Shocked at the value of our cars...
 

Yesterday I was able to go to the 2006 Sacramento International Auto Show. At the Honda area, they had a new Civic Hybrid. Let me just say for the record that I love the new model even more now. So on the way home I got to wondering just what I could get for my car if I were to sell it so I could get the new model.

I checked the Kelly Blue Book website and was shocked to find that the Private Party pricing for my car is $22,175! I only have a little more than 3,100 miles on my car so far. But still that means that my car is worth more now than it was brand new! I bought it for the MSRP of $20,900 (I got them to throw in the 7yr/100,000 mile $0 deductible extended warranty).

I also checked some classified listings online and found a dealer down in Torrance selling an '05 with about 6,000 miles (about twice the mileage of mine) for $25,995!!!

It's just astounding that the value of these cars has increased so dramatically. Is this due to the ever increasing cost of gas that these are becoming so popular?

-Ryan W.

Re: Shocked at the value of our cars...
 

I am shocked as well. As much as I love my car, I am seriously considering selling my HCH and replacing it with a 2006 Civic LX. I paid $19000 back in April 2005. If I could get a price close to the KBB price, I would part with my car on a purely financial basis. With the driving tips I've learned on this board and scangauge tool, I am confident that I could consistently get low 40MPG out of one of the new Civics.

Anyone else having the same thoughts of trading in/selling their HCH?

Re: Shocked at the value of our cars...
 

Guess if I keep my 05 HCH nice and shiney, I'll get a lot if I decide to sell.

Re: Shocked at the value of our cars...
 

I plan to sell my 05 HCH and buy an 06 HCH. The tax break is enough incentive for me to spend the extra money on the Hybrid vs. the EX.

Re: Shocked at the value of our cars...
 

;) Well I guess that says to everyone what "$3.00-Plus Per Gallon" will do for the Hybrids trade in Value; Huh?????

Gas here in Nashville; Tn. and Franklin; Tn. is still as of Friday evening $2.23 gallon for 87 octane. May be less come Monday morning.

Terry

Re: Shocked at the value of our cars...
 

according to edmunds i could get $19,355 selling mine as a private party. that's more than what we paid.

Re:KBB is always too optimistic.
 

KBB is always waaaay too optimistic.The NADA guide which gives a big range gives a better idea. CA is a special case-high gas prices,hov lane access,and high green quotient,so it probably has the best used prices on hybrids in the USA.
For some reason HCH folks seem to be a bit more fanatical than Prius folks,not sure why.You can buy a new Prius-2005-on Ebay for $23500(with side curtains but few other options) or so.Why would anyone even consider paying >$22,000 for a used 05 or earlier HCH which on paper is inferior in all respects?You would probably have to ship the Prius-$1000-but you would have full warranty on a "better" vehicle.
On a trade for a 2006 HCH dealers won't give you $20000 trade in unless they are charging waaay over MSRP.No dealer will trade you a 2006 HCH for your 2005+$3000.They aren't stupid.Still,you will do much better than average ,even on a trade in.Depreciation on hybrids bought pre Katrina has been much less than average.Charlie

Re: Shocked at the value of our cars...
 

My 2004 HCH has crossed 50K miles. Given it's almost 2 years old I checked the Kelly Blue Book to see how it is holding up. http://www.kbb.com/kb/ki.dll/ke.kb.sp?kbb&&&usedCars;slp
I bought my car for about $18,500 and now it's listed at $16,500, about $2,000 difference.

I did a comparison with its nearest sister, a similarly equipped Civic EX. That similarly equipped EX went for about $17,300 at the time.
Kelly lists the same car at $13,300. Both cars @ 50K miles, excellent condition.

HCH depreciation is about $2,000
EX depreciation is twice at about $4,000.
If the Hybrid is inflated, then the EX is also, and the hybrid version of the Civic is holding its value twice as well as its non-hybrid version.
(Private party sales)

Re: Shocked at the value of our cars...
 

Hi Hot_Georgia; I believe that because I just traded in a (2005-Civic-Special-Edition) with 6700 Miles on it and it also had all the fACTORY ACCESSORIES, plus Legal Window Tint; X/M Satellite Radio; and not a "Scratch" on it period. It was kept in a Heated and A/C Garage when not being driven.

Civic was MSRP at $19,275.00 Plus all the adds that I just mentioned and the trade in on the 06 HCH was ($15,500.00) so I would have to agree with you on which vehicles are holding there value more (To-Say-The-Least).

The 05 Civic I just traded even had the (Honda Special Edition) Custom Leather Interior installed in it. $1,100.00 Dollars

The plus side to all of this for me thankfully was that I did at least get a "Healthy Discount" on the 06 HCH from (Gary Force Honda) in Bowling Green Ky.

I am sure that all of you remember the story on the "Next-Door-Honda-Dealer" to me (Darrell Waltrip Honda) and how that went in comparision to Gary Force Honda.

Hybrids I think are going to be the Future if we like it or not. Pay now or later but you will pay. (IMO) ;)

Regards;

Terry

BTW: For what it is "Worth", I'm glad I signed up: :)

Re: Shocked at the value of our cars...
 

Just checked my '03 HCH on NADA. Trade-in of $14,650. Not bad, a $6,000 loss on a car I've driven almost 3 years. I can accept that.