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Say BYE BYE to our resale!

Discussion in 'Gen 2 Prius Main Forum' started by seasidetraveler, Dec 19, 2005.

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  1. seasidetraveler

    seasidetraveler Member

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    Wow... what a nasty bunch!

    I meant no ill towards the Prius, I actually have really enjoyed mine, BUT- what you guys don't get is not everybody keeps their car for 10 years, and I should not be looked down on for enjoying a new car every couple years! It is the one interest that I have... no sports, or hobbies that others may spend their money on (or kids)- so why is it so wrong for me to enjoy driving a new car?

    I bought the Prius to SAVE money (on gas, and also was banking on it holding it's value better than a typical car), and my point was that obviously the Prius isn't all that it was cracked up to be.I was hoping to enjoy a couple years with the Prius, and then move on, probably to another hybrid- maybe even a Prius. I had the idea that Toyota's were the smartest way to go as far as keeping it's value, and yes I will admit- hearing that the gov. is giving a $3100 credit scares me, because now I will have an even harder time trying to sell it, and now will be stuck with it for longer than I thought- which is fine, just not what I had planned originally.

    Maybe the Prius will be reliable for me, I sure hope it is. I have owned many different makes and models of cars, and they aren't SMART investments- the most secure investment is REAL ESTATE. You think I am dumb?

    And yes, a few people have brought this up already... you guys think you will be safe (resale wise)keeping it for 5+ years? HA! Think again! The hybrid market is quickly growing, and now fuel cells are coming... you think in 5 years the GEN 1 or 2 Prius is gonna be the best choice? NOPE!

    I had no intentions of causing trouble, but you guys are some of the rudest!!! I am a fellow Prius driver, and a fan- so BACK OFF :)

    Hey, 1 more thing, is the tax credit the same on the Escape Hybrid, I am not sure...
     
    #41 seasidetraveler, Dec 20, 2005
  2. aaf709

    aaf709 Ravenpaw of ThunderClan

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    Resale again? To me, resale is like marrying a woman in order to get her ready for her next husband. :)

    Resale never has entered the equation with cars for me either having a car a long time or short time. My last car I donated to an animal charity (I admit, I had put over 194K miles on it so didn't consider it as a trade-in). This is why I've found it odd to think along those lines.

    I don't think people are angry because you want to enjoy a new car every couple of years, it was more because you were angry you'll have trouble reselling due to the credit. Like the others I just say you should wait a bit longer this time.
     
    #42 aaf709, Dec 20, 2005
  3. LaughingMan

    LaughingMan Active Member

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    Just wait until mid 2006 and you'll see the resale price of all 2nd gen Prius jump up again. Jeez.

    My problem is that you were talking like it's Toyota's fault that the resale is dropping. It's NOT.

    And you brought up the same age-old gripe about how the Prius mileage sucks and you might as well have bought another car.

    If the car has been such a huge disappointment for you, go ahead and sell it.

    Next thing we'll hear from you is b*tching and moaning about the Prius resale values dropping when they ship the 07' Camry Hybrid or heaven forbid a new styled Prius!

    This is just like people getting pissed off when they buy a computer only to have it go "obsolete" in a year. Same exact thing. Just buy the car when you need it, and don't fret when the resale of your car "drops"

    You want to know how much I think about resale value? ZERO. I don't freaking care. In fact, if the resale goes down, better for me. My car tax every year from the state of MA drops.
     
    #43 LaughingMan, Dec 20, 2005
  4. seasidetraveler

    seasidetraveler Member

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    See, I know that I won't be keeping a car for more than a few years, and I don't wanna end up losing a lot of money in the end... I had bought a few Ford's, and though they were fun cars, I hated them when I looked at the BB value- It makes no sense to me... Especially older Toyota's- like the pickups- they REALLY hold their value- it's kind of rediculous- but then you look at a Ford or GM, and they lose half there value when you drive off the lot! (yes it's an exageration)

    I think, if you maintain any vehicle, it should last many years, although there are lemons, any car that is cared for and properly maintained will last- Not just because it has a Honda or Toyota badge on it.
     
    #44 seasidetraveler, Dec 20, 2005
  5. richard schumacher

    richard schumacher shortbus driver

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    Buying a new car every few years is an expensive hobby. If you can't afford it, don't do it.
     
    #45 richard schumacher, Dec 20, 2005
  6. seasidetraveler

    seasidetraveler Member

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    No I was not saying that the mileage sucks!!! Where did that come from? I love getting 40+ mpg! I SAID:

    If I would have known that the resale value would drop so much, I would have been better of buying a typical 4 door sedan, and saved a few thousand $$-

    NOTHING to do with good or bad mileage, just that you do pay a lil extra for it being a Hybrid, and if I would have known at the time that my resale may drop significantly, I don't know that I would have made the purchse...


    I will not be b**ching or moaning, I will keep my Prius and enjoy the high mpg's for awhile longer...

    In all honesty- I was considering buying a 2nd Prius- I am buying a new home, and it is further from my work, so I thought about selling my truck (I will be living in the city soon) and buying a 2nd Prius so that my current one doesn't get so many miles on it, but that to me doesn't seem like a smart move at all really... just rack up the miles on my '05 and enjoy the mpg's
     
    #46 seasidetraveler, Dec 20, 2005
  7. keydiver

    keydiver New Member

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    The estimated Ford Escape tax credit is $2600 for a 2WD, and $1950 for 4WD, but I can't believe you'd consider one after your past history.
    But, like everyone else said, this is only a short term blip on the radar. As soon as the 60,000 Toyotas are sold, the prices should rebound nicely. But, I also agree that your ownership of Ford products has probably spooked you. I've found that my Japanese-made cars have typically made it to at least 200,000 miles before the repairs exceeded their value. Just ride it out! ;)
     
    #47 keydiver, Dec 20, 2005
  8. maggieddd

    maggieddd Senior Member

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    can you tell me what you would have bought instead? and can you tell me if you are claiming a credit/deduction for yours?
     
    #48 maggieddd, Dec 20, 2005
  9. seasidetraveler

    seasidetraveler Member

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    The Escape Hybrid would be fun, I loved my Escape's, but I just don't know if I trust the Ford hybrids yet.... I was just curious is the credit was the same- because I have only been hearing about the large credit for the Prius.

    maggiedd- I am not sure, if I was to buy another sedan, there are so many out there to choose from. I still need to figure out if it will work out with the tax deduction on me, because of my job, my car is a write off anyway- I need to consult a tax pro.



    Hey I have a general question- one that I am sure has been addressed on here before... Was the dealer who sold you your Prius knowledgeable at all about the Prius??!! Mine wasn't- and so every fun feature I have discovered on my own- you should have seen my face when I discovered the SKS feature! I walked up to the car and the light came on inside, and then I went to open the door and it unlocked- I was blown away! Just curious why the sales people don't know about this car!! I guess people just go knowing they want it?
     
    #49 seasidetraveler, Dec 20, 2005
  10. aaf709

    aaf709 Ravenpaw of ThunderClan

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    I got mine at Carson, so Diane showed me a lot, but she didn't show me everything. Maybe she thought I knew a lot as I was on the Yahoo lists. I didn't know how the SKS worked until it was a day or two later. I thought I had to push the black button to unlock! :blink: Very embarrasing to show off a new car's feature to my friends and have to resort to the remote to make it work.
     
    #50 aaf709, Dec 20, 2005
  11. flynz4

    flynz4 Member

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    You probably would have been better off.

    I think that many people think that the high resale value will remain high over time... but I do not think so.

    1) If you plan to keep a car till it dies... clearly it doesn't mater. This is probably the most cost effective way to own a vehicle.
    2) If you plan to keep a car until the end of the warranty period (ie: 100K mile), then you are probably worse off with a hybrid vs a traditional car... because the target market will be very cost conscious, and will not be likely to assume the liability of a complex car with no warantee coverage. I think that an "old hybrid" has a big risk of being (or percieved to be) more expensive to maintain than an "old traditional" car. I could be wrong.
    3) I don't know much about selling a car after 1-2 years because that is not something that I would plan to do.

    I am in category #2 above. In 7 or 8 years when the warranties are over... I will be ready for a new car anyway. In my experience... that is when a lot of simple things start failing. My daughter's $650 fuel pump on her 80K mile Jeep last week is an example. I personally want to upgrade at about that point.

    /Jim
     
    #51 flynz4, Dec 20, 2005
  12. maggieddd

    maggieddd Senior Member

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    well, I am curious what car you would choose that would hold your expectations as fas as the resale value goes. I know it wouldn't be Toyota as you said you would have not bought Toyota if you knew that the resale value would drop. So, I would like to know what it would be.
     
    #52 maggieddd, Dec 20, 2005
  13. seasidetraveler

    seasidetraveler Member

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    Oh ok... my dealer in Fresno, CA knew how to turn it on, that was about it. I would say overall my satisfaction with the Prius is 99.9%, but the I have had terrible luck with the dealer's- I even tried going to a different Toyota dealer, but they were even worse. The dealer I had bought it from told me that my Prius didn't have the recall on it, I went to the other dealer for an oil change and I had them look it up- and sure enough.... so I took it back and they did the recall work.

    I did have my car serviced at Thousand Oaks Toyota in so-cal, and they were great! They were very knowledgeble AND friendly! I think If I were to buy another Toyota, I would make the trip down there- the service is very important to me.
     
    #53 seasidetraveler, Dec 20, 2005
  14. seasidetraveler

    seasidetraveler Member

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    magiedd- With another brand (ie Ford, GM etc) I expect poor resale. I could have bought a Corolla and not worried about bad resale... The Tacoma's almost seem to gain value instead of lose it! I love those trucks- and I guess many people do- that's why they keep their value.

    But if I bought a Ford Focus for $16,000 let's say, I would have known that right away it would be worth maybe $13,000?

    I will follow the advice given, keep the car longer, and see how the Prius market goes. Until gas gets back to $.99 a gallon, there will always be a demand for a hybrid- happy trails
     
    #54 seasidetraveler, Dec 20, 2005
  15. maggieddd

    maggieddd Senior Member

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    That doesn't make sense. You just said you would not buy Toyota if you knew that the resale value would drop so quickly and now you are saying you could have bought Corolla or Tacoma.
     
    #55 maggieddd, Dec 20, 2005
  16. seasidetraveler

    seasidetraveler Member

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    Correction, my point was that if I wanted to buy a car with poor re-sale- I would have bought some other brand. I had the impression that ALL Toyota's had great resale- that was my point
     
    #56 seasidetraveler, Dec 20, 2005
  17. galaxee

    galaxee mostly benevolent

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    most salespeople don't really know the prius.

    i got commissioned (okay, they didn't pay me but it worked out to our advantage anyway) to write up a 'Prius Guide for Salespeople' for my husband's employer. it worked out to our advantage because the salesguys quit bugging him every half hour and he gets to do his job in peace- for the most part. less distractions=more concentration=more income.

    i still think they're missing things, customers are still coming in saying "hey, my dash lights turn off when i turn on the headlights!" and while the rental car girl is setting them up with a car, DH goes out and shows them the dimmer switch...
     
    #57 galaxee, Dec 20, 2005
  18. seasidetraveler

    seasidetraveler Member

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    Also, to those casting stones at my car addiction- I don't always buy NEW cars... often I look for a great deal on a car/truck, drive it for a little while, and then sell it for more than I paid, or to break even... Just like my current truck, I had a long term relationship with my local Ford dealer, they had a used truck on their lot for 2 months, wanted to get rid of it- so I picked it up... now I have 2 people that want to buy it for more than I paid for it- I don't call that stupid or obsurd.
     
    #58 seasidetraveler, Dec 20, 2005
  19. efusco

    efusco Moderator Emeritus
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    Remax,
    I'm sorry you feel that so many of us have selected you, of all the 11k members, to be nasty toward. I don't think any of us are trying to be hateful or nasty.

    But a taste of the cold hard facts, logic and numbers when you don't want to hear them can be hard to swallow.

    Let's look at the thread. You started by saying you wouldn't have bought a Prius if you'd have known how much of a drop in value they might take (actually you don't even know for a fact that the value will decrease). But logic dictates that this is a new vehicle in uncharted territories and no one really knew or could anticipate how well they might or might not hold value. If a torrent of reports of early battery failures came in resale value would have dropped. If another manufacturer came out with a 7 passenger SUV getting 80mpg Prius values would have dropped. Would there have been a little warning--probably. Just as there was with the Energy Bill--that's no suprise. We've been discussing it here since at least early October.

    All bubbles burst. And you can't blame Toyota, or Prius, or even the gov't for your own failure to anticipate the possibility of a decline in resale value. There are innumerable variables that could cause that.

    If you like getting a new car every year or two and have the financial ability to do so then I'm not going to be critical of you, maybe some folks will, but I couldn't care less what you do with your money. But if you're going to accept a finanical loss like that it's not really fair to come here complaining about losing a little more. No one is forcing you to sell your Prius right now that the resale value is down--that's a choice you and you alone are making. 2 months ago you'd have gotten excellent resale. 6 months from now you'll probably get good to excellent resale. It isn't Toyota's fault that you decided that you want excellent resale at this exact moment in time.

    That's not being mean. That's not being nasty. That's not being hateful. That' just facts.
     
    #59 efusco, Dec 20, 2005
  20. maggieddd

    maggieddd Senior Member

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    well, not too smart just to be under the impression of something instead of doing a thorough research on the subject.
    And why are you applying your used truck strategy to your new Prius? Maybe if you find really cheap Prius you can sell it for more you paid for it, but can you find a really cheap Prius? Can you say that you bought brand new Ford truck and sold it for more than you paid for it?
    If so, why did you buy a Prius? And why didn't you buy Corrolla from the beginng for example. Sound like you just want to save $$$$ and therefore buying a Prius will not take you in that direction. You should have thought about it before you bought it. Not too smart.
     
    #60 maggieddd, Dec 20, 2005
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