Selling a late model car in the current market - what to do?

I have a love/hate with my 10G Civic Si. It's not the Si of years past; but, damn if it isn't a solid DD with lots of creature comforts and a return of 33MPGs with very spirited driving. 

I also have like 5 cars in my stable. All over 15+ years old minus the Si. Daily driving them requires some level of patience and sacrafice. 

But I bought this Si for $24k. CARMAX is offering me $27k and I owe significantly less on it. It would be a nice chunk of change plus I've been eyeballing a new truck. 

My concern is this market isn't going to stablize for at least another 18 months. Supply chains are being manipulated to artificially create shortages (i.e. lumber and microchips) which is causing a huge butterfly effect, thus raising the used car prices to astronomical highs. Trying to find a new car at the moment that has any decent options is next to impossible here in SATX. 

What's the hives thoughts on ditching a car for more than you paid and more than what the MSRP was? 

$$ is always good. 

I sold my 2018 Tacoma for a lot more than I paid 3 years ago and abused for 45K miles on my farm. BUT I also had to buy a replacement. So all that "profit" didn't mean much at the end. My 21 Tacoma cost me a lot more. 

So end of the day, if I sold my 18 Tacoma for what it was worth pre covid, my 21 tacoma would be discounted pre covid. 

The delta is the same. Made no difference in my life, except I had to go 11 states away and special order the Taoma and wait 2 months. Before Covid, I could walk down to dealer and get 10% discount.

Dumped my 11 Si last year in Covid. Guy came 4 states away. Made $4500 after driving it 11K miles in 6 months.  

Good luck.

DirtyBird222 said:

I have a love/hate with my 10G Civic Si. It's not the Si of years past; but, damn if it isn't a solid DD with lots of creature comforts and a return of 33MPGs with very spirited driving. 

I also have like 5 cars in my stable. All over 15+ years old minus the Si. Daily driving them requires some level of patience and sacrafice. 

What's the hives thoughts on ditching a car for more than you paid and more than what the MSRP was? 

I just did the same thing with my 10th gen Si and felt pretty much the same way about it. I'm now driving an '97 Integra GS-R and working on getting the fleet of 5th/6th gen Civics that I have back on the road. I don't regret it at all. 

1.  Sell the Honda.

2.  Bank the profit until car supplies balance.

3.  Siphon off money as needed to keep at least one of your other cars reliable.

4.  Win.

DWNSHFT said:

1.  Sell the Honda.

2.  Bank the profit until car supplies balance.

3.  Siphon off money as needed to keep at least one of your other cars reliable.

4.  Win.

This. 

If you have that many other cars, it shouldn't be too difficult to keep at least 1-2 in good running condition for a DD. 

Ah yes, the FORBeS theory of economic vehicle ownership - Fleet Of Redundant BeaterS.

In reply to maschinenbau :

I did not know the name, but I am a subscriber of the FORBeS

In reply to DirtyBird222 :

The key here is:  Do you have something else you could drive for the next 18 months?  Is it reliable enough and enjoyable enough to drive for that period of time?  If so, then yes, selling might be a great option.  I'm thinking of unloading my Colorado since it's similar to your Honda in price vs. paid and order a Maverick. 

If you would have to replace the Honda immediately, selling might be a terrible choice as you'd have to go get something else overpriced.

I think all of TX is like SATX right now on demand vs. price of most anything.  So many people are moving to TX and then combined with the "shortages" we are in a terrible situtation.  TX is well on it's way to being the next CA economically at this rate. 

In reply to John Welsh :

I have strayed from the path, but will be subscribing again soon. 

Sell it.  It's a great time to start commuting on a bike.

rustomatic said:

Sell it.  It's a great time to start commuting on a bike.

Yes a 17 mile commute each way in Texas, in the summer, with no sidewalk or bike lane access, and through some of the worst neighborhoods in San Antonio, sounds splendid lol. 

You guys are making such valid points and I hate it. Where are the hoarding enablers at? 

I have my 2001 Sequoia here which is reliable, comfortable, and has been my DD in the past. The S2000 and M3 are still in FL and would likely hate these Texas roads. 

I have this offer until the 18th so still some time to chew on it. Throwing that money into Bitcoin might not be a bad idea either while its down. 

"Throwing that money into Bitcoin might not be a bad idea either while its down. "

Out of the frying pan and into the fire.

Gas prices are going to skyrocket, you need a dependable driver that delivers decent economy for commuting.

bentwrench said:

 

 

Gas prices are going to skyrocket, you need a dependable driver that delivers decent economy for commuting.

You are telling me that now! My fleet average is down to 8.1 MPG (40K a year driven), with the two recent acquisitions!

In reply to rustomatic :

Commuting by bike in a large TX city is like playing Russian Roulette with worse odds.  I love my bikes, but committing is a big no go here.

DWNSHFT said:

1.  Sell the Honda.

2.  Bank the profit until car supplies balance.

3.  Siphon off money as needed to keep at least one of your other cars reliable.

4.  Win.

That assumes prices will go down in the future.  While I don't have any skill in fortune telling.  I am aware that a rise in prices may not be immediately be followed by a decline in prices. 
      Ford Model T's that we're not in good shape but ran once sold for $5.