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Should I buyback my lease and flip?


newts

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Hello All,

 

Please excuse my naivety, as I'm not well versed on Civics...

 

I am leasing a 2002 Civic, and my contract is up at the end of July. I am contemplating on buying the vehicle after the leasing, for the purpose of flipping it for a small profit.

 

The problem that I'm having, is that I'm having trouble differentiating the model from similar types. It seems that most for sale ads are just advertising for a "2002 Honda Civic", and not necessarily describing what the type is. According to my lease documents, I have a 2002 Civic SD1. Are these worth as much as LX models? DX models? What's the difference? Is there a significant difference in cost?

 

I have 55,000Km's (in Canada), and the buy back all in is $10,500. I'm seeing similar civics with similar mileage selling for between $13k-$15K.

 

Any insight would be appreciated.

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More than likely, you will not make any profit. If you are buying the car from the dealer, they are not going to let it go for less than they can get out of it. If you purchase the car and try to resell it, you would not get as much in private party retail as a dealer would. I dont know what an sd1 civic is, but you might be able to run the vin or go to kbb.com and get value there if they do that for canadian models.

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i can tell you this dude , i live in nova scotia(canada as well) , and i have an 01 civic , mine is an Si which is top of the line model here minus the G(group packaging , comes with A/C and ABS) , and i simply wasnt interested in those 2 options. my car got 140,000 clicks and its worth maybe 12 pink. and its in real good shape. i have some aftermarket upgrades but there not worth fuk all in resale unless appraised. i also dont know what SD1 is , but im sure if its in the VIN , it corresponds to what the car is in code.

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