Whinging about depreciation - Civinfo
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post #1 of 39 (permalink) Old 13th June 2016, 19:17 Thread Starter
 
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Whinging about depreciation

It doesn't take much these days for several threads to get onto the subject of depreciation, which then leads on to to the usual moaning about it. Personally I don't get it. We have all spent between 25-33k of our FK2s. As with almost all cars by major manufacturers they will lose money. 25-35% in the first year is totally normal and should be expected. Why some owners think their FK2 is an "investment" I just don't get. Casino rules apply - don't risk what you are not prepared to lose.

Honda made no secret of what the cars would be worth. Simply by looking up the guaranteed future value you can see the depreciation expected. I bought mine for just shy of 33k, got a good PX value and some discount on extras. Plus low rate finance. I know, because it was there in black and white, that I would lose 13k over 2 years. So that was the deal and I signed up for it. We all did.

Try to enjoy what you have guys. FK2s are great cars and will soon have a cult-following of their own due to limited numbers, just like the DC5. And next time, if losing 10k is not for you, just don't ever buy a new or nearly new car again. Wait until 50% is lost after the first 3 years.
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post #2 of 39 (permalink) Old 13th June 2016, 19:48
250bhp.... finally :)
 
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It a shame there can't be a bit more enthusiasm on this forum. You don't get this on DC2, DC5, EP3, Subaru PI, Evo,etc. forums anywhere near as much, if at all. These are great cars. The more people bang on about depreciation the more they will depreciate. Remember, back in 2006, all we heard in the media was that all the finance and housing markets are doomed? Well everyone stopped spending and investing and the markets did crash. Partly due to the self-fulfilling prophecy the media and general negativity created.
Have you got a source on this forum mate as all I ever hear from the FK2 owners bang on about is:

- How much they love it
- How fast their contis wear down
- Why are there no decent exhausts yet
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post #3 of 39 (permalink) Old 13th June 2016, 19:56 Thread Starter
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Search "Depreciation"
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post #4 of 39 (permalink) Old 13th June 2016, 20:29
250bhp.... finally :)
 
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Search "Depreciation"
I did do and scanning threads brought up 90% of fellow FN2 owners rubbing our hands at the FK2 depreciating as it brings it closer to our affordability xD
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post #5 of 39 (permalink) Old 13th June 2016, 20:36
regrets his username
 
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I paid near 36k for mine so I've took a really big hit in a yr, it doesn't bother me but it is slightly annoying, especially when choosing the carbon packs to be unique but then pimp my civic jumping on so soon selling the same carbon ruined that looks like mugen maybe coming
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post #6 of 39 (permalink) Old 13th June 2016, 20:43 Thread Starter
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I can see your point totally. But they always do a special at the end. And the 10th gen release date was no secret. I accept I sound a bit harsh above so sorry about that. I just hope to come on the forum and be cheered up by fellow owners.
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post #7 of 39 (permalink) Old 13th June 2016, 21:24
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There was rumours of special editions but I thought they were dismissed, (the coloured coded ones that looked odd) Honda are still pushing the sales on this one (originally a limited run) I wouldn't put it past them to finish on a limited edition but I can't see what else they can do to make it different
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post #8 of 39 (permalink) Old 13th June 2016, 21:57
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Normal cars are never an 'investment', the only people that buy new cars are those who can take a massive loss. To be honest I applaud them because there would be no second hand bargains without them
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post #9 of 39 (permalink) Old 14th June 2016, 12:14
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wait till the 9th is shifted from dealers plus a good few months. we might see the real value of the car.
rarity of the car should recover the price somewhat (not like theres a lot of them out there).

but yes, like you say, the car should of never been bought if depreciation was a real factor. dont put in what you cant afford to loose.
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post #10 of 39 (permalink) Old 14th June 2016, 14:24
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I think the source of the moaning is the FK2 GT spec cost of (originally) 32995, now 32,300 being fairly steep - especially when compared with the Golf R and RS Focus. It's more of a "look what you can buy instead" coupled with this sudden fixation on AWD vehicles being a bee's knees. I admit, I was *** when they announced the on-the-road price just before launch. In terms of depreciation, I don't think too many people are bothered (I'm not) and heck- perhaps Top Gears slating of the Type R will help push the fence hoppers into the Ford dealership and keep Type R road numbers low. Silver lining n'all...
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post #11 of 39 (permalink) Old 29th August 2018, 20:24
 
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Just found this old thread...
2 years later the prices are between 20-25 k as expected
What do You guys think, how much the fk2 goes down over another year?

I still prefer the fk2 look rather than the fk8 as many *** do!
Also only 2000? made, so it won't be like *** selling trash examples (see many fn2ep3) on every corner forcing the prices down...
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post #12 of 39 (permalink) Old 18th November 2018, 11:21
 
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Im sure it will hit about 10-15k by 2020, thats perfect price and value for most of us tbh. Most car enthusiasts know the rule, dont pay the depriciation we all knoe its gonna drop and also let the models and market mature. But at the same time we need early adopters to warrwnt honda selling it. Ill say one thing, as soon as I can ill have an FK2 to replace my FK1. Keep hold of it for a while!
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post #13 of 39 (permalink) Old 18th November 2018, 12:18
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everyone who buys a brand new car knows or should know they loose money as soon as they hand it over never mind drive off the garage forecourt
the higher spec car you buy the more you loose
only dealers get higher price for higher spec used cars
private market looks at the cheapest on sale and judge all prices by the cheapest they find not the highest spec
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post #14 of 39 (permalink) Old 18th November 2018, 12:42
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I'm actually quite happy with the way residuals have held on the FK2 type r, certainly not at the expected 50% at 3 years mark.
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post #15 of 39 (permalink) Old 18th November 2018, 13:29
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Quote:
Originally Posted by omzb147 View Post
Im sure it will hit about 10-15k by 2020, thats perfect price and value for most of us tbh. Most car enthusiasts know the rule, dont pay the depriciation we all knoe its gonna drop and also let the models and market mature. But at the same time we need early adopters to warrwnt honda selling it. Ill say one thing, as soon as I can ill have an FK2 to replace my FK1. Keep hold of it for a while!
I don't think they'll get anywhere near 10k-15k at all. The FK2 was made in such few numbers (only about 1500 sold in UK I believe), the demand amongst Honda enthusiasts, and hot-hatch enthusiasts in general will keep the values up. I think you're more likely to see the FK8 fall inline or less than the FK2 residuals in 3/4 years time, based on it being a global platform with tens of thousands likely to be made. Just look at the FD2 Type R, FN2 Mugen, MK2 Focus RS etc, the latter being the best example. Sure, it's helped out by the fact that the MK3 RS is utter pants, but a good indicator based on how similar the cars are (FWD, Manual, 300+bhp, aggressive styling, huge fan base).

It also depends on how the car market develops over the next few years. Less people are buying new cars each year, which is also helping used car residuals in general.
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post #16 of 39 (permalink) Old 18th November 2018, 18:16
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The FK8 is the 'better car' according to all the reviews. That will affect the FK2 price even if they were made in limited numbers. The FK2 is also shares the same plank rear suspension as the FN2, something else to bear in mind that it's not that special. It was more the development mule for the FK8.

One thing the FK2 has going for it, it looks better than the FK8.

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post #17 of 39 (permalink) Old 19th November 2018, 13:32
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A models successor is usually better than the car it's replacing- that's generally how development goes. The MK3 RS Focus is technically a better car than the MK2- it's the unreliability of the engine and general dullness that has the RS fanboys pining over the MK2 still.

Design querks like FK2's "plank" rear suspension haven't been a contributing factor to any depreciation thus far and it doesn't take anything away from it being one of the most capable performance cars on the market. So it's unlikely many enthusiast will pass up buying one because of this. The difference between the FN2 and the FK2 is that the FN2 was a car designed by a marketing team and got out performed by everything on the market in the same category. The FK2 on the other hand was class leading for the majority of its production time and still out performs most (if not all) of the FK8s rivals on sale today. This is why you're still seeing strong residuals and will probably continue to do so. But who knows. We'll probably revist this thread in another 2 years to see who's eating who's words.
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post #18 of 39 (permalink) Old 19th November 2018, 16:07
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I wouldn't call the plank rear suspension a design querk, more of a penny pinching design (from the accountants) that Honda want a slap for. Given the choice, FK2 or FK8, for the same price, the FK8 has proper suspension at the rear, I'd choose the FK8 every time and I don't like the look of it. And they will get down to the level of same price.
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post #19 of 39 (permalink) Old 20th November 2018, 09:59
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only found this out the other day... i think we all know the reputation of the meganeRS. That too is beam axle.
i also would prefer independent rear suspension down to adjustment reasons, but having had the FK2R on track i've no issues with running beam. It's an over hyped concern. There was very little keeping up and the chassis was limited by my limits as well as brakes and tyres.


i understood the FK2 as the development platform for the FK8. hence the low numbers and tweaks they did in the global version. with that came (apparently) a watered down experience. I've not driven the fk8 but I've seen people say the fk2 is a more focused typeR platform even if the FK8 performs the none typeR duties better. that to me makes the FK2 better - it's what i want in a car; performance first because that what a typeR is.


cant say i keep up with car prices, but i'm on the impression bad ones are around 18k now. good ones are around 25? prices certainly recovered once the dealerships got rid of a lot of theirs around the 21-22k mark.
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post #20 of 39 (permalink) Old 20th November 2018, 12:32
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Renault sorted their torsion bar suspension properly wheras Honda never really got to grips with it.

Cheapest FK2 prices are 15k with normal ones starting at 19k.
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