Prius is a fast depreciating piece of technology!

Discussion in 'Dealers & Pricing' started by Fore, Nov 9, 2013.

  1. Fore

    Fore Don't look back!

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    What!!! I thought Prius’s would hold their value, guess not. I was thinking about trading in my 2010 Prius II for a 2006 Toyota Tacoma. I used to have a 2007 Toyota Tacoma that I traded in for this 2010 Prius because gas kept going up. I parallel swap for my current 2010 Prius II back in 2012 for around $18k not owing anything after the trade. Now an older 2006 Toyota Tacoma that was just like my 2007 Tacoma goes for $19k while my 2010 Prius is only worth around $13,500 Wth wish now I never traded for this fast depreciating piece of technology.
     
  2. JMD

    JMD 2012 Prius 4 Solar Roof

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    My car depreciated 8-9 K the first year. The first 2 years it's a big hit then it slows
     
  3. djasonw

    djasonw Active Member

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    Should have kept your original car. First two years are the worse when it comes to depreciation. It doesn't matter what vehicle it is. Obviously rare exotics don't fall into this category.


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  4. cycledrum

    cycledrum PSOCSOASP

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    Course they're going to try to buy it for a lot less than they'll turn around and sell it for.

    Have you priced out what you could get for it in private sale?

    Lots of 2010 Prius II CL ads, dealers asking 15, 16, 17 up to 19k for Prius II, 2010.
     
  5. john1701a

    john1701a Prius Guru

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    For a dose of reality, go look up Blue Book values on other vehicles... like Camry. You're in for a surprise. They all take a major value hit early on.
     
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  6. cycledrum

    cycledrum PSOCSOASP

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    I could probably pull $18k+ private sale out of my 2011 III which is just shy of 19k miles ....

    but I'm not and I'm actually getting along with it better these days .... what a relief cause the thought of selling a 2 year old car is a very bad thought.
     
  7. wjtracy

    wjtracy Senior Member

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    As far as I know, Prius is among the slowest cars to depreciate. Check your VA car tax valuation. Mine is still about $8600 for a 2006, and I have to use 15-16% depreciation in my equations to match that (which is very low). A few years ago Consumer reports article said Prius was the most slowly depreciating car. Many of the Toyotas depreciate very slowly which is bad news from a VA property tax perspective, espcially in NoVA.
     
  8. VicVinegar

    VicVinegar Member

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    Well first you are comparing a vehicle with a legendary ability to hold value in the Taco. Second, if you think the Prius is bad, look at anything else. Prius is one of the better cars for depreciation. Not much can touch a Tacoma though.
     
  9. wjtracy

    wjtracy Senior Member

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    Whew!! So glad to hear that.
    ...yesterday someone wrote in a thread that they thought you had already one foot the new Honda Accord PHEV.
     
  10. cycledrum

    cycledrum PSOCSOASP

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    One foot into one of those in my dreams .... no, gotta keep this Prius for the long haul.
     
  11. fuzzy1

    fuzzy1 Senior Member

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    Please don't tell me that you expected to trade roundtrip from vehicle A to B, then B back to almost-identical-to-A, through dealerships, and not take a big haircut. The dealers aim to make a significant profit from each of the 4 transactions, and it all comes out of your wallet.
     
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  12. 2k1Toaster

    2k1Toaster Brand New Prius Batteries

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    The second your new car leaves the lot, it drops in value by double digit percents. Seriously. Take your brand new car that you just bought, drive out the lot, make a u-turn, and try to trade it in. It is now a used car. The dealership will buy it back from you at wholesale value, and sell it to someone else for markup. So expect 20% to 30% of the value to evaporate the second you sign the contract on a brand new car.

    Trading cars every few years is fun, but you will never save money doing it.
     
  13. JMD

    JMD 2012 Prius 4 Solar Roof

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    ^^^^^^
    I agree
     
  14. Tony D

    Tony D Active Member

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    Every car looses a fortune in the first 2-3 years and if you buy a car that it 4/5 years old, you can get it for half price sometimes. I tend to buy cars that are over 4 years old so that the bulk of the depreciation has already occurred
     
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  15. Fore

    Fore Don't look back!

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    Well yes and no in the used market! I originally bought my used from a dealership a 2007 Tacoma for $15,500 I traded it in at another dealership for a used 2010 Prius II for $18,000 across the board no extra fees. So I don't understand your logic how a red neck truck went up in value which I traded it in for a profit to get what I thought would be a car that would hold it's value longer. I guess it all comes down to supply and demand plus timing. I'll hold on to my Prius when a new war breaks out and gas goes though the roof at $5 plus a gallon, then my Prius will be worth more and I can get my gas guzzling truck back at a cheaper price.
     
  16. -1-

    -1- Don

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    :)
    Buy low, sell high, we're no different. Every chance I get.
     
  17. ursle

    ursle Gas miser

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    Ah, I love it when a plan comes together, err, you don't by chance work for the post office?
     
  18. bisco

    bisco cookie crumbler

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    when gas prices go up, you won't want the truck anymore.;)
     
  19. cycledrum

    cycledrum PSOCSOASP

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  20. Fore

    Fore Don't look back!

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    Not according to the holy grail Kelly Blue Book you don't! Try punching in the numbers for: Black 2011 Toyota Prius II Hybrid - CERTIFIED PRE OWNED CPO Certified 2011 II w 32k mi asking $18k
     
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