Yeah, your used Prius is probably worth $50 more than it was pre price increase. Enjoy the new found wealth.
In a word, yes. If the new ones are more expensive, the market will adjust the available stock (including those already on the street) upwards. The difference will be marginal.
Yes, all you need to do is install the Safety Connect (which is not formally available for retrofit), the USB port, and any other changes which I may be missing. If you spend the money to add all these, like the newer prices new cars will have, will probably recoup at least $100 of it should you resell. Seriously though - Why would a repriced 2010 (with newly added options) make your resale value higher? If anything, I would think that as they become available used with these new options, it may reduce the value of our without them.
I think you are confusing the new options that have been added to the Nav packages with the additional increase in MSRP that Toyota has announced.
Someone could also start a thread - which options add value,, and which mean nothing at resale - as an example, I predict in 2 years, safety connect will mean nothing towards resale. The only thing you'll get from many options, is coverage by your insurance - should your car get totaled or stolen... It's funny how a new Prius ranges from 22K to 36K - that's a monstrous jump for what you get (IMNSHO) - Nav/backup cam - yes leather - yes iPod - yes (though most stereos hae this today), Bluetooth - yes. 17" rims - ??? Safety - no Solar - no (what does it do again - oh yah - pretty much nothing) LED self leveling headlights - bwaaahaahhhaaaaaa - no Water repellent side windows - huh? - no Plasma cluster - please - this makes sense if it allows dual temp control - getting an ionizer - no. JBL? - not highly reviewed - get a real stereo after market...
The extra $400 on the MSRP won't bring you a dime more than the rest of us get in three years when we sell or trade.
IMHO: The JBL sucks but not as much as the base radio. It will have value, but it's built into the levels. Plasma Cluster not an option Solar will bring about what a normal sunroof brings, not the premium Toyota charges for the solar and fan. The 17" wheels / LED's and Fog lights will bring a premium. People buying used cars are just like people buying new cars. They will pay for extras. Especially when they are packaged like the V and not just individual add ons. As always with any car buying a stripped Prius you will always lose less of the MSRP than on the loaded ones
These things can change with certain EVENTS occurring at any given time, like gallon-gas price changes and gluts of certain products like hybrid batteries... but when I wonder what resale values will look like, I check Toyota's posted residuals on their leases. They have an entire department that calculates resale values monthly, weekly. They look at cars after 2, 3, 4, 5 years and compile data to determine how to set residuals right now. On a V package with the AY, etc (advanced tech, usb, safety connect) the residual for a 12K annual expectation and 36 months (a common lease) is 20259. That is for a car with an MSRP of $33469. Now, let's get technical and have some fun! I have a blizzard pearl car coming in (sold, with just what the buyer wants on it) with AY and illuminated door sills, remote engine start, factory security system, the works. That's 34,867 at MSRP. Guess what residual is? $20259. Meaning, the extraneous extras are not worth anything to Toyota at lease end. And, this gets even better: guess what the residual is for a V package with just the NAV (MSRP 30,700) ? No tech-package? $20,259. Meaning, they have determined that all of these "technical goodies" don't faze the buyer of a 3 yr old Prius in their estimation. Or, it's perhaps a way for them to glean a few extra bucks when they sell/auction the cars off at lease end to a Toyota or Lexus dealer. Can't blame them. Look at the horrific bath they took when gas soared and they ended up with thousands and thousands of large SUVs in the hole by huge $$$$. It's got to be made back a little bit at a time over time. That lease example is good today. 10/9. Lease residuals change with time, often downwards. I usually tell folks that at lease end, throwing their keys back is a BAD idea. I like to get folks' cars appraised to try and pull equity out of them. If I think there's $$ being left on the table, I will bless my clients with it back. It's always worth a try. Last year, I had 26 Prius 2006 cars come back to me after lease end to roll into 2009's and every single person had equity but 1, as his car had damage to every darn body panel, it was keyed where he works. If anyo9ne's wondering what other models residualize at after 3, 4, 5 years, drop me an email.
I'm just coming off my first ever lease with an 08 Expedition. I went ahead and bought a Highlander Hybrid knowing I would not want to keep the Expedition (the thought of driving a 14 mpg hog just doesn't seem right anymore). The residual is $22,300. It's still worth $30,500 (PPV on KBB). My Toyota buddy told me he's easily give me $27,500 on a trade (against a discounted new price). Well looks like I'm buying the Expedition. I'm not throwing that equity away, even if I don't need the vehicle. I could basically drive it for a year for free. It's useful as a third vehicle or even driving this winter (save me $1000 not buying snow tires for the HH). I'm hoping to maybe trade it on something sporty or selling it outright next spring. Would love a hybrid sportscar.
My guess is that the average person shopping for a used Prius wont care about the stuff Toyota added. Thus, all 2010 models get thrown into the same bucket. If the price for a new '10 goes up, the price for all used '10s goes up (not much - maybe a few bucks).
