Hi everyone! I'm new here so I hope this is the right place to post this. I'm not yet an official Prius owner but I'm heavily considering getting an 08 from a private seller. I'm trying to figure out a good price to start negotiations but from my research it seems most Prius owners say KBB is not the way to base price. Is there a source that I could use for direction then? Also, she still owes a note on the car. Is there anyone who has experience with this and how that works?
I would look at prices at Edmunds and NADA, besides KBB. Also look at ads on places like autotrader.com and Craig's List.
Tell me exactly what model package a 2, 3 etc.., color, condition of the prius, any prior accident, did you run a carfax yet to make sure it is clean etc..., does it need anything ie.. tires , all services kept up on it etc...where you are located, east coast prius are not worth as much as west coast priuses etc...Most likely the seller owes more than what they are selling it for, but that is not your problem. Remember they do not own the car so it has to be paid off first, this may take a while before the title is even in their hands up to a month if it is financed through Toyota. Problem with buying from sellers who still owe money on their cars is that they don't have the funds to pay it off, that is where you come in, it gets complicated since most buyers expect the title to be in their hands when money is exchanged. Be specific and I can give you a good idea what it is worth. if you pay cash you can usually get a better buy than if you are trying to finance it with the private seller. Best thing to do is find a prius that is paid off, title in hand , one owner with all records and up to date with no prior accidents or paint work. Did you know that brand new 2013 package 2 prius are selling for $23,000 something to consider if you run into a lot of prius owners who think their low mileage cars are still worth kbb retail value. Gen 3 prius are ten times better than the 2nd generation, only know this because I have owned many myself.
the seller has to pay off the note, it's not your concern. make the best deal you can, if you like it, buy it. good advice in posts above. welcome to priuschat, all the best!
