Prius resale value seems linked to gas prices

That's insanity but it's interesting that someone would cut a hole in the roof to install a sunroof along with the non-factory leather in a lowly package. (Sunroof was never available on the 2nd gen and I don't think it was ever available on the 1st either.)

 

Re: Prius resale value will go lower like outside West Coast soon

Since I don't think the 2010 will be out before my lease is up, I have started to looked at 2007/2008 or maybe a 2009 (option 5 or 6) but have not seen prices that low yet. Granted I have not talked to dealers but used 2008 option 5 are listed for about 21K. I can wait another month before buying something so we'll see I guess. I did not think getting invoice on a 2009 was possible but maybe it will be.

 

this proves a few things to me. first that most prius drivers couldn't care less about the environment or throwing money at oil rich middle eastern sheiks... second, people will believe anything in a bubble. a housing bubble gets going, and suddenly everyone forgets common sense and thinks housing prices will continue to skyrocket so they will pay more than they should for a house. when was a car ever a good "return on investment"? prius owners got lucky for a while because of the desepration of most people who love spending money on non essentials but when it comes to essentials like food and transportation they skimp out and go to mcdonalds for food and buy a beater that nickle and dimes them and pollutes the atmosphere. but everybody should know that cars are some of the worst "investments" ever

my prius has a great resale value, it is an 07 with 20k miles, every option except leather (really a prius owner wants leather? thats like a pita member eating meat) but the biggest plus is the fact that I have some of the last california carpool lane stickers

 

In Delaware, I am noticing several trends:

• Each week, the KBB prices seem to go down about $75.00 for my hypothetical `07 G2 with 30k miles in excellent condition.
• The number of used Prii listed on cars.com within 75 miles of me keeps increasing. There are now more than 180, with only a dozen or so from private sellers. Several used car operations appear to have a steady supply from leasing or rental.
• Most are listings by new car dealers who seem to be in denial. The asking prices for G2s up to two years old are substantially MSRP. Many dealers do not know the product: they do not tell you which option package, and they make that hard to figure that out from the information they give. But there are a growing number of realistically priced ones, and a growing number listed with no stated price.
  

I think the market will be bad, and fuel prices will be low for at least a year. Dealers will be hurting to meet their carrying costs, and their creditors will make them reduce their inventories. Perfectly good G2s will find their way into the auction pipeline. I look for a wave of fire sale selling in the months to come!

 

Re: Prius resale value will go lower like outside West Coast soon

Well, you would have to find someone willing to sell their 2008 Touring package 6 for 16K. And I've been watching craigslist, and the majority of owner aren't even close to that (as you stated in your last paragraph). I agree that most used priuses listed are overpriced...in the current market conditions. Lots of new priuses with incentives, why pay the same price for a used one? The BEST deal I've seen, as of late, was a 2007 package 5 with 21K miles for $16,500 (clear title). I emailed the woman selling it and she had more than a few people interested. Not surprising, as I think that was quite a good deal.

Now, when the economy improves and when gas prices start increasing again, I would expect that dealer inventory will start to shrink and trade-in prices and used car prices for Priuses will recover. The economy, large new inventory, and low fuel prices are driving Prius prices down.

 

In my opinion Ebay is a great calculator of current used car prices. I think KBB over-inflates the prices and so does most everyone selling their Prius in the for sale section here.

 

resale prices are really subjective. i just picked up my prius (2007 pk5) for 16500 with 15800 miles. it probably would have sold for a few thousand more, but that's what the buy it now was on ebaymotors and i jumped on it. seller's loss because they wanted to sell quickly.

 

nice score on the prius. I will probably buy mine on Ebay too. Did you have to travel to pick it up?

 

i actualy found it 20 miles ~ 1 hr away from my parents house in paterson, NJ. i go home frequently to help work on a house we've been building so it was simple to combine the two trips, and took the amtrak one way. I've been looking on ebay and autotrader and toyotacertified and random dealer websites for a few months though, patience (and a fiancee with a car i can borrow) helps. :rockon:

 

I'll say. Add the stock market to that. There is serious deflation going on right now. The media hasn't helped, focussing daily on the negative (mortgage rates are at 4.5%. hello?) Solid corporations are seeing their stock prices melt to nothing. The car industry is a shambles, thanks to volatile oil prices and recession.

Nobody will say it, but I will. We may be seeing a collapse of capitalism, brought on by financial market corruption and government failure to regulate. Any system will break down if abused enough.