Gen 1 PIP Resale Value Is Egregious

Discussion in 'Gen 1 Prius Plug-in 2012-2015' started by Prius Five Guy, Mar 29, 2017.

  1. Rebound

    Rebound Senior Member

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    Let's lubricate the brake pins just to keep it that way.
     
  2. mmmodem

    mmmodem Taste Tester

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    I'll be honest here. I have no idea what that it is. But, I'm willing to learn if you show me the way. (y)
     
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  3. Raytheeagle

    Raytheeagle Senior Member

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    Part of the brakes. Something to do at the next meet up;).
     
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  4. William Redoubt

    William Redoubt Senior Member

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    I bought my Gen 4 new for this exact reason. There is virtually no way to know the exact condition of a used car, especially a hybrid. I know the exact history of my vehicle since I do the maintenance and experience every mile of the car's life. Having a reliable car is as much a necessity as electricity, which strangely disappears rather than depreciate. Cars are not investments -- they are expenses with residual value.
     
    #24 William Redoubt, Apr 1, 2017
    Last edited: Apr 1, 2017
  5. trentofdestiny

    trentofdestiny Master Finagler

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    I bought my 2012 PiP base for $32k and traded my 2011 model III on it, negative equity to the tune of $6k. Could've almost had the Advanced for that much :( was paying about $750 for a couple of years through TFS then refinanced and now am paying $450. I did have to pay about $3000 out of pocket in order to refi because the car wasn't worth enough. I have about 3 years left on the refi loan and owe about $15k ($9k if you don't count the negative equity). Then again, I do have 94k on it. But I plan to keep it a long time.


    iPhone ?
     
  6. bisco

    bisco cookie crumbler

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    at least the fun has been worth the extra depreciation.(y)
     
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  7. trentofdestiny

    trentofdestiny Master Finagler

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    Yes, and at least the dealer gave me the $1500 for the mods I had installed on the '11 (Eibach springs, Morimoto HID kit, Husky liners front/rear/cargo, blue tinted JDM side mirror glass, TRD rear sway bar, Valenti SB tails)


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  8. wjtracy

    wjtracy Senior Member

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    Good time to buy. Car demand is down right now.
    2012 PiP held high value for a good while...maybe 2 years ago folks still selling here for $21k.
    Since then the market for used cars has fallen considerably.

    You may never see another plug-in with this PiP cargo space. For those who value very long EV driving range and are willing to sacrifice cargo space, go elsewhere (Prime).
     
  9. trentofdestiny

    trentofdestiny Master Finagler

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    Haha I guess I should consider myself lucky, but I don't have that much cargo space in mine considering I always carry a donut spare, big orange Home Depot toolbox, and dewalt cordless vacuum around


    iPhone ?
     
  10. Rebound

    Rebound Senior Member

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    Something in your brakes which needs lubrication.
     
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  11. Mendel Leisk

    Mendel Leisk Sunday driver DIY’r

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    The brake calipers need to be free to shift laterally, so they're bolted to pins, which are free-floating in a bracket. In this pic you can just see the head of a pins, and where the caliper connects to them:

    upload_2017-4-2_11-12-39.png

    And here's one of the pins removed, for cleaning and relube. I use Sil-Glyde Brake Lubricant. What you see there has been on there 3 years:

    upload_2017-4-2_11-15-12.png
     
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  12. MikeDee

    MikeDee Senior Member

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    Just keep the car for 10 years, then you don't have to worry about depreciation.
     
  13. bfd

    bfd Plug-In Perpetuator

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    Yes keeping the car does neutralize the depreciation. I did a 48month payment plan, so I've been free of that for a year. However, it doesn't make sense to go buy a new car at this point because the one I have has less than 70k. Once it starts looking shabby - and I've had a few more years to save some car payments - a new one might make sense. I doubt at that time it will be a Tyoter, however. There are now much better options out there. And in another 3 or 4 years, there'll be even more options.
     
  14. -1-

    -1- Don

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    :)I'm back driving my 2012 Prius Plug In Advance. Purchased new Jan 2013. Loved the car, but not the EV range. Leased a 2014 BMW i3 (Sept 2014) for 30 months and just returned it 2 weeks ago. Loved the i3, but again, even at about 80 miles EV, it wasn't worth keeping or getting another with 50% more range. My Prius was lightly used during that time, as I now have 19,000 miles, and 11 more payments on 60 month, zero percent financing. Still a great car, better this time around as I've lost "some" interest in EVs. Five hundred miles on a tank of gas, what was I thinking? Interested in the Bolt, but limited availability and current lease rates suck. I need to be content with what I have, but always looking for something better (in my mind). Even though I got a great deal on a 2012 closeout, I know I paid too much. Oh well, eleven months will pass quickly. No incentive to pay off early. I'm older and no need for a time consuming fancy or fast car.

    1614.jpg
     
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  15. fatdawg

    fatdawg Member

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    I don't normally lease, but in 2014 they were practically giving PiP away. Go with 0% interest finance or lease, I put down $2500 at $242 a month with tax at 12k miles per year. Then I get the California rebate deal, I think it was $1500. I basically paid $10k in 3 years. I originally wanted to purchase the PiP, kind of glad I went with the lease.

    Btw, the payoff at the end of the lease was under $17k.
     
  16. jerrymildred

    jerrymildred Senior Member

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    $242 X 36=$8712 plus $2500 = $11,212 minus $1500=$9712. Add $17,000 to get $26,712. Not bad if you can keep your miles that low. I don't think I can. At the rate I'm going, I'll have almost 20,000 after my first year, which started the end of Dec. I just got my first tire rotation warning yesterday. (It came with new tires and oil.)
     
  17. trentofdestiny

    trentofdestiny Master Finagler

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    I agree. However, if you are planning to buy your lease out, then you can go over the mileage. It doesn't actually make a difference until you turn it in.


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  18. Pasaman

    Pasaman Active Member

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    Resale value might be egregious but the dealers are still charging a premium on the base models in my area. It's hard to find one much under 20k. Maybe can find a 12 or 13 for 18k.
     
  19. fatdawg

    fatdawg Member

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    That was a part of the plan, I didn't care about miles because I was originally going to purchase at the end of the term. Luckily I didn't hit the miles and decided to go with a different vehicle. When I went to the dealer to return the car, they told me the trade in value was in the mid $15k.

    I still like the car, I will eventually be hunting for another great deal on a used PiP.
     
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  20. bisco

    bisco cookie crumbler

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    26k in cali was outstanding!
     
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