Gen 3 Insight Forum banner

1 - 11 of 11 Posts

·
Registered
Joined
·
11 Posts
Discussion Starter #1
Hey guys, do you have any idea where I can check trade-in values for the Insight? KBB, NADA and Black Book has no info yet, and sadly I am not completely happy with my car and want to trade in but take the smallest hit possible. Thank you for any information you can provide. (I drive a Touring model).
 

·
Registered
Joined
·
312 Posts
Are you looking at another Honda, or a different make? You could call around to Honda dealerships too. Mine already offered to buy mine back, and I only bought in September. (We didn’t talk prices.)

I was reading the Accord hybrid forum, where a guy traded in his 2018 gas Accord for a 2019 hybrid accord. He said he paid $5000 on top of the trade and that the MSRP difference between the two Accords was $2000. So he ate $3000.
 

·
Registered
Joined
·
205 Posts
For fun I wanted to see what my 2019 Insight TOURING trim is worth if I traded it in to the stealership.

My 2019 Insight loaded Touring trim has 48,500 miles on it. I bought it brand new and in excellent condition.

KellyBlueBook says its only worth $17,000😭😣😔😭???? Is KBB the most reputable? That's a ~$13k hit in 11.5months on what I paid brand new😭.

Will the resale price go up? When is the best month to trade my Insight in?
 

·
Super Moderator
Joined
·
4,088 Posts
Did your pricing look-up include entering mileage? For the 'average' driver at 12k miles per year, 48.5k miles is 4+ years of wear in <12 months... and that's usually reflected in the resale quote.

The Insight was named 'best resale value' by KBB, by Consumer Guide, and by Edmunds. In the KBB link above, KBB expected the Insight to retain 53.7% in resale value over 3 years and 37.7% over 5 years. That projection would be ~$16.1k versus the $17.0k you mentioned above... so it's actually reflecting higher resale value than they originally projected.

There are folks in the forum who have traded-in their 2019 models and can provide "real world" perspective on trade in value:
 

·
Super Moderator
Joined
·
2,703 Posts
KBB is a nice research tool but in my experience it's not accurate. I got more than what KBB said my Civic was worth when I sold it to CarMax. I also got my Insight for less than what KBB said was the lowest possible purchase price in my area at the time. My Insight EX(around 8.5k miles) is worth $16,500(trade in) - $18,500(private sale) according to KBB. Which is a $2500-$5500 depreciation going by my buy price after 1.5 years. I would say I could get an additional $1K(more if I was buying another car) above the KBB price with some research and negotiation.

Top trims have larger depreciation in general btw. Sort of similar to an iPhone 64GB vs an iPhone 256GB. At trade in you will be lucky to see it fetch more than $50 vs the 64GB unless you private sale it.
 

·
Registered
Joined
·
73 Posts
Trading in a car THAT new is never good... can easily lose your shirt in the deal. I really had to work to get the dealer to give me even close tow hat I owed on the car. I lost less than $1,000 VS what I owed and I was okay with that. Would have been okay with $2,000 but let's not tell the stealership that! Bought my 2020 CR-V Hybrid Touring and went on my way.

In April of this year, I also purchased a 2019 Hyundai Ioniq Limited. Brand new, just a leftover 2019 with 131 miles on it. MSRP is $32,000 and I paid just over $22,000 out the door. Well, I found myself messing around with KBB/NADA online checking the value of this Ioniq and it was worth more than what I owed by several thousand dollars. That day, I took it to a Honda Dealer and told them what I wanted out of it (they lowballed me of course) so I showed them the KBB/NADA values and got exactly what I wanted and purchased a 2020 Honda Accord Hybrid Touring from them.

So, it is possible to come out about even, but rarely ahead. Even when I traded in my 2019 Insight Touring, it had 26,000 miles and they were telling me it was a "high mileage" car. Whatever.... they had it sold in less than a week.

Good Luck!
 
1 - 11 of 11 Posts
Top