Used Prius Worth More Than New?
Washington, D.C.– A Toyota dealership recently bought a year-old Prius back from a customer for $1,500 more than its original price. Could this be the result of high gas prices?
NADA chief economist Paul Taylor notes that the supply level of new Toyota Prius models has stayed in the 10-day range for the last two months. Now the supply has probably fallen to four or five days.
The real surprise here, however, is that a one-year-old Prius would bring in more money as a trade-in price than new. Though noting that this scenario is possibly an anomoly, Kelley Blue Book’s Alec Gutierrez did state that Prius values are “significantly higher” than they were a year ago. In some cases, dealers are paying $3,000 to $4,000 more at auction than they were a year ago, he told Auto Remarketing on Wednesday.
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