Resale Value Sucks!

Discussion in 'Dealers & Pricing' started by Matt_A, Jul 14, 2015.

  1. wjtracy

    wjtracy Senior Member

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    OK...well NY is next best thing to CA...DC has hybrid sales tax exclusion wonder if for used, DC metro is hybrid hub. One thing I do is check CarMax.com in Laurel MD location for pricing ideas. They have new and used Prii.

    North VA has some HOV and local tax benefits for used Prii. We pay hefty annual car tax on car value so a used car like yours might be nice, would be hard to afford new. Say in Arlington someone could get HOV, and much less car tax vs. new, and Arlington gives hybrids a car tax break. Triple play (the best HOV can only be gotten if they already have HOV but they can transfer plates).
     
    #21 wjtracy, Jul 14, 2015
    Last edited: Jul 14, 2015
  2. Beachbummm

    Beachbummm Senior Member

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    OP didnt your car just get stolen and could it be in a lake? just asking
     
  3. wjtracy

    wjtracy Senior Member

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    Wasn't that Mary from Orlando?
     
  4. Beachbummm

    Beachbummm Senior Member

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    LOL yeah.....it was so if it worked for her, I assume this owner has insurance
     
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  5. Matt_A

    Matt_A Junior Member

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    LOL! What is probably going to happen is my wife will talk some sense into me, I will spend 5 hours detailing the Prius this weekend, and it will look so good I will forget about getting rid of it. But man, that Audi A6 is sweet......
     
  6. Codyroo

    Codyroo Senior Member

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    Can you afford to keep the Prius (as a daily driver) AND get the Audi (as a weekend "fun" car)? You'll get a lot more bang for your resale buck if gas prices get high again. Right now, they are pretty low, so the demand for the Prius goes down.

    Myself, I don't worry about resale values, because I drive my cars until they don't work anymore. Already have 5 years and 120,000 miles on my car, and have only put 2000 gallons of gas into it. Compared to a SUV that would get 15 mpg, I've not spent $21,000 on gas, not to mention tires, belts, services, etc.

    Mathhammer (15 mpg into 120,000 miles = 8,000 gallons of gas. 8000 - 20000 = 6,000 gallon difference (6,000 * $3.50 gallon = $21,000 and this assumes a SUV doesn't use premium fuel).
     
  7. Matt_A

    Matt_A Junior Member

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    That depends on you definition of "afford to". Yes, I could do it. But it wouldn't be a wise financial move. It really only makes sense with the money from selling the Prius. Besides, I really don't have any need to keep and maintain 3 cars.
     
  8. Stevevee

    Stevevee Active Member

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    My v had a sticker of around $29k, I took 2 off. But even in 2013 I saw the car decline like it was an old Plymouth;)

    Our 1007 Camry hybrid value even at 120k plus mile surprises me with a value of $7k or so. Cars are never an investment, but at only 21K after two years, my Prius is a huge loss by comparison.

    Good thing I have always planned it as a long term car, say six plus years.
     
  9. Xterra72

    Xterra72 Senior Member

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    Unfortunately any brand new car depreciates drastically as soon as you drive it off the dealer lot.

    I guess best bet is to purchase used so most of the depreciation has already occurred and more likely a bigger return on your investment if you decide to sell in the near future.
     
  10. Beachbummm

    Beachbummm Senior Member

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    the longer gas stays cheap the less the prius is worth, I bought one to fix up and resell....a year later I still have it and would love to break even on my "investment" ...but I never buy new cars..learned that lesson when I was younger, lost 50% in just over 3 years when I made my last payment and asked what they would buy it back for. we live and learn
     
  11. matt b.

    matt b. Member

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    gas is almost $5 a gallon here in Southern California so resale value should increase
     
  12. SAronian

    SAronian Active Member

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    When researching purchase of a Prius it appeared that there was an unusually high depreciation the first year, which tapered off by the 5th year. Prius HV and PHV resale was fairly standard after 6+ years.
     
  13. 2k1Toaster

    2k1Toaster Brand New Prius Batteries

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    If you're whining about a few grand depreciation from a new car to a used car, "wise financial moves" are not really your forte. Any new car will lose a bunch of value the second you drive it off the lot, quite literally. You bought the car when gas was high and discounts were low. Now you want to sell when gas is low, discounts are high, and you have a used car with excessive miles on it. Why would you buy a 2 year old car with too many miles over a new car with no miles? The price. It has to be low. The dealer is going to want money, so knock off a few grand there too.

    If you want a fun car, get a fun car. But the Prius is a car to keep. I've got the Prius and a Leaf along with some "fun" cars, exotic cars, and plush SUVs. Leaf and Prius are what gets driven almost every day. But I wouldn't trade the weekend time in the DeLorean for anything else.
     
  14. bisco

    bisco cookie crumbler

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    maybe it's time to join the guys in the socal mod forum.:cool:
     
    #34 bisco, Jul 14, 2015
    Last edited: Jul 14, 2015
  15. Beachbummm

    Beachbummm Senior Member

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    really? only 2.53 here in florida...why so high there?
     
  16. wjtracy

    wjtracy Senior Member

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    well that's a different topic but FL does not have EPA reformulated gasoline (yet) then you gotta look at state and local taxes (which are not reported on your receipt so that's problem).
     
  17. vskid3

    vskid3 Active Member

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    You say that like the Audi would be a wise financial move. ;)
     
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  18. Matt_A

    Matt_A Junior Member

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    Gee...thanks for the Econ 101 lesson. My gripe is not that it has lost value. My gripe is that it lost roughly 50% of its value in 2 years. That is excessive...especially for a Toyota.
    And I'm sorry, but I hope the DeLorean is the "exotic" you mentioned.
     
  19. Matt_A

    Matt_A Junior Member

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    No "normal" car is a wise financial move...period. But you can make a good comparison between these two. Both 2013's and close to the same mileage, yet the Audi has retained a much larger percentage of its resale value after allowing for turn-over profit.
     
  20. ETC(SS)

    ETC(SS) The OTHER One Percenter.....

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    I was sore at having to pay $2.31 the other day..... :)

    Iran is about to enter the oil market.
    If I'm one of their competitors (i.e. the Kingdom,) I'm going to start dumping oil on the market to reduce their initial attractiveness to foreign investors.
    Kai Ryssdal says I'm wrong and that oil will go up in the months ahead.

    Either way, since all of the eco-chic are driving BEVs now, and the G4 is only months away from arriving in the dealerships I'm guessing that the G3 market will be soft for 6-8 months. That's the bad news.

    Good News: Priuses still every bit as reliable and frugal as they were 3 years ago. I don't think that $2/gal gas is especially cheap, so I still think that they're worth it.

    Call me if gas gets and stays below $1/gallon! :)
     
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