The challenge with selling your used Prime

So I'm switching to the Hyundai Ioniq PHEV... just bought it this past Saturday. Does anyone have tips on how to private party sell my great condition used 2017 Prime Premium with 27k miles? Where to advertise, price to ask etc? My go-to option is to just make a posting on Craigslist at the moment...

 

So my question is how dealers would deal with an offer if you decided to trade it in after a short time. Would they factor in tax rebates?

 

According to Edmunds, "The federal tax credit isn't applicable to an electric vehicle being purchased for the purpose of reselling it. That's a gray area, though, and would be tough for authorities to prove".

So no, the dealership will not know anything about the Tax credit, they will just price the trade-in offer as usual, I think.

 

dealers use blackbook, which likely takes tax treatment into account. easy enough to look up

 

Cars.com, autotrader.com, Facebook, or I think there's a for sale section here isn't there ?

What are your likes/dislikes with each of the cars?

 

I used CarGru and Facebook the last time I tried to sell our old minivan with a major defect. I live in a very remote rural area away from major cities, but still, those two platforms pulled a lot of inquiries. The only thing is that they were just inquiries, nothing more. I did not get anyone interested enough to driveby to even look at the vehicle. In the end, I used a junk car buying service Peddle.com. I did not get the best money but was much better than the trade-in credit a dealer was going to give me.

I would think selling newish pre-owned PRIME at fair market value is going to be difficult in any CARB states. If you can get some buyers in other states where PRIME is scarce, you may have a better chance. Good luck.

 

Overall, I think the Prime is a well made car, reliable and solid. However the lack of Android Auto/Carplay is a huge disadvantage for me when compared to the Ioniq. This is one thing among several other things that are highlighted on this website.

Interesting. How would one go about advertising to out of state buyers? Here in CA which is a CARB state I've seen ads like these that are at market value.

I'd be interested to know where this thread is...

 

What would be the cost of buying a new 2020 PRIME in CA? Here in NE, the cost of buying new PRIME can be as low as $19K for LE, $20K for XLE and $23K for Limited, after all the rebates and incentives. No one in the right mind would buy a used PRIME at fair market value which is higher than the new PRIME.

Several used car selling sites are nationally marketed. The question is how often out of state buyers actually consider buying the used automobiles from individual sellers? I really don't know the answer to that question.

 

it’s a simple answer, cut KBBs value in half and someone will buy it.
(I have done just that, KBB on the truck I bought was $12000, I paid $5000 private party) in fact every vehicle I have bought (save 1) I traveled to get and it was because the price was around half what I could expect locally.

used car buyers buy based on how much money is in their pocket, if you have a $25,000 car and the local buyers have $1500 that is what you’ll get. (From past experiences)

Private party sales are rarely for cars under 10 years old for a reason and when I’ve tried to buck the trend I always got better offers from CARMAX and wreckers than I could hope for private party

 

Yes, you make a good point and it should have been obvious to me.. though why I can't a find such a priced prime on the used market here in CA? I'm just not really seeing it. All the used ones I've seen are at, or close to KBB. What am I missing?

 

Yeah, but it's just listing price. Do you have any idea what price they are being sold at? All the new PRIME in dealers are listed at MSRP or very close to it, but the actual sales price is nowhere near that number.

 

Are you finding many that are offered for sale by private sellers, or are you just seeing dealer listings? I guess I'd expect it to be nearly 100% dealer.

Not to be harsh, but IMO a secondhand Prime in California without carplay and (presumably) no remaining eligibility for carpool lane access just isn't going to move the needle for most buyers.

 

Prius Cars For Sale | PriusChat

 

you can try to sell it thru Carvana or Carmax. I've got offers from Carvana that are higher than the dealer.
With all the rebates and incentives on new Prime, it doesn't make sense to buy a used one.

If you really want to sell it, try Offerup. my car is listed there for months. I've had some offers but its not near what I listed it for.

 

The most classic case I recall, in 2012 some in WVa. were paying as low as $15k for new PiP with $7500 state credit.
And several years later selling for $21k, but it was a temporary window of opportunity before the used market price went down faster.

 

Well, after the initial roll out of the Prime to CARB states and strong plug in markets, Toyota focused more on regions that missed out in that rush with following model years. It is possible that there is a local shortage of new Primes on dealer lots that has used sellers thinking they can list for higher and still get a sale.