3 Solid Answers To Why Toyota Prius Has The Best Resale Value Of Any Hybrid
If you're not first, you're last. - Ricky Bobby I love that quote, and when it comes to owning a hybrid, second place, will is not good enough. I personally have owned multiple hybrids including Honda and Ford. Fuel efficiency aside, I can say that without a doubt my Toyota Prius is by far, the best hybrid.
I have been thinking about buying another one, especially after I bought this one for $1000. The issue is, the darn things hold their value so well, it can be hard for a guy like me (this is the mechanic in me speaking) to spend thousands on a newer, better Prius. Only because I like cheap transportation, not because I am unwilling to spend money on cars.
This led me to really think hard why Prius is such a great buy, and why the value of these cars stays as high as it does, even with a load of miles. These cars are super popular it seems, but the real question is why? I came up with three solid answers to that question that I think everyone needs to know.
The Toyota Prius Is Very Durable
The Toyota Prius is one of the most durable and reliable vehicles on the road. There are many Prius cars out there with well over 250,000 miles on them, mine included. Even though they have some common issues, these cars are taking the daily abuse that their owners give to them.
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My Prius is a great example of that, as I am sure many other are as well. When I purchased mine, it was mechanically beat. The hybrid battery had failed, it had a bad catalytic converter and it was also consuming copious amounts of engine oil as well. It was running and driving though.
It did take a little bit of elbow grease, and some research, but I was able to get it back on the road and completely trouble free for less than $1000, equipment included. I learned that the oil consumption issue was part of the problem with the catalytic converter. I learned how to clean out the piston ring lands with the BG hybrid repair kit, and have been able to restore the engine back to excellent health.
I replaced the catalytic converter with a new one, fixed a wiring issue, and had no trouble codes. All of this was done with minimal effort and a little research. This told me that these cars are build incredibly well, and are able to take a beating then keep on going. I now have no problem recommending a Prius to my friends or family because I know that even if the Prius does have an issue, it will not be a hard one to fix.
Toyota Vehicles Have A Great Reputation
Toyota vehicles made their name in the 80's and 90's. Toyota became a household name that people could trust would always get them where they needed to go. Prius, has for sure kept that legacy going, and been doing it for less money.
Toyota made the Prius to be a bridge between what they believe to be the future of automotive transportation, hydrogen fuel cell. While the Mirai is now going into generation 2, it has not completely taken solid root just yet. Toyota believes so much in the technology, that it is pushing to make it work, just like Elon Musk and Tesla electric cars.
Toyota, despite failures, has had many great successes. People may not call the new Toyota Supra a "real" Supra, but in reality, it is. The thing that most people do not understand, is Toyota will not do anything unless they know their reputation can be upheld. Toyota is as an automotive juggernaut, and for that company to be anything less than the best, would just be a crime.
Toyota Prius Is Synonymous With Hybrid
Ask anyone around you what they think of when the term, hybrid, is mentioned. Most people, if not all, would say Toyota Prius. This is because Toyota Prius is synonymous to that word. This means they have made a huge impact on the world. Toyota Prius has hacked the code of making a really desirable car.
Prius is in just about every country you can imagine, it is global, though it does not stop there. The Toyota Hybrid system in also in several other very popular models such as the Highlander, Camry, Rav4, and various Lexus models too. Toyota did not just build the Prius to be a hybrid, they built it to be the hybrid.
It is the car that shaped the future of every automobile since it rolled off the line in 1997.
The real reason that Prius retains such great value over time, is because it is a car that just will not die. The THS (Toyota Hybrid System) is the best hybrid system on the planet. It is a car that other cars want to be like, and try to be like. Prius is the model for all other hybrids, and it really shows. Prius holds value because it is still desirable even when it is beat up and broken down. Even then, it will still come back swinging just as hard as ever.
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Peter Neilson is an automotive consultant specializing in electric cars and hybrid battery technologies. He is an automotive technology instructor at Columbia Basin College. He holds a Bachelor of Science in Automotive Service Technology from Weber State University. Peter is also an Adjunct Instructor of automotive technology at Columbia Basin College. Peter can be reached on Linkedin and you can tweet him at The_hybrid_guy on Twitter.