Terrible Resale Value?
 

Is it just me or does our twins have a terrible resale value?

I have had my car casually posted on and off for a couple months without a single legit person interested. Start the listing at $19k and slowly lowered it to $16750 now.

When I first listed there wasn't many private ads, listed at $17-19k. Now there are 10 listed at $15k-16k.


I think the two major issues are:

1. These cars are mainly bought by 20 year olds with no cash or are too stupid to go to the credit union. So majority are buying from dealers instead of private sales.

2. 2017's are now out. Dat red manifold yo!

Thoughts?

It all depends on mileage, condition and any mods you done.
The new 2017 does put a dent on price.

If you want top dollar, sell a 100% stock car. The longer you wait the less you'll get.

Right now, there is a surplus of our twins for sale for a few reasons.

1. Leases for the 2013-2014 have ended. Generally people lease for 2-4 years.
2. Many who bought the car have found out that they gave into hype and no longer want the car.
3. Not enough damaged/riced out ones/high mileage examples since the production only ended in August and some dealers still may have some 2016's laying around brand new.
4. 2017's came out so many buyers are still attracted to lease rates since they lead to more affordable payments.

So yeah, right now it's easy picking for buyers. There is just way too many for sale that are clean with low KM's.

Give it 5-10 years. That is when the value will begin to balance out for clean examples with low miles and those will begin to get snatched up quicker with a higher price due to many falling into the following categories;

1. Damage titles on them.
2. Poorly modified examples.
3. High mileage
4. Abused/rough shape

Maybe we're all waiting for your Black Friday price.

A lot of it has to do with where you are. Last time I was out in California, I saw twins everywhere. Now it's about time for the low-attention-span population who bought all those cars to start selling. I would expect to see the market flooded, forcing prices down or causing it to take longer to find a willing buyer.

There weren't nearly as many sold where I am. I could list mine tomorrow and likely have it sold by the end of the week for more that you'll get.

Also, the numbers you posted don't sound to me like they're losing their value any faster than average. On the contrary, resale values seem to be holding up pretty well. Consider:

You have a 2013.

The 2017s are out.

That means you have a four year old car in model years.

The hard pill to swallow is that new cars typically lose between 40% and 50% of their value in the first four years. If you paid $27K for the car new, it should be worth around $15,000 according to the average depreciation curve. Add some if it has low mileage. Subtract a few thousand for your mods. Subtract even more since you tracked it, which implies abuse to the average car buyer looking for a reliable daily rather than a race car.

In the normal depreciation curve, yours should be worth around $12K on a good day. But there's still enough interest in these cars to have them selling around $16K, even in an area with a glut of them on the market.

Therefore, maybe you should count yourself lucky.

Funny if you guys want resale value it's gonna be Civic, Tacoma or 4Runner now those command value.


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3.9% of cars sold today are manual transmission.
Not many people want a manual transmission car.
Let alone a 2 seater coupe with low hp that comes from a small brand that just died.

Refreshed 2017 models were just released. Prior years always take a price hit when that happens. Not an ideal time to try to sell right now.

the KBB value of my '13 with 125k miles is only $6000. That's the same as a 2012 Camry. lol

It's a relatively cheap niche car. They don't sell many new, not because it's too expensive because not to many people see the point of owning one. The average person has no affinity with our hobby, see a car as an appliance and want a economical and safe box to transport whatever from point A to point B.
And if there is not much interest in buying them new, there is even less interest in buying them used, unless they are dead cheap and some poor young punk can mod and ultimately junk it.

I was considering trading my car in for a WRX and the dealership quoted me at 12K!!! O_o

Manual actually increases the value of these cars for the exact reason you mentioned. Not many cars are sold with manual today. The automatics are the ones that dealers/private sellers are having most problem with getting rid off since not many people want them in the used market.

You have to remember that the used and new car sales market are completely different with different types of buyers.

It's like Porsche 911 for example.
In the new car market, grey, silver, black, and white are the most popular....but that doesn't actually translate down the road into the used car market.

In the used market, the demand is higher for red/yellow examples since there is so few of them so they can charge a premium for them.

Maybe with longevity (age) comes some perspective.... but I never cease to wonder why people think that cars are supposed to hold value (i.e., high value) if the used vehicle falls into the category of "normal use." Unless a rig is unique (Nissan GTR, Lexus LFA, etc.) - and in most cases - low mileage (use), the expected percentage of depreciation is going to occur.

I understand that people work hard... try to spend their hard-earned dollars wisely and prudently... but for 99% of new car sales... this is not a case of "investing" money for some type of higher-than-normal return. Most cars are simply a mass-produced commodity that looses value as newer models are injected into the marketplace.

Try $12k with 56k miles 2012-2013 6spd.