2007 Toyota Prius Red Touring Edition Side Shot
Peter Neilson's picture

Why Are Broken Toyota Prius Worth So Much?

I buy broken Toyota Prius cars to learn about and help the community. Lately, they are hard to come by, and here is why.
Advertisement

One of the reasons that I write on Toyota Prius is because I repair them. With 15 years in the automotive industry, I have a robust background in buying, fixing, and selling used cars. I mainly do it to learn then use that knowledge to help the community.

Lately, my search has led me to believe there are not many broken Prius out there, and if there are, people are wanting a premium. I wondered why this could be then it dawned on me. I want to share those reasons and what you can do if you are thinking of selling your Prius that is broken.

Why The Broken Prius Shortage?
I could sum all this up in two words, gas prices, but that would not do it justice. Even though fuel prices are high, it does not fully accredit the cost of broken Prius.

2007 Toyota Prius Touring Edition

2008 Toyota Prius Engine bay

The shortage has to do with fuel prices, yes. People realize that most of the repairs that their Prius needs may not be favorable but still worth the cost compared to driving a higher fuel-consuming vehicle.

The shortage comes from owners who do not want to sell the car because they understand its value now in a gas-thirsty world.

Why Are People Selling Broken Prius' For So Much?
The cost of a broken Prius (or another hybrid) right now is about 2 times what it should be. A dirty Prius with bad batteries that need tires is still selling for nearly $1200 or more.

While that may not seem significant to some, it is. A year ago, I bought a Prius for $600 in rough shape as described above. The people who are selling them must know right now is the time to get a premium for the little car.

The Prius is one of the most reliable and fuel-efficient cars on the road today. Their value holds well even when they are broken.

Conclusion
If there is someone out there who has a Prius that needs repairs, let me know. I am open to buying. If you are looking to sell, I can tell you right now is the time to sell at a premium, and you will probably get what you are asking for.

That is all for today, everyone. I look forward to seeing you in the following article. Needing some insight on oil consumption problems? Check this out.

Check out this wild new battery tech that Tesla has and why it will forever change the auto industry.

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.


Subscribe to Torque News on YouTube.


Follow Torque News on YouTube, Twitter and Facebook.

Comments

Seems like the catalytic converter has value given all of theft of them.
i'm still driving my 2001 prius and in the five years i have owned it i've changred the oil and bought tires, how could you give that up?
Up here in Alaska; the minimum price on a 2004 - 2009 Prius is $4000! Good ones go for $6000. Finding one for under $2000 nearly impossible.
I bought a 2005 brand new in March of 2005. Had the oil changed today (and every 5000ish miles before) at 185,720 miles. I have replaced the main hybrid battery with Green Bean (because you can't beat their price/warranty), but it failed within their awesome warranty. They replaced it, so I am technically on the 3rd hybrid battery. We plan on keeping this car forever. Its iconic body style will make it a classic someday.
If used Priuses ("Prii") are selling for high prices, it's not because sellers are asking too much -- it's because buyers feel they're worth that much.
Like most phenomena, there are several causal reasons . Not mentioned is the fact of supply chain issues for auto manufacturing. New autos are currently in short supply, which drives up demand and therefore prices of used vehicles, including fixer-uppers.
2005 Prius 203k New battery, tires, car converter, brakes, muffler. Inspection Rides great. Red triangle keeps coming on. Now won’t drive, won’t go into ready. For sale . Has been a wonderful car, but lights on dash frighten me too much. Vince Lehighton pa For sale as is.
O8 prius drive battery is going out is it better to replace and sell or sell as is. Where do you find a premium buyer. Thanks
Its called hyperinflation. Thank creepy joe for that
My scrap guy is paying 1800 for prius's just because of the value of the cats