Which Toyota Prius Generation Has The Best Resale Value?
What Prius generation has the best resale value? Well, that depends on a lot of things. I want to cover in this article a comparison between a Generation 2 and 3 Prius on which one should have the greater value.
Generation 2 Prius: The Trusty, Kind Of Ugly Prius
The majority of Prius that I have owned, fixed, and operated have been Gen 2. Why? They are tanks. The inverters are reliable, engine and transmission have very few issues, and should you encounter a problem, there is help everywhere.
Gen 2 Prius built the foundation for all other Prius models. Gen 1 was the hook that got you interested. From 2004-2009 Toyota pumped out hundreds of thousands of these little gas savers, and people bought them like mad.
What was so intriguing about a Gen 2, though? They are not the best-looking cars, and they are not the most comfortable either. That is not what keeps people buying them. It is that Gen 2 Prius is very reliable and easy to repair.
Most of the common issues with Prius (even the hybrid battery, should you be in the know) can be repaired for $250 or less if you are a DIY person like me.
Many hybrid mechanics buy and sell these cars all the time because of that. Simply put, Gen 2 is still wildly popular, and the resale price tag shows that.
I have sold Prius from $2500 up to $5500. For cars that are 17 years old or so, that is quite good. People still want this older Prius because they have proven themselves in the field of battle for nearly two decades.
Generation 3 Prius: The Diva
Everything about Gen 3 Prius was supposed to be better, and to its credit, it was. Then time and age happened. People "forgot" to get maintenance taken care of, recalls started pilling up, and before you knew it, the car you liked was now the car you did not.
Gen 3 Prius was a complete redesign for Toyota. New engine, similar transmission, new inverter, body style, etc... Honestly, I would rather drive a Gen 3, but I do not want to keep messing with all the problems they have.
I have done head gasket repairs and EGR cleanings enough to the point where I said enough. The sad part is that when you buy one of these, the resale value is typically higher than that of a Gen 2. Astounding for a vehicle with more known problems.
In my opinion, Gen 2 should have a more substantial resale value. It is a better vehicle, even though it did not win the beauty pageant.
Gen 3 should have a lower resale value because of all the recalls and nonsense of the engine and inverter. That is just my two cents, but for now, I will keep driving my Gen 2.
Thank you all for reading. I sincerely hope this helps someone make an informed decision on buying or selling a used Prius. I look forward to seeing you in the next article.
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Peter Neilson is an automotive consultant specializing in electric cars and hybrid battery technologies. He holds a Bachelor of Science in Automotive Service Technology from Weber State University. Peter can be reached on Linkedin and you can tweet him at The_hybrid_guy on Twitter. Find his page on Facebook at Certified Auto Consulting. Read more of Peter's stories at Toyota news coverage on Torque News. Search Toyota Prius Torque News for more in depth Prius coverage from our reporters.