| hhwc |
Just checked on Edmunds what a '01 base MDX is worth after 12000 miles. What I found was amazing! Trade in was $31k, Private party was $32k, and dealer retail was $35k!!
MSRP for '02 base is $35,200 (w/destination charge)!!
I did this after reading a thread in a Car and Driver forum where someone was complaining they lost almost 50% in a year on their Jag.
Amazing.... |
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| rwx |
| I think I read an article that said Honda likes to manage supply so that it is always less than demand. When they expand factory capacity, they do it progressively. I think this helps the high resale value of MDX here. |
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| Harry |
:4: This is real good news:2:
Thanks for the heads-up |
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| Harry |
Oh!
I just remembered, someone on this board just sold their 01 with 20,000 mls for 31,500 |
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| crete |
quote:
Originally posted by hhwc
Just checked on Edmunds what a '01 base MDX is worth after 12000 miles. What I found was amazing! Trade in was $31k, Private party was $32k, and dealer retail was $35k!!
MSRP for '02 base is $35,200 (w/destination charge)!!
I did this after reading a thread in a Car and Driver forum where someone was complaining they lost almost 50% in a year on their Jag.
Amazing....
So it looks like even with the debut of the Honda Pilot, resale on the MDX wasn't hurt that much as least for the 2001's. Although we'll have to wait and see about resale on 2002's as I don't believe Edmunds has a value set on them yet.
Still great news!:cool: |
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| TPRENDER |
I see these slightly used MDX's listed at or near new prices and I can't imagine why you would want to bother with a used one. I guess it depends on availability and also that the persons listing the car might have paid above MSRP in the first place.
I used to have a philosophy that a one year old car with 12k miles was a better buy because of the intial drop off in value but with MDX that doesn't apply.;) ;) :31: |
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| srpbep |
I suspect that a major factor with the real high resale prices is, once again, a function of supply and demand:
Who is selling a used MDX? No one I know!! Owners are happy, tickled, in love, yada yada yada. Soooo, what would you replace it with except a newer MDX??
Maybe if the 2003s have new killer features, then ???? But until then, I don't see an owner doing a "voluntary separation"! The VERY FEW resales seem to be due to extenuating circumstances [e.g. out of work, etc.]. |
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| msu79gt82 |
The 8/6/02 Wall Street Journal reports that the MDX leads its class in resale value :2:
For the first time, Automotive Lease Guide, the auto industry's main arbiter of how well car values hold up, is ranking brands by their predicted resale value. The results are to be formally released today (8/7/02).
Here is what the journal published:
segment Best Model Asking Price After 3 Years
Compact car: Mini Cooper $19,800 $12,078
Midsize car: Volkswagen Passet $28,872 $15,013
Sports car: Porche 911 $87,500 $48,125
Near luxury car: BMW 3 Series $39,257 $20,806
Luxury car: Mercedes CLK $51,275 $30,765
Minivan: Honda Odyssey $26,876 $15,051
Subcompact SUV: Honda CR-V $20,540 $10,681
Compact SUV: Acura MDX $37,500 $21,375
Fullsize SUV: Toyota Sequoia $37,842 $18,921
Compact truck: Toyota Tacoma $21,200 $10,812
Fullsize truck: Toyota Tundra $25,653 $13,083 |
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| msu79gt82 |
There were two photos with the article; the MDX as the example of excellent resale value :7: and the Isuzu Trooper as the example of poor resale value :28:
They declared Volkswagen the mass market winner and Mercedes the luxury market winner.
The mass market top 5 in order was: Volkswagen, Honda, Toyota, Subaru, and Nissan.
The luxury market top 5 in order was: Mercedes, BMW, Acura, Lexus, and Infiniti.
Thus Honda/Acura finished ahead of Toyota/Lexus in all categories:1: |
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| msu79gt82 |
The Wall Street Journal stated that, "In much the same way the Kelly Blue Book is often quoted for a vehicle's trade-in value, the ALG's figures are widely used by banks and finance companies when setting pricing terms for leases."
Thus these figures as as official as you can get and the MDX is doing extremely well!!:15: The results give customers a sense of which auto makers consistently score well across their entire lineup according to the WSJ.
Interestingly the article says that residual values can be kept high by NOT selling to car-rental companies and offering few incentives. Specifically both Volkswagen and Mercedes (the overall segment leaders) benefited from this policy. |
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| crete |
quote:
Originally posted by msu79gt82
Here is what the journal published:
segment Best Model Asking Price After 3 Years
Compact SUV: Acura MDX $37,500 $21,375
Fullsize SUV: Toyota Sequoia $37,842 $18,921
Compact truck: Toyota Tacoma $21,200 $10,812
Fullsize truck: Toyota Tundra $25,653 $13,083 [/B]
How can they list the MDX... an SUV that can seat up to 7 passengers as "Compact". This says to me that the Toyota Sequoia listed as a fullsize SUV can then seat up to 10 passengers.:2: |
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| JTM |
| went over to kbb website. it indicated a 01 MDX with tourinng + running board will be retail (used) as over 38K. This is the same price that you can get a brand new 02 MDX with touring. |
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| RedMDX |
| There are several BRAND NEW 2002 touring models showing on Ebay right now for $33K and some change.....sales like these can't help resale! I wonder if the 2003 release and the anticipated changes will "tank" 2001/2002 resales significantly? |
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| srpbep |
quote:
RedMDX wrote:
There are several BRAND NEW 2002 touring models showing on Ebay right now for $33K and some change.....sales like these can't help resale! I wonder if the 2003 release and the anticipated changes will "tank" 2001/2002 resales significantly?
Couple of comments here:
** The vehicles on Ebay are CANADIAN not USA. They mention in the ebay add "Honda may stop honoring factory warranty". There other threads dealing with this topic. As I understand it, Honda will not stop honoring the factory warranty because they never started honoring it here in the USA on an MDX built for Canada and imported into the USA. IMHO, the ebay add was very misleading.
** The MDX will [probably] hold its value well in comparison to others in its class . You MUST expect the vehicle to decrease in value over time [most vehicles do]. Thus it is reasonable to expect that the MDX will decrease a lower PERCENT of its original purchase price over time than other vehicles [e.g. Hondas retain a higher pct of their original purchase price over Fords time, etc.].
This does NOT mean that the MDX will only depreciate $1,000-$2,000 per year though. If you noted the figures above:
"Segment Best Model Asking Price After 3 Years
Compact SUV: Acura MDX $37,500 $21,375
The MDX is predicted to depreciate by $16,125 over three years. That is $5,375 per year on average. That "ain't chump change", simply better than others in its class!! This is why many people lease if they turn their vehicles over frequently [e.g. every 3 years]. The depreciation slows down after a while and then makes more and more sense to buy [I am not knocking buying, we bought our MDX 'cause I hope to keep it for a while]. |
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| WCTB |
| Does anyone else have any more actual stories about resale values? I have seen edmunds and the wall street journal article, but I would like to hear about actual sales. |
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| WCTB |
| Does anyone else have any more actual stories about resale values? I have seen edmunds and the wall street journal article, but I would like to hear about actual sales. |
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| stevecalg |
My Calgary, Canada dealership told me that one of their customers had a '01 MDX that he kept for a little over a year. Then he sold it to someone in the US for $50,000 CDN, or over the original MSRP in Canada!
:D |
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