My USED car is worth more NOW then when I bought it NEW!

[apoppin]

Kinda bucks the trend, huh?

I bought a 2002 Kia Rio over a year ago brand new for $5988. Looks like even with 25K (trouble-free) miles I can easily get (well) over $7,000 for it NOW! :Q

😀

This is the SECOND time this has happened to me. In both cases when I bought new, the MSRP was really low and then jacked way up over the next 2 years.

Only thing is, what could I get for $7K that is better? (I still have 75K miles left on the warranty)

 

[AsianriceX]

the fact remains...it's still a Kia

j/k 😀

it's always nice to have a profitable investment, especially for cars since they depreciate really quickly.

 

[GasX]

you overpaid when you bought it and whoever buys it from you, is REALLY gonna over pay...

 

[CurtCold]

63 Ford Falcon bought in 91, for $100, drove home. Imput $1000 worth of labor, bondo, paint. I'm sure it's worth more than $1100 now. 🙂

 

[apoppin]

Originally posted by: Mwilding
you overpaid when you bought it and whoever buys it from you, is REALLY gonna over pay...

Why? ANY car with a 100,000 mile warranty has VALUE. 25,000 trouble-free miles is VALUE already gained.

😉

I have a feeling Kia is going to surpass Nissan and Toyata eventually (in every regard - especially value) as they are owned by Hyundai who is determined to enter the US market in a BIG way.

Your car is probably way-overpriced. 😛


EDIT: That '63 Falcon is a CLASSIC in every respect. (and no "smog" in CA required) 😀
However, we were especially discussing NEW car buying and bucking the "resale trend".

 

[Pastore]

Same thing happened to my 96 Beretta... when I bought it in 99 blue book was 8,300.... now, its 8,900.... not bad...

 

[rahvin]

Originally posted by: apoppin

Originally posted by: Mwilding
you overpaid when you bought it and whoever buys it from you, is REALLY gonna over pay...

Why? ANY car with a 100,000 mile warranty has VALUE. 25,000 trouble-free miles is VALUE already gained.

😉

I have a feeling Kia is going to surpass Nissan and Toyata eventually (in every regard - especially value) as they are owned by Hyundai who is determined to enter the US market in a BIG way.

Your car is probably way-overpriced. 😛


EDIT: That '63 Falcon is a CLASSIC in every respect. (and no "smog" in CA required) 😀
However, we were especially discussing NEW car buying and bucking the "resale trend".

Hyundai has been trying to get a foothold in the US market for over a decade. They have yet to succeed. I also have a feeling they are going to lose a boatload of money to the horsepower class action law suits that were just filed. Kia will never even be close to equivalent to toyota.

 

[RossMAN]

Add $3,000 and buy a clearance brand new 2002 Hyundai Elantra GLS with all the options, it's about 1-2 steps above the Kia Rio.

 

[Antisocial Virge]

When I was a kid we were friends with a guy who ran a used car lot. He let us test drive a car that he was gonna sell us for $1100. We drove it to another used car lot, he offered us $3300. We bought the car. 😉

 

[Lucky]

Why? ANY car with a 100,000 mile warranty has VALUE.

Unless the company goes out of business. I remember reading an article the chicago tribune put out a few months ago on Kia, and how the chicago area dealerships were going through some extremely tough times, especially with regards to getting Kia to cough up repair parts.

 

[Stark]

you're bragging about owning a kia?!? 🙂

 

[Ryan]

My dad bought a 2000 Honda Civic EX in Aug. of 2000 for 14k even (after 2 days of barganing). After 20k miles, it's now worth $15,100 🙂

 

[ElFenix]

<rant>commuter cars are NOT an investment. this is part of the problem with people whining about the return on them. you don't expect to get anything for your TV when you sell it, do you?</rant>

 

[SSP]

Kia... boo! 😉

 

[Ultima]

Originally posted by: Mwilding
you overpaid when you bought it and whoever buys it from you, is REALLY gonna over pay...

$6000 for a car with warranty is pretty damn good. What else can you get for that price, a 94 civic? Think about it, brand new car 🙂 Maybe not much car but it will get you to work, school, and pick up the groceries. It's better then the bus.

 

[StageLeft]

Originally posted by: Ultima

Originally posted by: Mwilding
you overpaid when you bought it and whoever buys it from you, is REALLY gonna over pay...

$6000 for a car with warranty is pretty damn good. What else can you get for that price, a 94 civic? Think about it, brand new car 🙂 Maybe not much car but it will get you to work, school, and pick up the groceries. It's better then the bus.

Yeah it's no merc but $6k for a car with 100k warranty is a bloody hot deal if I ever heard one.

 

[scorp00]

Originally posted by: Skoorb

Originally posted by: Ultima

Originally posted by: Mwilding
you overpaid when you bought it and whoever buys it from you, is REALLY gonna over pay...

$6000 for a car with warranty is pretty damn good. What else can you get for that price, a 94 civic? Think about it, brand new car 🙂 Maybe not much car but it will get you to work, school, and pick up the groceries. It's better then the bus.

Yeah it's no merc but $6k for a car with 100k warranty is a bloody hot deal if I ever heard one.

I seriously doubt it's 100k everything included warranty. It's probably 36k for everything, then engine and transmission covered for 100k. My buddy has a kia with 28k on it and it's constantly in the shop for repairs.

My dad bought a VW bug in the 70's for $1500, then sold it in '92 for $1800, 250k+ miles later. Inflation caught up with depreciation and won. 🙂

 

[StageLeft]

I seriously doubt it's 100k everything included warranty. It's probably 36k for everything, then engine and transmission covered for 100k. My buddy has a kia with 28k on it and it's constantly in the shop for repairs.

My dad bought a VW bug in the 70's for $1500, then sold it in '92 for $1800, 250k+ miles later. Inflation caught up with depreciation and won. 🙂

Yep the 100k is just powertrain, but still a nice deal 🙂

 

[kt]

Problem is.. I don't know who would pay $7K for a Kia tho.

 

[Beau]

Speaking of selling cars, anyone interested in mine?

 

[StageLeft]

Originally posted by: Beau6183
Speaking of selling cars, anyone interested in mine?

Why sell?

 

[0roo0roo]

Originally posted by: rbloedow
My dad bought a 2000 Honda Civic EX in Aug. of 2000 for 14k even (after 2 days of barganing). After 20k miles, it's now worth $15,100 🙂

how does that make sense? u can get a new 02 ex for 15k i bet😛

 

[rubenswm]

same type of deal with Acura Integras which they stopped making in 01.

A 1998 Integra GS-R has only depreciated 1-2%.

 

[Beau]

Originally posted by: Skoorb

Originally posted by: Beau6183
Speaking of selling cars, anyone interested in mine?

Why sell?

Trying to get completely liquid. I want to own a car outright, no more leasing. I'm going to buy my grandpa's '82 Porsche 924 and fix it up. Always wanted to do that anyway.

 

[apoppin]

Originally posted by: kt
Problem is.. I don't know who would pay $7K for a Kia tho.

Well, the funny is - when I first bought it, I went to a nice restaurant . . . when I got out there was an identical Rio parked next to mine and the owner was there getting out to eat - she remarked on how nice her (and my) car was. She said "I only paid $11,000 for mine how much did you pay?" She didn't care much for my answer. 😀

Yes the warranty is 60,000 miles basic coverage and 100,000 miles powertrain.

you're bragging about owning a kia?!? 🙂

No, I am commenting on having "made" $2000 on an inexpensive car that I have already driven for 15 months and 25,000 miles trouble-free. That is a "trend-bucker" and quite unusual (except I did this once before with a brand new car). 🙂

Kia will never even be close to equivalent to toyota.

With the way Toyota is going downhill, Kia will surpass it. 😛

And there is no more danger that Kia will go out of business than any other established car manufacturer.