Need your help for pricing on a used 2010 Prius

[Jimmre]

Hi,

I'm attempting to join the Prius movement. We are going to look at a used (11,000 miles) 2010 Prius II tonight. I'm excited because with my height I can't fit into the 2nd generation Prius and thought we'd have to wait 6 or so months before having a used option. Well, a lady that bought the II earlier in the year wants to upgrade to a IV so she's trading in her II. I talked to the dealer and they said the initial MSRP was $22,915 and they are listing it on their website for $21,900. I've searched all the usually used car information sites and none of them have any prices listed for 2010 models of anything.

I figure if the useful life of the car is roughly 100,000 miles then about 10% of the car has been used up. That would put the price somewhere around $20,600 (10% lower than the $22,915 MSRP). However, I know the value of a new car drops substantially just driving it off the lot and it seems you could get a new Prius II for very near $20,600 so that would indicate maybe a bit lower used car price.

Thoughts? Opinions? I'm usually very good about research, but when there isn't much (or any) data available it makes it difficult. Thanks in advance for any and all help!!

Jim L.

[Jimmre]

Yikes, 36 views and noone has an opinion?!?!

I received another e-mail from the manager:

I will just tell you that I gave XXname hereXX $20400.00 in trade for this Prius, added for the Toyota certification fee and paid for her service ticket which is why she was in here in the first place. At 20,933.00, the profit is non existent which when taking care of a previous customer happens from time to time.

So, I would take that to mean the absolute least they would go is the $20,933 and the odds of that aren't that good. It just seems that for such a small difference it'd be better to go with a new one.

[ramdulari]

I purchased mine (V with ATP) new for a fantastic price two weeks ago. I think the dealer is overpricing for a used car with those many miles. I would suggest lookup cars.overstock.com for their pricing on new cars, as well as eBay motors (for new cars). With eBay, if you're lucky, you might find a dealer close to where you live, or within a distance acceptable to you.

Happy purchasing

Originally Posted by Jimmre

Hi,

I'm attempting to join the Prius movement. We are going to look at a used (11,000 miles) 2010 Prius II tonight. I'm excited because with my height I can't fit into the 2nd generation Prius and thought we'd have to wait 6 or so months before having a used option. Well, a lady that bought the II earlier in the year wants to upgrade to a IV so she's trading in her II. I talked to the dealer and they said the initial MSRP was $22,915 and they are listing it on their website for $21,900. I've searched all the usually used car information sites and none of them have any prices listed for 2010 models of anything.

I figure if the useful life of the car is roughly 100,000 miles then about 10% of the car has been used up. That would put the price somewhere around $20,600 (10% lower than the $22,915 MSRP). However, I know the value of a new car drops substantially just driving it off the lot and it seems you could get a new Prius II for very near $20,600 so that would indicate maybe a bit lower used car price.

Thoughts? Opinions? I'm usually very good about research, but when there isn't much (or any) data available it makes it difficult. Thanks in advance for any and all help!!

Jim L.

[rrolff]

Originally Posted by Jimmre

Yikes, 36 views and noone has an opinion?!?!

I received another e-mail from the manager:

I will just tell you that I gave XXname hereXX $20400.00 in trade for this Prius, added for the Toyota certification fee and paid for her service ticket which is why she was in here in the first place. At 20,933.00, the profit is non existent which when taking care of a previous customer happens from time to time.

So, I would take that to mean the absolute least they would go is the $20,933 and the odds of that aren't that good. It just seems that for such a small difference it'd be better to go with a new one.

The price is not great. FYI - if you have a Costco membership, and can find a participating dealer, there is a great buy...

MSRP for a Prius II (base) is $23,150
Invoice (Costco price) is 21,806

• Invoice*
• MSRP*

• Base
• $21,056
• $22,400

• Options
• $0
• $0

• Destination
• $750
• $750

• Total
• $21,806
• $23,150

[Midpack]

Originally Posted by Jimmre

Hi,

I'm attempting to join the Prius movement. We are going to look at a used (11,000 miles) 2010 Prius II tonight. I'm excited because with my height I can't fit into the 2nd generation Prius and thought we'd have to wait 6 or so months before having a used option. Well, a lady that bought the II earlier in the year wants to upgrade to a IV so she's trading in her II. I talked to the dealer and they said the initial MSRP was $22,915 and they are listing it on their website for $21,900. I've searched all the usually used car information sites and none of them have any prices listed for 2010 models of anything.

I figure if the useful life of the car is roughly 100,000 miles then about 10% of the car has been used up. That would put the price somewhere around $20,600 (10% lower than the $22,915 MSRP). However, I know the value of a new car drops substantially just driving it off the lot and it seems you could get a new Prius II for very near $20,600 so that would indicate maybe a bit lower used car price.

Thoughts? Opinions? I'm usually very good about research, but when there isn't much (or any) data available it makes it difficult. Thanks in advance for any and all help!!

Jim L.

The dealer's job is to get the highest price he can for every vehicle he sells, new or used. It's not a philanthropic organization, it's a business - these guys are trying to make a living and provide for their families just like you. Your job is to get the lowest price you can. If you both play your part correctly, the agreed on price will be somewhere in between.

I have nothing to do with the car business, but people love to denigrate car sales reps (and there are indeed some sleazeballs, like any profession, but certainly not all of them) when they're doing well - but we don't feel sorry for them when they have models they have to discount to invoice or below to move or this past year before C4C when their sales volumes had many of them hanging on for dear life. You can't have it both ways...

You're not going to find meaningful used $ prices on any 2010 model, Prius or otherwise not enough history.

What do you think the fair price for the used 2010 is? We could all probably help you more if we had an idea what you're expecting. If you think it's going to be 30% under MSRP because it has 8-11K miles on it, that's not going to happen.

I love negotiating with dealers, it's not hard but you have to understand both sides. With all due respect, you sound like someone who's hoping for a dealer that will drive the price down for you, that's your job! I'd recommend you use internet pricing (AutoByTel, edmunds, etc.), you're probably going to do better going that route. I have not bought a car in 10 years without getting the lowest price on the internet first, saves a lot of time over the conventional negotiating dance. Good luck.

[Tech_Guy]

The 2010 Prius (Version II) is in relatively high demand. And as previously stated in the other posts above, there is not much used pricing information available for this new version of the Prius which has been out for only about 6 months. Because you are dealing with a dealer who knows the market, you will probably get a reasonable price, but don't expect him (or her) to really drop the price much.

Good Luck,

Keith

[creativeguy]

11,000 miles on a car that can't be more than 6 months old (since it only went on sale in May or June), seems high. That is a lot of wear and tear during the break-in period and I am always skeptical of the real reasons for someone selling a new car so quickly. I'd go for a new one. If money is an issue, just wait and save up a few more months. The prices are only going to go down during the winter as fuel prices drop.

[octavia]

Originally Posted by creativeguy

11,000 miles on a car that can't be more than 6 months old (since it only went on sale in May or June), seems high. That is a lot of wear and tear during the break-in period and I am always skeptical of the real reasons for someone selling a new car so quickly. I'd go for a new one. If money is an issue, just wait and save up a few more months. The prices are only going to go down during the winter as fuel prices drop.

+1

[bedrock8x]

Why are you starting another thread for the same question?
You posted "Dealership game" yesterday and consensus is to buy a new Prius II.
Dealership games


The dealer is not going to drop the price you want unless you buy it directly from the lady who wanted to trade up to the IV.

[hampdenwireless]

Originally Posted by Jimmre

Hi,

I'm attempting to join the Prius movement. We are going to look at a used (11,000 miles) 2010 Prius II tonight. I'm excited because with my height I can't fit into the 2nd generation Prius and thought we'd have to wait 6 or so months before having a used option. Well, a lady that bought the II earlier in the year wants to upgrade to a IV so she's trading in her II. I talked to the dealer and they said the initial MSRP was $22,915 and they are listing it on their website for $21,900. I've searched all the usually used car information sites and none of them have any prices listed for 2010 models of anything.

I figure if the useful life of the car is roughly 100,000 miles then about 10% of the car has been used up. That would put the price somewhere around $20,600 (10% lower than the $22,915 MSRP). However, I know the value of a new car drops substantially just driving it off the lot and it seems you could get a new Prius II for very near $20,600 so that would indicate maybe a bit lower used car price.

Thoughts? Opinions? I'm usually very good about research, but when there isn't much (or any) data available it makes it difficult. Thanks in advance for any and all help!!

Jim L.

People are averaging about $400 off MSRP on brand new cars according to truecar.com

I would not buy that used car unless it was $1500 off due to the milage. They will probably find a buyer at $1000 off so it may be just best to move on and purchase new at $400 off.