Honda Ridgeline Owners Club Forums banner

1 - 17 of 17 Posts

·
Registered
Joined
·
6 Posts
Discussion Starter #1
I'm looking at a 2017 Sport (black) in northern New England with 62k miles. The Carfax provided by the dealer says 1-owner, fwiw. It was in an accident, but the report indicated the air bags didn't deploy, and the dealer says only the front bumper was replaced. Also, the report shows all scheduled maintenance was performed at a dealership (it was leased). They're asking $21,600. What's a good price for this? If anyone else bought something similar, let me know what you paid if you don't mind.
 

·
Registered
Joined
·
1,895 Posts
No, a new 2019 is about 28k. All that use and an accident for only a $6300 discount. Also, early 2017's had a harness recall if this is one of them I'd definitely pass. If the vin number is less than 10,000 or so it's one of them.
 

·
Registered
2019 RTL-T Forest Mist Metallic
Joined
·
203 Posts
Why is the harness recall a big deal? Dealer probably fixed it already or will if it still needs it. Would Carfax tell you if something like that was still pending?

What does kbb say?
 

·
Registered
Joined
·
6 Posts
Discussion Starter #5
Would an offer of, say, $20k "off the lot" (all dealer fees included--I pay tax/title/reg. myself) be considered a bit low-ball based on kbb, or? Figure the slightly high mileage (20k/year) should take off a couple bucks, or not? Thanks for any thoughts!
 

·
Registered
Joined
·
306 Posts
I would pass at that price for a 17 @ 28K, with 62K on it, not to mention the accident of unknown extent.
 

·
Registered
Joined
·
99 Posts
Would an offer of, say, $20k "off the lot" (all dealer fees included--I pay tax/title/reg. myself) be considered a bit low-ball based on kbb, or? Figure the slightly high mileage (20k/year) should take off a couple bucks, or not? Thanks for any thoughts!
This is a horrible deal.
As someone else said, you can buy a new 2019 Sport for ~$28K. So let's do the math...

Let's assume you drive a vehicle to 150K miles before getting rid of it.
This 2017 model has 62K miles, so only 59% of useable life left.
Multiply the usable life left (.59) by the price of a brand new model with 0 miles ($28K) and you get $16,427.

$16,427 is the absolute most you should pay for that used truck.
And that only takes into account the discount you should get due to the mileage. I would pay even less than that for a truck with accident history.
 

·
Registered
Joined
·
791 Posts
This is a horrible deal.
As someone else said, you can buy a new 2019 Sport for ~$28K. So let's do the math...

Let's assume you drive a vehicle to 150K miles before getting rid of it.
This 2017 model has 62K miles, so only 59% of useable life left.
Multiply the usable life left (.59) by the price of a brand new model with 0 miles ($28K) and you get $16,427.

$16,427 is the absolute most you should pay for that used truck.
And that only takes into account the discount you should get due to the mileage. I would pay even less than that for a truck with accident history.
I like that kind of practical math, but the truck will be worth some $ with 150k miles on it. If that's $4,573 you're back to break-even in a use vs. cost analysis, right?
 

·
Registered
Joined
·
99 Posts
I like that kind of practical math, but the truck will be worth some $ with 150k miles on it. If that's $4,573 you're back to break-even in a use vs. cost analysis, right?
Resale value doesn't need to be a part of the math, because both trucks (whether you buy new or used) will be worth something after 150K miles, making it a wash.
Resale will never tip the scales towards used. If anything, factoring resale will make the used vehicle an even worse deal...
  • Used Vehicle - When you sell at 150K miles, it's advertised as a 2-owner vehicle, with incomplete maintenance/repair history, unknown driving history, incomplete documentation, ect.
  • New Vehicle - Advertised as a 1-owner vehicle, garaged/well cared for its entire life, 100% documentation of all maintenance/repairs, ect.
The latter will clearly be easier to sell and net you more money.

There are also several other factors that make buying this used vehicle a much worse value than buying new...
- Prior accident and unknown maintenance & driving history, No B2B or powertrain warranty, No roadside assistance, Higher maintenance/repair costs (the cheapest miles, 0-62K, are already used up)

Another often overlooked expense of buying used is higher transaction costs...
- If the poster drives 14K miles/year and replaces the vehicle after 150K miles, this truck will only last 6.3 years.
So in 6 years, they will have to buy another car. This means paying yet another round of dealer doc fees, sales tax, registration/title/tag fees
- If you buy new, the truck will last 10.7 years, dramatically reducing the amount of transaction costs you end up paying.
 

·
Registered
Joined
·
6 Posts
Discussion Starter #10
Then there's supply and demand. E.g., haven't seen any 2017 Sports w/around 60k miles anywhere close to $16.4k out there via national searches.
 

·
Registered
Joined
·
99 Posts
Then there's supply and demand. E.g., haven't seen any 2017 Sports w/around 60k miles anywhere close to $16.4k out there via national searches.
Then this is a clear indication that you should buy NEW instead of used. Why are you so set on buying used?

Don't let the lower upfront sales price fool you.
This used car will cost you THOUSANDS of dollars more than the new model in the long term.
 

·
Registered
Joined
·
1,895 Posts
Another point is that ..9% financing is available on the 2019. These should I buy threads usually fail to change the OP's perspective.
 

·
Registered
Joined
·
99 Posts
Can't find a '19 Sport AWD for $28k. Where can that deal be found?
When you cay you "can't find" that price, how are you getting your prices?
Are you just looking at the advertised prices on dealer websites? If so, that is your problem.

On cars.com alone, there are nearly 1000 2019 Sport AWD units available nationwide.
Since not all dealers advertise on that site, there are probably double that available.

Research the effective methods used to get the best price on vehicles,and you will be able to get a new Sport for that price.
 

·
Registered
Joined
·
791 Posts
Can't find a '19 Sport AWD for $28k. Where can that deal be found?
When searching for my 2019 RTL (bought in November) I sort of inadvertently wandered into the TruCar site, and was first appalled because dealers immediately started proposing prices via email, but actually it really helped. My own local dealer shot me a very competitive price, and in fact I got it for a few hundred below that price. That last discount happened because I said "there are lots of people buying them for that prices minus X - see it every day in the Ridgeline owners group". When you go to a dealer knowing you can get it for XYZ price, and you're pretty much OK with that known price, you're confident - so much easier than starting cold, at least in my experience. Instead of using TruCar (or another service) you could just look up recent prices paid by ROC members - same basic dynamics.

Good luck, whichever way you go!
 

·
Registered
Joined
·
791 Posts
Nice ideas, Pleease...and thanks! :)
You're welcome - hope it helps.

I'm not a real confrontational kinda guy, so this helped me. Learned the method 2 years ago when buying a subcompact tractor. Hung around a group where people were posting what they paid - so had a clue what "market" price was, though in fact it varies by location and individual dealer's willingness to flex - and there was a dealer who would quote a price and deliver anywhere. Having that quote in my pocket - knowing already that I could and would get it for that - I was able to get "close enough" with the dealer 10 minutes away.
 
1 - 17 of 17 Posts
Top