I need advice: I Have to Sell My 2006 Civic Hybrid :-9
I'm looking for advice on how best to sell my 2006 Honda Civic Hybrid. I listed it a week ago on www.autotrader, but I'm not getting any response and I priced it well. I noticed afterwards that their search engine doesn't filter on Hybrid unless you manually enter for it... Does anyone have a better suggestion? I want to find the car a good owner, and still get a decent price for it.
It is the Alabaster Silver color, with gray dash and blue cloth seats. I've owned it for 13mos, and 26k miles and it has been a faithful companion. I average 44mpg on combined driving, though mostly highway. It's in 'like new' condition, garaged at home nightly, I don't smoke, and I keep it extremely neat.
I posted on autotrader and I live in Southern, NH. I'd keep it if I could, but unfortunately the bills are winning out. If you know anyone interested please refer them my way.
Re: I need advice: I Have to Sell My 2006 Civic Hybrid :-9
Craigslist - Boston perhaps? I don't know how used Civic Hybrids are selling at this point. I think the full tax credit is still in effect, so you are competing with new cars that have a $2100 advantage (or did in '07 - not sure if the '08 credits change due to the EPA mileage estimate methodology change) compared to MSRP.
You've priced it correctly, according to KBB.com. A 2006 HCH2 with 26K miles in "good" condition in your ZIP code should sell for $18,600. The problem is that 'should' and 'will' are two separate circumstances.
At that price point, you have strong competition from brand new Civic Hybrids. The price difference represents only a small difference in monthly payments. Also, financing rates on new cars are much better than on used cars. So if a guy can buy new for $3,000 more, and pay 5% interest as opposed to buying used with a $3,000 discount but paying 8% interest, he's better off with new. Plus he gets zero miles on the odometer, full manufacturer's warranties, and the emotional reward of buying a brand new car.
So that's what you're up against.
If you have enough equity in the car, try pricing it at the "private party, fair condition" price of $17,100. That will attract buyers. Or, you can try CarMax -- they'll buy your car on the spot, although probably at "trade-in" price, which is basically a rip-off.
I've sold several cars and motorcycles on autotrader.com, so I know that it works. If you can stay ahead of the bills long enough, your HCH will sell. But I know that's a big "if."
Re: I need advice: I Have to Sell My 2006 Civic Hybrid :-9
When I was looking (6 months ago), there was a local guy (5 miles) selling a 1 year old (2006) with 14k on the ticker. When it came down to it - I was happy to buy at the right price. I was able to get new for $21,500. With the tax credit it comes down to 19,400. This guy would not budge below 19,000. I tried to explain my logic but it didn't work. He was asking $21k.
At 26,000 miles you have used 60% of the warranty. It has to be worth $1500 so there goes $1000. If you feel the usable life is 20 years and 300k miles, then there goes another $1000 (wrongly assuming linear depreciation). So in my mind, only a fool would pay more than $17,400 for the car. Now - if someone knows that they won't get the tax credit, then it could be worth as much as $18,500. Could be.
Re: I need advice: I Have to Sell My 2006 Civic Hybrid :-9
I agree that Honda's seem to have madcap crazy insane resale value. The lightly used late model ones are always priced so close to new ones I have always wondered how they sell them.
Re: I need advice: I Have to Sell My 2006 Civic Hybrid :-9
I've had good luck with Ebay Motors and Craig's list. However, if you go the Ebay route it helps if you have several positive feedback ratings. There are several scammers listing fake car ads on Ebay Motors and they usually have a feeback score of 0.
Re: I need advice: I Have to Sell My 2006 Civic Hybrid :-9
I have a friend wanting a HCH2, however he is looking at some other ones up for sale right now on ebay that our a little cheaper. If they all fall through maybe I can push him to yours.
Re: I need advice: I Have to Sell My 2006 Civic Hybrid :-9
If Craigslist doesn't work, try the local paper's classifieds. I tried a different online site last year to sell the wife's previous car; no luck. When I placed a classified ad, the phone rang off the wall almost at once.
Re: I need advice: I Have to Sell My 2006 Civic Hybrid :-9
If you appraise this vehicle using Galves, which many dealers use, I estimate (I don't have a Galves subscription) that it's worth $15k at most.
Dealers may offer you about a grand less than that to cover themselves in the event that the vehicle requires more $$$ to turn into a resell able condition.
Thus, in the event that someone offers you $16k for the vehicle, I'd take it and run.
I need advice: I Have to Sell My 2006 Civic Hybrid :-9
