Resale value on a 2014 Prius pkg 3 with high freeway miles?

i bought the car in February, 2014 and after 7 months i have 23,000 miles. I would venture to guess that i will have 30k-40k miles within one year. I like the idea of selling the car to my sister for around $16k with 30k miles and getting the Plug-In to replace my Prius 2014 pk3. CarMax offered me $16k for my prius with the current miles. They said i had double the average miles. I went to KBB and Nadaguides and it appears the car with the present miles is around $17.000-19,000 miles and is still worth $17k-$18k with 32,000 miles, if i sell private party. i would expect to get closer to $15-$17k Private party after i hit 30,000 miles.

Should i sell the car before i use up the factory warranty. I figured it would be a good selling point. I originally got the 2014 Prius to hold me over till the New 2015 Prius arrived and now that is delayed so i am thinking of getting the PIP with green sticker ( i live in LA) and selling the car cheap to my sister - she loves my Prius.

 

i think my sister wants to pay $10,000, she asked how much i owe? When i told her $17k she balked and said she would get back with me? i figured that i would start at $17k and at Thanksgiving when we meet to offer her the car between $15k - $16k... Then she might think she is getting a better deal. If i start at $16k the car will be sold to her for $14k

 

How much factory warranty is enough? 3,000 miles or 6,000 miles which might command just 500+ dollars. I agree that if i use up the factory warranty my resale value will drop $1,000 at that point i would be better off getting an extended warranty and selling the car with that?

 

Probably will sell the car closer to 32,000 miles so i am figuring it will be worth around $17,500 give or take. I paid $23k OTD, so i don't expect to get my money back. Depreciation the first year is the biggest hit. Plus you don't factor in the tax, on the total cost of the car, that's a foregone conclusion... So if my true cost was $21k for the car and i lost $4k for depreciation and excessive miles, then around $17k would be a fair price on both ends? Then there is the family discount when you are talking about siblings, so subtract another $1k.

I brought it to CarMax to give myself a rock bottom price, worst case scenario - have to leave the country tomorrow? lol. So i would assume that even with another 10,000 miles the car would still be worth $17k private party and it would sell within a week. $18k i figure would take a bit more hustle, possibly 3-4 weeks? And gas prices would need to be $5 a gallon to get $19k

The cars do hold their value and sell quickly, more so when gas prices go high.

 

The price to my sister is now $18k with around 29k miles on a 2014 prius. So MB Toyota used car manager offered me $19k for my Prius after he heard me discussing a PIP purchase with the sales manager. I declined his offer for $19k saying I had a better offer at $18k. I then asked why his offer was $500 more than Longo Toyota. He asked when the quote was done? i said about three weeks ago, so the prices jumps up, supply and demand. They have no more 2014 Priuses in stock. He said that they just sold a 2011 prius package 2 for $21k. He said my car would go for $22-23k on his lot used. That just seems crazy with such a high resale value, that i would get even money from my original purchase?

I am gifting the car to my sister - which means that i pay taxes on my schedule C on the resale value of the car (kbb?) she pays taxes on that figure - around $13k and my write off is the extra 10k loss?

 

i would rather have the additional $1,000 in factory rebates. the carpool stickers are only good in SoCal. Most of my driving is against the flow of traffic.

 

thanks... what you mentioned above seems accurate under pub 559 IRC. i was thinking that i would need to recapture the residual value, apparently not the case. So the Kelley Blue book value states my trade-in value as approximately $14k in average condition. So the entire value of the car would be a write off in 2014 FYE; originally I was doing a Schedule 179 on my current 2014 car. Yet after my sister's 2001 Camry with 220k miles finally died, i told her i would gift her my car - she is Very Happy. So I can now purchase a PIP 2015 and write that off (schedule 179) in 2014 too?