Owners of the Toyota Prius are devoted and proud, and they enjoy zipping about town in their hybrids. Compared to its competitors, the Prius actually maintains its value better than other hybrid vehicles. Even when compared to vehicles powered by conventional fuel, the Prius depreciation rating is slightly above average, but do Prius owners really care? The Prius is the contemporary equivalent of the iconic emblem of peace, love, and harmony that the VW Beetle was in the 1970s. But before you buy, make sure the batteries are in good condition because replacing them might be costly.
The anticipated depreciation over the following ten years is shown in the figure below. These outcomes apply to cars that travel 12,000 miles annually on average and are in good condition. Additionally, it counts on a new-car selling price of $32,992. Enter the purchase price, anticipated length of ownership, and yearly mileage estimate. We may estimate the Toyota Prius’ anticipated resale value using our depreciation calculator.
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How far can a Toyota Prius travel?
A Toyota Prius owner may anticipate getting between 200,000 and 250,000 miles out of their vehicle with routine maintenance, with some owners exceeding the 300,000-mile milestone and still going strong. The Prius has a well-established history of dependable service for more than two decades as the first mass-produced hybrid vehicle.
What keeps Prius’ value high?
Toyota designed the Prius to serve as a link between hybrid vehicles and hydrogen fuel cells, which they see as the future of vehicular mobility. Although the Mirai is now into generation 2, it has not yet established itself firmly. Toyota, like Elon Musk and Tesla electric cars, has such a strong belief in the technology that it is working hard to make it work.
Toyota has had several outstanding successes despite its shortcomings. The new Toyota Supra may not be referred to as a “genuine” Supra, but it actually is. The majority of people do not realize that Toyota will not take any action unless they are confident that their reputation can be maintained. Toyota is a major player in the automobile industry, thus it would be wrong for it to be anything other than the finest.
Ask those in your immediate vicinity what they think of when the word “hybrid” is used. The Toyota Prius, if not everyone, would answer. This is so because the term “Toyota Prius” is synonymous with it. This indicates that they have had a profound effect on the world. Toyota Prius cracked the secret of creating a highly sought-after vehicle.
Prius is present in almost every nation you can think of; it is a worldwide brand, but it goes farther than that. Other well-liked vehicles using the Toyota Hybrid system include the Highlander, Camry, Rav4, and numerous Lexus models. Toyota created the Prius specifically to be a hybrid, not merely to be a hybrid.
Since it went off the assembly line in 1997, it has been the vehicle that has shaped the future of all automobiles.
The fact that the Prius is a car that just never dies is the fundamental reason why it maintains such high value over time. The best hybrid system in the world is the THS (Toyota Hybrid System). It is a vehicle that other vehicles strive to imitate. The fact that Prius serves as the benchmark for all other hybrids is clear. Prius retains value because even when it is damaged and malfunctioning, people still want to drive it. It will still come back swinging just as violently as before even then.
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Which Toyota has the highest value?
Purchasing a car is one of the biggest expenditures you’ll ever make, so you obviously want to get one that will retain its worth properly. Since Toyota received one of Kelley Blue Book’s two 2018 Best Brand Awards, you can have confidence in its resale value. When sold 36 months after purchase, the 2018 Toyota Tacoma has the best resale value, with an almost astonishing 69.6 percent value. It comes as no surprise that this model has the highest resale value given its versatility and effectiveness. The 4Runner and Tundra also reached the top 10 list because to outstanding resale value, even after 60 months. So, if you’re looking for a car that will hold its value, think about buying one of these three Toyota models.
What drawbacks come with owning a Toyota Prius?
1. Riding Comfort
The 2018 Toyota Prius features a firm ride quality, which is perhaps its major flaw. The tires are undoubtedly made to provide decent mileage rather than to cushion every bump on the road. Even the Prius c hatchback is a little more pleasant than the standard Prius, which can be very bumpy when driving over even the slightest amount of bad road topography.
2. Slow Accumulation
The Prius is not particularly good at accelerating. Although the Prius can accelerate reasonably well compared to other cars in its class, it is designed for fuel efficiency rather than cruising at high speeds. You may need to think about purchasing a totally new vehicle if you want something with a little more oomph.
3. Subpar interior components
The Toyota Prius has this drawback with some of Toyota’s other contemporary models. The inside has the appearance of being made with inferior materials. The cloth upholstery and several of the knobs and buttons appear to be prone to wear and tear with time, even though nothing appears to be about to break at any second.
4. Loud Cabin While Highway Speeds
There is no mistaking it: this car is not silent! When trying to get the Toyota Prius to travel beyond 55 miles per hour on the highway, you will have to put up with a lot of road, wind, and engine noise in addition to its stiff ride quality. The engine frequently complains when the car is pressed to move fast, and the cabin appears to lack the necessary insulation to keep part of the outside noise out.
How it compares to the opposition:
With its 58 mpg fuel efficiency, which is unquestionably best-in-class for this year, the 2018 Hyundai Inoiq Hybrid is a top-tier rival for the Prius. The Ioniq, on the other hand, is less roomy and has a smaller plug-in range.
Despite having a lower fuel economy than previous models, the 2018 Honda Civic Hybrid performs well on highways and in cities. The Civic is quite roomy and has a ton of safety equipment.
Overall, the 2018 Toyota Prius is a roomy, very fuel-efficient vehicle. The Prius is still one of the top hybrid sales performers due to its focus on fuel efficiency, even if it will need to step it up in 2019 to compete with newer hybrid models from other automakers.
Is it expensive to repair a Prius?
Over the course of its first ten years of use, a Toyota Prius will require roughly $4,008 in maintenance and repairs. This is $2,756 less than the industry average for popular hatchback models. Additionally, there is an 11.22 percent probability that a Prius will need a significant repair at that time.
How much does a Prius battery replacement cost?
A new Toyota Prius battery can run you anywhere from $2,200 to $4,100. Remember that even a used Prius battery costs roughly $1,500 when you’re analyzing the pricing.
Which hybrids are still valuable?
The 2021 Toyota RAV4 Hybrid is currently atop our Best Resale Value Award mountain after taking home Best Buy Awards for both the non-hybrid RAV4 and the new RAV4 Prime plug-in hybrid this year alone.
Savings vs. new: $8,079
It’s a wise decision to purchase a certified pre-owned 2019 Toyota Prius, which, on average, will cost $8,079 less than a brand-new 2021 Toyota Prius. That equals a 27 percent savings. You may purchase a car with many of the same features and the same design for three-quarters of the cost of a brand-new Prius while still enjoying all the advantages of Toyota’s CPO program.
Savings vs. new: $9,538
If you want even more of a discount, the typical 2019 Prius used outside of Toyota’s CPO program costs $20,819. Savings of $9,538 compared to new model and $1,448 compared to 2019 Toyota Prius CPO. You must determine whether the savings outweigh the advantages of purchasing a certified pre-owned vehicle.
Are Priuses trustworthy?
The Toyota Prius has a 4.0 out of 5.0 reliability rating, which places it 10th out of 24 midsize automobiles overall. Its great ownership costs are reflected in the $408 average yearly repair cost.
Are hybrid vehicles still worth anything?
According to the study, 2017 hybrid vehicles lost an average of 50.9 percent of their value compared to non-hybrid vehicles, which lost 53.4 percent. The study included model-year 20132017 automobiles with 100,000 miles or more. The study found that the depreciation rates for the identical model’s gas and hybrid variants were considerably dissimilar for model year 2013.
Toyota models outperformed their gas-powered counterparts in Autolist’s analysis of data points for more than 95 million vehicles, exhibiting a very high level of depreciation resistance. There were noticeable differences in depreciation rates between hybrid variants of the Camry sedan and Highlander SUV compared to non-hybrid counterparts.
According to research, the gas version of the 2013 Camry depreciates by 44 percent at 100,000 miles compared to the hybrid model, which depreciates by 61 percent. However, if you jump to model year 2017, it’s negative 50.2 percent for the hybrid and negative 50.7 percent for the gas. Similar to how the 2013 Highlander’s depreciation is negative 36.9 percent for the gas version and minus 45.5 percent for the hybrid, the difference is now minus 29.8 percent for the hybrid and minus 34.9 percent for the gas version in 2017.
The study’s depreciation rates, according to Alex Klein, Vice President of Data Science at Autolist, are based on historical and actual data for the vehicles. The corporation has a forecasted depreciation curve based on that information, which forecasters modify as more data become available and the model gets older.
Why is there a smaller gap now? The advancement of technology, according to Klein, is one factor.
According to Klein, the value proposition of better mpg is further enhanced by the fact that hybrid technology is still improving.
Second, customers’ concerns that the additional technology would somehow be harmful have been allayed now that hybrids have been around longer and exhibit, in many cases, a similar level of reliability.
He continued that it also has to do with the growing appeal of electric and hybrid vehicles. “In my opinion, you cannot ignore how consumers’ attitudes are changing in favor of electrification and cutting-edge technology (e.g., autonomy). People tend to appreciate something more if it feels like future technologyjust look at Tesla.
The hybrid vehicle’s price premium and historically low gas costs make it a difficult case for buyers searching for a financial incentive to go green with a hybrid. But hybrids can end up being the better investment if they are keeping their value better than non-hybrid vehicles.