The amazing Honda Civic

Since a lot of people and the media are complaining about high gas prices and a depressed economy, I thought I’d share a true automobile success story.

It all began several years ago when we still lived in good ‘ole Buffalo. In October 2004 we traded in our 2003 Honda Civic Hybrid for a new 2005 Honda Civic EX (non-hybrid). We actually made money on the Hybrid, since we received federal and New York State tax benefits and had no repairs and very little gas during the time we owned it. So that is success story number one.

I paid about $17,500 for the new Civic EX (not including trade-in value of the Hybrid). That was a fair amount for a Civic, and the only thing that would have made it more expensive would have been automatic instead of manual transmission. But anyway, even though it was relatively expensive, it was really worth it.

All along I have been checking the Kelly Blue Book value and also the estimated value on Edmunds.com. It has barely depreciated at all since I bought it. Even three and a half years later, it is still worth over $15,000! Add to that the fact that it gets 35 miles per gallon city driving (I avoid highways on my commute, but still get great gas mileage). Plus, I have not spent a single penny on maintenance except routine oil changes and tire rotations (so about $50 a year).

And in California used Civics are in even higher demand, especially with gas prices continuing to go up. I have seen my exact car selling for $17,000!

I know we are not talking tons of money here, but it still amazes me that it is possible to buy a new vehicle that you barely have to spend any money on. If I sold it today, it would be like I had driven the vehicle for almost four years and it cost me basically nothing (except some gas and insurance).

I also want to point out that this will only happen with a Honda, or maybe a Toyota. So even if they cost a little more upfront, it is well worth it in the long-run. Not to mention all 4 of our Hondas over the years have absolutely never had a single mechanical issue. Only a few parking garage mishaps :)