Do you guys think the Prius Prime will retain its value?

You can occasionally find a Gen 1 Volt for $2XXX, might need a $5 sensor, a reprogram and battery coolant or some other TLC

oddly the Prime is not really maintaining its value as I can get one for around $11 used or $19 brand new after tax breaks

Good Lord it’s like I was psychic, a year later the $665 title increase came and standard hybrids started paying the BEV tax as well.

The Volt now has most everything DIY documented and I did downgrade cars to an ancient car avoiding the tax
giving my mom the Volt since she is terrified of gas stations (though I do “borrow” my own car occasionally)

Given current circumstances it’s very unlikely I will buy a $10,000 Bolt though I might buy a used Aptera in 5+ years if they
1. Exist
2. Don’t constantly break
3. Don’t pay the title and registration increases a 4 wheeler does

My guess is the state will still want its $665 motorcycle or not

 

How much was the original price of Gen 1 Volt? Still not a "pennies on the dollar" price range, I would think.

 

Do you guys think the Prius Prime will retain its value? | Page 2 | PriusChat

 

Everyone who believed in the intrinsic value of Prius Prime, is sitting pretty now. Their only dilemma is whether they can find a new one if they sell their existing one for a profit, breakeven, or at worst a very low ownership cost per year/mile/whatever that they've had it.

A lot of the pro-Prime comments in this thread (including patting myself on the back for my own) have stood the test of time better than could have been predicted. And the skeptics have been resoundingly proven wrong. The Prime has not become obsolete, unwanted, or worth "pennies on the dollar".

Far from it. People who couldn't afford to commute in their big SUVs and crew cab pickups during the gas-price spike, have finally seen the light about reducing their transportation costs. Some will still blow a lot of hot air about EVs being a conspiracy to bring the grid down, a government plot to stop them from burning rubber with their V8, but some are quietly buying vehicles that get double, triple, or quadruple the mpg. They might keep their trucks also, but they're using a truck for doing truck things, and a car for doing car things.

A certain percentage of people will revert to gas guzzlers the next time that gas prices are low for a year or so. But I think that this time, they won't as completely ignore the chance that oil prices could spike again or even go up permanently, whether due to supply chain problems, workforce problems, inflation, refinery problems, wars changing global supply, or things we can't even pinpoint yet.

I live in New England where oil heat is common. Almost every family member is installing super-efficient mini splits that work down to lower than usual temperatures. Some are getting pellet stoves, to provide a good percentage of their heat from cheap renewable wood pellets. It's smart to not be too dependent upon oil prices and natural gas prices, and to have more options of how to heat, when the price of each fuel source changes in unpredictable ways.

Not already having a household budget destroyed by transportation fuel costs before heating season starts, helps a lot. It will be an expensive winter in any case, but not having to set the thermostat down to 50F to afford to fill up the car, is a big deal.

 

well, i confess to be resoundingly wrong. i guess i couldn't foresee the virus apocalypse

 

The last time I checked (early this year), I was offered for my 2021 PP, then less than 6 mo old, $32K. I would have gotten ~$6K profit if I sold it then. But, there was no replacement vehicle that was available. So, I made a reservation for a Subaru Solterra and then made an official purchase order in April when the price was announced. The thinking was that Subaru would have plenty of tax credit quota left whereas Toyota may run out of the 200K limit soon. My plan was to sell (or trade-in) PP at that time and use the profit at that time.

Well, fast forward to the present. With the new Inflation Reduction Act enacted, the Subaru BEV no longer qualifies for any tax credit and neither does Toyota. I canceled the Solterra order and put a reservation fee for a Silverado EV due to be released next fall. In a meantime, I may look around to see other BEVs but looks like I am going to be driving my "aging" 2021 PP a bit longer.

I hear you. At $6/gal for heating oil, I am paying close to $300/mo on the heating oil but that's without any heating. Yep, that's the cost of hot water only. Comes winter when I have to turn up the thermostat, it will be double what I pay now if the price does not drop. I am installing heat pumps before winter. The thing is that with an already very high electric rate in our area, not sure if they will pay back or not. I considered both pellet stove and wood stove as well, but it will only be providing space heating. The cost of firewood is the cheapest but the pellet is more expensive than an efficient heat pump run by electricity. I am betting on clean energy. 100% of our electricity is generated by a community solar farm.

Here is the annual heating cost comparison by fuel at the current average price in my state.
Source: Residential Heating System Cost Calculator | Efficiency Maine

 

I just sold my 2020 Prime Limited with 17K miles for $100 less than the original sticker price which I did not pay. Not including a $1,000 rebate and the $4,500 tax credit.

 

Did you have to buy a vehicle to replace the one you sold?

 

Yes, I pre-ordered a BMW i4 last year and it just came in. Lucky it was derived before the new laws were signed so I am getting the $7,500 tax credit.

 

My 2020 LE even with 120k on it will still price out around 28k in some circles.

 

My wife pointed out a Carvana listing for a 2017 Prime advanced just like mine. At 29,000 miles they want roughly $34K for it. Mine has 50K miles, so would probably sell for closer to the $27K that I paid for it.

Odd coincidence: Last week we had two people knock at the door to ask if our 12 year old Camry was for sale. One was driving what appeared to be a gen 3 Prius, the other a Honda accord. I suspect that both had just seen the same news story about the profits that can be derived from flipping clean air cars. There was only an hour or two between the two car shoppers.

 

I have found that Prius cars have always held their value. I believe that many used car buyers are concerned about day to day costs of driving a car.

Having experienced the 70's gas shortage, and observing the run up in gas prices at the time with predictions of $4.00 / gallon gas
due to the prospective closing of the straights of Hermoze (sic) I purchased my first Pri.

Flash forward to now ,and the western word - the whole world except in a few countries with state aid, are forced to pay big $ for their energy requirements.

The Prii that I have traded have always held their value, even before the current situation. I usually keep a car for 3 years and trade.
I'm into the 2nd year of my 2021 PP which I like very much. At trade in time I'm considering a Ford Maverick for a change of pace, and may also check out an all electric vehicle, and rely on my wife's 2015 V for long trips.

 

After bringing my 2020 PP Limited to the dealer for service, they sent me an email offering the price I paid for it new (including the tax rebate) to buy it back. I don’t want to do that, but I am flattered and feel quite lucky to have bought when I did.

 

When gas prices were low I bought 2 Priuses that were 5y old for $5k/each. Prius value fluctuates inverse to gas prices.

The way Buffett keeps buying the energy sector I have to believe energy costs are gonna keep skyrocketing. Prius gonna go up in value!