prius blue book values finally falling?

galaxee · 02-19-2007, 03:29 PM

so i checked out the blue book value of our car today, and i was a bit surprised at first to see that it had fallen quite a bit since a few months ago when i checked it. it was $200 shy of the purchase price new (blue book said ~$24300) a few months ago... now it's down to $21995. mileage is not really that much of a factor- i think there's maybe a 4k miles difference between my two kbb estimates.

it's a function of the market, i would venture to guess. realistically i suppose this should come as no surprise since demand is no longer an issue.

just thought i'd put that out there for discussion.

cireecnop1 · 02-20-2007, 09:12 AM

<div class='quotetop'>QUOTE(galaxee @ Feb 19 2007, 01:29 PM) [snapback]392916[/snapback]</div>

Quote:

so i checked out the blue book value of our car today, and i was a bit surprised at first to see that it had fallen quite a bit since a few months ago when i checked it. it was $200 shy of the purchase price new (blue book said ~$24300) a few months ago... now it's down to $21995. mileage is not really that much of a factor- i think there's maybe a 4k miles difference between my two kbb estimates.

it's a function of the market, i would venture to guess. realistically i suppose this should come as no surprise since demand is no longer an issue.

just thought i'd put that out there for discussion.
[/b]

Thats okay, I'm sure the price will go back up once gasoline jumps a few cents and everyone else panics and runs to the lots for a Hybrid.

rik · 02-20-2007, 10:03 AM

Interesting. Can you tell us where you are looking up the value?

I can't find the Prius 2007 on kbb.com.

Jonnycat26 · 02-20-2007, 10:14 AM

<div class='quotetop'>QUOTE(galaxee @ Feb 19 2007, 04:29 PM) [snapback]392916[/snapback]</div>

Quote:

just thought i'd put that out there for discussion.
[/b]

Trade in value on mine has dipped to 13,890, but that's for good condition.

Which brings up a good point... How will dealers assess the condition of the car? We all know the center console cloth is kind of a dirt magnet and doesn't hold up well, and the dashboard is prone to scratches. Will I get dinged for those? It seems likely.

DelerPrius · 02-20-2007, 10:16 AM

Only '07 Toyota that comes up on kbb.com for used car value is the Camry.

Just checked price for an '06 Prius in excellent condition with 18K miles and base level of equipment:$25,170(retail)

KBB takes zip code into account so there could be some variation in other parts of the country--but not that much.

galaxee · 02-20-2007, 10:20 AM

i'm still using "excellent" condition on ours for the estimate, because it is still in very very good shape.

personally, i wouldn't trade in to a dealer anyway because you know they're going to lowball you as much as possible. private sales always bring in more money.

sprague, i'm looking up values on my 05 on kbb.com to make sure our loan balance is still ahead of the estimated value of the car.

Jonnycat26 · 02-20-2007, 10:27 AM

<div class='quotetop'>QUOTE(galaxee @ Feb 20 2007, 11:20 AM) [snapback]393265[/snapback]</div>

Quote:

i'm still using "excellent" condition on ours for the estimate, because it is still in very very good shape.

[/b]

I've got too much guilt to rate mine as excellent. There are a few paint chips, the cloth is dirty, and the dash has scratches... so to me, it's no longer excellent.

And I know I could make more in a private sale, but I prefer the convenience of a trade... just personal preference I guess.

Paul R. Haller · 02-20-2007, 01:40 PM

My wife and I walked into Walnut Creek Toyota yesterday asking how much our 05 Prius is worth. My 06 was in for an oil change and my wife has considered getting an 06 or an 07 so she too can have a back up camera. After 40 minutes they said the car was worth 18,000 and only if used to buy a new Prius. I demanded to see the KBB but they did not want me to see it and just said that I have to take their word that market values dictate trade in prices not KBB. I once again stood fast and said that I wasn't born yesterday and that KBB is just that tool. I further stated that if they didn't show me the KBB the deal is off. They came back with KBB as saying the trade in value is 22,000. We walked out saying to the salesman that they are not honest and that I will go elsewhere to buy a car.
In all fairness however they were willing to take off 2500$ on the Prius sticker to make the deal but in offering only 18,000 they blew the whole sale. I do not like Walnut Creek Toyota.
-Paul R. Haller-

galaxee · 02-20-2007, 01:49 PM

<div class='quotetop'>QUOTE(Jonnycat26 @ Feb 20 2007, 10:27 AM) [snapback]393276[/snapback]</div>

Quote:

I've got too much guilt to rate mine as excellent. There are a few paint chips, the cloth is dirty, and the dash has scratches... so to me, it's no longer excellent.

[/b]

we put on seat covers and all weather mats shortly after getting it, and i only see one small mark on the dash. there are some stone chips on the hood but i use touch up paint on them.

yours has been around longer and admittedly, i'm gentle on cars.

scoot · 02-20-2007, 02:14 PM

Personally, I find that the Kelley Blue Book has basically become an obsolete piece of history. Sure, you can find out some ballpark ideas for pricing (kbb.com) but really the way to price a car is to look at what's for sale both privately and from dealers. There are LOTS of cars that are priced too high and LOTS of cars that sit there and don't sell.

If you want to sell your car, go look at other cars that are for sale and price yours such that you are priced in the bottom third accounting for adjustments for condition, mileage, etc.

I would doubt that KBB takes into account the changes in tax credits or lack of HOV stickers (should they list those as a value option on the form--probably so).

02-19-2007, 03:29 PM	#1
galaxee uphill battling Join Date: Mar 2005 Location: central NC/ western WI Posts: 8,823 My Car: 2005 Prius Package: #5 Nominated 5 Times in 3 Posts TOTM Awards: 0 Friends: 20	so i checked out the blue book value of our car today, and i was a bit surprised at first to see that it had fallen quite a bit since a few months ago when i checked it. it was $200 shy of the purchase price new (blue book said ~$24300) a few months ago... now it's down to $21995. mileage is not really that much of a factor- i think there's maybe a 4k miles difference between my two kbb estimates. it's a function of the market, i would venture to guess. realistically i suppose this should come as no surprise since demand is no longer an issue. just thought i'd put that out there for discussion. __________________ black 2005 prius, tweaked just the way i like it as DH was once told, someone with his capability should be in college, not doing mindless maintenance awaiting the occasional brain teaser. after conquering the entire ASE automotive series, he's busy retooling the diagnostic mindset for other life protecting applications. the prius tech is officially scarce, and his other half is sad without him.

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02-20-2007, 10:03 AM	#3
rik Junior Member Join Date: Dec 2006 Posts: 29 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Interesting. Can you tell us where you are looking up the value? I can't find the Prius 2007 on kbb.com.

02-20-2007, 10:16 AM	#5
DelerPrius Join Date: Jan 2007 Posts: 60 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Only '07 Toyota that comes up on kbb.com for used car value is the Camry. Just checked price for an '06 Prius in excellent condition with 18K miles and base level of equipment:$25,170(retail) KBB takes zip code into account so there could be some variation in other parts of the country--but not that much.

02-20-2007, 10:20 AM	#6
galaxee uphill battling Join Date: Mar 2005 Location: central NC/ western WI Posts: 8,823 My Car: 2005 Prius Package: #5 Nominated 5 Times in 3 Posts TOTM Awards: 0 Friends: 20	i'm still using "excellent" condition on ours for the estimate, because it is still in very very good shape. personally, i wouldn't trade in to a dealer anyway because you know they're going to lowball you as much as possible. private sales always bring in more money. sprague, i'm looking up values on my 05 on kbb.com to make sure our loan balance is still ahead of the estimated value of the car.

02-20-2007, 01:40 PM	#8
Paul R. Haller Senior Member Join Date: Jun 2005 Posts: 202 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	My wife and I walked into Walnut Creek Toyota yesterday asking how much our 05 Prius is worth. My 06 was in for an oil change and my wife has considered getting an 06 or an 07 so she too can have a back up camera. After 40 minutes they said the car was worth 18,000 and only if used to buy a new Prius. I demanded to see the KBB but they did not want me to see it and just said that I have to take their word that market values dictate trade in prices not KBB. I once again stood fast and said that I wasn't born yesterday and that KBB is just that tool. I further stated that if they didn't show me the KBB the deal is off. They came back with KBB as saying the trade in value is 22,000. We walked out saying to the salesman that they are not honest and that I will go elsewhere to buy a car. In all fairness however they were willing to take off 2500$ on the Prius sticker to make the deal but in offering only 18,000 they blew the whole sale. I do not like Walnut Creek Toyota. -Paul R. Haller-

02-20-2007, 02:14 PM	#10
scoot Senior Member Join Date: Jan 2006 Posts: 109 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Personally, I find that the Kelley Blue Book has basically become an obsolete piece of history. Sure, you can find out some ballpark ideas for pricing (kbb.com) but really the way to price a car is to look at what's for sale both privately and from dealers. There are LOTS of cars that are priced too high and LOTS of cars that sit there and don't sell. If you want to sell your car, go look at other cars that are for sale and price yours such that you are priced in the bottom third accounting for adjustments for condition, mileage, etc. I would doubt that KBB takes into account the changes in tax credits or lack of HOV stickers (should they list those as a value option on the form--probably so).