Long story short. Due to the high value of our HCHII's resale, I'm looking to trade in my '06 Mag Pearl HCHII with 20k miles for a '07 Mag Pearl with Nav, and Leather seats. Dealer is offering me my car plus $6700.00 for trading up to an '07. My accountant believes I can also get the Fed/State monies - again since it's another car. So my actual out of pocket is $3100.00 and I get a new car plus upgrade to Nav and Leather. Is this a good deal? Thank you for everyones input.

 

Do it!!!I am sure your mind is made upalready and you will regret it if you don't. Just shop around go to a website like carsdirect and edmunds and email up to three dealers at once and have them make you the best offer.

 

Legally you are supposed to keep your hybrid for 3 years to get the "hybrid tax credit" - so that's the first issue. I doubt the federal government will be able to enforce it - but that's what the law says. Second - it sounds like the dealer is going to make a killing on the deal. All the prices I've seen on Autotrader.com says you should be able to sell an 06 Hybrid w/o NAV for 20K-22k. The 07's with NAV go for about 25,000 MSRP + a bit of money for the leather seats (I don't know how much they cost - $1000 maybe? So you have a car that will cost 26k and one that's worth 20-22K. Doesn't sound like $6700 to me..... And yes, I agree that you can get the federal money again on this car...

The real question is how bad to you want leather and NAV. Doesn't sound like a great deal to me though. Maybe your car + $5000 ??

Eric

 

[Legally you are supposed to keep your hybrid for 3 years to get the "hybrid tax credit" - so that's the first issue. I doubt the federal government will be able to enforce it - but that's what the law says] Can you share where this is written. My accountant can find no such restriction. Thank you.

 

So here's the numbers. Paid $22400.00 for my Mag Pearl w/o Nav Jan 1st. It had, yes I traded it in, 20K miles. With Fed/State monies $3600.00 total actual cost was $18,800.

'07 Mag Pearl w/Nav MSRP $24945.00
Leather $2100.00
Mudflaps $149.00
Total $27194.00
After Dealer Discounts $26000.00
Trade in Allowance $19650.00

Out of Pocket $6350.00
After Fed/State Monies $2750.00

So I paid $2750 for new '07 Hybrid, included I get Nav, leather, and wipe out 20K miles of driving. I'm posting so all can see how great a value our hybrid's turn out to be. Nothing like we've read in the press.

 

Decent... if you happen to live in Oregon. No sales tax there, as I recall. After sales tax, license & registration, it would cost me another two grand in California. So... the $2,700 cost would be about $4,700 for me. For the 10 months you've owned it, that would work out to $470 per month... a hefty monthly price for a Civic!

By the way, how do you account for the $3,600 in fed / state monies? To my knowledge, CA has no Hybrid incentive (other than the carpool lane stickers). I think the fed money is $2,100. Does Oregon have a further incentive for $1,500? If so, you might want to check the fine print on that. Just like the fed program, you're probably required to keep the vehicle for some length of time (more than one year). Unlike the fed program, where it's hard for them to check... the state CAN check, because they also have the registration records. If you sell your car, you might be required to rebate a prorated portion back to the state.

BTW, that $1,500 extra from Oregon would raise my cost to $6,200 to work a similar deal in CA. That would raise the cost of ownership for the 10 months to $620 a month. I could get a Ferrari for that (well, maybe a very used one!!!).

Anyway, it might be a good deal for you... but impossible for me to do here!

 

I sold my 04 HCH for $21K April of this year with 22,000 miles on it.
I paid only $19.3K
I sold it right at kelly blue book for my zip to a private party.

then I got my 06HCH for $1000 under msrp then take another $2100 off for the tax credit.

I made out well.

Never trade in a car.
You loose thousands.

 

Kevin;

Is your leather on your 07 factory or after market?

Also who is your dealer on the 07.

We live in Seaside Oregon.

Alster

 

It's not available from the factory.... as yet.

 

Leather in our '07 is aftermarket. Installed by Couch, Inc. Here in Portland Oregon area. If you need I can get more specific info for you. Dealer is Jay Lee Gladstone Honda, Rep is Jason. Seaside, Oregon we visit on business at least once a month. Own a business in Cannon Beach.