Question to everyone. How come our car looses retail value so fast? I got CL-S/NAV with 20K miles on it. If I would of try to sell the car right now, the only money I would of got it for it is around $22,000. So the question is how come we are loosing retail value so fast.

 

Welcome to the wild and wonderful world of one of the worst money investments you can make--your car.

 

Well, when they're selling 2002s for 28k, that doesn't help.

 

I'd say that's a very good price considering you lose about 25% of any car's value as soon as you drive off the lot.

 

Our wonderful car is made in the USA! Don't you just love that. Look at every car company that has came over to the united states. Their retail value sucks... Toyota, Honda, Acura, etc... That's why the damn Acura Legend still cost alot, IMPORT BABY!

 

Not all cars take such a big bath on resale. My 99 Civic Si got 14k on a trade in--paid 17.8K new over 3 years ago. Also I didn't take the "hit" on the new truck either..............$200 below dealer invoice or $3,614 off!! Depends a bit on popularity of what you drive. Kept the PDG CL-S because I couldn't stand to lose so much on it. Wife doesn't mind driving it either...........sometimes she lets me drive it!! But new cars are a losing deal; a car salesman once told me, "You might as well put $100 bills on the hood and watch them blow away while you drive."

 

So, basically by the end of 2002 our car's CL-S will be worth around 17K in perfect condition. That 14K down from initial price 31K just 2 years ago ..THIS SUCKS>>>

 

I have a friend who bought an Lincoln LS V8 fully loaded. The damn car cost him around 40g's (he likes american cars) and guess what. The damn car is worth 20 something. Can you say almost a 20g lost in almost two years.

 

My Chrysler 300M was no different. My 2000 was $32K no discounts at all. I sold it for $19K 1.5 years later. Book was only $18K, but I included the mods I did to it. The car market isn't helping either. Why buy used, when every car company has tons of deals on new cars. Hence the slow sales, & low prices of used cars. One reason I decided to lease.

 

Acura’s used to hold their value quite well when they were made in Japan.
I sold my 91 Legend Coupe in June 2000 for 11,500-dollars.
Not bad for a car that was NINE years old at the time and had 110,000 miles on the clock.

Shawn S

PS....If you think OUR depreciation is bad.
Go check out AZTEK values on a 24,000-dollar purchase after ONE year.

Per Edmunds:
Trade value $11,762
Private sale $12,652

Feel any better now ???

 

I guess we all expected better because it is an .....Acura, but oh well, gotta bite the bullet this time.



I am not buying any more new cars after the CLS, this was my first and last new car.

 

Thank God when I buy my cars, I keep it long enough not to worry about resale after having owned a car for less than a year..

'course you get nailed....

BTW $22K is a bit low. I think you can do a bit better than accepting the first low ball offer, esp. if you have the Nav. IMO

 

I seriouly doubt that. I see 2001s with mid milege, 40k, going for 25-26k still.

 

When I bought the CL, I planned on keeping it a few years.

I was ready to put a down payment on a 350Z, but the 10 penny nail in the ass hurt. The loss from buying a car new and not keeping it a year was too much. I'll have to wait until I can have both (CL and Z). With a Z, I would need a daily driver anyway.

 

Hey Speedy3.2CL-S

That what I thought before I actually tried to get the quote on my car. The best I got so far is 22,000k !!! Getting 25k-26k is a dream !

 

CL's depreciation is terrible. I was noticing that the other day. My Accord held it's value so well. On the other hand, check out the resale on the RSX. You can almost make money off those things.

 

Its not that bad. It could be ALOT worse.

 

In the Los Angeles area, you should see what dealers want for used CL-S's. $28K to over $30K for '01 models with anywhere from 8K to 15K miles on them. Private parties around here sell similar for $25 to $28K and some with 20K miles sell for the mid-20's. I've been looking through the classifieds since one of these months I want to buy. I hope that when I'm ready I can find a CL-S for $22K.

 

if you're getting a "quote" on the value of your car from the dealer, you're getting a trade-in or wholesale number, not the retail number. the trade-in is something like 80% of the retail price the dealer expects to ask for it.

$22k sounds about right for a trade-in. it'll prolly retail in the 26-27k range on some dealer's lot. you could probably get something between 22k and 27k selling the car yourself.

 

[QUOTE]Originally posted by tankmonkey
[B]

if you're getting a "quote" on the value of your car from the dealer, you're getting a trade-in or wholesale number, not the retail number. the trade-in is something like 80% of the retail price the dealer expects to ask for it.

I've tried on several occassions to "trade-in" my cars (all in superb condition) to dealers. I would have done it if I actually got low blue book. Every time they offered me a lot less than low blue book. I assumed the reason was that they needed to make room for jerks like me who make rediculous offers at the car lots.

 

The Honda Dealer near me (New Hampshire) has a 2001 CL-S with 28,000 miles advertised for 23,995. I'm sure you could negotiate it down to 23k.

 

new 2002 blk/blk sold for 27K last weekend here in the Bay Area... only 25 miles on it too