Resale value or lack there of?

Time to check out other Toyota Dealers. Better yet have a talk with the Manager. H

 

No you are going to a worthless dealer.

However with a car having 100k miles on it, it is worth substantially less than a car with 99,999.99miles on it. Just the way it works, similar to how a car with 120k miles is worth even less than a car with 119,999.99 miles because no used car loan company will allow a loan on a vehicle with 120k miles or more.

Also, addons/extras mean diddly squat. A base Prius and a Touring Prius of the same age, colour, and miles are pretty similar in price, probably less than $1k overall difference. Never buy extras for resale, only buy them if you want them,

Now keep in mind that a dealer trade in needs some room for profit. Either his dealership is stupid, or he is just blatently lying to you about the recalls and auction crap. None of it is true, and there arent any recalls on the GenII other than the pedal trimming which is free and worthless anyways. No new parts, just an hour of a techs time to practice their whittling skills on your go-pedal.

Tradein you should expect between $6700 and $7700 for your car with 100k miles assuming it is in great condition. You can easily get $8k to $10k for your car private sale. Also keep in mind once you hit 100k miles the hybrid warranty expires. Anyone who doesnt know about hybrids and believes that you must replace the battery in 100k miles, will not even look at your private party ad. It is going to be a tough sell.

I would go to a different dealership that doesnt lie and try to deceive you (which may be hard to find) and get another tradein estimate.

 

A worthless hybrid is only a hybrid that you don't drive.

 

Or any of GM's "mild hybrids"

 

Sorta, kinda, almost, not exactly.

I paid $37,771.90 everything in for my Prius in April/08. To be fair, the price before taxes & window tint was $34,020.

The black book trade-in value as of today for the car with 46K km is $14,150-$16,160. So let's say $15,155 which is the middle.

That's a 55% depreciation in just over 2 years. That is pitiful in my opinion. I guess the depreciation in my case works out to $753/month. Heck, I should have leased, it would have been much cheaper. Hmm... I guess I should lease next time....

So to answer your question. Sorta, kinda, yeah. Not totally worthless, but the resale value is not much different than GM and Dodge.

 

100k is the cut off point that a Toyota dealer can resell a used Toyota with a Toyota used car warranty. When I traded in my 08 Prius for my 2010 it had 99,600 mi on it. My dealer practically begged me to leave it there until my new Prius came in. He gave me a 09 Corrolla rental to drive for a week so it was fine by me LOL.

 

i was offered the KBB good condition value for my daughters 04 with 75,000 miles which is $8,000. and $4,000. off msrp on a genIII. i thought the whole deal was pretty reasonable. as the dealer said, mbecause they are discounting the new ones, the used values also go down.

 

Fair enough. I would tell him that you will pay $5500 cash each for the next three he takes in trade. He gets a 10% take and you would get three cars that you could sell for at least $8000 to $10,000 each without much effort. That extra cash would go quite a way toward your new Prius.

 

I'm not sure many dealers will keep a used car more than 3 years old with high mileage. They aren't making much by selling the new one under invoice so they have to make it somewhere. Under the best circumstances the dealer will low ball the trade.

 

It's always better for you to sell it to a private party, not the dealer.