Say BYE BYE to our resale!

[richard schumacher]

Originally posted by 200Volts@Dec 19 2005, 01:30 PM
Am I the only one that got a $2,000 tax credit for buying my 04 ? 

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The 2004 was allowed a *deduction* (subtract $2000 from your adjusted income), not a credit (subtract $2000 from your tax due). If you claimed a credit you should file an amended return, soon, before you get a fat letter from the IRS with red print on the envelope.

[Schmika]

Originally posted by remaxmanager@Dec 19 2005, 01:53 PM
Well, I have noticed that the local Toyota lots are over-flowing with Prius'.  <snip>

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Wow!! I'd like to see that, you still can't SEE a prius on the lot around here.

[Jack 06]

Originally posted by efusco@Dec 19 2005, 11:16 AM

The car has and will hold it's value, but the market will be tough for a while while the tax credit is at it's height.

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Dr. Fusco is right. Although none of us can forecast what will happen to Prius values way down the road---say, 9-18 months---because sooner or later, Toyota supply WILL gradually catch up with consumer demand (but that's a complicated picture, influenced by gas prices among other things)---what you're going to see is a temporary BUBBLE. A "negative" bubble, if you will. And even then, it will not apply equally in all parts of the U.S., depending mainly on availability at local dealerships.

There's already plenty of evidence on PC threads that some people have been willing to forego tax incentives simply to get their hands on a Prius. Some people are ineligible for the 2006 credit because of higher income. And some people still don't even KNOW about the tax credit.

Don't panic. What's happening right now was predictable. The likelihood that your Prius will even regain its INFLATED resale value in a little over half a year is great.

[Spunky]

Remax - do yourself a favor and never "invest" in stocks. If your approach to retirement investments matches that of your car "investments" then you will lose everthing...and ask if you can raid MY pension fund!

[Mrfilovirus]

Cars are very rarely (if ever) a smart investment idea. Just drive it until the wheels fall off and smile - it's a good car.

[QED]

I recall some investment advise from my younger days, "buy cheap cars and expensive houses". Worked for me.

Well, the Prius isn't exactly cheap, but I'm going to get one January anyway :P

[jbarnhart]

Want a good investment in a car? Buy a 2006 Prius, take the $3000 tax credit, get HOV stickers. Then wait until you can't get the credit anymore and no more stickers are available to resell the car. Even with this, tho, you probably won't GAIN from the resale, only lose as little as possible.

[daronspicher]

Remax... Hurry, pump every dollar you can borrow into Tech stocks before the bubble bursts...

You're just as far behind the curve on that as you are with trying to drive a prius for a year and then get more back for it used than you paid new. Stupid idea to try it, and it didn't work.

Toyota is supposed to put 150,000 cars into the market in the usa this year. I think that alone will help with the supply problem. There are still 100,000 existing prius from the prior years... that will help with the supply problem... All that's left is for us to watch you depreciate off about $4000 this year. Have fun..

[hyo silver]

Originally posted by TonyPSchaefer@Dec 19 2005, 01:36 PM
There was a Ford truck commercial many many years ago that I'll never forget.

A youngish sales guy is talking to a 50-something farmer-looking guy about all the features of the new trucks: towing, hauling, hp, all that.  Finally, the sales rep says something to the affect that their trucks have retained the highest resale value in their class.

The farmer just stares at him.  "Resale value?!  Son, I'm gonna drive this thing into the ground."

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I'm with the farmer on this one: resale value only matters if you're gonna sell it.

[flynz4]

Originally posted by daronspicher@Dec 19 2005, 04:24 PM
Remax...  Hurry, pump every dollar you can borrow into Tech stocks before the bubble bursts...

You're just as far behind the curve on that as you are with trying to drive a prius for a year and then get more back for it used than you paid new.  Stupid idea to try it, and it didn't work.

Toyota is supposed to put 150,000 cars into the market in the usa this year.  I think that alone will help with the supply problem.  There are still 100,000 existing prius from the prior years... that will help with the supply problem...  All that's left is for us to watch you depreciate off about $4000 this year.  Have fun..

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I am actually more concerned about long term resale with my 2 prii, vs standard cars. I am planning to drive them for about 100K miles each... and assume the value is near zero... or close to it.

Normal cars do not have expensive batteries to replace... and I think that perspective buyers of 100K mile used cars will be leary of a potential repair bill that they cannot afford.

I do not like driving old cars... so I probably will not own the car beyond 100K miles. I have a 7yr/100K extended warantee, along with the 8yr/100K hybrid component warrantee.

If I assume zero residual value... then I will not be dissapointed at the end.

/Jim