what you paid for 2007 FULL LOADED HCHII?
#13
Gap insurance
Here is why
In the event of total loss of the vehicle, the insurance coverage pays only the fair market value of the car minus the deductible.
Such coverage is normally not sufficient to cover the financial obligation of the lessee. GAP covers this difference between the financial obligation and the insurance settlement.
Remember is you lease a car, you do not own it, and are obligated to pay "rent" at a set amount along a given time. If the car is totaled and has depreciated to a level that is below the lease value that you have contracted to pay, then you are on the hook for the difference or the "gap". That is what Gap insurance covers you for.
However if you own the car, you absorb the risk of this gap. And with a car like the Hybrid, it is very unlikely even if you have a long payoff term that you will owe more than the car is worth.
The only time to even consider Gap insurance for a purchase is if you have bought a car that has a high initial depreciation rate, you bought the car with no money down, and you live in a high risk area.
In the event of total loss of the vehicle, the insurance coverage pays only the fair market value of the car minus the deductible.
Such coverage is normally not sufficient to cover the financial obligation of the lessee. GAP covers this difference between the financial obligation and the insurance settlement.
Remember is you lease a car, you do not own it, and are obligated to pay "rent" at a set amount along a given time. If the car is totaled and has depreciated to a level that is below the lease value that you have contracted to pay, then you are on the hook for the difference or the "gap". That is what Gap insurance covers you for.
However if you own the car, you absorb the risk of this gap. And with a car like the Hybrid, it is very unlikely even if you have a long payoff term that you will owe more than the car is worth.
The only time to even consider Gap insurance for a purchase is if you have bought a car that has a high initial depreciation rate, you bought the car with no money down, and you live in a high risk area.
Last edited by Orient Express; 04-02-2007 at 01:46 PM.
#15
Re: what you paid for 2007 FULL LOADED HCHII?
I paid 23,400 for my 07 Civic Hybrid w/Nav just last week... this was more than 2,300 less than the sticker price. They also gave me 1,000+ over the trade-in value on my 04 Vibe. Didn't get any of the extra insurance, sealants or GAP; but am considering buying the extended warranty off the web.
#17
Re: what you paid for 2007 FULL LOADED HCHII?
$21,000 is a good price ..... a great price if it includes the destination fee.
Definitely drive it before you buy it. I mean, don't order it, sign papers, give a deposit, etc., because it is slightly different than a regular car, and you want to be sure that you like it.
Don't believe dealers if they tell you they "just sold the last one." That's one of many sleazy tactics that no one should tolerate. Honda has ramped up production of HCHs since last year, and there are enough out there, even with $3+ gas.
Email a few dealers, and I promise you'll find one in your choice of colors.
Good luck!
Definitely drive it before you buy it. I mean, don't order it, sign papers, give a deposit, etc., because it is slightly different than a regular car, and you want to be sure that you like it.
Don't believe dealers if they tell you they "just sold the last one." That's one of many sleazy tactics that no one should tolerate. Honda has ramped up production of HCHs since last year, and there are enough out there, even with $3+ gas.
Email a few dealers, and I promise you'll find one in your choice of colors.
Good luck!
#18
Re: what you paid for 2007 FULL LOADED HCHII?
Don't believe dealers if they tell you they "just sold the last one." That's one of many sleazy tactics that no one should tolerate. Honda has ramped up production of HCHs since last year, and there are enough out there, even with $3+ gas.
Email a few dealers, and I promise you'll find one in your choice of colors.
Good luck!
Email a few dealers, and I promise you'll find one in your choice of colors.
Good luck!
They are more than willing to "sell" me one without seeing it. I told them that's ridiculous. We'll see what happens.
#20
Re: what you paid for 2007 FULL LOADED HCHII?
I can definitely wait. I'm pretty happy with my car at the moment. I do need to upgrade for when we have children (wife can't drive manuals), but that's over 9 months away. I like everything about owning a hybrid, hence my intent to buy one. I worry that these crap dealers in my area won't work with me, since I won't buy pre-driving.
The look on the first salesman's face when my wife walked out was priceless.
Do you think I'll be able to find an '07 in 2 months, when I can't find one in stock now? Or will "ordering" an '07 still be an option when the '08s come out.
The look on the first salesman's face when my wife walked out was priceless.
Do you think I'll be able to find an '07 in 2 months, when I can't find one in stock now? Or will "ordering" an '07 still be an option when the '08s come out.