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Honda Civic vs. Hyundai Elantra

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Comments

  • warnerwarner Member Posts: 196
    Here are the projected value retentions for the 2006 Civic EX and the 2006 Hyundai Elantra GT. According to this, after 2 years of ownership, the Elantra will have lost more than $10,700 of it's value while the Honda will have lost less than $8,700 of it's value almost making up for the cost difference between the vehicles. The difference is that with the Honda you'll have a car that's worth almost $11,000 and with the Hyundai you'll have a vehicle that's worth less than $7,000. That's a $4,000 difference after just 2 years. So the car that cost $2,000 more to buy is worth $4,000 more down the road.

    Warner

    4d Sdn GT ELANTRA - MSRP $17,439

    ALG Residual Value
    24 months 36 months 48 months
    $6,700 $4,775 $3,425
    38% 27% 20%


    4d Sdn EX CIVIC - MSRP $19,610

    ALG Residual Value
    24 months 36 months 48 months
    56% 45% 37%
    $10,950 $8,825 $7,325
  • backybacky Member Posts: 18,949
    I will respect those figures when I hear that most people buy cars at full MSRP.

    The Elantra GT is more like a $14,500 + TTL purchase for me with current rebates right now (not as good as they were 20 months ago). So there is about a $4000 difference up front between the Elantra GT and the Civic EX. So shouldn't the Civic EX be worth at least $4000 more down the road?
  • warnerwarner Member Posts: 196
    Understood. Just keep in mind that smart shoppers don't pay MSRP for the Civic, either - even today when the supply is a bit limited. While I didn't get a give-away price on mine, I did get more than $1,000 off MSRP. I expect that this Spring the prices will be at or around invoice pricing, so the numbers will be closer to real world.

    Warner
  • backybacky Member Posts: 18,949
    Yes, note that I took over $1000 off the Civic EX--a pretty good discount these days. Come spring, Civic prices should moderate, but who knows what will happen to the Elantra's prices? If it gets back to where it was in the spring of '04 (quite possible since an all-new Elantra is due next year), we are looking at closer to a $5000 gap between the GT Elantra and the Civic EX, or $6000+ between an Elantra GLS with ABS and moonroof vs. the Civic EX. The Civic is a great car, but that kind of difference is hard to ignore.
  • warnerwarner Member Posts: 196
    Agreed. It'll be interesting to see how it all pans out. I'm happy with my choice of cars and you seem happy with your choice. I'm sure that neither choice was a poor one.

    Warner
  • spmrebelspmrebel Member Posts: 130
    Hi all,

    I tend to agree with Warner on this one. I also agree that cars lose the most appreciation in the first 2 years.

    Anyway, in October of 2000 I bought a 2001 Elantra GLS for 13800 plus TTL. At the time of purchase this was a good deal and there were no rebates. It was an auto with moonroof, upgraded CD and mud flaps. I drove it for next 2 years and put 35K miles. The car was nearly in mint condition and I never had a single failure (oh I forgot a headlight bulb blew out). Anyway, I traded it in for a 2003 Suzuki Aerio SX in September of 2002. 1 month shy of it being 2 years old. The dealer originally only offered me 5200 for it but I worked him over and got 7200 for the trade. This at the time was a little under the KKB trade in value as I remember with those miles for a 2001 Elantra GLS. Also you need to note what type of car are you trading it in for is a part of equation. Had I decided to trade the Elantra for a more popular and in demand car such as the 03 Civic the dealer probably would have given me such a good price as did the Suzuki dealer did. Because I was doing the opposite - trading in a car that was in more demand that the Suzuki.

    Happy motoring
  • backybacky Member Posts: 18,949
    The key to your story is, "...there were no rebates." The Elantra was an all-new design in the fall of 2000 (like the Civic is today) and rebates and even discounts were hard to come by. But then the rebates and discounts came big-time, so a car like yours could be had for closer to $11-12k. That was the situation at the time you traded your Elantra in (I know, because I looked at trading my '01 in for a '03 at the end of '02 and again in late '03 since the rebates and discounts were so large then). And those rebates and discounts were in fact reflected in the low trade-in value you received. That is the price that people like you and me and warner, who buy a new design when it is first introduced, pay for that privilege.
  • spmrebelspmrebel Member Posts: 130
    Yea, but you cannot always count on a rebates to make up the difference in lost appreciation. Though I believe Hyundai is now matching both Honda and Toyota on the quality and reliability side they cannot match either one of them on there resale values for their cars. I know when I trade in my 05 GT for another car (maybe an 07 Elantra or the new Kia Optima) I am only expecting about 50% of what I payed for it which BTW was 12800 out the door with ABS/Moonroof/Auto/Mud Guards. And that price include TTL.
  • backybacky Member Posts: 18,949
    Yea, but you cannot always count on a rebates to make up the difference in lost appreciation.

    Sure, you can... if you buy with an eye to maximizing the rebates and discounts. So for example, I would not buy an Elantra with the current rebate picture. (At least, I wouldn't buy a new Elantra... when you buy used, the depreciation works in your favor.) But let's see what happens come spring. If the big rebates return, and I can get a loaded Elantra for between $11-12k, that could be too good a deal to turn down.
  • spmrebelspmrebel Member Posts: 130
    There is no guarantee that rebates from Hyundai would ever make up for the Elantra's unusual high depreciation as compared to other leaders such as the Corolla or Civic. Case in point is the current rebates on the 06 Elantra and there is no guarantee that Hyundai will give generous rebates like they did in first part of this year on the 06s.
  • backybacky Member Posts: 18,949
    Uh... who's talking about guarantees? You are right, there are no guarantees in the rebate game. You do your smart shopping and look for the best deal you can find.
  • doohickiedoohickie Member Posts: 949
    I probably bought my car at the nadir of rebates, when they were reduced in October. Even then, I am very please with the deal I got and think the car is well worth what I paid. I looked at Civic- briefly because I couldn't get a Civic hatch with A/T; they simply don't make them for the American market- but I was really kind of surprised at the lack of value for the money, especially considering the short warranty.

    If you're someone who trades cars in after 2-3 years, then maybe the Civic is a better value. But then again, I think anyone who trades their cars in every 2-3 years is not getting the best value out of their cars by a long shot. Cars- even the cheap ones nowadays- are designed to last for 100,000 miles or more. I put 117k on a Ford Aspire POS and it was still running great when I sold it. With regular maintenance, just about any car will last that long.
  • riposteriposte Member Posts: 160
    "make up the difference in lost appreciation"

    It's DEPRECIATION. Both vehicles will go down (DEPRECIATE) in value; neither will increase (APPRECIATE) in value.
  • riposteriposte Member Posts: 160
    Why not play with Edmund's trade in values, as well as their "True Cost to Own" calculator?

    It's quite a lot of fun to play with!
  • spmrebelspmrebel Member Posts: 130
    That was a typo but I think everyone knew what I meant. I definitely know that cars rarely appreciate. That is why I don't buy expensive cars.
  • spmrebelspmrebel Member Posts: 130
    I use KBB because I believe their is more reflective of real world trade in values.
  • mcapmcap Member Posts: 49
    Forget the books for a second. I just traded an 04 Ex manual civic in. Over two years and 21 K miles, it lost exactly 25% of it's value. Now that is great resale!!!!!!! I suspect that as prices on the 06 fall, the deals offered on trades will go down as well.
  • backybacky Member Posts: 18,949
    What was the original purchase price, and the sale price?

    I have lost a similar percentage over 2 years on my Elantra GT--but that is because I bought it at a large discount. I am wondering if a big initial discount has anything to do with the good resale price you got.
  • warnerwarner Member Posts: 196
    Forget the books for a second. I just traded an 04 Ex manual civic in. Over two years and 21 K miles, it lost exactly 25% of it's value. Now that is great resale!!!!!!! I suspect that as prices on the 06 fall, the deals offered on trades will go down as well.

    I traded in my '04 Civic LX manual and lost about 21%. (I paid $15,100 and got $11,900 in trade in) My car had 41,000 miles on it. You'll have a VERY tough time beating the Civic's resale value!

    Warner
  • doohickiedoohickie Member Posts: 949
    No argument. But I plan on keeping this car more than a year or two. After ten years, an Elantra is worth about $2000 less than a Civic. But new, the Civic sales price is much more than $2000 greater than the Elantra. So, if you trade in frequently, go with the Civic. Keeping it for a while? Go Elantra.
  • warnerwarner Member Posts: 196
    No argument. But I plan on keeping this car more than a year or two. After ten years, an Elantra is worth about $2000 less than a Civic. But new, the Civic sales price is much more than $2000 greater than the Elantra. So, if you trade in frequently, go with the Civic. Keeping it for a while? Go Elantra.

    Don't try after 5 years, though. And this logic holds true if you believe the Hyundai will have no more problems in those 10 years that the Civic. My bet would be on the Civic from a reliability and maintenance standpoint. I owned a 2000 Elantra Wagon and did have some problems with it inside of 4 years (and 82,000 miles).

    Warner
  • zodiac2004zodiac2004 Member Posts: 458
    I have lost a similar percentage over 2 years on my Elantra GT--but that is because I bought it at a large discount

    Did you actually trade your car, or are you talking WRT book values. If you think any dealer will offer you book values (in actual cash value, not overallowance) for your Hyundai in trade you are sadly mistaken.

    Go over to RWTIV and post the details about your car to get a true market value evaluation from the experts.
  • mcapmcap Member Posts: 49
    I paid 16,200 for the EX 5 spd sedan and received 12,200 on my trade 2 years later. My original deal was good but nothing special. It was invoice plus holdback and no more. And remember, most dealers are not that eager to aquire a manual trans trade ins. I don't think you can just look at books. A book is one thing, but getting a dealer to give you actual money towards your next car or getting someone to actually write you a check is a far different story. You will often not get anywhere close to book value. I had some mazda dealers offer 9k about a year ago!! Also a lot of dealers use Galves instead of KBB. The Galves prices are usually significantly lower. It's just hard to beat Honda!!!!

    On the other hand, I do think dealers are going very high on trades right now because their sales managers are tying their hands with regard to the price of the new civic. Trade is the only area where they have room. I think trade values will drop this Spring. But, I could be wrong.

    mcap
  • mcapmcap Member Posts: 49
    You should also recall that end of year discounts although great for your own bottom line, tend to reduce the value of trades. I had to laugh when Mazda dealers were trying to sell 1 year old proteges for 16,000. At the end of the model line, they were discounted at least $3,500. The price of a new one was far lower than 16,000. Not sure what they are thinking.
  • njdevil1njdevil1 Member Posts: 45
    hopefully your honda will be trouble free. we had no problems with the hyundais we own or have owned. our first one was a 1988 excel with 5speed. we drove it almost 200,000 miles and then gave it to our son-in-law. he drove it over the 200,000 mile mark. it got totaled when someone drove thru a red light. it still had the original clutch. when my parents bought a new honda accord ex in 1998 they had to have it towed to the dealership a few times because it would not start. the service department finally found a loose connection on the electric seats. we own both a 2005 elantra gt 4 door and a 2005 civic ex se. both with manual transmission overall we prefer the elantra. to us honda stands for Had One Never Did Again
  • warnerwarner Member Posts: 196
    hopefully your honda will be trouble free. we had no problems with the hyundais we own or have owned. our first one was a 1988 excel with 5speed. we drove it almost 200,000 miles and then gave it to our son-in-law. he drove it over the 200,000 mile mark. it got totaled when someone drove thru a red light. it still had the original clutch. when my parents bought a new honda accord ex in 1998 they had to have it towed to the dealership a few times because it would not start. the service department finally found a loose connection on the electric seats. we own both a 2005 elantra gt 4 door and a 2005 civic ex se. both with manual transmission overall we prefer the elantra. to us honda stands for Had One Never Did Again

    That's impressive! I don't have anything against the Hyundai at all...I just think that Honda builds a much higher quality vehicle. That's my opinion. And for people who don't keep their cars for 10 years, the resale value contest is NO contest. Everyone has different ideas about how long they'll keep their car for. Honestly, I don't know how long I'll keep my current Civic for...I thought I'd keep the 2004 until the wheels fell off, but ended up trading it in after only making 17 payments on it...go figure.

    Warner
  • midnightcowboymidnightcowboy Member Posts: 1,978
    The 2006 Civic Is light years ahead of the Hyundai Elanta. Checkmate END OF DISCUSSION.

    Ordered a 2006 Civic Si.

    MidCow
  • backybacky Member Posts: 18,949
    The Civic should be ahead of the Elantra. The Civic is a brand-new design, the Elantra is five years old. The new Elantra will be unveiled in a few weeks. Then we'll see how they stack up.

    Although I would really miss the driver's seat and traction control on my Elantra if I had to swap it for a Civic. Also, the Elantra 5-door beats the Civic 5-door in every way--because there is no Civic 5-door, in the U.S. anyway. :P
  • ctalkctalk Member Posts: 646
    The new Elantra will be unveiled in a few weeks. Then we'll see how they stack up.

    I wonder if Hyundai can create an Elantra as safe as the Civic. Honda set the bar quite high, and if Hyundai can match it, GREAT :D !
  • backybacky Member Posts: 18,949
    Yes, Civic has set the bar high so I hope Hyundai is up to that challenge. What they have done with the new Sonata looks good, but the IIHS tests haven't been released yet. One thing we do know is that the '07 Elantra will have ABS and side bags and curtains standard, like the Civic. It will be interesting to see if Hyundai ups the ante and offers ESC on the new Elantra. The other interesting thing about the new Elantra is that it could be closer to the Accord in interior room, than the Civic. Note that the Accent actually has more interior room than the Civic. So the Elantra could pull buyers from both the compact and mid-size groups; it's already a mid-sized car by EPA volume, although just barely.
  • doohickiedoohickie Member Posts: 949
    Agreed on the room. I looked at "compact" hatchbacks, and the Elantra was the roomiest of the bunch. It's either a large compact or a small midsize.
  • jkobbjkobb Member Posts: 51
    One of the things that sold me on my Elantra (05 GLS ) was the degree of comfort it had . I actually think it has better comfort than the 2000 Altima that I traded in , which is a bigger car by the way . Once you get the seat height, tilt, and lumbar set just the way you like along with the smooth quiet ride it is very nice .There are several other things that sold me on the car which have been mentioned in other posts like price , rebates,style,power,warranty,etc., but I was most impressed with the comfort level . Which to me is more important than being a sreet racer . So I guess my question is even though I think the new 06 Civic is a very nice car also , how does it compare on comfort ? :confuse:
  • backybacky Member Posts: 18,949
    I found the '06 Civic LX's driver's seat to be OK, but I wished the front edge of the seat bottom could come up just a bit more. Some people (including some reviewers in magazines) have complained about the Civic's lumbar support being uncomfortable, but I didn't notice a problem there in my short test drive. Another complaint on the Civic for some drivers is that their right knee hits the parking brake lever. Again, that was not a problem for me but I am relatively short (5'10").

    The thing I keep coming back to on the Elantra is just how well the car "fits" me. It's nothing flashy and the interior design is getting dated, but the driving position is great, the seats are firm and comfortable on long trips, the displays are clear, the switchgear is straightforward and silky, the ride is quiet and smooth for a small car. The Civic is a fine car also, but other than its better fuel economy (especially with the automatic) and "Good" IIHS side impact result, I still prefer the Elantra--and I much prefer its price! If the price were the same or close, I'd opt for the Civic due to its crash safety, fuel economy, and historically high resale value.
  • doohickiedoohickie Member Posts: 949
    The thing I keep coming back to on the Elantra is just how well the car "fits" me. It's nothing flashy and the interior design is getting dated, but the driving position is great, the seats are firm and comfortable on long trips, the displays are clear, the switchgear is straightforward and silky, the ride is quiet and smooth for a small car.

    Wow. I could have almost written that word for word, Backy. And thanks for convincing me to take a second look at the Elantra last fall. It turned out to be a great choice.
  • njdevil1njdevil1 Member Posts: 45
    we also totally agree with the both of you about the elantra. we always use the elantra on long and even short trips. our honda civic has become a recluse in the garage. we are considering getting rid of it if we like the 2007 elantra. we will see. we have the 4-door gt which is no longer. could you let us know why you like the 5-door.
  • doohickiedoohickie Member Posts: 949
    could you let us know why you like the 5-door.

    Personally, I just like having either a wagon or hatchback in the family for hauling. I'm not about to buy a pickup truck, so the utility of a hatchback is the next best thing. I've already used my 5 door for hauling oversized items that would not have fit into a sedan, even one with fold-down rear seats.
  • schdyschdy Member Posts: 233
    I beg to differ with you. Read the newest quality ratings. Hyundai is in the top 5. Also I just sold a 2002 Sonata for $12000 that I paid $17000 4 1/2 yrs ago. Next I sold a 2002 Elantra 4dr for $7000 that I paid $9700 for almost 4 1/2 yrs ago. I don't think that that was too shaby. And my phone was ringing off the hook.
  • njdevil1njdevil1 Member Posts: 45
    thanks for your reply. we do not do very much hauling except when we moved from PA to North Carolina in November. You would be amased how much stuff we fit into our elantra with the rear seats down. we also think the 4-door has a quieter ride.
  • schdyschdy Member Posts: 233
    And I forgot to add in my reply that I never had to use my warranty in the 4 plus yrs on either car!
  • njdevil1njdevil1 Member Posts: 45
    do you realize that you replying to a message that is 6 years old.
  • schdyschdy Member Posts: 233
    That's funny! Thanks for the wakeup. I didn't know if I should crawl into the corner or just laugh it off. I learned to read the dates now. I thought when I click on new messages that I was reading recent news.
  • lightfootfllightfootfl Member Posts: 442
    ohhhh yeah
    It is easy to read the wrong ones, when you are used to them all being up to date. Hopefully the Edmund's crew will get all of these little bugs fixed where we can see the recent, and those since we last looked posts, sometime soon. They were hoping that it would be fixed this week, but....as you can see "the best laid plans of mice and men" sometimes comes back to bite us. ;);)
  • thegraduatethegraduate Member Posts: 9,731
    It's ok that its old; it was still generally relevant!
  • midnightcowboymidnightcowboy Member Posts: 1,978
    When you are lauding the Hyundai you have to choose your targets and timing carefully ;)

    Hey a new Hyundai might have advantages over a 6 year old competitor :P

    Double Sixes,

    MidCow
  • jpshupe007jpshupe007 Member Posts: 1
    Ya know, I like your slant as I know this message is 6 months old. The bottom line is that Honda is a sell out as they are now with the UAW, which supports all this crap about paying unskilled workers astronomical amounts of money...oops to the future we go...sorry now we realize we've only hurt our employees and they have to take huge cuts. Honda is a sell out!!!! I traded my 95 Civic in for my 97 Accent. I liked my Accent much better as it offered more standards. I just purchased an 06 Elantra-loaded and got it for $5,000 less than I would have purchased a Civic for without as many options. Furthermore, Honda buys into the American auto philosophy...get a clue with the warranty!! Hyundai is a landslide over Honda anyday of the week. Let's face it, Honda has become very Americanized and it's product is showing.
  • backybacky Member Posts: 18,949
    Now that the '07 Elantra has been unveiled, we can see if it is a more worth competitor for the Civic. Safety-wise, it has matched the Civic in equipment with ABS, side bags/curtains, and active front head restraints standard. In passenger room, the Elantra is far ahead of the Civic with 98 cubic feet plus a bigger trunk. Equipment-wise, the Civic offers nav and a 5-speed automatic while the Elantra offers heated leather seats. The Civic also has an edge in fuel economy and slightly in power (140 to 138) while the Elantra has more torque. Hyundai claims the Elantra is quieter inside than the Civic and has improved ride and handling over its predecessor.
  • doohickiedoohickie Member Posts: 949
    "Quiet" is probably the biggest reason I bought my 05 Elantra. Best in class, IMO.
  • njdevil1njdevil1 Member Posts: 45
    our 2005 elantra has alot more guiet ride than our 2005 civic. it also is alot more confortable on long trips. i do wish the elantra manual transmission was as smooth as the civic.
  • ctalkctalk Member Posts: 646
    I can't wait to test drive this car. It looks very appealing.

    As I said a while ago, I'm looking for a second car in the July-August area. This car is on my list. The only worry I have at the moment is safety. The new Entourage scored a gold rating. I hope the Elantra does well. Crash safety is very important to me.
  • backybacky Member Posts: 18,949
    You may have to stretch out your buying timeframe unless fall comes early where you live. ;)
This discussion has been closed.