Found a 2001 Prius for $500 187k, good buy?

2001-2003 = Buy if you're a collector or a tinkerer. Avoid otherwise
2004+ = "The people's Prius".

I just helped a coworker buy a 2009 loaded with low miles for about $2.5k.

 

Okay, can't believe I'm saying this but this good deal Prius is gonna cost a boatload of cash to fix. The mileage isn't particularly high and it probably has at least 100k miles left in it. But to do the battery right--go to Toyota and get an updated new HV battery is going to cost about $26 to $2800. More than likely, you will need a 12v battery, around $200. The inverter coolant pump probably will need replacing soon $1 to$2 hundred. Then tires, etc.


I have an 02, that I bought cheap, but it had 3 year old battery pack and a set of fairly new tires. If you search my posts, you'll see that I am one of the Gen 1 proponents. Nicest little car I've ever had.

The main problem is the battery buy in. If you invest the money in a battery, you are committed to fixing whatever getting it started reveals. Better to take the $3 or $4 grand as a downpayment on a much newer Prius.

 

Battery will cost $2,500 - $3,000.
So add that into the cost.

It may not seem like that good of a deal once you consider that.
You will likely have to do some other tinkering.

Gen 2 Prius is a bit better with more support, but if you are tenacious you should be able to deal with the Gen 1.

Realistically though, if you like other aspects of the Gen 1 Prius, you may want to consider a Toyota Echo of that era.
Should be similar or less cost to buy, get similar gas mileage, and you won't have any expensive hybrid components to replace.

 

I like Brian am also a gen 1 proponent but agree that it is going to cost to get it up and running

But to address your original question here in the San Francisco bay area there are a lot of gen 1s on the road - so $500 for one in really good condition that needs a battery is a reasonable, but not exceptional price - if you are sold on having a gen 1 and willing to tinker then might be a good starting point - I paid more for a running 2002 that the hybrid battery went out on 6 months later and decided to go ahead and put a new battery from Toyota in it (approximetely 2500 installed) because I like the gen 1 better than the gen 2 (I can't afford a newer one) - but I have more invested than the car is worth (see my other posts for all the things I have done to it so far) and have become more of a collector in some ways

Your call

 

Selling it for $3k is unlikely. You can buy 8 year newer Gen-2's for less than that now. And very few people want a Gen-1. They are essentially an Echo Hybrid. They served a great purpose before the spaceship arrived, but they are well past their prime.

I have a history for loving cars that nobody else loves, so if you like it. I get it. Go for it. But don't go into it thinking it is an investment or you can recoup money, or anything like that. If you buy it, you will most likely be the last owner before it gets crushed. Nobody else will love the car but you. Nobody will recognize it on the road.

 

If you're thinking of fixing it and flipping it, you could get a remanufactured battery. We don't recommend them for owners that are gonna keep the cars, they all use old battery elements and have a severely limited life time. There are some remans around that use 2nd and 3rd gen battery cells the might be a good alternative. If you're thinking of fixing and keeping, you really need to get the Toyota replacement HV which is all new components.

They do look alot like an Echo. Having driven both, the Prius has a much more versatile power train. Better for the 2 lane highways and the mountain grades in the west where I live. I llike that they don't look so "Prius-ey"

 

I've messaged this Ebay seller to see if he can make a 38 module kit and the cost. If the PO is mechanically adept, rebuilding a battery isn't impossible and $750 for a set of modules isn't too bad. Lot (10) GEN 1.5 Hybrid Battery Cell Module Toyota Prius 2001-03 HV | eBay

 

I have put parts in cars that I knew weren't worth the cost of the repairs. The way I justified it was I knew the history of the car and had a lifetime warranty on all the parts from Advance Auto.
The only way you make out is if you keep the car long enough and it gives you good service then hindsight kicks in and then you will know if you made the right decision.
Flipping cars for profit?

 

The seller mentioned above got back to me. His answer is:

You can buy this item for $680.00 ( 4 x $170.00 - 10% off ) excluding shipping until 12:00 am on February 09

Someone else could buy this item, so take advantage of it while you can.

Yes, I can send you 38 batteries.
However, all batteries are individual.
It is not a cell kit.
And the price reduced by 10%.
After purchasing 4 lot (40batteries) you will reconcile $ 34 ( 2batteries) before you pay.
will shipping 38 batteries.
38 battery will be $ 646.
The postage is 62.50. (USPS Priority mail Flat Rate Box).

 

That's right around the $20/module for random modules I estimate to recoup. Depends on how much work you want to put into it and how many times you want to rip the car apart over the next few years.

 

Keep in mind every part on the Gen-2 is easily sourced (including battery) but for the Gen-1 you're into rare/odd car territory.

I've had to pay $400 for a leather shifter cover before on one of my more exotic vehicles just because nobody else makes them and they're super hard to find. If you can't find the part in a junkyard/eBay, you'll be paying out the nose.