Driven to get a good used car Sioux City Journal
DEAR BRUCE: Our last used car (13 years old) appeared to be in decent condition when we bought it, but it bled us dry on repair costs before it finally died. We thought we were being prudent with our finances by buying a used car, but this one ended up being a money pit. This experience has motivated us to look for a much more dependable used car to replace this one. We are using Consumer Reports as a source for reliability data so we won't wind up with another lemon. A Honda Civic is appealing to us as a very reliable/durable car.
Conventional wisdom says the value of most new cars goes down dramatically over the first three years, but that doesn't seem to be the case for Hondas. According to Kelley Blue Book, a 5-year-old Honda Civic LX Sedan 4D with 57,500 miles from a dealer should cost $15,765 (81 percent of the new price). A 2-year-old Honda Civic LX Sedan 4D with 24,500 miles should go for $19,215 (99 percent of the new price). A new 2012 Honda Civic, with zero miles and a full warranty, costs about $19,425. So does it really make sense to purchase a Honda or similar high-reliability car used? What are your thoughts? -- M.T.
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