Buy used 2016 118k miles for $14k or salvage 2024 8k miles for $26k

If both are in your budget. I'd go with the 2024. newer,design,wear and tear, history, your trading time for money....peace of mind can be priceless.

 

D. ) None of the above.

MAYBE offer 10-11K cash for the 'clean' 9 year old car that's already on the back nine, mileage wise?
As bad as this sounds, it's WAAAAAAAY better than buying a car that's been totaled out.

A 2024 previously 'salvage' (totaled) car???
For $26,000
Nope!

No way.
No day.

PRESUMMING the car was competently repaired.....
Some insurance companies will not insure a 'salvage' (totaled out) car fully, or charge more for the coverage, and it may not be covered by any factory warranty or the CARB coverage.
Check these out carefully.

Salvage title cars are considered, at best, to be worth 50-60% of their street price.
Priuses are small, relatively budget cars and buying a $26,000 salvaged Prius would be the same as paying $50,000 for a used, not-totaled Prius.

Hard pass on that for ME.
I would not gamble on this for the warranty and insurance issues ALONE and remember.....you're dealing with a car that's been totaled.
That means you're going to be MARRIED to it, because how much do you think you can SELL it for?


SO
If the car was not totaled out but only received major damage (CHECK THIS OUT CAREFULLY!!!) then you would need to deduct about 20-30% of the street value of the car in question which makes the $26,000 asking price a little high for what you are getting.
The remaining factory warranty would still be in place (maybe) and the insurance company might not charge you too much more for the comp/collision....BUT REMEMBER!!!
The car is still worth much MUCH less than a non-wrecked car and your insurance company WILL REMEMBER THIS if you ever file a hull-loss claim.
Some insurance company has likely already paid to have this car fixed once.
How many times do you think that they will do this??

TREAD CAREFULLY!
Good Luck!
(You may need it!!)

 

350k miles in a car that lasts "about 15 years" suggests to me that you should get the 2024. You've got a shot at pulling it off without having to do any major renewals.

That is not to say that the 2016 couldn't be made to do it; it's just that it you're basically guaranteed to need to invest some major money into the car in the years ahead in order to get there. Anything you save on it today is already owed tomorrow, and probably at a higher price.

So it's really down to pay now or pay later while prices are going up. Think about that.

In terms of depreciation you should expect both of these cars to be equally worthless after a 350k career. No meaningful difference in dollars recovered.

 

Both sound terrible.

Lately it seems like semi modern Prius are priced out of the market as being a reasonable option.

Get another model

 

if you're buying a prius to save gas money, it probably isn't going to work out.
the 16 might be a decent car if the heat gasket isn't blown and covered up with radiator sealant, but how to know?
the salvage might be a nice car or a nightmare.

 

Something to think about when buying a salvage car - your at the dealers mercy; because the warranty may be void.