A Joke 
Take This To A Honda Website Man. A Sedan Civic Isn't One Tenth The Car.
Take This To A Honda Website Man. A Sedan Civic Isn't One Tenth The Car.
Originally Posted by TIGHT TSX
Don't buy a car you can't afford.
the civic is a dang good car, even if you PERSONALLY don't like it. it's not in the same class as the TSX obviously, but if you read the post you'd understand the reasons one would consider it. The TSX is $7-8k more and the new civic offers a lot of the features, but not all.
our TSX is awesome, but not that immensely powerful, so it's not a big adjustment to drive a civic (if you like a smaller car, which i don't).
offer insight not insults. he obviously can afford the car, but he's having buyers remorse because it's the first time he spent a lot on a car. some people don't like to WASTE money on a car. some people don't mind it.
the TSX is a great value for what it is, but all cars, especially new cars, are a waste of money. that's where the emotional side of us takes over, and we justify the waste of money.
i think this is the best money i've ever wasted before, so i'm happy.
09-23-2006 | 12:26 AM
#78
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by Tigerriot
Many of you have suggested that i'm gonna lose so much money by getting rid of my TSX right now. But i'm a bit confused by this statement, as it seems to me that I stand to lose the most money the longer I keep it.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize this is a TSX forum, and it's not likely that i'm gonna recieve a lot of support for buying a Civic. But some of you just seem a little blind to the idea that cars depreciate, and by getting rid of a car sooner, you're simply cutting that depreciation short as soon as possible.
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
For instance, my TSX is probably still worth $25,000 or $24,000. However, if I kept the car a few more years, i've then paid my $420 car payment for those two or three years, and then my TSX is worth probably $15,000. So tell me how I come out better in that deal?
I realize this is a TSX forum, and it's not likely that i'm gonna recieve a lot of support for buying a Civic. But some of you just seem a little blind to the idea that cars depreciate, and by getting rid of a car sooner, you're simply cutting that depreciation short as soon as possible.
I realize my new car will depreciate as well, but at least I know that car is gonna be around for many years to come, and i've also got the savings each and every month from here on out.
of that $5,000, you're going to save $2,000 on your new car purchase, for a net of -$3,000. you claim you'll save about $500/year on gas (why not just fill up te TSX with 89 if that's the dealbreaker? i know many people here would gasp, but it's not gonna hurt you, or get a credit card with 5% cashback on gas purchases)
anyways, the money you save on gas will be offset by the higher insurance, maybe not completely, but pretty close. all in all, you're going to have to keep the civic for 10 years to come out even on the deal. why not just keep the TSX for that period of time? a scratch is a scratch on a new car. whether the car was $20,000 or $27,000 really won't make a difference.
09-23-2006 | 12:29 AM
#79
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by cibs
both cars will depreciate. using depreciation to decide which car to purchase (when BOTH cars are Honda's that have excellent resale prices) is pretty useless... Especially when you keep saying you're going to keep the car for years to come... if you're gonna keep it for years, why do you care what it's worth in 2 yrs... if you drive a car into the ground depreciation is fairly irrelevant because you only take a depreciation hit when you SELL the car.
Just like with the stock market, you only take a loss once you cash out your stocks, as long as your money is in the market you haven't actually lost it yet.
It really seems like you want the civic so why don't you just go ahead and get it? Every argument someone has made in favour of the TSX you've shot down... so clearly your mind is made up.
What we think about depreciation or the car itself doesn't matter it's what you think, we're not going to convince you to change your mind so just go for it, the sooner you do this the sooner you can finally enjoy driving the car you have. Honestly tho, i don't think with your mindset you'll be enjoying it much, because its' going to get scratched up and dinged up like any new car, and you'll take another hit in depreciation... (it is always the worst over the first few years...)
Just like with the stock market, you only take a loss once you cash out your stocks, as long as your money is in the market you haven't actually lost it yet.
It really seems like you want the civic so why don't you just go ahead and get it? Every argument someone has made in favour of the TSX you've shot down... so clearly your mind is made up.
What we think about depreciation or the car itself doesn't matter it's what you think, we're not going to convince you to change your mind so just go for it, the sooner you do this the sooner you can finally enjoy driving the car you have. Honestly tho, i don't think with your mindset you'll be enjoying it much, because its' going to get scratched up and dinged up like any new car, and you'll take another hit in depreciation... (it is always the worst over the first few years...)
if you'll be happier in the civic, it's worth the slight temporary loss for the long term potential to break even or come out slightly ahead. but most of us here just don't understand why a civic would make you happier, when you're already invested in the TSX which is from the same company, a slightly larger car with more space, and a nicer interior.
09-23-2006 | 12:32 AM
#80
Still Lovin my 06
Joined: Nov 2005
Posts: 2,772
Likes: 1
From: West Orange, NJ
Originally Posted by Black_6spd
Think of it this way: The whole time you've owned your TSX, you've been paying your principal down in addition to whatever you put down. In addition to that, you've been making interest payments that will never be recovered. Regardless of how many months you are financing, you have to start the loan term ALL OVER AGAIN.
Don't fall into the "monthly payment" trap. Draw yourself a cash flow diagram and compare the two scenarios together 5 years from now. You'll see the power of componding interest.
Don't fall into the "monthly payment" trap. Draw yourself a cash flow diagram and compare the two scenarios together 5 years from now. You'll see the power of componding interest.