According to USA Today and Kelley Blue Book, a used 2004 or 2005 Toyota Prius can sell for $1,000 to $3,000 more than a new Prius.
There is a waiting list for new Toyota Priuses, so those who want one right away are willing to pay a little more for instant gratification.
The USA Today article describes some people who are quickly turning over their Prius, like some do with real estate, to make a quick small profit (or break even). Many people are buying the car to minimize the effect of high gasoline prices on their wallet.
The car has a big following on the internet based around PriusChat, a message board and news website for all fans of the hybrid.
For those who don’t want to wait six months on the list and don’t want to pay the used Prius premium, there are some alternatives.
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2:56 pm (reply)
I wonder how often in the history of automobiles has a car actually risen in value a handful of years after its sale (this, of course, DQ’s antique cars).
The original owner also gets the benefit of tax breaks on green cars (something the second owner doesn’t get) in addition to the “appreciation” of the car.
8:16 am (reply)
My sister looked into buying a used Prius last year and discovered this. Now she just covets mine. I will say, though, that I was annoyed to find that I only got a deduction for buying it, not a credit.