Joined
·
2 Posts
Howdy, I've got a 2003 Prius with nav that has 35K miles on it. Like many others on this list, I've been looking at selling it used, and upgrading to a 2006. I've been shocked... and a little bit surprised... by the high prices quoted by dealers and ads for used Prius. My car "private party" used price on Kelly Blue Book is $19,900.
Here is my theory: I think the used car prices for Prius and other hybrids will fall around $2000 starting very soon.
Reasoning: The federal tax deduction was $1500 in 2005, which was about a $600 (depending on your tax bracket and alternative minimum tax) net tax savings for most people. Starting in 2006, the federal tax CREDIT will be increasing to around $3000 NET. I live in Oregon, where we also get a $1500 state tax credit for buying a new hybrid. So in 2005, the total tax savings was around $2000, but in 2006 it will be around $4500.
Waiting list aside... why would anyone buy a used Prius with 35K miles on it for $19K when they can buy a brand new one (similarly equiped) for around $25K and get $4500 in tax savings?
What do you all think?
Jim
Here is my theory: I think the used car prices for Prius and other hybrids will fall around $2000 starting very soon.
Reasoning: The federal tax deduction was $1500 in 2005, which was about a $600 (depending on your tax bracket and alternative minimum tax) net tax savings for most people. Starting in 2006, the federal tax CREDIT will be increasing to around $3000 NET. I live in Oregon, where we also get a $1500 state tax credit for buying a new hybrid. So in 2005, the total tax savings was around $2000, but in 2006 it will be around $4500.
Waiting list aside... why would anyone buy a used Prius with 35K miles on it for $19K when they can buy a brand new one (similarly equiped) for around $25K and get $4500 in tax savings?
What do you all think?
Jim