How close are we getting to be able to charge more than high book for our used Prius?

Discussion in 'Gen 2 Prius Main Forum' started by Alphawolf, Feb 25, 2011.

  1. Alphawolf

    Alphawolf Member

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    With gas prices going through the stratosphere, how much longer before people will pay over high book for one?
     
  2. bisco

    bisco cookie crumbler

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    not close, but it could change quickly if gas prices skyrocket. but then, your going to get stung on a new one. it's all relatives unless you're entering or leaving the arena. just like real estate.
     
  3. Alphawolf

    Alphawolf Member

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    I already bought my new one...Yesterday!
    It is a 2010 package 3 with moon roof and nav. I couldn't pass up the 0.9% financing.
    So, I am trying to decide to put my 2006 up for sale now, or just hold tight for a month or 2.
     
  4. brownsnoutuk

    brownsnoutuk Active Member

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    i would give it a month or two.
     
  5. LoveMyPriusIII

    LoveMyPriusIII New Member

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    Congrats!
     
  6. Paul58

    Paul58 Mileage Miser

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    Awe, let the gouging begin... Nothing personal, I just remember visiting a Toyota dealer in 2008 when gas was over $4.00 a gallon, you'd have thought the Prius was made of gold!
     
  7. 420benz

    420benz New Member

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    In two months,what would be a good asking price?
     
  8. Flying White Dutchman

    Flying White Dutchman Senior Member

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    dont wanna see the price when its middle summer when the price is always high.....
    and now where already past that of 2008 before the spingtime.....
    not good
    or the price is going to up up up by summer or something bad happens ( thing credit crissis, war and financial downfall after ) and the prices go down again.
     
  9. Felt

    Felt Senior Member

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    I suspect the resale value will increase, but there are forces that will limit the increase.

    The government seems to be doing all it can to discredit Toyota with these damn recalls. I have no patients with floor mat issues. How about a childs toy falling under the accelerator? or a soft drink plastic cup? There seems there is no personal responsibility.

    I am certain that the recalls are hurting Toyota badly. And although not Prius in this latest recall, the media just harps on Toyota.

    Last evening I had dinner with a good friend. When I drove him home, there was a Chevy hybrid parked in his drive. I inquired .... it was his Son's. He said it had been nothing but problems ... in the shop every week; fortunately, all covered by warranty.
     
  10. bisco

    bisco cookie crumbler

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    excellent strategy!:rockon:
     
  11. The Electric Me

    The Electric Me Go Speed Go!

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    If you can afford to wait? I see no disadvantage to waiting. Of course, you could also simultaneously simply price it as you wish, and try to sell it in the meantime.

    It depends on what is going to cost you more in worry. Worrying about still having to sell it....or worrying about optimizing value. It's up to you.

    I'd price it fairly...at a value that I was happy with and sell it...knowing all along that if it didn't sell at that price...the approaching summer would probably aide me in that endeavour.
     
  12. Alphawolf

    Alphawolf Member

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    O.K., I've decided to list it for sale now. For one thing, I have 2 brand new Prius in my driveway! Seriously! My daughter that is living with us until Aug. bought one the same day as I did. We made that salesman's day....
    I got a blizzard pearl 3 with nav. and moon roof. She got a sandy beach 4 with the nav. and moon roof. Besides those 2 cars, I have the '06 Prius, an '03 Corolla, an '04 Corolla (her husbands), and an '01 Echo. My driveway looks like a freaking Toyota car lot! She is also selling the Echo.
    I have decided to put my '06 Prius up for $12,400 and see what happens for a while. Not in a hurry really.
     
  13. 420benz

    420benz New Member

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    What is the milage on your 2006?
     
  14. Alphawolf

    Alphawolf Member

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    It has tinted windows, an aux. engine heater, the remainder of the Toyota Platinum warranty (100,000 mile/7 year) and very clean. Does that sound like a reasonable price? Here is a link to the ad I placed last night on the web:
    Car Classifieds for Utah, Idaho, and Wyoming - ksl.com
     
  15. spitinuri

    spitinuri Member

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    Well gas will most likely average $4.20-$4.50/gal by Summer. I think you will see great demand for a vehicle that can attain 50-60mpg. I was going to trade my 04 in on a new 2010, but because of the mileage all they wanted to give me was 3K. Please. I will sell it for 10K or more this Summer.
     
  16. swi66

    swi66 Member

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    I paid full book for mine in 2008.
    I could not get a thing tossed in, and I was on a waiting list.
    I may have been "gouged" a bit as hardly anyone pays full book on any car.
    Another dealer at that time, wanted $2000 over what I was paying for a used 2006.
    Claimed the demand warranted it, and said it would sell in a day or so.
    It was gone the next day.

    We may be coming to that day again, sooner than you expect.

    But any gain you get on the value of your Prius, will go down the tubes paying the increased costs for everything else.
     
  17. Alphawolf

    Alphawolf Member

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    I see your point, but disagree to a point:
    The cost of "everything" else will go up even if I don't make any gains on my prius, so it is then in fact a "gain" by any definition.

    I don't see pricing over book value as "gouging" in any way at all. It is simple supply and demand. I have a Ford 4X4 pickup too. I would never expect to sell it at anywhere near book because of low demand. If the pendulum swings that way, then the opposite way is fair too. If diamonds were plentiful, they would be as cheap as ordinary stones.
     
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  18. ystasino

    ystasino Active Member

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    I remember thinking of selling mine in '08 when everyone was freaking out. However, times have changed.

    There's the obvious ceiling of the GenIII Prius.

    There are other smaller cars with decent gas mileage at around $16k or less new. Even if gas prices go to $5 gallon, a used GenII Prius at 50 mpg vs a new Hyundai Elantra at 35 mpg would only save about $512 a year over 12,000 miles. At the current $3.40 it would save a buyer $350.

    I would be surprised if many people preferred an '07 Prius w $14 k value at significantly higher prices.
     
  19. booger

    booger New Member

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    kind of a catch 22 isn't it? Sell high, buy high.

    If I knew prices would go back to the $2 range for a solid period of time I'd trade my prius in for a truck. Last time gas prices skyrocketed trucks dropped in price a ton you'd be getting the best of both worlds. Until gas prices went nuts again.
     
  20. Felt

    Felt Senior Member

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    Have we become a society where the personal interst outweigh national good? Led by politiciams, the Republicans wanted unemployment to continue up to regain the House; now the Democrats want the economy to tank to win in 2012; without doubt, the Democrats wanted the war to fail to oust Bush; global warming folks hate the cold Winter the earth has been experiencing (now we call it climate change) ..................

    and, now we want gasoline cost to increase so we can charge more than MSRP (or book value) for our fuel efficient vehicle?
     
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