Why are used Toyotas and Hondas so expensive?
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Anonymous
| I am currently buying my first car and was blown away by the price of used Toyota Corollas and Honda Civics. For example, a 2014 Corolla LE with like 15k miles on it is still around $15k when I could buy a brand new Toyota Corolla LE for around $18k! It almost feels like it is better to just buy a new car in these cases. Thoughts? |
Anonymous
| Because they last forever and hold their value. |
Anonymous
|
They generally have few problems and when they do have problems, they are relatively inexpensive to fix.
My first two cars were a Jetta and a Sentra (new). I was pretty naïve then and I regret not getting a Civic or Corolla. Both would have saved me money and headaches in the long run. |
Anonymous
I'm going through the same process with a Honda Fit. I can buy new for only a couple of thousand more than used. No brainier. |
Anonymous
| They last forever with no major issues. |
Anonymous
|
We bought a 2014 Prius for $12k which I thought was a good deal for a car that was only 2 years old.
Personally, I think Honda's are nicer than Toyota's but I think Toyota's are a better value for the price, whether you buy new or used. Keep looking. Some used cars are overpriced depending on where you are buying. Consider using a buying service to help you find a better deal. There are apps that can do this as well. |
Anonymous
| Car tax is so expensive here that it bumps up the prices of used cars. Seriously |
Anonymous
|
For Hondas and Toyotas part of it is due to their lower depreciation, mainly based on their brand name.
But in general the used car market prices are a lot higher than it used to be. This was a topic discussed recently on another board that I'm on. Where it's like a combination of higher demand for used cars because people saw it as the financially prudent thing to do during the downturn in the economy. As well as less inventory due to a program like cash for clunkers which took out a lot of potential used cars. One thing to keep in mind is that usually for the used cars, those are just asking prices and you can probably negotiate to get it for a lower price. Especially when you point out how you can get a new one for not much more. |
Anonymous
Not true. MD does not have the car tax, but the cars are the same price as in VA |
Anonymous
| They hold their value. You might as well just get a new one. It will last a really long time though. |
Anonymous
| Because people will buy them. When I was buying Hondas, I always got the new one with )% or 1% financing. After a few years, I'd sell it, use all my equity for a brand new one. |
Anonymous
| I know people who have taken their Toyotas to 250-300K miles. (my brother is one of them.) My Acura (basically an upscale Honda) is going strong at 110K miles and my service guys think I could easily take it to 200k. |
Anonymous
|
I have a 2012 Corolla which we bought in 2015 for $12,000
The dealership called us a few months ago asking if they could buy it back, because their stock was low! !!??!! |
Anonymous
A lot of times those are gimmicks just to get you back in the door and buy another vehicle. I do know people that end up following up on it and are happy with any trades or deals they make from it. But I'd be skeptical or careful about it. |
Anonymous
Yes because Virginians would just cross the border and buy the used cars there. Used cars are a lot cheaper though if you leave this area and go to PA. |