Been getting a lot of literature from my local Honda dealer concerning trading my 2005 HCH-I in on a 2010 / 2011 HCH-II. They are claiming 0% interest and little or nothing down with payments close to what I am paying now. Of course I know this is probably not really that possible with a 2011 model but can see how it might be done with a 2010 that the are trying to move off the lot. I realize this is something a person has to decide for themselves but thought I would ask you all folks opinions here as I know we are all lovers of these vehicles. I would be going from my first HCH-I manual transmission to the HCH-II with a CVT and have no idea how that is going to affect me. Since I picked up the HCH-I in March 2008 I have never reset my Trip A odometer and have been maintaining 56 mpg. I was doing a few mpg better before switching to the Michelin tires I have currently but have also had considerably less long distance trips this past year so that too will have forced my mpg down. There is nothing physically or mechanically wrong with the car. I do know that the previous owner drove it like crap because their mileage records barely maintained 40mpg. Plus earlier this year I was hit in the side rear causing the replacement of most of the rear end. The trunk survived but all the trim attached to it had to be replaced about $7k worth of damage. Also took out a deer recently which needed the front bumper and hood replaced so the after market parts are starting to add up. Although all repairs have been done very professionally and you can't tell by looking that there has been any damaged, I have never known after market parts to wear as well as factory so feel a need to consider trading it in while it still looks good. So there you have it I would be switching from a HCH-I manual that still looks good to a 2010 HCH-II that I have no real experience with. Of course if the dealer is just BSing about getting into a new model for nothing out of pocket and for the same monthly payments then I will walk out of the dealership in a heartbeat. I don't even buy the story they write about how they have a need for used 2005 models for customers waiting. LOL Please let me know what you folks think, good or bad I want to hear it. This is coming from a guy that normally drives my Hondas till they fall apart at about 300k+ miles. So trading up is not really in my vocabulary and is all new to me.
the only down side would be your auto insurance will be higher since the vehicle would be brand new. Also, switching to automatic and slightly heavier HCHII, your mileage will probably not be that much greater. If you are looking for better mileage, you may want to wait for a lithium powered hybrid. I believe these will be coming out in the next couple years. good luck in your decision
Hi Larry; Knowing how you drive your HCH-I tells me you'll not be disappointed with the HCH-II... at least after you get the hang of it. Yes, it does not have the Lean Burn capability but given that it is a heavier car sporting a significant leap in technology and equipment it still manages to come pretty close to the HCH-1 MT on the highway when driven right. As always with any Honda hybrid the same operational and maintenance rules apply and on this token, the HCH-II will not surprise you much. If my experience is any indicator you stand to own an excellent and relatively trouble free car should you decide to make the leap. The question of course, is whether this "deal" you are being offered is for real or not. The 9th generation Civic is supposed to be introduced in the Spring of 2011 with the 3rd generation hybrid remaining tentatively scheduled for that time as well. But according to my sources it is also more likely that it will be released in the fall of 2011 instead. So on this front you are likely to have to wait at least 1.5 years until you get a solid 3rd gen unit on your hands. Cheers; MSantos
Personally, I'd stick with the model you have... but I'm all about the maximum FE (big surprise, eh? ). Since you went with a non-OEM tire and are okay with the hit to FE from it, I'm guessing you aren't so much into the max FE bit as I am -- and the hit you're seeing will be roughly equivalent to the reduced mileage you should be able to get out of a newer HCH. The newer vehicle is significantly cleaner, more comfortable, and safer. It is also a slightly larger car with a better and quieter ride than the older model. It is a very nice vehicle and I've no doubt you'd master some new characteristics relatively easily; particularly as you've already had your right foot trained. If you are really concerned about the longevity of your '05 because of the repairs, go for it... just so long as it is a real deal, of course.
Thanks for the thoughts about insurance, its not too bad a hit about $200 a year more but something to think about. I don't expect the mileage to be any better but hope to keep it in the ballpark that I currently experience. Thanks for all the good info, your input is always appreciated. Waiting might be an option for those reasons. As I am not desperate for a new car, waiting is not a problem and I don't think the aftermarket parts are going to rust out tomorrow it is just some things have been adding up lately. If they can't do what they are implying in this "Private Notice: Special Test Market" sale, I will just up and walk out of there and that will be the end of those thoughts for another year. LOL Oh I love my FE as much as the next guy but with the roads being the way they are here in the winter time I really wanted something with a little more traction so I went with the LRR Michelin Greens, when the time came to replace the Bridgestone B381s. They actually do help out but do have a 2-3 mpg hit on FE, but I feel safer on the 6 months that winter seems to last here now. Seems to get longer every year. I like the idea that the newer ones are a quieter ride, although with always running the tires around 60psi, I have gotten use to a noisy ride. Thanks for the input, it is appreciated. And keep it coming folks, I don't go see my dealer until Monday so any and all input are appreciated.
Only 110,000, which is not a major concern except if trading up. If I were to follow my normal driving pattern I would drive a Honda until 300-400k miles and then give it away if it has not driven itself to a junk yard. I have been known to literally drive a car into the ground, so this trading up process is all new to me.
Even if it's all accurate you are stilling adding 3 more years of payment instead of being close to paying off the 2005. Stick with your previous drive it til it dies method.
Agreed. Those mailings are standard fare. We had a "trade-in" mailing for our 2008 Civic and we only bought it in January 2008! For financial reasons you're better off keeping the current car. For environmental reasons you're better off keeping the current car. Given it's a 2005 I'm guessing you'll soon have paid for your HCH-I. That puts you in a great position (and that's why they're targeting you). Don't fall into the trap of accepting having car payments. Once your payments on the 2005 are done invest or save the amount you've been paying every month. Or use the money to pay off other debts if you have any. Add some more to it for your lower insurance payments. With every month that goes by you'll be in a better financial position for when you have to replace your car. To save even more money when you do finally have to replace your current car you could buy a used 2010 HCH-II. Another good reason to wait to buy is that the 2012 model year is going to be very interesting, with EVs, PHEVs and more HEVs coming. (We bought new but we were comfortable taking the hit. We paid cash and we're saving for our next cars assuming a 10 year life.)
I agree also. My car isn't even fuel efficient and the entire response by INATM sums up why I'm waiting to get a replacement car. I wouldnt get more than 700 for my car, but with the way I've maintained it, I'll no doubt get more than that out of it. A new car payment of $350/month does not add up to the cost of maintaining my current car. This way I'm in control. Once you start seeing signs of the car falling apart however, then go ahead and trade as it has been in quite a few accidents. Parts tend to wear faster in such situations.
And, although a new car is always nice, the most efficient thing to do for the environment and economically is continue driving what you have, especially if it fits your needs. The only time I have purchased a new-to-me car is when major safety improvements came along (airbags, traction control, etc...) that I feel are crucial to my family's safety. Hence our HCH2 replacing an echo, and our Prius replacing my Frontier truck. With the truck, there was also a utility factor that I no longer needed.
Okay, I have to agree with all your responses that my drive till it dies method is not a bad thing. I never realized all the good I was doing by doing this, I just thought it was a frugal, quirky trait of mine. LOL I did run over to the dealership this morning just for the fun of it and test drove the 2010 HCH2 and 2011 CRZ. Neither really impressed me that much better than what I already have. Although I love the CRZ's ability to actually haul something. I sometimes get so tired of having to have anything bigger than my HCH-I trunk shipped to my house. But in the long run, the salesperson, just would not do what it takes to give me the deal mentioned in the flyer they sent me so I got up and told him to call me in January when they really want to get rid of the 2010s. Of course you folks have already convinced me that my best course of action is to continue paying off my HCH on its advanced schedule and then just start putting away the monthly payments in an account to use when Tesla proves that they can mass produce the Model S for a few years and survive. Or someone else comes out with a fully electric car that doesn't look like someone from Middle Earth should be driving it, can anyone say Leaf? Anyhow, thanks for all the well though out responses. I knew I could depend on it here.
Funny... guess what I just got in the mail, Larry? "According to our records, you are one of a handful of individuals who currently own a 2002 Honda Insight that is in good condition! This vehicle is in its peak trade cycle. We are willing to make you an aggressive offer for this vehicle. *There is no purchase necessary!* On September 16th, 2010 we checked our appraisal guide and it stated that your vehicle, in clean condition, could be worth $5,490. *However, we feel that your vehicle could be worth even more and our actual offer could differ, up or down, due to mileage, condition of car, and reconditioning.*" The car is worth a lot more to me right now than that figure... even with 102K on the clock, imperfect paint, and an interior that is getting a bit worn. Putting a picture of the 2010 Insight in the body of the letter didn't do much to encourage me either.
Now that car you would have to pry my dead hands from the steering wheel before I would trade "down" for a new insight. The collector's value alone would keep me hanging onto it. I know the same could be said about my last of the manual tranny HCHs so I am going to drive it until I can upgrade to something much better, preferably electric.
And from the Honda dealer (and yet mailed from Massachusetts ) my wife received the following: <Dealer> has just been notified that they will receive substantial incentives from American Honda Motor Co. Inc, if they are able to sell an additional 75 vehicles by Monday, September 27th! These incentives are merit-based and are only offered to select dealers to encourage substantial reduction of in-stock inventory. Selling an additional 75 vehicles will then qualify <Dealer> to receive an advanced allocation of what have become the "Hottest Sellers" for 2011, direct from the factory! This is a rare opportunity, so they are "pulling out all the stops" by slashing prices and offering up to $5,500.00** in manufacturer incentives & dealer discounts or financing as low as 0.9%* APR, to achieve their goal. Our records indicate that you currently own a vehicle <Dealer> is very interested in purchasing. As an added bonus during this 4-Day Event, <Dealer> will buy back your current vehicle for 110% of its current market value', whether leased or purchased (paid off or not). It's a WIN-WIN situation! You win by saving thousands on any New Honda, plus receiving top dollar for your trade and <Dealer> wins by receiving an advanced allocation of the most sought after 2011 Honda vehicles in the area, before their local competitors! To schedule etc ... * On select vehicles for qualified buyers with approved credit. ** Sale prices & discounts include all rebates including owner loyalty or competitive rebates ' Excessive wear, tear & mileage may affect current market value. (Attached fake check below)
