Resale Value Sucks!

OK...well NY is next best thing to CA...DC has hybrid sales tax exclusion wonder if for used, DC metro is hybrid hub. One thing I do is check CarMax.com in Laurel MD location for pricing ideas. They have new and used Prii.

North VA has some HOV and local tax benefits for used Prii. We pay hefty annual car tax on car value so a used car like yours might be nice, would be hard to afford new. Say in Arlington someone could get HOV, and much less car tax vs. new, and Arlington gives hybrids a car tax break. Triple play (the best HOV can only be gotten if they already have HOV but they can transfer plates).

 

OP didnt your car just get stolen and could it be in a lake? just asking

 

Wasn't that Mary from Orlando?

 

LOL yeah.....it was so if it worked for her, I assume this owner has insurance

 

Can you afford to keep the Prius (as a daily driver) AND get the Audi (as a weekend "fun" car)? You'll get a lot more bang for your resale buck if gas prices get high again. Right now, they are pretty low, so the demand for the Prius goes down.

Myself, I don't worry about resale values, because I drive my cars until they don't work anymore. Already have 5 years and 120,000 miles on my car, and have only put 2000 gallons of gas into it. Compared to a SUV that would get 15 mpg, I've not spent $21,000 on gas, not to mention tires, belts, services, etc.

Mathhammer (15 mpg into 120,000 miles = 8,000 gallons of gas. 8000 - 20000 = 6,000 gallon difference (6,000 * $3.50 gallon = $21,000 and this assumes a SUV doesn't use premium fuel).

 

My v had a sticker of around $29k, I took 2 off. But even in 2013 I saw the car decline like it was an old Plymouth

Our 1007 Camry hybrid value even at 120k plus mile surprises me with a value of $7k or so. Cars are never an investment, but at only 21K after two years, my Prius is a huge loss by comparison.

Good thing I have always planned it as a long term car, say six plus years.

 

Unfortunately any brand new car depreciates drastically as soon as you drive it off the dealer lot.

I guess best bet is to purchase used so most of the depreciation has already occurred and more likely a bigger return on your investment if you decide to sell in the near future.

 

the longer gas stays cheap the less the prius is worth, I bought one to fix up and resell....a year later I still have it and would love to break even on my "investment" ...but I never buy new cars..learned that lesson when I was younger, lost 50% in just over 3 years when I made my last payment and asked what they would buy it back for. we live and learn

 

gas is almost $5 a gallon here in Southern California so resale value should increase

 

When researching purchase of a Prius it appeared that there was an unusually high depreciation the first year, which tapered off by the 5th year. Prius HV and PHV resale was fairly standard after 6+ years.

 

If you're whining about a few grand depreciation from a new car to a used car, "wise financial moves" are not really your forte. Any new car will lose a bunch of value the second you drive it off the lot, quite literally. You bought the car when gas was high and discounts were low. Now you want to sell when gas is low, discounts are high, and you have a used car with excessive miles on it. Why would you buy a 2 year old car with too many miles over a new car with no miles? The price. It has to be low. The dealer is going to want money, so knock off a few grand there too.

If you want a fun car, get a fun car. But the Prius is a car to keep. I've got the Prius and a Leaf along with some "fun" cars, exotic cars, and plush SUVs. Leaf and Prius are what gets driven almost every day. But I wouldn't trade the weekend time in the DeLorean for anything else.

 

maybe it's time to join the guys in the socal mod forum.

 

really? only 2.53 here in florida...why so high there?

 

well that's a different topic but FL does not have EPA reformulated gasoline (yet) then you gotta look at state and local taxes (which are not reported on your receipt so that's problem).

 

You say that like the Audi would be a wise financial move.

 

I was sore at having to pay $2.31 the other day.....

Iran is about to enter the oil market.
If I'm one of their competitors (i.e. the Kingdom,) I'm going to start dumping oil on the market to reduce their initial attractiveness to foreign investors.
Kai Ryssdal says I'm wrong and that oil will go up in the months ahead.

Either way, since all of the eco-chic are driving BEVs now, and the G4 is only months away from arriving in the dealerships I'm guessing that the G3 market will be soft for 6-8 months. That's the bad news.

Good News: Priuses still every bit as reliable and frugal as they were 3 years ago. I don't think that $2/gal gas is especially cheap, so I still think that they're worth it.

Call me if gas gets and stays below $1/gallon!