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Discussion Starter #1
I'm trying to determine which will be a better course - purchasing a new Insight with the $2,000 deduction which of course would include the new car Warranty. The MSRP on an 05 MT is roughly $19,500. My second thought would be to purchase a used Insight with less than 50K miles which I have priced for around $10,000. However, considering I am located in Dallas any purchase will probably require buying out of state, sight unseen, trusting the owner's description and shipping which will add about $1,000 to the purchase price. Thus, I can get a used Insight for around $11,000 or a new one for roughly $19,500 minus the $2,000 deduction. I'm unsure what amount the $2,000 deduction would actually reduce the purchase price since this is not a pure tax credit.

If I could find a low mileage (20k) Insight for under $11,000 then I think its a no brainer to buy used. However, what I'm finding is paying around $11,000 with shipping for an Insight with 40-50k miles and thus, out of basic warranty or pay another $8,000 for a new one.

Any input would greatly be appreciated.
 

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Used is deffinitely the cheaper way to go. Plus finding a new one will be difficult as it is. Rather than paying to have it shipped why not just take a long weekend off work and fly to the car and drive it home? I know it's a lot of road fatigue, but you'd get to know the car and at least be able to see it before you hand over thousands of dollars. They pop up everywhere from time to time, check ebay as well (you have legal recourse here if a car is misrepresented).
 

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Rick said:
Rather than paying to have it shipped why not just take a long weekend off work and fly to the car and drive it home?
That's exactly what I did. I flew to Fort Worth to get the car, used, and drove it home, learning as I drove. Buying new is always best, if you can afford it. You may have to look around for a while to find what you want, I looked for several months, but it has been well worth it.
 

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atlaw4u said:
I'm trying to determine which will be a better course - purchasing a new Insight with the $2,000 deduction which of course would include the new car Warranty. The MSRP on an 05 MT is roughly $19,500. My second thought would be to purchase a used Insight with less than 50K miles which I have priced for around $10,000. However, considering I am located in Dallas any purchase will probably require buying out of state, sight unseen, trusting the owner's description and shipping which will add about $1,000 to the purchase price. Thus, I can get a used Insight for around $11,000 or a new one for roughly $19,500 minus the $2,000 deduction. I'm unsure what amount the $2,000 deduction would actually reduce the purchase price since this is not a pure tax credit.

If I could find a low mileage (20k) Insight for under $11,000 then I think its a no brainer to buy used. However, what I'm finding is paying around $11,000 with shipping for an Insight with 40-50k miles and thus, out of basic warranty or pay another $8,000 for a new one.

Any input would greatly be appreciated.
:arrow: Well you did say if anyone had any comments you wanted to here them. So, I would (Strongly) recommend that you buy yourself a new Insight if you can afford the purchase.

Here's why; I work at a dealership myself for the past 9-Yrs. and I can tell you that there is (NO-SUBSTITUTE) for the factory warranty and also you will be the one that puts the "New-Miles" on your new Insight. Plus, If anything does go wrong the chances are the (YOUR) selling dealer will take care of you because
(They-Made-A-Profit) on selling you the car.
I can tell you that we (The-Dealership) take care of our customers first (Always). Think about it for a moment do you take care of the person that spends money with you or the person off the street that purchased from out of state.

BTW, There are I think "5" Honda dealers right around me and not one has a Honda Insight and to add further insult to that they do-not even have a Honda Insight Brochure. I'm Serious: Pitiful :x

I hope this will help you with your decision, If you want a new Honda Insight you can get your dealer to special order you a (SOLD) Insight. Your dealer will contact their regional sells rep. and that rep. will place a (SOLD-ORDER) to Honda. There is "NO-OTHER" way to get your hands on a new Insight unless you just plain luck out an a local dealer has one on his lot. (I-DOUBT-THAT)

I personally have just went through this same situation here in TN. and thats why I can tell you how it works.

The Insight my dealer ordered (SOLD) for me is suppose to be in at the end of June per the regional sells rep. info. back to my ordering dealership.

If I can answer any further on this for you I will certainly give it a shot. :)

BTW, If you want to wait until the Insight gets here for me to drive to see if I want one or not I will be happy to contact you the day it arrives so you can make a deal with my dealer to purchase it. I am not going to purchase it unless it comes in as a (2006-MODEL) and I don't think that will be the case. This is just in case you cannot work something out with your local dealer.

Insight is a New Formula Red, W/Manual Trans. and A/C

Terry
 

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Broader impact

Why are you buying an Insight? If you are like me, it's partly because you care about the planet, rather than just caring about your out-of-pocket gas expenditures. And part of that is that is sending a signal to automakers about what consumers want. You do that more effectively by buying new than by buying used.

That said, I bought mine used, sight unseen, and had it shipped. Partly because I was buying to replace my CRX after it failed inspection, and I didn't want to go without a car for more than a month or two. My ONLY regret in buying used was that I threw away my opportunity to send Honda a strong signal that consumers want efficient vehicles.

Your choice also depends on how much you drive--I drive very little (commute by bike, and take the bus or train for long trips when possible), and so I don't expect to wear mine out even though I started with 35k miles.

Charlie
 

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Discussion Starter #6
Thanks for all the input guys. I appreciate the information but this is still a difficult decision. If you come across a nice used Insight let me know. I have started to discuss purchasing a new one with some of my local dealers so I will keep you posted.
 

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Discussion Starter #7
I guess if I find a low mileage Insight for a great price it will make my decision easier. I think I've located a new one at a dealership here in Texas so I'm trying to plan some time off next week for my first drive. I will keep you posted and I must say - this site is incredible. The devotion you guys (and gals) have for this car is amazing. This is a new age of hot rodding but instead of trying to extract every last horsepower the challenge is to extract every available MPG. I'm more of a gearhead than a technological person but I am fascinated at all the little things that can be done to improve mileage on these cars. It looks like great fun. Hey, anyone in the market for a low mileage 99 BMW 328i?
 

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tiger said:
<snip>
BTW, If you want to wait until the Insight gets here for me to drive to see if I want one or not I will be happy to contact you the day it arrives so you can make a deal with my dealer to purchase it. I am not going to purchase it unless it comes in as a (2006-MODEL) and I don't think that will be the case. This is just in case you cannot work something out with your local dealer.

Insight is a New Formula Red, W/Manual Trans. and A/C

Terry
Sorry to read you won't be purchasing an Insight over so technical a point.

AFAIK model year production dosen't change for Honda 'til August. If has been reliably reported that the Insight has only been manufacutred in limited production runs for the last couple of years. And that Honda is on its second run for this year. So I doubt that any 06 models will be available before a decesion is made later this year whether or not to continue the Insight's production in an early 06 run.

HTH! :)
 

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Current incentive from Honda on a new 05 Insight:

Terms and Conditions

2005 Insight Special AHFC 1.9% A.P.R. Financing

Special AHFC A.P.R. financing available on all new 2005 Insight models. 1.9% APR financing for 36 months. Not all buyers will qualify. Example for 2005 Insight: 36 months financing at $28.60 a month for every $1,000.00 financed. Dealers set actual vehicle sales prices. See participating dealers for details.



Offer valid from 5/3/2005 through 7/5/2005, on new and unregistered 2005 Insight Models. Only on approved credit by American Honda Finance Corporation through participating dealers. American Honda Finance Corporation's standard credit criteria apply. Example for 2005 Insight: 36 months financing at $28.60 a month for every $1,000.00 financed. Not all buyers will qualify. See dealer for details. Dealers set actual prices. Limited time only.
 

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Insightful Trekker said:
tiger said:
<snip>
BTW, If you want to wait until the Insight gets here for me to drive to see if I want one or not I will be happy to contact you the day it arrives so you can make a deal with my dealer to purchase it. I am not going to purchase it unless it comes in as a (2006-MODEL) and I don't think that will be the case. This is just in case you cannot work something out with your local dealer.

Insight is a New Formula Red, W/Manual Trans. and A/C

Terry
Sorry to read you won't be purchasing an Insight over so technical a point.

AFAIK model year production dosen't change for Honda 'til August. If has been reliably reported that the Insight has only been manufacutred in limited production runs for the last couple of years. And that Honda is on its second run for this year. So I doubt that any 06 models will be available before a decesion is made later this year whether or not to continue the Insight's production in an early 06 run.

HTH! :)
:) John, The reason for the 2006 versus the 2005 Insight is really in my particular case a business decision only. I think more than likely that the 2006 Insight will be a carry over vehicle just like from 2004 to 2005, but I just purchased from my next door neighbor (Honda-Dealer) a new 2005 Honda Civic EX SE and I know I'm going to take a bath when I trade it back to them on the Insight so I may as well cool my jets and take the beating on a 2006 Insight and if Honda does elect to upgrade/change anything that will be an added bonus. If I was not already driving a new High Mileage car compared to the normal SUV sold around here I would probably jump all over the Insight coming in for me to try out.

Remember I work at a dealership in administration and know what the real numbers are on (Hold-Back/Advertising/And True Invoice) so I kinda have to play the dealership game even If I personally don't like it. :cry:

terry :)
 

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I think used is the way to go. I'm all for using fewer resources and putting out less pollution and cars are often emotional purchases so appearance matters, but at the end of the day, it doesn't make financial sense to me to buy a new Insight. They depreciate too much. Five years ago, I would have bought a new one based on the "cool" factor but couldn't afford it. Fifteen months ago, I paid $9800 for a 2001 with 45,000 miles. I now have nearly 60,000 miles and I bet I could get nearly that much for it. The previous owner paid for the depreciation and I'm actually happy that I had to wait.

These arguments would really apply to any car.
 

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I bought my 2000 manual Insight with 15,000 miles on it for $10K in March 2004. I'm now looking like a genius.

Do buy used. You'll take less of a depreciation hit, and if it's a car that doesn't have any obvious problems (bad tires, low lifetime mpg, IMA light on, a recal during a test drive), I'd buy it.
 

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Discussion Starter #15
Thanks for the input. Honda is the only car I have bought new because they hold their resale value so well. However, due to the Insights complexity and I assume potential purchasers concern over replacing big ticket items the Insight does depreciate quite more than other Hondas during the first few years.
 

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I don't know if it still holds true now, but Insight's previously did take a bigger than average value hit once they were driven off the lot. You might run some figures through kelly blue book online and see what values are doing. Insight's seem to have been holding pretty good lately.
 

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I bought a used Insight last year and couldn't be happier. I paid $9,350 in 2004 for a 2001 model with 60K miles on it. Like others I had to travel to pick up my car, but the drive back was memorable. Today it's harder to find a good deal with gas prices being so high, but I still think it's better to save money by buying used.
 

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Discussion Starter #18
KBB currently values a 00 Insight with 40-50k miles at roughly $9-$9500 and only $7400 trade in.
 

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Hmmm, they don't have 05's listed on there yet, but say a 04 with 5000 miles on it is in the $16K range. So plan on loosing about 1/4 of the value once you drive home if you buy new. It seems like that's pretty good. Last I looked I could almost sell mine for what I paid for it now, and that's putting 35K miles on it.
 

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Discussion Starter #20
It appears the opinions are pretty mixed. However, I'm glad to see many of you who bought used are still happy with your purchase after several months and/or years.
 
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