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Trade in this 01 Prius, or try to sell it Private Party?

Discussion in 'Generation 1 Prius Discussion' started by osp, Apr 10, 2010.

  1. osp

    osp New Member

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    Hey guys,

    I just made an account here, because my father is finally getting rid of his 2001 Prius, and he's trying to decide whether to sell it private party or just trade it in. The main reason that he doesn't want to sell it private party is that it does have some issues that he would want to disclose to anyone buying the car, and he's not sure if it would be worth much over the trade in values, with the issues that it has.

    So it's a silver 2001. It's got a little under 148,000 miles. The body has some paint issues - mostly in that there's some scratches pretty low on the body that have been sprayed over over with grey spray paint, a few minor dents, and that part of the plastic front bumper is cracked through. There's little rust and structurally everything should be fine. I can go take a closer look at things if people want me to.

    The car runs very well. It's gotten a lifetime average of 44.7 MPG.

    The car does have some problems though. It's currently throwing code P0420 (catalytic converter) every 30 to 200 miles. It was throwing this code, or maybe a similar code earlier this year, and he got an oxygen sensor replaced, which fixed it for a while. Our mechanic thinks maybe the other oxygen sensor needs to be replaced.

    This past summer, we got code P3125 a few times on particularly hot days. I'm not sure if we got the sub codes - I was reading about that earlier - but a Toyota dealership told us that it was a an inverter overheating code.

    We haven't gotten the inverter code at all since the summer, and there's been no decrease in MPG since we started getting either code. So there's no reason to believe that the inverter itself is damaged, but clearly the cooling system has an issue.

    The actual radiator for the inverter is slightly damaged; it was dented in when the front plastic was damaged, when my father hit a snow bank in the winter of 08/09. The pump for the inverter cooling system was never upgraded - so replacing that and the fluid might be enough to get the whole system up to snuff.

    The car also has an annoying habit of having the panic alarm go off for no reason. It only happens less than once a week, but it's quite annoying when it happens at 2 AM.

    Various Toyota dealerships have been offering us between $2200 and $2800 for the trade in, although the one we're probably going to go with is only offering $2200.

    Do you guys think it would be worth it to sell the car private party - disclosing all of the issues - and what do you think it would be worth that way?

    Thanks a lot.
    OSP
     
    #1 osp, Apr 10, 2010
  2. Paradox

    Paradox Prius Enthusiast / Moderator
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    Trade it in and avoid the problems of someone coming back to you with problems... Whatever you get for it on a trade reduces the taxes owed on the new car purchase (if there is one) and also avoids someone constantly calling/knocking on your door as to problems they are having.

    From my experience when you trade, they look at one thing and one thing only... Mileage. All else doesn't matter as the dealership will make the vehicle ready for sale. Just do not make them aware of every single 'problem' you are experiencing.
     
    #2 Paradox, Apr 10, 2010
  3. bwilson4web

    bwilson4web BMW i3 and Model 3

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    When a dealer buys a car this old, it tends to go to an auto auction and then get picked up by someone else. Eventually, it will find a home either in the hands of a fixer or someone trying to find a bargain, or a salvage. It is hard to say where it will go but it won't be your problem.

    If you were closer to the West coast, I know a Canadian who might be interested in the car. But finding people with the patience, skills and interest in keeping an old car running, even a hybrid, is not going to be easy.

    We were offered $2,700 for 3001 Echo with 30,000 miles, original tires, and some hail dimples in the hood. I went to work and complained about the low price to a co-worker and we agreed on $3,000. He's had the car for nearly a year and drives it daily. He is happy; I'm happy; and the dealer was happy.

    So let me suggest, put an ad up for the car at local grocery stores or other public places. List the work and a fair price, say Kelly Blue Book for a fair car with that many miles. Let them make a counter offer and if equal or better than the dealer price, strike the deal. The old saying is pick two of the following three:

    • Good
    • Fast
    • Cheap
    If you do a private sale, let them know about PriusChat and 'drivable but may need catalytic converter.'

    Bob Wilson
     
    #3 bwilson4web, Apr 10, 2010
  4. cwerdna

    cwerdna Senior Member

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    Not for every state. See What Fees Should You Pay?. In California, where I'm originally from, trading in has no bearing on sales tax. You have to pay the full amount of sales tax, regardless of whether there's a trade in.
     
    #4 cwerdna, Apr 10, 2010
  5. Patrick Wong

    Patrick Wong DIY Enthusiast

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    kbb.com thinks the private party value of your car in fair condition is ~$4K.
    2001 Toyota Prius - Private Party Pricing Report - Kelley Blue Book=

    If the catalytic converter had to be replaced, that bill alone would be ~$2K at the Toyota dealer because of the hydrocarbon absorption chamber located upstream from the converter. It might cost a few hundred $s to replace the inverter coolant pump, assuming that is the root cause of the P3125 problem.

    Given the issues the car has, I personally would accept the trade-in offer and be done with it.

    If your dad is not in a rush to buy his new car, he could list the 2001 for sale and see what interest the ad produces. If he can sell the car privately, great. If not, then trade it in.
     
    #5 Patrick Wong, Apr 11, 2010
  6. Paradox

    Paradox Prius Enthusiast / Moderator
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    Wow, didn't know that, that sucks.
     
    #6 Paradox, Apr 11, 2010
  7. mkaresh

    mkaresh Member

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    Sounds like it might be worth figuring out whether the converter needs to be replaced, or just the O2 sensor.
     
    #7 mkaresh, Apr 11, 2010
  8. adric22

    adric22 Ev and Hybrid Enthusiast

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    By the sound of it, I probably wouldn't pay more than a few hundred for a car in that condition, and that would be just to part it out. I don't mind buying a car with a few mechanical problems as long as the body is in really good shape. But on this car, by the time you fix all the mechanical and body problems you could have probably bought a new car.

    So from your perspective, it would be best just to trade it in. I doubt you could sell it to an individual for any more money than that, assuming the individual was aware of all the problems.
     
    #8 adric22, Apr 11, 2010
  9. bwilson4web

    bwilson4web BMW i3 and Model 3

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    Perhaps try Ebay or Craigslist?

    But it comes down to how soon you need to dispose of the car.

    Bob Wilson
     
    #9 bwilson4web, Apr 11, 2010
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