Parents' offer to sell honda civic 2010 model to me for $10,000

Lozbargaingal on 07/02/2014 - 19:36

Hi Ozbargainers,
My parents are buying a new car tomorrow morning and they have asked me if I'd like to buy their 2010 model honda civic for $10,000. Apparently the dealers are only going to give them $14,000 for it anyway. My parents are neat freaks and the car has leather interior, so I'm thinking its a good deal!!

The only catch is that I currently own a 1999 Hyundai lantra that I love and doesn't cost much to run. The driver's side passenger door doesn't open ( central locking issue that hasn't been able to be fixed 4 times now) and this could be a real pain when next year I bring another Ozbargainer into the world!!

The private buyers' guide on redbook is about $14000 for the civic and $1500 - $3000 for the Hyundai.

Question is, should I make the deal with my parentals?

Thank you for your advice!!! Xx

Automotive

Comments

  • wartortle on 07/02/2014 - 19:48
    +4

    If you've got the money, I'd say go for it.

    • It's a good deal.
    • Seems like it's worth the upgrade.
  • WalterPPK on 07/02/2014 - 20:09

    I've seen Civics three times that age go for ten grand. And they are actually a pretty nice car to own and to drive. I'd say ditch the Hyundai with its crummy build quality and stuck door, and go for it.

  • RockyRaccoon on 07/02/2014 - 20:18
    +7

    First thing you always need to consider with any car, is HISTORY. Now most times you cant get that. In this case you know it all. Buying a used car from somone without knowing the history is always a gamble compared to knowing how it was treated etc. My guess its probably never been in an accident either, again helps with no rust etc from where its been repaired.

    If the dealer was going to give them $14K and you are buying it for $10K you have a bargain as dealers aren't going to pay more than what they can sell it for, and given they have to provide for warranty etc, they would most likely need to sell it for $16-17K and hopefully for them they would even get more.

    Now if it has leather upholstery it's more likely a higher end spec car, ie not the base model, so you would do well.

    Dont look the gift horse in the mouth. You know already your parents are subsidising you to the tune of $4K. Your Hyundai wouldn't even be worth the $1500.

    While your Hyundai you may love, take the plunge, its a bargain, otherwise you may have to turn in your Ozbargain membership number….

  • tds on 07/02/2014 - 20:41
    +24

    Give your parents your old car and let them trade it in and offset the 10000 or let them take the trade in to offset the new car

    • berger on 07/02/2014 - 20:53
      +5

      Absolutely agree.

      It's a far better choice for you, saves you trying to sell the car, getting RWC, etc.

      The trade in value may be a little less than selling privately, but the ease of a trade-in makes life easier.

  • nevbuster on 07/02/2014 - 20:57

    Pull the lining off the Hyundai door and fix the lock, can't be that hard and leave your cash in the bank.

  • doofus on 07/02/2014 - 22:18
    +3

    That's a long pregnancy!

  • subywagon on 07/02/2014 - 23:15
    -5

    Tell your parents that if they loved you they would just give you the car…

    • berger on 08/02/2014 - 06:49
      +4

      Yes, that's right, because every family can afford this.

  • ujwols on 07/02/2014 - 23:24
    +1

    if you finally decide to not buy then let me know, I will :)

  • modsec802 on 07/02/2014 - 23:28

    Good deal, you'll get a much more reliable car. I would try to get them to trade your car in.

  • pao2x on 07/02/2014 - 23:32
    +6

    Practically a gift. And the last thing you need with a new bub is an unreliable car. Well worth the upgrade

  • [Deactivated] on 08/02/2014 - 08:26

    Your parents are offering at less than half the redbook price.
    http://www.redbook.com.au/cars/research/Honda/Civic/2010

    Can't believe no-one actually checked this.

    • natman on 09/02/2014 - 15:41

      No I think you're mistaking brand new price for used

    • JediJan on 14/02/2014 - 09:45

      Thank you for providing the useful link.

      Found it a little difficult at first (as you have to look beyond the "new" price) but it gave a fairly accurate price, apart from me having to second guess at the estimate price given. For my vehicle the mileage quoted for red book price was 200-300K (02 Vectra), whereas my vehicle has only just passed the 100K. I guess I can add $1-2K to the price?

  • wharlie on 08/02/2014 - 09:21
    -6

    If you want to keep your Hyundai, take the Civiv for $10,000 then sell it to the dealer for $14000, instant profit.
    Might piss off your parents but a bargain is a bargain.

  • ssmith3104 on 08/02/2014 - 10:20

    Are you stupid or what?
    "Don't look a gift horse in the mouth".
    Of course do the deal.
    You really had to ask?

  • berger on 08/02/2014 - 10:49
    +4

    If the dealer was offering $14k, I'm guess car value is closer to $16k…

    • ozgriff on 09/02/2014 - 12:23

      This! but tends to vary if they have bargained down the original value of the new car from the 'sticker' price.

      e.g.
      New car = 35K (32k sale value)
      Trade in = 18K sale value. (14k trade-in value)

      So they dealer would play around with 3k from the original car value and 4k with the trade-in. Adjus those figures to your heart's content, plus the dealer will low ball you big time on the trade in.

      My car they offered 2K trade-in, I sold it for 6.5K private and if I wanted to push the matter probably could have waited for 7.5K if I had the luxury of time.

  • flywire on 08/02/2014 - 10:53
    -2

    Used Honda … Hmmm … you will pay in the end through the service and parts costs.

    • scrimshaw on 08/02/2014 - 11:20
      +2

      Would the 99' Hyundai be any better?

      10k is a pretty darn good deal, much better than any deal a car dealer can give you.

  • JediJan on 08/02/2014 - 11:30
    +1

    Your parents would rather do you a good turn (let you have the car cheaper than it's market value) than get ripped off by the dealer. You know the car's history (presumably) so if you can afford it, or arrange a repayment plan with the folks, then I would go for it. Forget about the Hyundai; it's already causing you far too much grief. More important those passenger doors work properly; only a few years and you will have children to drop off at pre-school. Don't give any children an excuse to exit from the driver's side of the car EVER. I have seen some stupid parents do this outside the local primary school.

  • Ughhh on 08/02/2014 - 13:10

    I drive both the Honda Civic 8th Gen and 9th Gen, great car to drive. Dump the old Hyundai.

  • goosegog on 08/02/2014 - 17:06

    GO FOR IT !! Your lovely parents are doing you a great favour. Look at any sites to see the reliability of either car & see which one comes out on top. You want to put a new born in a broken Hyundai?

  • Wallace on 08/02/2014 - 17:24

    I own one and I can tell you it doesn't cost much to run.

    Honda does charge me $200+ for each service though.

    The large digital speedo located on top of the dash board means I can concentrate on driving within the speed limit and lowers the chance of an accident.

    I haven't have 1 speeding ticket since owning this car.

    I wouldn't sell my 2010 limited edition for less than $18,000.

    • SaberX on 08/02/2014 - 20:21

      first time civic driver since dec 2013. first car I bought myself. prev using paros cars. speedometer is greay. looks good. does stop u from speeding because the speed is outright stated. no excuses of judgements that its about xxxkm.

  • WT on 08/02/2014 - 17:24

    Its a good deal, better for you to take it then the dealer

  • frutter on 08/02/2014 - 18:41
    -1

    Can you give us more details on the car like location, color , Kms, auto or manual, is it the sports model?

    maybe we can give you a better estimate of what your car is worth at the dealers

    oh and be careful cracked engine bays have occured/have been reported to be slightly less dense than manufacturing specs since they were being made in thailand, google it or pm me and ill give you more details, just check if the civic your parent's has is in the list of civics prone to this

  • SaberX on 08/02/2014 - 20:19
    +1

    is this the base civic vti model?

    I got the 2009 civic vti (end of 08MY model) for $14k second hand from dealer at 49000km odometer. pretty decent exterior and interior condition. bought dec 2013.

    assuming your parents have done a standard mileage on it. are good owners. first owners etc you'd be getting a great deal at 10k. looking at second hand civics I think anything around 10k would be 2007 model and below. and private dealers not dealerships.

    your 1999 car is likely to conk out sooner rather than later given its age. if you can get a grand or two sell it off and take up the civic which will more likely not conk out ovrr the next 5-10 yrs probability wise as well as major issues wise.

    civic feels great to drive quality wise. cant fault it. so given we dont know the engine and exterior quality if its standard for a car that young then you cant go wrong.

    take the civic !!! oddly I went off redbook valuing around 13-14.5k for mine. dealer was 16.9k advertised. got it for 14k yet racs insurance mv advised me 16.5k so that's what I insured for.

    I assume your 2010 model would be worth even more.

    • SaberX on 08/02/2014 - 20:22

      you also stated leather upholstery so clearly higher specced than my standard vti. mine did come with reverse sensors tho which arent a vti base model inclusion. if ur paros is a vti with it as well then value is even higher once again. vti-l edition has the reverse sensors etc tho

    • beesa888 on 09/02/2014 - 20:32

      Leather seat instantly indicate this is a "Sport" model (top of the range civic) with a 2.0L engine as opposed to the standard 1.8L

      its a great deal for a great price! my 2006 Civic Sport is still selling for $12-14K~

      • SaberX on 13/02/2014 - 17:25

        if that's the case, take the damn deal or give it to me! hah :D

        don't have any feel of the sports model, i assume it chews up more petrol, but loved my vti atm…. can only imagine the sports being even greater.

        and 2010? 1 yr younger!

  • ozbargaingal on 08/02/2014 - 21:58
    +10

    Fellow Ozbargainers!! I took your advice and very appreciatively accepted my parents' offer. I really thank you for the time you all took to respond. I know nothing about cars, so it's really nice to know you guys can help!! Just need to sell my beloved Hyundai in Brisbane now :)

    • Geewhizz on 09/02/2014 - 11:05
      +4

      Your parents are doing you a huge favour. The dealer would have offered a rockbottom price as a trade in.

      You're probably not going to get a huge price for the hyundai, and in fact won't be able to sell it as registered with a door that won't open, as it would not pass a roadworthy inspection. Why not give it to them to use as a trade-in and hopefully reduce their purchase price. Even if you end up splitting the difference with them, you're both going to be in front in the long run.

  • quack28 on 09/02/2014 - 16:32
    -1

    Buy and then sell it off, your parents want you to make the money instead of the dealers.
    - end thread

  • tyler.durden on 09/02/2014 - 18:35
    -2

    Sell it for 14 to 15k

    Buy new car 4k-5k from profit

    Basically u got new car for free

    10k car will lose it's value quicker
    And more worries about scratching it when parked

  • spychiatrist on 12/02/2014 - 22:53
    -6

    I can't understand why your parents won't give you the car for free. You're their child for goodness sake! I know I'll give my car to my child.

    • doofus on 13/02/2014 - 06:04

      That's not a good way to teach them financial responsibility.

      Or maybe I'm just bitter that I had to buy my own crappy old car and get a job to pay for my own petrol, while others I knew got new cars bought fr them (or at least handed down) and were also given money for petrol…

  • xyron on 13/02/2014 - 11:18
    +2

    I am staggered by the responses in here along the lines of "your parents should give you the car"! Just how many silver-spooners do we have here on OzBargain?

    My parents could easily afford to buy me a car but they flat out refused - my first car was a 1987 Subaru Vortex Turbo that I scrounged up $1000 to buy way back when I was 16. Since then I have bought and sold over 30 cars - all without the sense of entitlement that someone who receives a free car inevitably seems to have.

    I note that all my mates who ended up getting cars given to them have either totalled them or treated them really poorly. Not a good start to a life of car-ownership, in my opinion.

    OP - you got a very good deal - equivalent to your parents giving you ~$5000 anyway by giving you such a big discount. This is about as generous as one could expect parents to be!

    • RockyRaccoon on 13/02/2014 - 22:11

      the OP did say she

      … very appreciatively accepted my parents' offer.

      and obviously ignored the other selfish advice, so all is now well

    • spychiatrist on 13/02/2014 - 23:01
      -1

      Basically you're saying your parents never bought you a gift all your life. If that's the case, I understand your response.
      It is not about self-entitlement. It is all about giving.
      Each family obviously is different. I just don't see myself making money out of my child, whether it is for a "loss" by selling it lower than dealer's offer.
      And to those who negged my earlier comment, hopefully you enjoy the money you made from your kids.

    • berger on 23/02/2014 - 20:38

      Haha a Vortex, I loved them, i had the newer SVX that I regret selling.

  • 00 on 27/02/2014 - 16:58

    Keep the Hyundai and put the $10k towards a deposit on a house/unit/property.
    Rent it out and then in a few years buy yourself another car.

Login or Join to leave a comment
Login Join