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Say BYE BYE to our resale!

Discussion in 'Gen 2 Prius Main Forum' started by seasidetraveler, Dec 19, 2005.

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  1. galaxee

    galaxee mostly benevolent

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    to reiterate- the truck you got was USED. someone had already taken the depreciation hit on it.

    you can't buy a NEW car, drive it for a year, and sell it for MORE than you paid. the prius is the only car you can get that *might* pull it off.

    this is the basic law of buying cars.
     
    #61 galaxee, Dec 20, 2005
  2. seasidetraveler

    seasidetraveler Member

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    You are right- the Prius is in uncharted territory, and there is no way of knowing what any car's resale value is going to be. I also don't know where everybody is coming up with the statement that I want to sell the Prius right away- I made the statement that I usually keep it a year and a half to 2 years, and that I am at a year- so wouldn't one assume that I am not ready to sell it just yet? I posted my comments because of the info given to me by the local Toyota dealer that has about 15-20 Prii sitting on their lot. When he told me that they haven't been selling since people know about the big credit- it got me worried because I wondered what that would do to OUR current Prii. I didn't come here ranting and raving about how much the Prius is terrible, or b**ching and moaning- just expressing my concern after the discussion with a General Manager of the Toyota lot.

    maggie- again, the 2 topics are unrelated- a used truck and my Prius- I had mentioned I like to get a new car every couple years, without specifing that they aren't necessarily NEW cars, I tend to buy used cars for a great deal, and sell them to make a profit- it's fun for me- The Prius is the first car that I have ever bought for MSRP- so I had hoped that resale would stay strong- to help retain some sort of value. And I, like many Prius people, buy the Prius to SAVE money- most don't buy it simply because it's cleaner then traditional vehicles- so I think that people are under the impression that you see the estimated mpg- and they think they are gonna save so much money- like me- and I have.. even with the added expenses that I have incurred with the Prius- I drive so much that I really am saving a lot of money! Where as I would spend in excess of $450-$500/month just for gas, I now spend about $100-$150- that to me is a great value- and worth driving the Prius- don't get me wrong -it is nice to know that I am also saving the air at the same time.
     
    #62 seasidetraveler, Dec 20, 2005
  3. zapranoth

    zapranoth New Member

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    Fundamentally, if you call it a car "addiction," you're talking about impulsive purchasing.

    So it isn't going to work out logically, or in a way that is financially advantageous.

    And who buys a car as an investment? (Unless it's something rare.) An investment is not by most true investors regarded as something that depreciates and has *no* realistic hope of being worth even as much as it was purchased for.....
    :blink:
     
    #63 zapranoth, Dec 20, 2005
  4. maggieddd

    maggieddd Senior Member

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    The ones who buy a Prius to save money are te ones who can't do simple math.

    so you were making money buying and selling used Ford trucks and it was working out for you, and what happend that you decided to change that strategy? Did you get more greedy all of the sudden and thought you could make more on the Prius? Or does the Prius offer more than a truck?
     
    #64 maggieddd, Dec 20, 2005
  5. tripp

    tripp Which it's a 'ybrid, ain't it?

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    I disagree. A car IS an investment. No, unless it's a Bentley or some kinda class, it won't increase in value but it's still an investment. For example, I invested in a Prius because it offers high reliability. Time IS money (actually, it's worth a LOT more than money) and the more time one spends dealing with a POS that won't run that's time lost. Not to mention the frustrations and repair costs. It's also an investment in your lifestyle. I drive a Prius because I'm energy and environmentally concerned. To me an SUV is a bad investment. To others a vehicle that can't tow 13K lbs is a bad investment. To remax get stranded on the side of the road with a broken vehicle is a bad investment. It's all relative.
     
    #65 tripp, Dec 20, 2005
  6. Jack 06

    Jack 06 New Member

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    Au contraire, mon ami! Look at the listings for '05s (and even some '04s) at autotrader.com. It happens every day now.

    But won't last forever. :(
     
    #66 Jack 06, Dec 20, 2005
  7. seasidetraveler

    seasidetraveler Member

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    Oye... what don't you understand? I didn't buy the Prius to resell for more money!! I was simply hoping that it would hold it's value better than other cars in it's class- I have bought and sold many brands for more than I paid- not just Ford's- quit anylizing every word I type so closely! GEEZ this got so blown out of proportion!

    And yes- it's simple math- I spent $400- $500 a month in gas, now I spend $100-$150- and have the same car payment- UMM- To me that sounds like I am SAVING money, doesn't it?
     
    #67 seasidetraveler, Dec 20, 2005
  8. seasidetraveler

    seasidetraveler Member

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    Thank you! I drive a lot- both for work, and for pleasure- and I do not want to worry about my car breaking down, or constant time off from work taking my car into the shop. A lot of places I go- especially for work up here in the mountains, are not in cell range, and are not heavily traveled areas, so why risk breaking down all the time? My lemon Chevy that I owned, was such a hassle, always having to leave work early, or take off all together to get it to the dealer and get it fixed, and it would leave me stranded all the time- that's not something I want to deal with.
     
    #68 seasidetraveler, Dec 20, 2005
  9. tripp

    tripp Which it's a 'ybrid, ain't it?

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    No problemo. :D There's a lot more to it than the predictable, quantifiable monetary outlays. I work with REALTORs so I know how it is.
     
    #69 tripp, Dec 20, 2005
  10. maggieddd

    maggieddd Senior Member

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    if you bought Corolla you would save on gas and your car payment would be less. BIGGER savings.
     
    #70 maggieddd, Dec 20, 2005
  11. seasidetraveler

    seasidetraveler Member

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    Tripp- what is "Tipperary"? Is it a place? Nice pic- it always makes me smile because you look so happy! haha
     
    #71 seasidetraveler, Dec 20, 2005
  12. maggieddd

    maggieddd Senior Member

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    could you be more specific? What other cars in it's class are you talking about?
     
    #72 maggieddd, Dec 20, 2005
  13. seasidetraveler

    seasidetraveler Member

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    Not true. You telling me that a Corolla gets an average of 48 mpg? Or 50?
     
    #73 seasidetraveler, Dec 20, 2005
  14. seasidetraveler

    seasidetraveler Member

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    Again- I guess I shouldn't have used the term "in it's class"- I was reffering to cars in it's size category- obviously the Prius is in a class of it's own....
     
    #74 seasidetraveler, Dec 20, 2005
  15. tripp

    tripp Which it's a 'ybrid, ain't it?

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    Tipperary is a place in Ireland. During WWI there were several songs that mentioned it that were popular with the British troops fighting on the main land. "It's a long way to Tipperary" is the most famous one. The song was popular with both sides and again in WW2. I'm a shameless Anglophile so how could I resist? :lol:

    The pic is off me on a canyoneering trip down in So. Central Utah (not So Central LA!). Great time. I love the halo effect on my helmet, that's always cracked me up.
     
    #75 tripp, Dec 20, 2005
  16. maggieddd

    maggieddd Senior Member

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    no, but combined with the car payment it is bigger saving
     
    #76 maggieddd, Dec 20, 2005
  17. seasidetraveler

    seasidetraveler Member

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    Trip,
    Thanks for explaining- Always wondered about that. You said you work with Realtors, what do you do?

    Maggie,

    It depends- I drive many many miles, so the mileage is a big difference for me- especially if we are talking 30-35 vs 45-50. What would a fully equipped Corolla go for? I have no idea... maybe $18-$19k? My Prius was approx $23k- so $4000 difference... The Prius has a few unique features not offered on a Corolla, so they aren't equal, but I think that still I am better off with my baby.
     
    #77 seasidetraveler, Dec 20, 2005
  18. tripp

    tripp Which it's a 'ybrid, ain't it?

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    Actually, it depends on the miles driven and the cost of gasoline. I have no idea if this works out. probably not, but it has to be considered. Throw in brakes, oil, possibly a clutch and there's that too. Probably doesn't pan out. Of course, on the flip side is insurance and payments, or if paid outright, the difference in cost.
     
    #78 tripp, Dec 20, 2005
  19. maggieddd

    maggieddd Senior Member

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    that's the whole point I was trying to make all this time. You can't just look at the resale value of the car. Your initial post was radiating with anger and you stated that you would not have purchased Toyota because of the Prius' resale value and that's why you got the responses that you did. It also sounded that you only wanted Prius for the resale value and now you clarified things and admitted that there are other reasons to hold on to it. So there you go, no matter what you would have purchased and even if you would resale it for more than a Prius you gained other benefits of owning this vehicle vs. another one. Perhaps these things at least even out the fact that the resale value might not be as great as you would have gotten with other cars. But honestly, if you wait you will get decent money for it and you will come out ahead anyway. Good luck.
     
    #79 maggieddd, Dec 20, 2005
  20. seasidetraveler

    seasidetraveler Member

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    Yes, I have to appologize to everyone, because I was not intending on sounding angry when I started this post- just kinda in shock... when re-reading my first post, I realize that the last part about poor resale could have been worded differently- I was not intending for it to have this outcome.
     
    #80 seasidetraveler, Dec 20, 2005
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