High depreciation on Insight?

  • Thread starter Thread starter Bruce C.
  • Start date Start date
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Bruce C.

Anyone have any ideas about WHY the Honda Insight has a significantly higher
depreciation than other Honda cars?

It appears to be well engineered and well made. The aluminum body has some
plusses and minuses - it will never rust, it is strong enough to protect the
occupants in a crash (but a serious crash typically totals the vehicle). A
lot of folks appear to dislike the two-seater arrangement but the Del Sol
was popular for several years.

Thanks for your ideas.
 
Bruce C. said:
Anyone have any ideas about WHY the Honda Insight has a significantly higher
depreciation than other Honda cars?

It appears to be well engineered and well made. The aluminum body has some
plusses and minuses - it will never rust, it is strong enough to protect the
occupants in a crash (but a serious crash typically totals the vehicle). A
lot of folks appear to dislike the two-seater arrangement but the Del Sol
was popular for several years.
Click to expand...

Don't buy a new car to sell.

Buy a used Insight, then!
 
They are a new technology with an unproven track record. I'm not surprised
they'd depreciate quickly.
I'd agree with Stephen, buy a used Insight, although I don't know why
someone would want to sell one, 60-70MPG, rocks!
I'd buy one but, I stil don't have the $$
 
I wouldn't be surprised to find a high depreciation. While it is new
technology and there are risks there, I would guess the biggest reason
is a lack of market. While a new car offered in relatively low volumes
can wait for that special buyer, used car prices are much more market
driven. I suspect that there just aren't enough serious used car
purchase prospects for that car right now, hence the going price
drops.
 
Bruce C. said:
Anyone have any ideas about WHY the Honda Insight has a significantly higher
depreciation than other Honda cars?
Click to expand...

If I had to guess, I'd say it is because the batteries are going to be
costly to replace. As a hybrid vehicle, it uses batteries that wear out
over time. I cannot remember the actual amount of time, but I do recall
that Honda estimated the cost to be between 1-2K. (I've not checked this
figure, so feel free to correct me.)

Another hypothesis: The Civic hybrid is larger, holds more people, and
sells better. It could be that it has made the Insight less attractive
for many people, and thus impacted its market.

Joel
 
|In article <Mf%Ta.137490$N7.19978@sccrnsc03>,
|
|> Anyone have any ideas about WHY the Honda Insight has a significantly higher
|> depreciation than other Honda cars?
|
|If I had to guess, I'd say it is because the batteries are going to be
|costly to replace. As a hybrid vehicle, it uses batteries that wear out
|over time. I cannot remember the actual amount of time, but I do recall
|that Honda estimated the cost to be between 1-2K. (I've not checked this
|figure, so feel free to correct me.)
|
|Another hypothesis: The Civic hybrid is larger, holds more people, and
|sells better. It could be that it has made the Insight less attractive
|for many people, and thus impacted its market.

And then there's the styling of the Insight.
Looks like something from Korea around 1970.
 
I'll give you that. Eye of the beholder etc.
Actually, it calls to mind the Citroen SM of the 1970s.
5/8 scale, perhaps.

|Styling?
|While everyone is entitled to their own opinion (no matter how WRONG it
|might be ;-)...
|I think I'm going to have to disagree with this one. If you look at the
|other cars in the similar price range (~20K), the Insight is among the best
|in visual appeal. When I first looked at the car, I wasn't thrilled about
|the styling especially the rear view from the driver's seat. Every car has
|its shortcommings (some more than others), but the Insight can grow on ya if
|ya let it. I suggest that the Insight is the only in its price range that
|doesn't "look like a cheap car". I've kept my past three cars for greater
|than 10 years each so the longivity of a car is something I can appreciate.
|I haven't worked out all the details yet, but I think the Insight is
|reasonably keepable for 10 to 15 years (it is the best candidate I have
|found yet).
|
|Bruce
|
||>
|> |In article <Mf%Ta.137490$N7.19978@sccrnsc03>,
|> |
|> |> Anyone have any ideas about WHY the Honda Insight has a significantly
|higher
|> |> depreciation than other Honda cars?
|> |
|> |If I had to guess, I'd say it is because the batteries are going to be
|> |costly to replace. As a hybrid vehicle, it uses batteries that wear out
|> |over time. I cannot remember the actual amount of time, but I do recall
|> |that Honda estimated the cost to be between 1-2K. (I've not checked this
|> |figure, so feel free to correct me.)
|> |
|> |Another hypothesis: The Civic hybrid is larger, holds more people, and
|> |sells better. It could be that it has made the Insight less attractive
|> |for many people, and thus impacted its market.
|>
|> And then there's the styling of the Insight.
|> Looks like something from Korea around 1970.
|
|
 
Simple - no buyers for used Insights

The resale value of a car & hence the depreciation is based solely on the
marketplace. Basic capitalism. If no one wants to buy it, the price keeps
going down until it reaches a point where someone will pay it. It has
almost nothing to do with the quality of the car.

The ideal situation if you are buying one of these is to buy it used. People
who buy new should pay attention to depreciation ratings if they plan to
trade after a couple of years. Of course if you intend to keep the car
forever, it doesn't matter, through you still come out ahead if you buy a
car with high depreciation from the used car lot rather than new.
 
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