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Do KBB values ever increase?

Discussion in 'Newbie Forum' started by prius121212, Nov 21, 2014.

  1. prius121212

    prius121212 New Member

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    I am thinking of getting a used Prius hatchback, probably a 2013. It's winter which is prime buying time as dealers are slow. But I dont need a new car now. I need one come the spring, which is typically the worst time to buy.

    However, I found that the KBB retail price for a 2013 Prius with the mileage I am looking for is just in my range. But does the KBB value ever increase, or does it decrease continuously as time goes on as one would expect? In other words, if a 2013 with say 40k miles is worth $19k retail on KBB today, would it stand to reason that in the spring the retail price will be under $19k, or is there a possibility the retail price could increase?
     
  2. bisco

    bisco cookie crumbler

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    if the market has a demand surge due to high gas prices/prius shortage and etc., they will increase. like most anything, it's all about supply and demand. and also, kbb is not always that accurate. especially with dealers, they tend to poo-poo kbb as overvalued when you're trading in.
     
    #2 bisco, Nov 21, 2014
    Last edited: Nov 21, 2014
  3. Munpot42

    Munpot42 Senior Member

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    Don't know whew the op is located, but here in Los Angeles, dealers are advertising new 2015 Prius 2 Hatchbacks for 19,999, lowest prices I'ver ever seen for this model, but out here gas prices are at 4 year lows so....
     
  4. bisco

    bisco cookie crumbler

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    he's in xcvcxv, can't you read?
     
    Mendel Leisk likes this.
  5. wjtracy

    wjtracy Senior Member

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    Normally declining value according to the approx. equation Value = Orig Cost x (1- Deprec) exp ( years old)
    whereas Depreciation ~= 15% (0.15 in the equation) for a car that holds value well, up 25% Deprec for a lemon.

    From about 2008 to 2010, during the Great Recession, used cars were in great demand and the prices went up, so the equation did not work. In Virginia during that time we got car tax bills saying our normally declining car taxes have gone up because the blue book values have gone up unexpectedly on some vehicles (eg; Prius). But that was an aberration.
     
  6. ETC(SS)

    ETC(SS) The OTHER One Percenter.....

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    Do KBB values ever increase?

    All the time!
    I can't remember exactly what the gas prices were in 2010 but they were in a slump when Big Bell introduced me to the world of Priusdom (to the benefit of both! :) )
    In the fall of 2010, Priuses were going for 19,000 out the door.....meaning REALLY out the door.

    There was a large spike in gas prices in 2011 (IIRC!) that made good deals on Priuses rather like Obama bumper stickers.
    You remember seeing a lot of them, but then they suddenly became MUCH harder to find.
    Here's the thing.
    Prius prices fluctuate.
    So do gas prices.
    I paid $2.35 a gallon to fill up my truck yesterday, but since it was a TRUCK, I still paid over $40 and I will not be able to get 500 miles out of that tank. I filled my work car yesterday as well, and I couldn't squeeze $25 into the tank.

    Since your location is xcvcxv, Priuses are either cheaper or more expensive there due to factors like government greed, taxes, or corporate greed. Some places (like the SE USA) have a host of "non-optional" options that can really jack up the local sticker price (Do NOT confuse this with MSRP!!!)
    That will influence the local KBB price.
    We won't get into the dealer scams about CPO (certified pre-owned) versus non-CPO, washed titles, zippered cars, hidden (non-reported) accidents, lackadaisical user maintenance practices, people using Priuses for physics and chemistry experiments (towing RV's and burning E85), etc......

    You're MUCH more likely to get scammed if you try to buy a Prius at a "good price" rather than pay a little more up front for a car with a good pedigree.

    Me?
    I keep cars for 10 years on average, so I buy new, base models and avoid the drama. :D

    Reader's Digest Version: Gas is going to be cheap but not going to STAY cheap. I'd worry more about getting a good used car and less about over paying by a few hundred bucks. Even at $2/gallon, Priuses are cheaper to own than many other cars if you keep them long enough to recoup the higher buy-in for the hybrid components.

    Good Luck!
     
    #6 ETC(SS), Nov 21, 2014
    Last edited: Nov 21, 2014
  7. JimN

    JimN Let the games begin!

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    It's all about supply and demand. Shut down the factory or the Gulf Coast refineries and the used car (if you can find one) can be sold for close to MSRP. Today, there is ample supply from the factory and gas is low so selling prices are soft. Maybe you can find your car cheaper next quarter. Maybe not.

    Oil is already rising. Did we see bottom? I don't know. The best time to buy the car is when you find what you want at a fair price.

    Is that San Jose 95115?