Prius Future Resale Value

at 250k miles and probably 17 years old, i don't expect the resale value to be worth much more than any other toyota in good condition... looking for a replacement camry, we found that to be in the $1500-3000 range.

which works for me because if we get 250k miles out of a car over 15 or so years (that's about what we expect from this one) we'll be able to have saved enough in car payments to buy a couple of them in cash. and you've sure as hell gotten your money out of it then!

 

<div class='quotetop'>QUOTE(DeadPhish @ Oct 21 2007, 01:38 PM) [snapback]528527[/snapback]</div>

I'd just like to point out that it is not for lack of fuel. It is for lack of cheap oil. There's a big difference. We can get our "fuel" from the sun and the wind. We don't have to depend on oil if we choose not to. So far we choose to depend on oil.

 

<div class='quotetop'>QUOTE(darelldd @ Oct 21 2007, 08:40 PM) [snapback]528654[/snapback]</div>

Now if all these press junkets about a company that revolutionized a way to make solar panels at a cost of $1 per watt came to fruition I'd drop my oil like Lindsey Lohan dropping alcohol going into rehab... ok really bad example.. but you get the point

 

How much Nickel is in the Prius battery and what is the value of it?

I have to think that in 5-10 years, those batteries are going to be worth something. It won't be until the car is dead AND the battery is removed that the resale value is gone.

 

http://www.metalprices.com/#

Currently nickel is $14.67 a pound, which is over 4 times more expensive than copper!

 

<div class='quotetop'>QUOTE(DeadPhish @ Oct 21 2007, 03:38 PM) [snapback]528527[/snapback]</div>

I agree. I intend to keep my Prius as long as gasoline is readily available, so resale doesn't really matter to me.

This is a point other hybrid critics have made, and when the 2004 model Prius came out, the prices on the U.S. Gen I Prius did drop (probably in line with standard depreciation, instead of below-normal depreciation for the current style?). The infamous Art Spinella invokes this argument as well, that a lot of people are buying this for the gadgets, and as newer, gadgetier vehicles come out, they'll drop this one like yesterday's hula hoops. Also, if it's a specialty vehicle with a lot of unique parts, when it's replaced it will be hard to find parts for it (Spinella's big point for his anticipated short life of a Prius). And to some extent, the market for other hybrids has apparently suffered more depreciation than their sister cars (like the civic and HCH, Lexus 400h, etc.) I haven't looked at the original data, I think there's already a thread on that. Personally, I think the Prius market is bigger than the gadget-buyers and there's enough of a market already to keep at least the 2004-2008 model year cars well supplied with after-market parts. Resale values are still quite good, that's for sure.

 

I don't really care about resale value. I have a car that uses less gas and has lower emissions. Today, now, which is what matters. And I have good reason to expect that it is a quality car that will last a long time.

As for Warren Brown, all his anti-hybrid blustering is having no effect here in the homeland of the Washington Post. Everywhere you look in DC and the burbs of MD and NoVa, you see Prii. You can also find a fair number of other hybrids (they're harder to spot since they don't have distinctive shapes, but they're there if you look closely), and Arlington County (Va) just approved a new hybrid-only cab company and authorized an established cab company to add a bunch of hybrids to their fleet -- this in addition to all the Prii in the county's own fleet of vehicles. Granted, many Virginians bought hybrids for HOV exemptions, but that's not the only reason for their popularity and the fact remains that people are buying them like crazy around here. The big car columnist in the big hometown newspaper is not stopping it.

 

Hmm...

The DVD navigation systems, satellite radio, and mp3 players built into many new cars will surely depreciate much faster than a 10+ year battery pack. But I didn't hear anything from that writer about how cars with such features will soon be available at "laptop prices".

 

Warren Brown may know automobiles, but he sure doesn't know squat about computers. Computers have very low resale value b/c their performance increases exponentially "following Moore's Law" (quotes to emphasize the common misconceptions around this household idea). If automobiles improved at such a rate, gas consumption wouldn't be an issue. We'd be using something like a gallon of gas for all the cars in the U.S. His analogy is so very, very flawed.

 

<div class='quotetop'>QUOTE(daniel @ Oct 21 2007, 09:44 AM) [snapback]528427[/snapback]</div>

I had to wait for mine to come off the boat, the local dealership can't keep them in stock. They also had some used Prii on the lot that even after a couple years were still selling close to the price of a new one. It's a special car indeed.

 

I bought my Prius for $24900, the new price is about $37000 and has been about that since 2004. The price of my 2004 was about 33% less than the new price at 3 years old.

 

And do I have to point out that Mr. Brown makes the common mistake of quoting the down-graded EPA estimates and stating it as if this only affects hybrids? 30% drop in the estimate for a Prius sure looks like a lot compared to a 30% drop from a vehicle estimated to get 15mpg...

 

<div class='quotetop'>QUOTE(nerfer @ Oct 22 2007, 12:20 PM) [snapback]528914[/snapback]</div>

I may be rationalizing, but this does seem to be a good argumnet against buying bells-and-whistles in a car. Car gadgets are always overpriced. Buy a minimal car instead and add your own portable better-priced gadgets.

 

When/if it becomes necessary to replace the batteries in my '04 I should think my choice would be to sell the car or purchase newer technology batteries at a fraction the cost of a new car and keep on ticking. Meanwhile, I'm doing the right thing for the environment NOW, supporting the new technology going into ever better cars NOW, and for you cheapskates...I'm saving gas money NOW. In short, we're living the future NOW, not wasting our time debasing other's decisions because PERHAPS SOMETIME in the future there MAY be better technology (duh).

This avowed liberal has two hopes...Iraq surge works enough to get us out of there and that US car companies get it together to help strengthen our economy all the while providing a LIVING wage to their workers which will mean cutting CEO obscene income down to a reasonable % of the lowest-paid-worker.

 

I'd like to think I'll still have a working 2004 when I go looking for my 2014. At my current pace it'll have less than 200,000 on it.

Now, I wouldn't mind a better battery upgrade if one comes along before I need one, but the odds of 2004's being considered upgrade targets are slim. I'll be lucky if a used battery is handy...