In Southern California, a 2007 with nav can be bought for $16k, and other used Prius prices are proportionate. As another benchmark, a low-mileage 2004 in perfect condition just sold for about $12.5k.
I acknowledge the drop in gasoline prices, but that factor alone does not explain what's happened to The Car With The Highest Resale Value.
???
$12.5 for a 5 year old car is a lot of money. Check out a 5 year-old SUV and see what percentage of the original price they now sell for.
Yes. But only a few months ago the going rate was $16k or more, depending on mileage/condition. The fall since the new year has been precipitous.
Perhaps the forthcoming Prius? The economy? The Honda Insight?
Not really; I got $15.5 for a five-year old Acura five years ago.
That has very little, if anything, to do with the price of a used Prius. Prius holds its value better than just about any other car currently produced.
Depends on the car.
Check out a 5 year-old
The Prius has held its value relatively well because there are few used ones available - people love them & hold onto them; whereas an SUV...
Cathy
I would also recommend looking at the price-steps:
1st) 3 yr / 36,000 miles - the initial price drop trigger 2nd) 60,000 miles - drive train 3d) 8/100,000 miles - hybrid parts, battery and inverterIt is not just the year but also the miles versus the residual warranty value. But so far, I'm not seeing a problem.
In 2005, I bought a 2003 with 49,300 miles for $17, it was $1k under KBB. I still have that Prius with ~120,000 miles and am still getting
+50 MPG.But as others have pointed out, one really needs to do a differences test by examining same year and miles non-hybrids to see what their residual value has fallen to.
Bob Wilson
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