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Hybrid Madness: Used Prius Averaging Higher Prices Than New Models

These are booming times for small car makers and sky-high fuel prices are causing some pretty interesting situations for the sale of high mpg vehicles.

Toyota can’t make copies of its Prius hybrid fast enough for the swelling demand, that’s bad news for Joe Consumer who’s just trying to cut down on his commuting costs every week, but great news for the dealers who are handing out the keys. J.D. Power has calculated that so far this summer (through the first three weeks of July) the average new Prius has spent only five days on dealer lots, while used 2007 model cars last only a bit longer at 20 days.

That super-quick turnaround time is impressive, but what’s even more startling is the premium at which buyers are willing to purchase used Prius. Read Article
Hybrid Madness: Used Prius Averaging Higher Prices Than New Models



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sectorsector - 8/1/2008 10:52:29 AM
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Man, the Prius will soon be harder to acquire than a GT-R!

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KZ258KZ258 - 8/1/2008 1:20:12 PM
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good news for me than ;)


Auto_expertAuto_expert - 8/1/2008 9:08:42 PM
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Too bad it didn't help Toyota's/Lexus's bottom line as they tumbled in July.


vladyxavladyxa - 8/1/2008 10:57:21 AM
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You are overpaying for the car, rather than overpaying for gasoline? Doesn't make much sence to

Let's say you drive 12,000 miles per year, and you average 22-23 miles per gallon - you use about 530 gallons per year. That is about $2,250 per year.

I checked prices for used Priuses in my area, and many dealerships are listing used (!!!) 2007 models with about 20,000 miles at $28K - $29K, which is about $6,500 more than MSRP for brand new.

If Prius gets 45 mpg - you need about 270 gallons a year to drive 12,000, or $1,150 per year.

So, Prius will have you pay about $1,100 less per year for gas, but does it worth $6,500 over MSRP for used car in order to pay $1,100 per year less for gas?

Of course, there are people who drive more than 12,000, but there are also people who drive less. So, let's not make "what if you drive 20,000 miles per yera" thing out of my comment.

It seems that for average driver, paying $6,500 over MSRP of new Prius for used one is just retarded.

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jeffy210jeffy210 - 8/1/2008 11:17:23 AM
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But, but, but, they're trying to be green. Stop trying to introduce logic into this </sarcasm>


silver1silver1 - 8/1/2008 11:27:06 AM
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I drive 30,000 miles per year so how much money will I be saving if I were to get the Prius? What will be the money savings difference from a economy car vs a Prius?


ghosthunterghosthunter - 8/1/2008 2:11:31 PM
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many people drive more than 12000 per year.



Threepoint1415926Threepoint1415926 - 8/1/2008 3:38:31 PM
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If you're driving 30K miles a year than those are a lot of high speed miles. I know because I do the same. No one drives from street light to street light 30K miles a year. And in such a case, you're actually getting worse mileage in the Prius than city driving. The equation only gets worse, not better.


michal1980michal1980 - 8/1/2008 11:25:39 AM
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stupdity caused people to buy SUV's as a commuter car.

why would we think with higer gas prices people would get smarter?

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silver1silver1 - 8/1/2008 11:31:03 AM
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A used Lexus IS 250 is selling more than a brand new one also or neck2neck . I'm not understanding why...

There is no reason why a used lexus IS 250 should be selling for $34,000 when you can buy a brand new for $33,500

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t_bonet_bone - 8/1/2008 2:17:29 PM
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I'll never forget my luck in selling an '04 MINI Cooper S, after 2 years, for $300 less than MSRP (which is what I paid).

But...I actually wish I'd kept it now! :)

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