I have been in this business now for almost 12 years and been through the last $4.50 a gallon gas episode. Last time, folks who owned big SUV’s were dumping them for 8 and 10,000 below the value they were months before. Hybrids that were selling at invoice 2 months earlier were selling for $1.000 over MSRP….so what do you think.
Hybrids are a different kind of vehicle
….and many folks simply do not like the ride or the way they handle….but bring on 4 to 5 dollar a gallon gas and all of a sudden, they can put up with the little idiosyncrasies….and here we go again.
Now the prices have not gone crazy yet, but I have already heard from the new car dealers, that internet Prius’ are moving quickly toward MSRP..two days ago I was able to still buy them at invoice….and the used Prius’ have jumped about 6 to 700 dollars in the last 3 weeks.
Gas prices going crazy…will your hybrid help
My experiences with these cars…(Toyota Prius, my favorite) has been great for used. I am currently driving one with 132,000 miles, and getting 43 to 47 MPG…and love it…and for me the hybrid will help…but I put 25K a year on…my old car got 26 MPG which at $4.50 a gallon = $4,326 per year for fuel. My Prius is getting 43 to 46 so lets say 44 for the same 25K miles will only use at $4.50 a gallon $2,556 saving me $1,769 for the year.
The 2004 and newer vehicles have great overall reliability and great battery expectations. A NY taxi test ran them upwards of 300,000 miles with no battery problems….unfortunately if your going to buy a used one, you need to get off your butt and buy…every day the price of gas is going up…every day the cost of the Hybrid is going up.
So what do I think… I think if gas goes to 4.50 or 5.00 per gallon these Hybrids and going to be silly expensive again..
If you don’t buy soon, you might as well just wait for the cycle…to come around again.