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Resale Value of Prius Soars
Very few new cars appreciate in value, but unbelievably a used Toyota Prius is the exception according to Power Information Network a division of J.D. Power and Associates. Currently most Toyota dealers have a waiting list of 2+ months to purchase a new Prius and with the skyrocketing demand for fuel efficient cars, people are paying more for a used Prius than a new one. On average people payed $27,945 for a used 2008 Prius with 8,000 miles which is roughly $1,300 more than the average price of a new one. A 2007 Prius with 22,000 miles only slightly depreciated with an average sale price of only a few hundred dollars under a new 2008.
Toyota is currently making as many Prius hybrids that their plants can handle and are in the process of setting up another plant in the U.S. to help keep up with demand, though this plant isn’t set to be operational until 2010. Until Toyota can keep up with the demand it is expected that the value of used Prius hybrid cars will remain high.
This is ironic since one of the early knocks that you heard about hybrid cars and myths you still hear from time to time mention that the resale value of hybrids is very low when compared to conventional vehicles. While we all know that the Prius is a great investment, this really takes it to another level.
Source: USA Today
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August 7th, 2008 at 1:40 pm
you nailed it on the head when you said that it’s ironic that hybrid cars resale value is really high when people thought its value would be much lesser than conventional autos. i mean how often do you hear a used car, in general, sell more than when its new?
August 9th, 2008 at 6:15 pm
Now this is pretty cool! A person could realistically look at a Prius purchase as an investment in an appreciable asset rather than throwing money away like is the case with any other new car purchase.
August 13th, 2008 at 2:05 pm
That is really cool but I wonder what the trends will be when they have their plant up and running. I wonder if the demand will still be the same.
August 13th, 2008 at 5:00 pm
Wow, a car that is worth more than you paid for it new, that’s incredible, saves money on gas and makes you money to boot!
August 15th, 2008 at 1:08 pm
I would expect that once supply meets up with demand, the Prius will once again depreciate like most other cars.
August 17th, 2008 at 5:12 pm
I have a Prius…hearing this everyday from people makes me glad I have one..and makes me want to keep it in perfect condition for when the plugin prius comes out so i can sell my current prius
August 22nd, 2008 at 1:36 am
It seems that most people are still not into hybrid, honestly, I myself wont be as well. Not for the next few years that is. The resources for hybrid cars is not that easy as finding gasoline on every gas station.
August 30th, 2008 at 8:23 pm
I’m not entirely surprised by this. The stampede right now is towards smaller more gas-efficient cars, and the Prius is arguably the hottest one out there.
I’ve been seeing a ton of the Smart cars out there too, but they’re not hybrids as far as I know.
September 8th, 2008 at 2:47 am
Hi
Reselling of prius reveals the demands of that car in the market.I think that it has some shortage of production of that car,so it is necessary to produce more prius according to markets demands.
Regards
Gopal
September 9th, 2008 at 7:05 pm
So not only is the Prius good for the environment, it is a good investment!
September 9th, 2008 at 7:05 pm
I think thats a good save of money in long terms.. but its gonna be hard findin a source like gasoline if you know what am saying.
December 4th, 2008 at 6:12 am
It is about time that a car can hold it’s value. It is so frustrating to buy a brand new vehicle and just a year later it is worth thousands less than what you paid for it even if it is still like brand new and has low mileage.
December 4th, 2008 at 11:41 pm
I always love toyota cars and Parius is a very good for environment as well. I think it will be good for future as well.
January 4th, 2009 at 4:21 pm
Nice Review.i interested with this article and useful information.