I'm trying to pick up am 03 Cl type S with 6MT. I will be spendin around $19k with 40k miles on the clock. I am wondering what you think the resale value will be in 5 years, with say 140k miles? I will hope to get back what I invested in insurance when I decide to sell the car.

Do these cars have good resale value? The price right now is on par with other 3 year old cars of similar invoice price (around 30k) with similar miles.

I looked up on kbb.com. a 2001 type S 5 speed 140k miles would be worth over $10,000 right now.

 

Resale value is now and its only going to get worse with more miles and as the car gets older. Your only hope would be to find someone who is looking for a 6mt model only

 

why is the resale so poor? reliable, good power, 6 speed.. I don't get it

 

The automatic transmission didn't help the resale even on the 6speed. It is also a discontinued car, two doors, fwd, used car market is flooded, car rattles a lot.

Check your insurance rates before deciding on the purchase. If you have any tickets or plan on getting any you may not get back what you put out in insurance.

 

I've heard about this resale issue many times but around here where I live, it's not too bad. You just have to find the right buyer. They are few and far between. If you want real numbers though, go to www.nada.com. That's what all (most of) the dealers use.

 

Seems your looking to resell in 5 years. Why not just lease then. Might make more sense since you won't have to deal with resale. 140K miles & an 8 year old car would be around $5-$7K, mabye less maybe a bit more. Don't know what the market will be 5 years from now.

 

true.. I don't want to lease because I have to drive too many miles. I commute 50 miles each way to work.

How much does everyone pay for insurance per 6 months in their 6MT? I am 24, no tickets in the past 3 years. One accident after I hydroplaned and slammed into a cement wall over this past summer.. but I didn't get a ticket for it. I'd be happy if I could get away with $2k a year for insurance.. I'll have to get some real quotes.. not this progressive online BS.

 

Sorry but this is not the car to buy if you want to break even after 5 years.

Progressive is not BS infact that is who my insurance is through. I paid exactly what they quoted me online and no local company can touch them around here. Im 24 no tickets on my record anymore and no accidents. I pay1000 a year for 3 vehichles but my CLS is the only one with full coverage. Also progressive has a lot of nice perks that your average company doesn't like 24hr access to your account, access to your driving record, ....

 

When my ex bought her '03 6er, she went from a 2001 Grand Am and her insurance actually went down by about $20/mo. She was 24. I went from a 2001 F-150 4x4 to the CL and mine went up $10/mo AFTER the fact I totaled the truck (my fault).

I know my '01 At will be cheaper than an '03 6'er but for what it's worth, I pay $155/mo for full cov'g on the CL + basic cov'g on my '76 K5 Blazer. BTW, my insurance went WAY down after I turned 25... There's someting to look forward to!

 

progressive online quote always quotes me way too high.. for example I am paying $700/6 mo for one current vehicle.. progressive quoted for $1160. If I shopped around I could have probably gotten even better.

Anyway.. I guess I won't be breaking even, but I'll still be buying one I like the power, 6MT, and reliability. For a 20k daily driver, what would be better? Plus, I see about one CL every month on the road, so I can be different.

 

I think $5-8K would be about the value in 5 more years... you can probably look at the values on 1st gen CL's to get a feel for what prices on the 2nd gen CL's will be in the future. 19K for a 40K mile 6spd is a decent price... We have seen a range of about 18-22K for "average mileage" CLS 6spds here (I'm not counting that 92K mile 6spd that red99cl2.3
bought out of NH for $13.5K). If I were to sell my CL (w/ 41K miles), I'd ask for 20 or so, but would probably take 19).

I don't think the resale value is that bad now. Sure we took it in the shorts when the CLS was discontinued, but as any car gets older the depreiciation curve levels out... Lost 5K in value the first year, but probably only 1.5K in value this year.

When I was doing reseach about buying a CL (see my join date), I saw that a report (edmunds) that said that the CL would retain 52% of it's value after 5 years. I think that I'll be able to easily get 15K for my 30K CL (it's a 6spd) if I decide to sell in another couple of years (with about 60K miles). That 50% of it's value after 5 years which is what edmunds estimated it would be back in 2002.

EDIT: I beleive I'm paying about 1600-1800 a year on my 6spd for insurance (in MA, 300K per accident)... I'd have to double check the numbers tho', as I don't usually worry about insurance costs.

 

What car are you currently paying $700 for ? Depending on what your moving up from that quote could be acurate

 

er, I wouldn't be upset if the $1160 quote was for the CL.. I meant that progressive quoted me $1160 on the car that I am currently paying $700 for.

Thanks for all the info guys. Now I just have to find a good deal !

 

Out of the entire Honda/Acura lineup, the CL's are the ones with the worse resale values.

It's really a shame. As has been mentionned before, the problems of the automatic transmission CL's bring down the resale value on all CL's, even 6 spd's.

 

Its true the resale on CL's is bad now, that is actually a good thing at point of purchase. Like buying a domestic car with poor resale, its better to buy it a few years old when the depreciation flattens out. I got my 03' CL AT with 50k for under 15k with an extended warrenty(60months/60k). There are great deals out there on this car right now if you look hard enough. As for resale, I think it will be better on the auto because alot of people don't like manual trans and demand dictates resale. As for future resale value, hard to predict without a crystal ball.

 

jees under 50k for $15k with that warranty.. thats a great deal. The cars I'm finding are 40kish miles for $19k+.. guess I'll have to look harder. I can live with that but I would prefer around 17 or 18K so I can have some money for suspension and wheels

 

i was only paying 149 a month when i was 24. that was full coverage 250 deductable, and every add on i could get. it dropped to 80 a month for the same coverage when i turned 25. and i have managed to get every vehicle totaled i have owned. only one was my fault. wonderful 19 year old fsu girl drivers. cls= eleventh car since i was 16.

 

I'm with state farm ... currently paying $88/mo ~530 /6 mo on the CL-S. Full coverage, $500 deductible.

The truck (Chevy S10) costs another $34/mo ~200/6 mo ... reduced coverage.

25 yo ... 2 accidents ... 2 speeding tix ...

Both of the speeding tickets are over 3 years old.

The first accident was 9 years ago. The second was about 2 now, but the 2nd was low damage and it didn't hit a repair $ threshold, so my rate stayed the EXACT same. The guy told me it was like a get ouf of jail free card, never happens.

 

Here's a little info...I traded mine in last year with 45k on the clock and got $16.5k for it, so I'd say that one might be worth $10k in a few years, but most likely less...

 

You can also try www.Edmunds.com

 

^^ I'm telling you... NADA.com is the only way!

 

Just sold my 98 CL 3.0 Premium for $7500. Probably could have sold 5 more of them.
Purchased an 03 CLS with 29k for $18,000. I love this car more with each drive.
I've noticed that Accord V6 coupes are priced higher than CL's. My take is that more people are looking to purchase a Honda and don't realize the Acura's are in their price range. Thus, weak demand.
I actually bought my 1st CL while shopping for a Honda V6 coupe, same price, better car.
Resale value may not be the best on a CL, but you will be driving a real driving machine, and that's the most important value of a CL.

 

The fact that the CL has been on and off the market, twice, further shows how much of a failure the model was (as far as Acura HQ is concerned). I'm sure that such fact alone brings down its resale value.