Trade-in LX for Si?

[garrnew]

I've slowly come to the realization that I should have bought an Si rather than the '06 LX. I was too focused on $ at the time. So I'm looking to trade it in for an '06 or '07 Si (new or used). I've had it about a year with 20000 mi on it and still owe Honda a good amount.

Has anyone done this? Or know how much $ I stand to lose on the deal? I'm worried about depreciation (with dealer markdown for trade-in), interest I've already paid and the initial costs I paid for the LX and stand to pay for an Si (GAP, extended warranty, TT&R, etc.).

Basically, is it worth it???

[datbacker59]

i did exactly what your talking about.....................

i drove a 06 lx sedan with 22,000 miles on it.
traded it in for 14,200 (bought it for 17,000)
still owed 7,500 on the LX.

bought a new 2007 civic Si sedan for 21,000

turned out to be 240 a month.

bought the Si last week

[I Vtec, do you?]

Originally Posted by garrnew

I've slowly come to the realization that I should have bought an Si rather than the '06 LX. I was too focused on $ at the time. So I'm looking to trade it in for an '06 or '07 Si (new or used). I've had it about a year with 20000 mi on it and still owe Honda a good amount.

Has anyone done this? Or know how much $ I stand to lose on the deal? I'm worried about depreciation (with dealer markdown for trade-in), interest I've already paid and the initial costs I paid for the LX and stand to pay for an Si (GAP, extended warranty, TT&R, etc.).

Basically, is it worth it???

To be honest, I don't think it's really worth it. I too went from an 06 lx to an 07 SI.. and for all the hassle (taking on payments, lot more money towards gas, $50 more a month for insurance).. you aren't getting a whole ton.

Basically you get the same car, just a little quicker and a little more nimble. Personally, if I were gonna do it again (and I LOVE the si), I would get a whole different car. If you're gonna be reinvesting all that money, it doesn't make sense to me to buy the same car again. It seems like your disappointed with the performance aspect of the LX, the SI isn't that big of a step up.

My $0.02. Get a mazdaspeed3 or something along those lines, the motor mount issue is now recognized and I don't see how they won't be fixed on the 08s, and ppl w/ the 07s are stating that people with ms3's built after a certain date aren't experiencing motor mount breakage. For ~1-2k more you'll get a fair amount more of horsepower, a TON more torque, a more refined interior...

[Yodums]

Originally Posted by garrnew

I've slowly come to the realization that I should have bought an Si rather than the '06 LX. I was too focused on $ at the time. So I'm looking to trade it in for an '06 or '07 Si (new or used). I've had it about a year with 20000 mi on it and still owe Honda a good amount.

Has anyone done this? Or know how much $ I stand to lose on the deal? I'm worried about depreciation (with dealer markdown for trade-in), interest I've already paid and the initial costs I paid for the LX and stand to pay for an Si (GAP, extended warranty, TT&R, etc.).

Basically, is it worth it???

I've done it. If in any way possible, sell your LX privately. You'll get the most out of the vehicle that way. Unfortunately, I decided not to do that and my dealer gave me a pretty low ball offer, because they knew I wanted a taffeta white coupe so bad. I think you can minimize your debts by selling the car privately and looking for a possible car nearby via these forums classifieds. There are people who have very reasonable asking prices, sometimes with modifications.

[garrnew]

After reading some past posts, it looks like the tax savings from the trade-in almost make up for the potentially low offer (although a good offer with tax savings would be nice).

It just looks like having this LX for a year will have been a real expensive lease since I'm still in the gap then it's like starting from scratch buying the Si.

Is there any benefit to the dealer for taking my LX and selling me an Si that they would be willing to negotiate trade-in value, APR, etc? Any salesmen reading this? Help!?

[Snowwolfe]

Doest matter what anyone here tells you about what the dealer may or may not do you need to talk to the dealer.
But you will always be ahead by selling your car yourself and then negotiating a new deal on the SI. With luck you should be able to get about $15,000 for your LX. $14,500 should be easy if it is an auto, $14,000 for a manual. This is assumming it looks good and has never been wrecked.
Don't put yourself into the postion where you owe more on a car than what you paid for it. It is a hole you will not be able to dig out from for years to come.
If you can not afford the SI then keep the LX until you can save up more money.

[07civicex]

Well Ive gone from an 05' scion xB to an 06' Element EX AWD to an 07' Civic EX sedan (auto)..... all in the course of 2.5 years

When I went from the xB to the Element I had about a $2500 down payment and bought the Element for $19,950. Drove the Element for 8 months and decieded that getting 20 MPG in a 4-cylc. honda was no fun. Put an add in the paper asking $19,650 (KBB private party at the time was $22,650) and sold it a week later for $19,500. I ended up getting $4500 back in cash (so basically got most of my payments + downpayment back)

Rolled the $4,500 into the Civic. Bought the Civic for $19,200 OTD put $4,000 down (kept some cash for fun) and now owe $14,000 after 6 payments!!!

The Civic books for some outrageous ammont $21XXXX on KBB. So If I sold it for 18,900 tomorrow I would still get $4,800 back...

This is why I stick with Hondas and Toyota's because everytime I switch- my equity goes up!

I will be switching to an 08' xB probably withing 12 months if my sunvisors in my civic keep breaking!!

My point is this- If your in the same shoes as im in- i would switch. But I have also contimplated an SI- but the higher insurance rates combined with premium fuel AND less fuel economy for 57 extra horsepower at 5500RPM doesnt seem worth it to me....

I would look into a used Nissan Z or an Ifininti G35 coupe! My mom just got an 07 G35 coupe sport and aero package- NICCCCCCCCEEE

[JeShUa]

If you're in the market, its sure worth the extra $ to spend initially on it. But trading in your car for a new Si would be about 6k extra. Its not worth it to me... thats what you need to ask yourself. I'd rather wait a few years when my car depreciates slower.. so then I can get a NEW model Si for what 8k? And my car is in worse condition :]. Lol.. idk.. just a thought.

[ScottPrindle]

test driving a civic then owning an si... i would make the change. i love my si

[CivicKid19]

I bought an 07 Ex NHBP coupe, because i owned a 00 EM1 Si and it was totalled i got rear ended by an explorer and broke my chasis and hit the car in front of me @ the traffic light intercooler, pipings, n turbo was gone...so the cost of fixing the car was more then the value...I went to dealer in november of 06 n wanted an SI originally and they told me 2-3k over sticker and a waiting list of 3 months or so....I needed a car asap and got the EX. I love it, now regarding the trade in for an Si im paying $255monthly and $130 insurance....i dropped $5,500 on the Ex...now if i were to trade in my car now with 16,000mi on it id have to drop $8000 more to keep my payments at the current payment....so it wasnt worth it for me...the funny part is as I was signing the papers the 1st Si sedan rolled into the dealer showroom already sold...the next morning the car was GONE!!! Moral of the story just keep ur car...ur only gonna spend more money buying n tuning an Si cuz there is alot more for the FG2 then our FG1's...Good Luck!

[Civic Pride]

I have an LX also and have spend about 4k on it in mods, if i where to trade it in I will lose lots of money, like someone else said just wait for the future model Si's to come out.. or if you want more power just add nitrous.

[JeShUa]

Nitrous does not add power.. it will give you a boost in the 1/4 or on the dyno.. but daily driving wont be more spirited.