How Much Is A 2012 Honda Civic Worth? Here’s How To Find Out
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The iconic Honda Civic needs no introduction, as it’s one of the best-selling cars (not an SUV or truck) in the United States, second only to the venerable Toyota Camry. The Civic is certainly a crowd-pleaser, prompting Honda to ensure they get this classic compact car right – and most of the time, the Japanese automaker does get the Civic right.
Having said that, one of the most top-rated model years of the Civic is the 2012 version. U.S. News listed the 2012 Honda Civic as number 1 of 2012 Compact Cars, thanks to its pleasant ride, comfortable interior, great safety scores, and excellent fuel economy. In addition, Honda Civics tend to hold their value well.
If you’re looking to trade in your Civic, you’re likely asking: How much is a 2012 Honda Civic worth?
Trading in your used 2012 Honda Civic right now might just get you top dollars. Why is this the case? What factors can influence the trade-in value of your Civic? Are there ways to help you estimate your Civic’s value? We’ll answer these questions and more.
Why It’s the Right Time to Trade In Your 2012 Honda Civic
Unless you’ve been living in a cave (some of you might have, considering the pandemic), you’ll know that new and used car prices have significantly increased compared to last year. The ongoing COVID-19 pandemic, Russia’s invasion of Ukraine, and the semiconductor chip shortages were the primary catalysts to record-high inflation in car prices.
According to the data released by the U.S. Bureau of Labor Statistics back in February, new car buyers forked out 12.2% more in January 2022 than in the previous year. However, that pales compared to the used car prices because they skyrocketed to a whopping 40.5% for used cars, SUVs, and trucks.
In addition, the popular car-shopping website Edmunds conducted a study and found out that 82.2% of new vehicle purchases were above sticker price in January. In contrast, consumers paid 2.8% in January 2021 and 0.3% in January 2020 above MSRP – demonstrating the absurdity of the inflation. Experts advised to hold off new car purchases with the current market, but as you can see, the used vehicle market is in an even worse shape.
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When Are Car Prices Going Down?
For the better part of last year, consumers were more than eager to purchase used vehicles. Combined with the supply chain issues due to the pandemic, the quicker car lot turnarounds led to record high car prices. According to CNBC, wholesale vehicle prices have dropped 6.4% since January. However, used car prices will remain high as inventory remains tight.
In another news article by ABC, used car prices are slowly dropping, but some cars remain in high demand and, consequently, higher prices. For instance, hybrid vehicles like the Prius and Sonata have seen as high as 40% price hikes.
Why Should You Trade In Your 2012 Honda Civic?
If you’re asking the question: how much is a 2012 Honda Civic worth, there’s a good chance that you’re looking to trade in or sell your car. Although it’s not exactly a buyer’s market right now, used car sellers can potentially earn top dollar with the current state of the market. The very same forces that work against buyers become an ally to people who want to trade in or sell their Civic.
In 2022, car prices have been hitting record highs, making it an ideal time to sell or trade in your used Honda Civic. If you’re currently on a lease, you can potentially pay off your contract by selling your Civic and also have some cash on the side. This is an even more attractive proposition for those who can sell their Civic without needing a replacement.
Ideally, you can get more dollars for your used Civic via a private sale. However, trading in or selling to a dealership isn’t that bad of an idea. Car dealerships are hurting to sell more cars due to low inventory, so there’s a good chance you can get a good deal.
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Factors That Affect Your 2012 Honda Civic’s Trade-In Value
Before we estimate how much is a 2012 Honda Civic worth, it’s worth knowing the factors that can influence your trade-in value.
- Age of your Civic – Vehicles tend to lose about 20% of their value during the first year and about 60% of value lost by the time they hit the five-year mark. Fortunately, the Civic is a vehicle that holds its value well.
- Miles driven – A Civic with 100,000+ miles on the odometer will significantly have lesser value than one with 50,000 miles. Although your 100k miles Civic hasn’t had significant repair issues, the dealer knows that problems will come sooner than later.
- Vehicle options – You may have purchased a higher trim Civic with extra equipment and features, thus increasing its overall cost. These options include leather seats, premium sound systems, sunroofs, larger infotainment screens, advanced safety features, etc.
- Vehicle condition – Unfortunately, a quick car wash won’t restore your Civic to its former glory. Even minor dings and scratches can drop the value of your ride. Dirty and ruined upholstery will also significantly decrease the value.
- Maintenance record – Have you been keeping up with your Civic’s maintenance schedule? Keep up with the vehicle servicing as recommended in the manual, and keep complete records of repairs and maintenance services.
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Finding Out Your 2012 Honda Civic’s Trade-In Value
How much is a 2012 Honda Civic worth? Here are a couple of tools to calculate a vehicle’s trade-in value.
An easy tool you can use is Consumer Reports’ Car Value Estimator. You simply need to fill out some quick details like your vehicle’s make, model, year, and mileage. For example, a 2012 Civic Sedan DX with a fair condition and 50,000 miles will have an average trade-in value of $8,720.
Another tool worth using is Kelley Blue Book’s My Car’s Value Tool. It’s a versatile tool with plenty of options to customize your vehicle profile. With the same 2012 Civic Sedan DX with standard equipment and 50,000 miles, the average trade-in range is $8,615-$9,658.
Last but not least, we highly recommend the CoPilot’s Hidden Profit Calculator tool. What made this tool different is that it informs you if you can make a profit from your used 2012 Civic. First, it calculates the Real-time Market Value Breakdown and compares it to bids within your area. With the right buyer, you can make some quick cash. Sign up for a CoPilot account now!
Get a Curated List of the Best Used Cars Near You
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