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Paying more than MSRP for (new) Hybrids, Depreciation/Value of used Hybrids

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Comments

  • kdhspyderkdhspyder Posts: 7,160
    No it cost a lot LESS to drive a Prius than a Passat. That's the correct comparison.

    2.0L Passat w/ Navi, no leather ~$29900
    HSD Prius w/ Navi, Bluetooth, SKS ~$27300

    Thereafter every mile you drive the differential gets greater. no brainer :D
  • falcononefalconone Posts: 1,726
    I definitely have to agree. Diesel fuel is $0.50 MORE than regular here in these parts!! VW are very high maintenance and cost LOTS to repair. I'd take my chances with the Prius and the nice juicy tax credit plus 150,000/ten yr warranty. Gotta love it!!!!!
  • mistermemisterme Posts: 407
    Back to the actual title of this thread, my 2004 HCH has crossed 50K miles. Given it's almost 2 years old I checked the Kelly Blue Book to see how it is holding up.
    http://www.kbb.com/kb/ki.dll/ke.kb.sp?kbb&&&usedCars;slp

    I bought my car for about $18,500 and now it's listed at $16,500, about $2,000 difference.

    I did a comparison with its nearest sister, a similarly equipped Civic EX. That similarly equipped EX went for about $17,300 at the time.
    Kelly lists the same car at $13,300.

    Both cars @ 50K miles, excellent condition.
    HCH depreciation is about $2,000
    EX depreciation is twice at about $4,000.
    (Private party sales)

    The hybrid version of the Civic holds its value twice as well as its non-hybrid version.
  • gagricegagrice San DiegoPosts: 29,091
    The hybrid version of the Civic holds its value twice as well as its non-hybrid version.

    The way to find true market value is to ask a dealer what they will give you in trade on a new one. I was told when I thought about trading my primo Suburban in that they never consider a car in Excellent condition. I doubt that Honda will give you KBB wholesale for an HCH. That in light of the fact that Honda is deeply discounting the 2005 HCH cars left on the lots.
  • falcononefalconone Posts: 1,726
    The true measure of your statement would be if someone indeed was willing to give you that type of money for the car. As you know, it always makes sense to conduct a private sale instead of trading.
  • mistermemisterme Posts: 407
    Posts #660 and #661 are good and true.

    I'm sure that if the figures were opposite the anti-hybrid hype would be gleefully all over it.
    You know, the ones who compare a base model to a fully loaded one and are shocked the loaded one costs more.

    My last post wasn't clear enough-
    The point wasn't how much the car is worth, but that the HCH has done so much better than its non-hybrid version.
  • falcononefalconone Posts: 1,726
    Definitely agree with you. In the end, you may NOT get what KBB says, BUT you will definitely do better than if you had a non-hybrid Civic to sell. Same is true for the 04 Prius which still holds a great deal of its value. How long will it last? Don't know. Gas keeps coming down in price, so the party may be over.
  • I was online last night looking at the used car inventory at the Honda dealership I bought mycar from this past summer.
    For sale is a 2004 Hybrid Civic with the CVT transmission which has 40,000 plus miles on it and they are asking 19,999.
    I paid 20,000 out the door for my 2005 HCH.
    If this trend continues I will drive mine for two years or 40k miles and trade it in on a new one. It sure looks like the car is holding its value even with the price of gas off more that a dollar from the post huricane price spikes this summer.
    www.hondaofwatertown.com
  • tdohtdoh Posts: 298
    Gee I wonder why some folks feel it unfair to compare the Prius to a Civic or Corolla? Is it because they know that the difference in operating costs between a Prius and a non-hybrid Civic (or heck, even a HCH) is not as great as that when comparing the Prius to a vehicle with a larger-displacement engine which obviously won't return anywhere near the fuel economy that the smaller-engined non-hybrid Civic and Corolla are capable of returning? I mean, look at the fuel economy figures for the 1.8L Civic and Corolla...then look at the figures for the 2.0L Passat; is it no surprise that the 2.0L Passat is already at a disadvantage when compared to the Prius? Sure, even if it were a 1.8L engine in the Passat, the Prius would still come out ahead...but not by the wide margin that Prius and/or hybrid fanboys/girls love to tout to the non-hybrid folks.
  • larsblarsb Posts: 8,204
    Well, comparing a Civic to a Prius is problematic because a Prius is a "higher end" vehicle and can actually be $7000 more than a Civic Hybrid, and can cost up to $13000 more than a Civic DX.

    The Prius is also considered a "midsize" car based on interior space. So comparing a midsize to a compact is problematic.

    The most comparable Toyota to a Prius is the Camry. Prius is closer to an Accord in the Honda line, based on size and available creature comforts.
  • tdohtdoh Posts: 298
    And this is (one reason) why I wouldn't place any real significance on the excellent depreciation on hybrids, if I were a hybrid shopper. I mean, using the example in post #664--why should I bother buying that 40K-mile $19,999 asking-price 2004 HCH that apparently depreciated very little in value when a brand-new HCH apparently can be had for just about the same price? Or are there some folks out there who are that unscrupulous enough that they would try to convince someone that a $20K 1-year-old (or more--I think it's fair to mention this since you hybrid owners love to boast about how very little hybrids depreciate in value, even over the course of a few years) hybrid is a better buy than a $21K brand-new one?
  • larsblarsb Posts: 8,204
    quote TD-"Or are there some folks out there who are that unscrupulous enough that they would try to convince someone that a $20K 1-year-old (or more--I think it's fair to mention this since you hybrid owners love to boast about how very little hybrids depreciate in value, even over the course of a few years) hybrid is a better buy than a $21K brand-new one?"-end quote

    I think we all know the answer to that one...there are suckers born every day, and a fool and his money quickly part ways.
  • woods. Every Toyota dealership si calling, 2006 Priuses $500 and more under MSRP.

    HA!HA!

    Cheers,

    MidCow
  • Depends on where you live. In Austin certain dealerships are still moving 2007 Priuses off the lot every day at MSRP. I'm sure that's true in California, too. However, in Baton Rouge, Dallas, etc., I'm hearing of salesmen selling Priuses way below MSRP.
  • As of late, here in N.W. Indiana, prices are flexable with the addition of very favorable low interest financing. I purchased my '04 Prius over three years ago and now have 57 thousand miles. Resale seems to be in the range of 17-18 thousand in good condition. I'm one happy Prius owner and can't remember when I found a car to deliver on so many counts. :)
This discussion has been closed.