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Author Topic: Used Honda pricing  (Read 1741 times)

Offline hamburgler

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Used Honda pricing
« on: July 20, 2005, 11:57:10 am »
I am trying to buy a 2003 or 2004 CRV in order to save some money and get a vehicle that is nicely 'broken in' but with some warranty left.  I've seen a lot of vehicles around Vancouver priced around $28-29K for '03 and '04 EX models but the dealers don't bargain much.  The confusing thing is I saw an 03 for $25995 with 22000KM but my wife hated the colour.  Black book on these is about $21-23000, and I've assumed they would spend $500 to detail/minor repairs, and then maybe a 10% mark up.  But it seems more like 20% mark up and they might come down 5-7%.  Am I missing something?  There is an '03 with 9000km at $27,900 which is perfect for me but the dealer won't come down a penny, even though he called me back to try and sell me the vehicle (at the same price).  I need some help figuring out what these vehicles are worth!

p.s.-how much of a difference does colour make in used pricing?
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Offline johngenx

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« Reply #1 on: July 20, 2005, 12:09:38 pm »
It's a Honda!  Two year old Hondas are terrible used cars buys and you can bet that the dealers will stick to their guns on those prices as they will get them.  They'll have to take next to nothing for the Neon some other guy traded in, so they want to make good profit on the ones that they can: Hondas.
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Offline mrthompson

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« Reply #2 on: July 20, 2005, 12:17:03 pm »
Hamburgler: Can you swing a deal on a NEW Honda?  Is it still within your budget?  Per John's post, it might be the way to go.
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Mdxtasy

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« Reply #3 on: July 20, 2005, 12:27:07 pm »
If you want a slightly lower price, try buying private.  It may not be a significant savings, but you'll save on taxes and the asking price might be a bit lower.
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Offline hamburgler

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« Reply #4 on: July 20, 2005, 01:36:38 pm »
I could get a new Honda but am trying to stay withing my budget.  I am loathe to pay full price for a new one, especially with their 3.9% rate.  Even Nissan was giving me 1.8 on an X-Trail.  I'd prefer to buy private, but there just aren't many available.  Can anyone tell me what these vehicles should cost?  Is $27,900 a fair price?
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Offline Craig

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« Reply #5 on: July 20, 2005, 02:28:14 pm »
Joining the Automobile Protection Association (www.apa.ca) or www.carcostcanada.com can get you near-invoice pricing on most vehicles.  The APA also has a used car buying service, with a 1 month return guarantee.

A 2-year-old CRV doesn't show much depreciation, as we've both discovered.  That's why I switched to looking at new, and ended up with the X-Trail.
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Offline AVToller

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« Reply #6 on: July 20, 2005, 02:52:26 pm »
I notice that you are on the Wet Coast, so yes, that sort of price is probably not too far off. It's one of the penalties we pay for living in paradise. Oh, wait, you are on the Mainland. Well, you are still CLOSE to paradise. Feel free to visit any time.
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Offline bmorton

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« Reply #7 on: July 20, 2005, 02:54:45 pm »
It seems as though it takes at least 4-5 years for a Toyota or Honda to depreciate enough to make it an attractive used vehicle purchase. We picked up a 2000 RAV4 last fall for $15k, about half of what it cost new. With 77k on it it has lots of life left and it's performed perfectly. Plus we saved about $8000 over what a 2003 model with warranty remaining would have cost.

You may still prefer a newer vehicle, but to be honest at $27,900 for a 2003 I'd probably choose a 2005 model (EX auto at $31,400). For the extra $3500 you're getting a brand new vehicle with full warranty and all the upgrades Honda made for 2005 (stability control is a big one). 2003 EXs with 40-45k on them are going for $24-25 in my area.
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Offline froggy

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« Reply #8 on: July 20, 2005, 03:58:54 pm »
It is not really fair to compare a 2000 Rav4 to a 2003 as the car was totally redesigned in 2001...
But it is still a great deal!
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Offline hamburgler

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« Reply #9 on: July 20, 2005, 04:34:34 pm »
I have a baby on the way so I'm nervous about side curtain airbags on the 2005's, which is another reason to go for '03-'04.  In addition to the $3500 Bmorton pointed out, I am saving freight and PDI, which is $1425, so a total of around $5000 on a car with 9000km.  It just really bugs me that he wouldn't drop the price even $100.
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Offline bmorton

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« Reply #10 on: July 20, 2005, 05:06:52 pm »
Froggy: You got it, the RAV4 was redesigned for 2001, so that meant we saved even more money by going with the last year of the previous design. A 2001 RAV4 with similar km on the lot at the time was $3000 more than we paid, just because it was the current look. Little bit of used car shopping strategy there. The equivalent CR-V would be 2001, since it was redesigned for 2002.

Hamburgler: Sounds like the dealer knows he has a vehicle that's in demand and is practically new, going by the km on it at least. If he won't budge it's because he feels he can sell it to someone, even if it's not you, without discounting it. If you really like that particular one you may have to pay up.
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Offline hamburgler

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« Reply #11 on: July 25, 2005, 11:12:47 am »
just to update  this thread, I bought an '04 EX-L for $27500 on Sunday.  It was listed at 31,995 but the dealer was at a temporary location and was pretty aggressive on some of his pricing, so I put in a low offer and he went for it.  The vehicle has 49K (high) but has lots of warranty left.
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Offline Shnak

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Used Honda pricing
« Reply #12 on: July 25, 2005, 11:41:18 am »
That's a great price for an excellent vehicle. I'm sure you will enjoy it for many many years to come!
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Offline hondasalesguy

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« Reply #13 on: July 25, 2005, 12:49:04 pm »
That is a very good price for an '04 EX-L. Waytago...
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Offline kingkong

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« Reply #14 on: July 28, 2005, 03:10:24 am »
>just to update this thread, I bought an '04 EX-L for >$27500 on Sunday. It was listed at 31,995 but the >dealer was at a temporary location and was pretty >aggressive on some of his pricing, so I put in a low >offer and he went for it. The vehicle has 49K (high) >but has lots of warranty left.

Lucky you!  I'm almost jealous at you but no, I'm happy for you.  I'm still trying to find a '02 EXL.  I'm closed to finding one, but not as a good deal as I hope oh well...
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Offline hondafan

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« Reply #15 on: August 27, 2005, 09:16:36 am »
I actually just bought a 2002 CRV EX-L for $23,600. That was a deal as I kinda new the Sales Manager (friend of a friend). t was listed at $25,900. Still has one year or 100,000km bumper-to bumper Warranty. Bought it with 59,000km. I think if you can find anything for 23 to 25K you can't go wrong. They [prices] will likely drop again (only slightly I'm sure) in the next 3 months when the '06 vehicles release. I just couldn't wait any longer. Trust me - I spent the last 8 months or so looking (a lot of that procrastination) but these vehicles are hot! You can see why - they are pretty much the best in class, have numerous awards, and carry the brand, Honda. My last vehicle was a '94 Acura [Honda] Integra - I racked up over 325,000KM on it - it was still running great when I sold it! (Needed something with more room and A/C).

Hope this helps.
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Offline hondafan

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« Reply #16 on: August 27, 2005, 09:24:24 am »
...just to add to this, don't let the year fool you as much as the mileage (that's way more important in my opinion) on these vehicles. 2 things:  
- a "2004" is likely an '03 manufactured vehicle - check the factory sticker. You could actually buy a "2002" and a "2003" manufactured in the same year!  
- CR-Vs did not change from 2002 to 2004 [well, maybe a coat hook and slightly larger storage compartments which were added in '03!] so don't let that be a factor in your purchase.

As long as you are within Honda's 5 yr powertrain Warranty you should be fine.
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