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.
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.
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.
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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.