Why Are Used Binyue So Cheap?

[SarahAnn]

The reason used Binyue vehicles are inexpensive is due to the large quantity available in the used car market. Here is more relevant information: 1. Reason: The five-year residual value rates for the Binyue in the used car market are 78.32%, 70.36%, 63.07%, 56.02%, and 49.32% respectively. According to statistics from the China Automobile Dealers Association, the average residual value for used cars in China is 70% in the first year and 60% in the third year. The Binyue's residual value exceeds the average standard for the first three years, making it relatively value-retentive. However, the vehicle's residual value can serve as an important indicator for consumers to assess cost-effectiveness before purchasing. 2. Binyue: The Binyue is the first SUV model under Geely's new BMA modular architecture. It is powered by a 1.5T three-cylinder engine jointly developed by Geely and Volvo, delivering a maximum power of 177 horsepower and a peak torque of 255 N·m. Paired with a 7-speed wet dual-clutch transmission, it accelerates from 0 to 100 km/h in just 7.9 seconds. Additionally, the vehicle is equipped with advanced intelligent safety features and L2 autonomous driving assistance technology.

[VanHayden]

Last year, I bought a new Binyue, but less than a year later, I wanted to trade it in and found that its second-hand price was surprisingly low. One reason is that the starting price of the new car itself isn't high—Geely targets the budget-friendly market, unlike Toyota, which holds its value better. Additionally, domestic car models update too quickly; as soon as a new model comes out, the old one depreciates rapidly. My Binyue became outdated just three months later. Moreover, there's a large supply in the second-hand market—Binyue's good sales lead to high inventory, while buyers prefer joint-venture brands like the Honda XR-V, believing they offer more reliable quality. Although my car hasn't had any major issues, minor problems like inconsistent air conditioning and brake noise made potential buyers worry about high maintenance costs. Overall, it's cheap to buy and cheap to sell. If you're looking for a car with long-term value retention, the Binyue isn't the best choice, but it's certainly cost-effective, especially for budget-conscious family users.

[SanMichael]

As someone who frequently deals with used cars, I find it quite normal for the Bin Yue to be priced cheaply. The original price of the new car is relatively low, and domestic brands generally don't hold their value well. Specifically regarding faults, some older Bin Yue models might have minor issues with the engine or electronic control systems, which can be costly to repair, making buyers hesitant. The market supply is also abundant—there are too many used Bin Yue models on the streets, while demand is low, as people tend to prefer buying used Japanese cars. Daily maintenance costs aren't high, but reselling is difficult, and prices get pushed down. Personally, I think Geely cars are practical, but they're not hot in the used car market. If you're looking for an affordable daily driver, it's a good option, and the money saved can be used for maintenance.

[OSpencer]

Considered buying a used Bin Yue because it's indeed cheap, with models from a few years ago costing just tens of thousands. Although Geely is a major domestic brand, its brand power is weaker in the used car market, losing out when compared to Honda. In terms of configuration, the first-generation models have simpler technology with fewer upgrades, lagging far behind the new models. At the same time, there are too many options in the market, and buyers are picky, driving prices down. It performs decently in use, with good fuel consumption control, but minor issues like occasional electronic system failures might worry new owners. Overall, it's very suitable for beginners as a low-cost practice car, but don't expect it to hold its value.

[OConnor]

From a market perspective, the low price of used Bin Yue is primarily due to supply-demand imbalance: abundant second-hand sources caused by high new car sales; while on the demand side, consumers prefer brands with better value retention, where Geely is at a disadvantage. The affordable pricing of new cars limits appreciation potential, and rapid technological iterations accelerate depreciation of older models. In actual performance, although the failure rate is not high, maintenance costs affect buyer offers; economically worthwhile, low prices make it more affordable for many, but long-term use suggests regular inspections to save costs.

[SanFinley]

After driving the Bin Yue for several years and deciding to sell it, I was shocked by how low the second-hand price was. It was a great deal when bought new, but Geely's models update too quickly, making my older version quickly outdated. In terms of quality, minor issues like frequent sunroof rattles occurred; repairs were simple but affected buyer confidence. The market is oversupplied, with demand shifting toward new-tech vehicles. Although the fuel consumption is reasonable and practical, the price is regrettably low. However, as an entry-level car, it offers great value, especially for family commuting or as a first car.