When gas/diesel owners learn about EV operating costs

How does a 2 year old car lose so little value?

 

Decreased dollar's purchasing power (Fed's over printing) + new car shortages?
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That was in effect back in 2019?

 

"the Kelly Blue book on a 2017 Prime was around $27,000 in 2019."

I don't know the way to look at the "historical" KBB value on 2017 PP in 2019. But, I traded my then 3 years old 2017 PP Premium in 2020 at a local dealer for $21132. And I distinctively remember that trade-in was a couple thousand below the KBB value. So, for a 2-year-old 2017 PP Advanced, $27K sounds about right. If it was Plus, then it was more like $24K?

In any case, it still makes the Tesla Model 3 initial purchase price to be roughly $20K more than what I paid for my PP.

 

It's not an obsession. However, there's a pattern where most of your posts try to make the Tesla look better while denigrating the Toyota. When enough people do that, the unfounded rumors can depress prices and demand. The earlier post in this thread said that the Tesla total costs were significantly lower than the Prius, when in fact a lot of made up costs were attributed to the Prius and lower costs were claimed for the purchase and running of the Tesla.

I guess if you don't want me to point out discrepancies in posts that glorify the Tesla and put down the Prime, you can either stop posting them or check your posts for consistency before submitting them.

 

Hi Bob, well my 06' prius is slowly going south as well, first it was the HV battery, which I replaced with the NPB which worked very well for 2 years but now is giving wild SOC readings causing the red triangle of death. The rest of the car runs well with no problems except maybe the Brake actuator pump is now getting mad as well, squealing it sometimes keeps running and running.. Anyone want a nice low miles 06 prius that will need a new HV battery again, and probably a brake actuator pump very soon?

 

I bought and tried an EV once (Nissan Leaf). It didn't work out (stranded only 30 miles from place it was charged to 100%).

I would love to have an EV, sort of. On the other hand there are things that I wouldn't like. Price is one of them. Of course gasoline is getting more expensive. But it's so much cheaper in the long run to buy a cheap used car and just keep it fixed up. My Prius cost me $300 USD, a lot less than the $9,000 used Leaf I had. Even if I get a new battery, new brake actuator and new catalytic converter the Prius is still cheaper for the initial cost.

Gasoline will have to get very expensive, or there needs to be cheap, good, used EVs for an EV to be worth it to me.

 

This site is show a 20% depreciation in the first year.
https://caredge.com/toyota/prius-prime/depreciation
Same at Edmunds
2019 Toyota Prius Prime: True Cost to Own | Edmunds
Makes sense as cars lose the most value in the first few years. There is also locality to consider, and whether the lower value of a trade in is made up in the reduction in sales tax.

Was your trade later on in the year? Could the fall out of the pandemic have started pushing up car prices then?

 

I'm thinking that eventually you'll have both.

Before you can get a really great 5G Droid that's 90% as good as the IOS stuff... a lot of early adopters have to stand in long lines and buy the $1000 models to pay for the 'non-recurring development costs.'

AND...we won't even get into compatibility wars....

There will be a time when BEVs are a good fit for more and more people, and not just the EVangelistic early adopters.

 

Maybe. But not today. Maybe when I'm too old to drive. Or maybe sooner than that. Who knows.

I still use a flip phone instead of a smartphone (ZTE Cymbal Z-320)...

We'll see. Just hopefully they come out with an EV that's an affordable FWD mid-sized wagon with a manual transmission.

 

I don't know how they make estimations, but the depreciation of 22% in 1 year, 28% in 2 years, 36% in 3 years as shown in the graph seems to be pretty standard for most Toyota. I usually use 30% depreciation for 3 years lease as a guideline for judging the deal.

No, my 2017 PP Premium MSRP $30133 purchased in 2017 was sold in Feb 2020 with 40K miles. It was shortly before the pandemic started to impose restrictions locally and nationwide. The cars were still sold with pre-pandemic practice, and I got a $2K dealer discount on my purchase of 2020 PP LE at the trade-in. MSRP $30133 to $21132 is exactly 30% depreciation in 3 years. The KBB value at that time must have been giving a better value for the model already. In this instance, I took the trade-in offer from the dealer because that meant an $1162 discount on the sale tax of the new 2020 PP I purchased. That was one of the reasons, I did not pursue further to get a better offer using the KBB number which was a couple thousand higher, but I had to make multiple trips to make the deals work.

When I sold my 2020 PP LE within 1 year (Jan 2021) outright to Carvana at a few hundred $ higher than the best KBB value, the depreciation was only 15% from the MSRP. And if I sold my 2021 PP Ltd last month at the highest offer from Driveway, then the ~6 mo old car had depreciation of ~9%. I don't know what it sells for now 2 months later... but I would not be surprised if it has less depreciation now in this crazy market.

 

As I'm not yet able to pop for a model Y, my Prius Prime is still doing the job I've expected of her. The gas discussion is coming up at work more often lately. Of the 80 employees at our location, three have purchased a new or used car in the last week alone. All have opted to go the more economic route and have ditched their guzzlers. Most know I have a Prius. Some have asked if I feel the gas prices too. I say I don't and they look perplexed. If I tell them that I last filled up last year they don't believe me. The 3 mile round trip commute helps. I sometimes tell them that I only use electrons, and then there's more questions. As of today...



Today I looked at used Prius Prime prices for a 2017 Advanced in good/excellent condition with just under 30K miles, the same as mine. What I found is that my car has not depreciated even a dollar, considering the $4502 tax credit I received. Not bad. Then I looked at used 1 year old Model Y LR prices with under 50K miles, and those are $8,000 more than new. Yikes!

 

~30% money production means the dollar has ~30% less purchasing power. The fact that proves this is aour old cars now cost as much as when we paid for them. If we could all print our own money the way the government does - it would be legal for us to steal too.
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