Current Prius resale loss almost 3X that of a Civic, according to KBB

that and imaginary u/a.

 

Agreed. The media witch hunt has definitely hurt our resale values. For the time being.

However, since I don't trade in cars but instead drive them till they die, this doesn't affect me.

It's also a great time to buy a Toyota product, because of the witch hunt discounts and even 0% financing. Much better values, now, than before...and they weren't a bad value to start with!

Chuck

 

So, don't sell yet.

This is just like people who sell stocks when the market drops. Those who hold don't lose when the stock rebounds.

 

You do have to factor the cost of your car is almost 1/3 more.

Your Prius kept 76% of its value.

The Civic kept 88% of its value.

When you factor in the prices, the Prius did loose 2x as much of its value, but not as bad as the 3x when you ignore the difference in the purchase price.

 

wait till mid summer when gas is $4 a gallon IF its that cheap. the way the gulf crisis looks right now, we are in for a multi trillion $ cleanup that could take years to resolve. all of which WE will pay for indirectly.

and besides u dont have accurate data. tells what it the difference is based on the "estimated" purchase price of one of the cars?? hmmm

u say, u dont know what the price was so u use "today's" price?? is that the price of a 2009 Civic or 2010 Civic? or what?? if its a 2009 even if its new, it lost sale value the minute the 2010's were released.

 

quick question: what would be the depreciation comparison for 05's with 100K miles?

 

It's just like mutual funds or your 401K. If the market is down and you sell you lose. If the market is down and you dont sell you dont lose a thing!

You still have a great car!

 

HAH! You're comparing Hondas to the far superior and more expensive Prius?? Hondas now are cheaper in quality and don't hit 300000 miles as frequently as Toyotas. Now I will gladly take that "$6000" hit over a Honda anyday. I was forced to ride in my friends' "new" Honda Civic the other day and it was way worse than a Prius. Loud, cramped, thin feel, cloth seats that looked like the 1970s.

The Prius, IMHO, is in between that class of a Toyota and Lexus. It us the cheapest car a wealthy person will buy or most expensive a lower class would buy. That cannot be said for a Honda.


As others have said, this "loss" we've incurred is completely irrelevant for those planning to get their 300000 miles. Even if you think it's still sad here's some perspective: Honda owners will be crawling to the Toyota dealerships in 5 years but won't be allowed to enter. In the end Toyota will win. Don't even get mr started on American cars...

HOLD HOLD HOLD

 

Have you guys heard about the "lost decade", referring to the 2000 - 2009 period? If you followed the market all the way down you would have to wait a long time to recover those losses. Better to sell and park your assets in cash, than to take those losses.

My personal investing rule which has worked really well for me, is to pull out of the stock market during those periods when I am unemployed. That was in 2001 and in 2008. My being unemployed has been a pretty good leading indicator of stock market declines. Also, I don't wish to take the investment risk at a time when I don't have a reliable stream of earned income.

Regarding 2G Prius depreciation, given the 3G release and the recent adverse publicity it is not a big surprise.

 

Patrick, are you unemployed now? Today's market took a huge crash.

Please tell us when youre unemployed more often.

 

thanks for that bit of depressing news. read that and checked my stock portfolio...lost $500... nice

not even gonna look at my 401K

 

dont thank me, you can thank patrick for not telling us he's unemployed sooner. I couldve sold yesterday.

 

Thankfully, I remain employed and have a reasonable investment in various stock mutual funds (as well as bond funds, a stable value fund and CDs).

I would not call a 2% drop in DJIA and 3% in NASDAQ a "huge crash". We'll continue to see market volatility, both up and down, while the Greece debt issue remains open.

Unless the US suffers another successful terrorist attack of 9/11 scale (or I become unemployed again, whichever happens first), it's reasonable to maintain some stock market exposure via well-chosen stock funds.

 

Back on topic, you can't go by asking prices - nobody pays that, especially now with the automobile market in the toilet. Honda dealers are notorious for asking way overboard prices for their new and used cars (and some Honda buyers pay them). Ask those Honda dealers what they paid for the cars on trade-in! I'm not sure how accurate/up-to-date KBB and Edmunds are either.