Hello PC, Today I got a huge reality check on DEPRECATION. I was looking to trade in my 2010 Prius V w/ATP which now has 98300 miles. I bought it a year and 4 months ago for 20,000 when it had 62000 miles. I looked up the Edmunds and KBB values before I left, they were 16,570 and 13,543. They offered me 10,500. I was shocked! I guess I will be keeping my car until the wheels fall off which hopefully wont be before I finish paying it off in 44 months! Have you ever had your Prius appraised? what were you offered?
All vehicles depreciate. But that seems like an low ball offer. There can be a lot of variance in what a dealership will offer you as a trade in. I wouldn't necessarily take any value that is offered as a trade in as being indicative of normal depreciation. Edmunds and KBB are probably better indicators.
The stealership MUST MAKE not under 4K above their trade in price, IMO they are cr$$ks with white gloves. I had my share of disappointment t too.
if you figure a lease at $300./mo. and 12,000 miles per year, that would be a cost of $10,800. so i'd say your about average. if you want to do better in the future, you have to buy and sell privately. but it involves more work and risk.
What a rip off! I considered trading my 2008 (package 6 w/ 90,000 miles) about 6 months ago. I was getting offered about $11,300 as a trade. I ultimately decided to just keep it. I agree to try CarMax or try selling privately. Good luck, hope everything works out for you.
Thanks Guys, I really love my Prius! its just getting up there in the miles, I may just keep it for a few more years or try to sell it myself, still not sure yet.
