The secondhand automobile industry has recently been in disarray because to a scarcity of semiconductors. While some people gain, others lose millions.
Honda Civic owners appear to be in the latter group, despite the fact that it is a moment of uncertainty. Actually, this shouldn't be a surprise.
The Civic has consistently been a wise investment, but mostly because of its outstanding dependability.
The car's resale value is currently a hot topic, and for good reason.
Honda Civic values are on the rise
New Honda Civic vehicles are presently costing more than used Honda Civic models, according to a recent iSeeCars survey.
The lack of semiconductors, as previously indicated, is mostly to blame.
In response to dealership shortages and price increases, consumers are increasingly turning to the used car market.
Why wait an undetermined period of time for a new automobile when you can just get a car that's a year old, one may reason.
But it's not like a used 2020 Civic now has a $10,000 premium over a new one. These appreciation rates are now rather modest.
However, if supply chains are unable to stabilise, they may go up much further.
A used Civic of a more recent model is currently valued around 2.8% more than a new one. That is around $727 when converted to plain ol' U.S. dollars.
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