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2018 Prius values can't be looked up on KBB?

Discussion in 'Newbie Forum' started by PushingSquares, Sep 25, 2018.

  1. PushingSquares

    PushingSquares Junior Member

    Joined:
    Sep 23, 2018
    26
    31
    0
    Location:
    Seattle
    Vehicle:
    2018 Prius Prime
    Model:
    Prime Advanced
    I use an online service to track my finances, and in this system I track the value of my high-value assets, including my vehicles. I typically use KBB's numbers for this, which I can look up online at KBB's website. However, I'm not seeing any option to look up values for the 2018 Prius, in any of its variations - they're simply not on the list. 2017 Prius cars are available, though. Anyone know what's up with this?
     
    #1 PushingSquares, Sep 25, 2018
  2. PriusCamper

    PriusCamper Senior Member

    Joined:
    Mar 3, 2012
    10,932
    4,430
    0
    Location:
    Pacific Northwest, USA
    Vehicle:
    2007 Prius
    Model:
    Two
    An accountant or financial planner can you tell you how to calculate the depreciation value of a new car, or you can google that question... KBB is for used cars not new cars. And the depreciation of a new car, is a pretty big tax deduction if you set it up correctly.
     
    #2 PriusCamper, Sep 26, 2018
  3. Elektroingenieur

    Elektroingenieur Senior Member

    Joined:
    Jan 8, 2017
    2,515
    3,253
    9
    Location:
    California
    Vehicle:
    2016 Prius
    Model:
    Three Touring
    There probably haven’t been enough reported sales of 2018 Prius or Prius Prime cars as used cars to establish reliable values. If you need an estimate, just use the value of a 2017 car with similar equipment and mileage.

    As @PriusCamper kindly points out, if you’re using the car in a business, talk with your accountant or tax advisor, or see IRS Publication 946, How To Depreciate Property (PDF), but keep in mind that depreciation for accounting or tax purposes, generally computed using fixed formulas, is different than depreciation as the decrease in fair market value over time.
     
    #3 Elektroingenieur, Sep 27, 2018
    Skibob and PriusCamper like this.
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