Prius prices ... new higher than used

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bwilson4web 15 years ago

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"Rising gas prices and the earthquake in Japan, which shuttered automotive production for weeks, are also playing a role. Dealers worried that about possible shortages from the Japanese automakers are stocking up on used fuel-efficient cars so they have something to sell later this summer.

The most startling effect is on the fuel-efficient Toyota Prius, which is worth $2,555 more today than it was when it was new a year ago, according to Kelley Blue Book, which tracks used car resale values."

So how are gassers doing?

"That's particularly true for fuel-efficient cars, which are seeing higher sales due to high gas prices. Manheim says prices on all compact and midsized cars are up 60% compared with six months ago. But large SUVs and pickup trucks are up just 5%."

Bob Wilson

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Elmo P. Shagnasty 15 years ago

What is a "gasser"?

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bwilson4web 15 years ago

Well I decided to find out what happened to the price of my wife's

2010 Prius.

In May 2009, we bought her silver, series III, 0 miles for: $24,250

In May 2011, Ebay just listed a completed sale, item 120716991462, a silver, series III, 10,200 miles for: $26,500.00

26,500 - 24,250 = $2,250 increase in value

Gosh is it nice to own Prius, two of them.

It will take some time to assemble the answer. So I'll post in the thread "here's your generator" in a few hours.

Bob Wilson

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News 15 years ago

Just a bit of "Greater Fool" willingness to pay, there....

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bwilson4web 15 years ago

On May 15, 2:43 pm, News wrote: . . .

It is called 'supply and demand', the free market, and combined with high gas prices and Prius production limits . . . we're likely to see more reports of the "Prius premium." Back in 2005-06 there were waiting lists and Toyota dealers where adding thousands to the price.

Bob Wilson

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News 15 years ago

Good luck with that. Really endears consumers to the brand and dealer.

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bwilson4web 15 years ago

Funny you should mention this. We tested a Prius in 2001 but went with an Echo . . . barely with the local dealer. Then in 2005, the same dealer and I was on a waiting list and got a phone message that sounded like an auction! But a couple of months later, our Camry was lost in an accident and I needed a replacement.

Using Ebay, we bought a used 2003 Prius in Fort Worth and I drove it home and never looked back. Then in January, I got an exceptionally good deal on a 2010 Prius and we sold the 2001 Echo and no regrets.

Saturday I paid $35 for 535 miles of service, 61 MPG for that tank in the 2010 Prius. The 2003 Prius is still my commuting car and it is running 52 MPG with almost 138,000 miles.

I use the local Toyota parts department but the 2010 was bought through the Decatur dealer. The Huntsville dealer has too easy of a job and they have become lazy. But I don't confuse the local dealer with these superior cars. Nothing on the road comes even close although the electrics and plug-ins look pretty good.

Bob Wilson

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Davoud 15 years ago

Bob Wilson:

I bought my Prius new in mid 2006 from Carmax in Laurel, MD. They were in short supply, but Carmax was knocking a reasonable amount off the invoice.

It so happens that I wasn't on the waiting list. A few people who were on the list had rejected the car that I bought because it had leather and navigation and they wanted a basic commuter and weren't willing to spend the extra $ thousands for those options. I specifically wanted the nav system (don't really care much for leather). I just happened to go to Carmax on the right day and at the right time--it was late in the day and the sales manager was outraged that a new Prius was going to sit in the lot overnight--and I happened to have my checkbook with me, end of story.

Except to note that the color is "magnetic gray." I hated the color when I first saw it and I still hate it five years later.

Davoud

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bwilson4web 15 years ago

That matches a lot of reports I read at the time. If you happened to walk into the dealership say at the end of the month and they had one in stock ... success. But if you were on a waiting list, it was an auction.

I had considered going to some of the more rural Prius dealers in Alabama. Our Good ol' boys never really took to the Prius but that is another sad tale of right-wing, 'politically correct' prejudice ... which means more Prius for the rest of us.

Bob Wilson

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Neo 15 years ago

In general, cars made in japan or cars that depend on a sole-sourced japanese part will be in shorter supply this year. New hybrids made only in japan like the Prius and the Insight are going to be in short supply for this year which inturn has raised the used prices as well. So strangely enough my slightly used Prius is worth more than I paid for it - I suppose if I sold it now I'd have to pay capital gains tax on it? (9_9).

However, I am not yet finished with my two year hypermiling experiment ( which tentatively ends on 2012 June since I want a minimum of two years of data with a possible option of a third year of data if I believe something wacky is going on). So I am not remotely ready to give up my 2010 Prius anytime soon.

ROI operational cost ===============

My 2010 annual gas consumption was about

500 gallons. My 2009 annual gas consumption was about 1500 gallons using a 1990 Honda Accord. So for 2010, I avoided buying about 1000 gallons of gasoline which was priced at about $3.00 per gallon. So for 2010, I saved about $3000 in fuel cost with respect to my 2009 fuel cost . While I don't expect my 2011 fuel consumption to drop signficantly more than the first year the price of gasoline this year is likely to be closer to $4.00 per gallon so my projected fuel savings for 2011 with respect to my 2009 fuel savings should be about $4000. I suppose if the trend for gasoline prices stays the same then gasoline will hover around or more than $4 per gallon for the next five years. Hence, my fuel cost savings the first six years (if I drive it that long) will be about $23,000. Before I bought my Prius I was doing all these what if scenario - and it said that if gas prices climb to $5 to $6 per gallon in the near future that the Prius would pay for itself in fuel savings within 4 years time.if I avoided buying all the fancy options and got the base model.... However, because of a new law - I just had to have the bluetooth option for my cellphone....

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bwilson4web 15 years ago

On May 22, 8:57 am, Neo wrote: . . .

It sounds like you're driving well over 20,000 miles per year? Awesome.

Bob Wilson

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Elmo P. Shagnasty 15 years ago

Well, Bob ASS-U-MEs again.

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Al Falfa 15 years ago

Well, Bob ASS-U-MEs again.

You admit, then that Bob has made and ass of you again? You candor is appreciated.

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bwilson4web 15 years ago

Thanks, another teaching moment:

40 MPG * 500 gallons = 20,000 miles :: requires very high speeds 45 MPG * 500 gallons = 22,500 miles :: for a lead footed driver 52 MPG * 500 gallons = 26,000 miles :: what I would get at 65-70 mph

Understanding what sort of annual mileage the original poster is getting with their ZVW30 leads to suggestions on how to improve their return on investment (ROI.)

Bob Wilson

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Neo 15 years ago

my bad.

My mind got all fuzzy and I screwed up... (9_9) Well If I go back to my spreadsheet I come up with a more conservative figure...

correction =======

Over the last year I drove the Prius only 12185 miles and I used only 206.548 gallons of gas which costed $626.64 at an average cost of $3.034 dollar per gallon.

If I had drove my 1990 Accord my gasoline usage would have been 570.13 gallons ( the mileage on

1990 Accord varied so I would have gotten between 28 to 32 mpg while on the superhighway going to Michigan but I would only get about 20 to 22 mpg during the summer commutes and about 19 to 17 mpg during my winter commutes). The 2010 actual saving in fuel usage should have been an estimated 363.57 gallons with an estimated annual savings of $1103. Because I've learned additional skills on how to get better mileage using the Prius I expect this summer my fuel efficiency increase by +5 mpg over last summer (60mpg ==> 65 mpg) However, last summer gasoline was about $2.75/gallon and this summer it looks like gasoline will be about $3.90 /gallon so it looks like I'll be spending more for gasoline in 2011 because my 10% fuel efficiency increase will be wiped out by a 42% increase in fuel cost..

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Neo 15 years ago

Yeah -- i messed up! My bad. Sorry about that! :-(.

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bwilson4web 15 years ago

No problem! I appreciate the correction.

As a suggestion, you might want to look at

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MyHybridCar.com or fuelly.com to record mileage:

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- this allows you to contribute to one of the best collections of mileage on the net. The only problem is individual records are not publicly available for detailed analysis.

MyHybridCar.com - as site I moderate, it specializes in hybrid car mileage records and news. Discussions are free and open except to spammers and trolls.

fuelly.com - another open site, it is popular but I don't do much with them but they seem to be pretty solid.

Bob Wilson

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Elmo P. Shagnasty 15 years ago

What's that, Alf?

Bob ASS-U-MEd something, and it turned out he was completely wrong?

Not the first time, and not the last time.

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bwilson4web 15 years ago

He is getting excellent mileage:

12,185 / 206.5 ~= 59 MPG

I'm hoping he'll share his mileage data at one of the public sites.

Bob Wilson

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Al Falfa 15 years ago

What's that, Alf?

Bob ASS-U-MEd something, and it turned out he was completely wrong?

Not the first time, and not the last time.

Hey Elmo, you called yourself and ass, I didn't. Are you going to let yourself get away with that?

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Prius prices ... new higher than used

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