Last post on Nov 13, 2011 at 11:20 AM
You are in the Toyota Highlander Hybrid
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Toyota Highlander Hybrid, Hybrid Cars, SUV
#2805 of 4026 tax deduction for 2005 for HH & resale value
Apr 09, 2006 (6:42 am)
Accountant just got done with our taxes (ouch) for last year and I asked my husband (a tax attorney) how we file for the tax deduction (not a credit - it is a credit for 2006) for the HH. He showed my that on line 36 you write in "clean fuel" and then write in $2,000 (if you bought your HH in 2005)on that line.
Since we probably won't know about resale value of our vehicles for a bit, I'm curious about the Prius and its resale value as the hybrid that's been around the longest. Does anyone know? I seem to recall that initially they didn't get rave reviews but CR seemed to warm up as Toyota improved the vehicle.
I do agree that Toyotas do seem to last forever. We have a '93 Toyota pickup truck that is just wonderful and I sold a '90 Celica in 2001 to a friend and he says its still running just fine.
#2806 of 4026 Re: tax deduction for 2005 for HH & resale value [mmreid]
Apr 09, 2006 (8:01 am)
There is a perception dichotomy right now.
We have traded in a decent number of recent model Gen2 Prius' as people have stepped up to the new '06 models. These buyers got IMO ridiculously high tradein values ( e.g. 2004 w/ 58K miles $19000 on what was originally a $26300 purchase ) .. But the vehicle sat for 4 months on our lot and no one looked at it. Suddenly poof it was gone. 3 others we couldn't sell so we sent them to auction and they were snapped up immediately!! Go figure.
As best I can tell Prius' are depreciating about the same as Camry's; i.e.
20% yr 1
10% yr 2-5
5% yr 6-10
#2807 of 4026 Re: HH Electric Motor(s) Overheating & Nav System? [mike4698]
Apr 09, 2006 (6:11 pm)
So what is the story on the dinged up HH Otis 1?
the dealer was taking a little over $5g off sticker for the hail damaged car so I passed. We plan on taking a trip to the in-laws this summer in chicago, so I'd rather spend $1000 more and get a non-dinged car in nearby kenosha.
#2810 of 4026 How close to flat does second seat fold?
Apr 10, 2006 (12:10 pm)
I was eyeballing an HH -Sunday is the best time,a local dealer usually leaves many cars unlocked for just this purpose-.Unfortunately, the HH was on of the few that wasn't unlocked.
The rear most area-where the 3 rd seat is hidden- looked pretty high.When the second row is folded will it be flat relative to the area behind it?I know it won't be horizontal,it will tilt upward 5-10 degrees because of the thickness of the seatback,but will there be a big bump or step up-step down between it and the area behind it?
I have been gone from here for a while-Katrina-busy-short of $$-but I finally have the $$ for a HH.The local dealers-New Orleans metro-still won't deal on any of the Hybrids,but they are the absolute worst anyway with Gulf States adding all those "port and dealer" options-all junk and air(pinstripes,protection pks,spoilers etc).It looks like the pricing has become more favorable,even with the run up in gas prices.The general public has decided that the fuel savings-and improved performance- on the HH isn't worth the extra $2500(or less) over an equivalent V-6 Highlander.It is a 5mpg better vehicle(20 vs 25mpg)so it will use about 4000 gallons in 100,000 miles-the V-6 will use about 5000 gallons.At 100,000 miles it will use about $2800 less gasoline at $2.80 a gallon.Ignoring insurance and the extra money you could make on the $2500 difference-also ignoring the $3.50/gal gasoline we will have this summer(or worse if we get another Katrina,or when we pull out of Iraq);they-the HHs-should be selling better than they are.The initial poison pen articles really killed the HH-great for late buyers.You can buy a AWD base model for $31500+TTL=~$34500 with our taxes-minus the $2400 credit~$32100 out of pocket-roughly $2000 more than Camry Hybrid will cost net-and about $5000 more than a loaded Prius -net(they are TTL about $30,000+).
Well-how flat does the back become with both rows folded?Thanks.Charlie
#2811 of 4026 Re: tax deduction for 2005 for HH & resale value [kdhspyder]
Apr 10, 2006 (12:29 pm)
KDHSPYDER-the Prius had really cooled down when gas was $2.11/gal and oil 59/barrel.Now that gas has spiked to $2.70 and oil is $69 the Prius has spiked again in price and sales.The used ones were such a tough sell because dealers wanted $21000 for a used Prius when folks could buy the same one new for $24500.Subtract the $3100 credit and why buy used.
Wow,it was crazy to give $19000 for a used one-you guys have to sell a $19000 used Prius for maybe $21500 to make it worthwhile!
The rising gas prices have created a bit of a Prius frenzy again;folks are once again ignoring the math.Paying(after the credit but with TTL) $26000 or more for a tiny,not very comfortable,relatively uncrashworthy car just doesn't make sense-especially with all the SUV's,and 3/4 ton trucks that populate south La now.Heck,very soon the 2007 LE Camry-with a power driver seat and side side curtain airbags standard-will be buyable for $21,000 total.The $5000 difference puts the breakeven between the 2 at about 100,000 miles-trade in time.All that time you have driven in a bigger,faster,safer more comfortable vehicle that has a lot more evacuation potential-2 adults+ 2 big greyhounds can fit in a Camry(with the backseat"hole" built up to make a ~36"x60" flat space for the dogs.
The Prius is a great vehicle,but I expect plenty of folks to try to trade up to a Camry Hybrid.It is a much better "American road trip" do it all vehicle.
#2812 of 4026 Re: How close to flat does second seat fold? [phoebeisis]
Apr 10, 2006 (12:45 pm)
I have an ICE Highlander with a 3rd row seat ... it folds absolutlely flat. No problems there.
I wouldn't be surprised if when the new Highlander debuts in the Fall that the HH version will be like the Camry here linked to the 2.4L with less power than the ICE but much better FE.
3.5L ICE at ~268 hp and FE in the mid 20's
2.4L HH at say 190 hp and FE in the low 30's
but little or no price difference with both starting around $29000-30000.
There would be only a small tax benefit depending on when it's debutted.
JMHO but it makes sense to me if Toyota wants to increase the sales of hybrids.
#2813 of 4026 Re: tax deduction for 2005 for HH & resale value [phoebeisis]
Apr 10, 2006 (12:52 pm)
Yep you are exactly correct.. trade-in at $19000 plus costs put our cost at ~ $20900 so the min retail was ~$23000 and that was a tough one.
The TCH should be a big hit.. but it's the same price $26500 as the Prius so it's 6 or 1/2 dozen of another for the buyers. Each appeals to a specific segment. The Camry buyers I think have been waiting patiently in the wings while the odd-ball Prius people ( me ) have been getting the benefit of the HSD. I love the Camry and if my situation was different I prolly would have gone for the TCH over the Prius but I got a good deal and the FE is about 35% better than the TCH will likely be. I'll hit 100,000 mi in 3 yrs. or less.
#2814 of 4026 Re: How close to flat does second seat fold? [phoebeisis]
Apr 10, 2006 (12:56 pm)
Very glad you are back safe and sound!
Third row folds flat with trunk. Second row slants up a few degrees when folded. Transition from folded 3-rd row to folded 2nd-row is fairly smooth, no large bump or "step-up".