I wish you guys never brought up this subject~~

Seriously, this is good news. My 05 HCH (only 4 months old) has about the same reported KBB value as it did when I bought it. All, please check my logic here...

So if I sold my 05 HCH and bought the 06 HCH, could I realize tax savings / deductions on BOTH? That's assuming I can find an 06 at a decent price.

Help please?

Thanks!
Lansing

 

You need Jan. delivery on the 06 HCH to take Tax Credit; Jan. 1st or after.

HTH

Terry

 

What tax savings do you have in mind?

Yes, you can probably claim the $2000 deduction on your 05 HCH even if you sell it before the end of the year. And you can probably get another deduction on a 06 HCH if you buy it this year, or a tax credit if you buy it next year.

The net value of a deduction depends on your tax bracket. If you're in the 25% bracket (a lot of "middle class" people are) then the deduction is worth $500 in your pocket.

But keep in mind that, depending where you live, you probably paid close to $2000 in sales/use tax when you bought the 05, and you'll pay the same again on the 06, and there ain't nobody gonna give you back that money.

 

You say "better" I say "better" is in the EYE of the beholder and I for one love my HCH! Oh and I got it for under MSRP AND they had them iIN stock! Kevin

 

this was so interesting i couldn't resist checking my FEH too, an '06 which i've had for only 2 months. kelly blue book actually doesn't have the '06 FEH loaded yet, so i just used '05, but according to them my resale value has gone up about $500! trade in value dropped a little, but i have a feeling a dealership would go high, knowing they could probably sell the car w/in a day or two.

 

Good point. I, too, love my 05 HCH and I'm just playing around with scenarios. The tax break you mentioned doesn't offset the sales tax--but boy just thinking about a car with Nav is cool.

Thanks for the Insight (pun intended).

Lansing

 

boy i wish someone would give me an insight

 

Ok, I broke down and drove the 06 HCH even though I love my 3 month old 05 HCH. The new seems nice. Power off the line and an appealing look (at least to me). I'll likely stick to my car--I love it, and I definitely don't want to pay sales tax twice!

Has anyone heard...are there really '06 enhancements such as noise reduction, etc? I saw many little things that would be nice - stereo control on the steering wheel, NAV, etc. But those are minor.

Thanks,
Lansing

 

I bought my 04 HCH CVT AT-PZEV in April 04.
It has 20,000 miles.

I paid $19,300, $2000 under MSRP.
KBB today is $20,185

Amazing!

And Yes I am considering selling it private party and getting an 06.
But I'll wait till Feb or so when some of the frenzy is over.

 

Me too...

I'm in CA, so I don't know if I can score stickers for the HOV lane if I wait too long. And yes, I'd prefer to wait out the 'frenzy.'

That said:

- Wondering if I can get KBB or other...I saw an '04 HCH with 20K on it at the dealer today for $25!!!
- Taxes as someone said is a drawback. I'll be taxed twice.
- Have to figure out if I can take advantage of the tax incentives and what that timing is.

Good stuff!