Overhaulin'

How much will car prices go down in two years?

I just turned 14, and decided that I want to start saving for a car. I'm dead-set on getting a honda element. I wanted to know about how much car prices will go down. For example, if a 2006 model is about 16,000 now, how much do you think it will it be in two years when I get my license.

Public Comments

1. It all depends on the build quality, reliability and class of the car. I am guessing, because its a honda and they tend to hold there value, in two years you may be able to get one for 10,000 - 12,000 dollar's. But that is only a rough estimate. Save your money and see what your can afford when the time comes. Good luck :)
2. I'd suggest you go to Edmunds.com or Cars.com and check prices of 2004 Elements to get an idea of what a 2006 will be worth in two years. Adjust for differences in the MSRP between 2004 and 2006.
3. you donot have to wait for two years .you can have your car in in very limited amont in current time. you should visit http://www.iSeeCars.com good luck.
4. Yooo, Well, Honda's really go down in price when theyre 2-3 years old, mazda's do too ! If it's 16,000 $ now, it would prolly be 11-12,000 in 2 years.. you can check www.carmax.com for honda elements that are 2006 now, and check the price diff.. When I was 14 I wanted a Mazda 6 it was 15,000$ now I'm 16 and I bought one for 12,000$, so thats cool. Goooood luck though :)
5. I sold a five year old AWD Honda Element EX with a five-speed transmission this summer for just under $13K. It had about 41,000 miles on it, and except for the original tires was in immaculate condition with all service records. For the condition it was in, $13K was a deal, but you could find comparable Elements that were not as pristine and with more miles for $11-$12K. You could probably find a low-end beater for under $9K. Bottom line: There will be a wide range of prices depending on which model, options, condition and mileage you're talking about. One other factor...the Element's design is going on six years old with no buzz about what the next generation Element will be...or if there will even be an Element in Honda's future. If that happens, used Element prices may decline because it is heading towards extinction.