Resale Value of 2004 Rebuilt Prius 92K??

Hi all, I need some advice. I've been a long-time lurker on these forums because I can't get over the "WOW" factor the prius (I'm kind of a techy), and I've come to the point where the problems with my current '04 Chevy Malibu are too annoying

Anyway, I've been looking for a prius for the past month and have seen one where the second owner of a loaded rebuilt prius with 92K is selling it for $7900. He says he's logged almost 30K on the car, replaced the tires 14K ago, and has maintenance records. I've researched prices on Nadaguides, Edmunds TMV, and KBB, and an '04 in FAIR condition is priced between $8000 - $8500. He's selling it because he bought a 2010 prius, so is probably motivated to sell for car payments.

So is his price fair given that it's rebuilt?? I mean, it's bad enough (for the owner) that it's rebuilt, but now since the car has had 2 owners, I figure the price should bet much less than that, maybe $6K to $7K. Or am I low-balling too much??

Also, the reason why I don't want to buy a newer prius is because I want to pay cash, have a limited budget, and have peace of mind that the prius is so reliable that mileage does not matter. For me, it's actually more appealing to have a second owner on a rebuilt car because it takes the guesswork out of quality of repair.

Sorry for the long post, but I wanted to be thorough. Thanks for all your help!!

 

Yes, it was previously salvaged but has a rebuilt title now.

 

The owner says it was involved in a "minor accident on the right side", so there shouldn't be any big parts damage done. But I'll probably ask for pictures (I would think he would have them from when he bought it..). Thanks for your own price analysis as an owner of an '04.

 

But should that be from 3-4k beneath "excellent", "good", or "fair" condition? Because the prius *looks* new in the pictures, but that's just a good detailing job. Also, the it seems that the prices of priuses in Washington are inflated, since its common for people to post '04 priuses with 100K+ for over $9K

 

Thanks for your input. I know you're one of the zen masters of the prius, so you're opinion is really valuable.

I have looked through threads of salvage prius buyers, and there seems to be a good mix of people who are happy with their purchase and those who had problems to no end. Also, I figured since the owner bought another prius, then I could infer that the current one he's selling (assuming that it was his first experience with this car since it is an '04) must have been good to him and that he just wanted to "trade up". And, I'm aware that priuses tend to be salvaged more often by insurance companies because of the complexities of the car.

Given you're estimate of $5K, it doesn't seem like too bad of a risk. That's how much my malibu is worth now, with a clean title and 72K!!

 

Yea, assuming the seller would even consider a $5K offer (he put "$7900 FIRM"), I would bring it to a tech. From reading the forums, I assume things that definitely need to be done for a prius with this much mileage is coolant pump change, 12V battery (if its original), ATF change, and of course oil change.

If not (and probably what most people consider to be the best thing to do) I can always be smarter buyer/investor and wait for December when more people are selling their cars for cheaper, esp. since the Chevy Volt and Nissan leaf will shake up the market a bit. But, it's good to know the resale value of rebuilt cars in general.

There's always other fish in the sea...

Thanks!

 

Haha, I agree. Maybe I should see how long it takes for him to sell it...But if I were him and there is absolutely nothing wrong with the car, I would just keep it, rather than sell it for only $5k.

 

Some people think this is minor: Toyota Prius Damaged/Salvage Cars for Sale, Buy Damaged Vehicle, Used Cars. I was in accident last year where I had to replace the front bumper, A/C condensor, recharge the A/C system, headlight assembly, side fender, and a tire rim. It cost the person-at-fault's insurance company over $3 grand, not including my rental car. My car's barely worth over $5K...

Also, maybe because there's so many prii out here that insurance companies don't want to deal with the possible high cost of repair for every single prius that gets in an accident. The car is so specialized and not just any auto body shop can do the work. I swear, the west coast area, from vancouver to san diego, probably has more prii than the rest of the nation! On my block alone, there are 5 prius owners!

But unless I see pictures of the damage before repair, I'll get a better idea of whether I should pursue this or not.

 

I guess it is all contingent on how good this guy's records are from when he bought the car. Also, I'm confused about your last questions. The car was rebuilt BEFORE the seller bought the car, so I dont know what repair bill you're referring to.