May 18, 2006; Posted: 4:50 p.m. EDT (2050 GMT)
NEW YORK (CNNMoney.com) – In an atmosphere of aerial ammunition prices, the bazaar for acclimated cars with aerial ammunition breadth has gotten red hot.
Gas prices can account greater fluctuations in used-car prices than in new cars for two reasons: used-car prices are added adjustable than new-car prices and used-car shoppers about accept lower incomes than new-car shoppers.
In one acute example, acclimated Toyota Priuses are in such appeal that they lose about no amount in the aboriginal year or two of affairs alike afterwards actuality apprenticed tens of bags of miles.
For example, a 2005 Toyota Prius that, back new, had a sticker amount of $21,515 could now advertise for $25,970, alike with 20,000 afar on the odometer, according to abstracts from Kelley Blue Book. Since Toyota dealers usually allegation a few thousand dollars over sticker for new Priuses, the client in this archetype apparently wouldn’t accept fabricated a profit, but about so.
Honda Civic Hybrids are additionally antic near-immovable resale values.
The Prius is an aberrant case, though, warned Forrest Sherman, a appraisement yst with Kelley Blue Book.
Those advantageous top dollar for a acclimated Prius now may see prices bead later.
“It will happen,” said Sherman. “There are alone so abounding bodies that will acquisition (a acclimated Prius) that adorable and will pay that abundant for it”
It isn’t all aloof Beanie Baby-style insanity, though. There are some complete axiological affidavit for the aerial prices actuality paid for amalgam cars like the Prius and Civic Amalgam in the used-car market.
First, prices for all kinds of acclimated cartage are almost aerial now because the accumulation of acclimated cars is low. A few years ago, leasing wasn’t absolute popular. Today, that agency beneath cars actuality traded in at the end of charter contracts, a above antecedent of well-maintained acclimated cars.
Second, prices for acclimated bunched cars, including non-hybrids, are up because of aerial gas prices. It isn’t aloof that bodies are affairs them to save fuel, but that added buyers are because these cars and advertent how acceptable they’ve absolutely become, said Raj Sundaram, admiral of Automotive Charter Guide, a aggregation that advance acclimated car ethics for the leasing industry.
“Resale ethics on mid-compact cars are jumping absolutely a bit,” said Sundaram.
Mid-compacts accommodate the Honda Civic, Toyota Corolla and Ford Focus. Prices for acclimated bunched cars, a class that includes mid-compacts, accept climbed about 20 percent in the accomplished year, according to abstracts from Edmunds.com.
A 2005 Honda Civic EX with 20,000 afar on it is account $55 added than its aboriginal $18,280 price, according to Kelley Blue Book.
In the case of the Prius, the car is about absurd to acquisition on dealer’s new car lots. Customers about accept to delay months to get one. And in some ways, a acclimated Prius offers a bigger value, said James Bell, administrator of IntelliChoice and a Prius owner.
Shoppers trolling lists of acclimated Priuses on Web sites like ebayMotors.com, for example, are attractive at absolute cars that are accessible immediately. They accept choices of colors and advantage bales whereas, if they were arcade for a new car, they ability accept to booty whatever is accessible or delay until they can get what they want.
So, a few thousand afar on the odometer may be a baby amount to pay, said Bell.
Bell has already bought a additional Prius and intends to account his two-year-old one for auction at $25,000, aloof a few thousand beneath than he paid for it. He could ask for more.
“I appetite a quick sale,” he said.
While these prices are a benefaction for sellers, they could prove to be a apprehension for buyers. The factors that are currently captivation up prices for acclimated amalgam cars could change quickly, said Sundaram.
Toyota and added companies are accretion amalgam car production. That will drive bottomward the amount of new hybrids and acclimated ones. Also, amalgam technology will acceptable advance in advancing years, said Sundaram, authoritative today’s Prius assume like a Walkman compared to tomorrow’s iPod.
Also in Autos:
Shelby Mustangs: $20,000 over sticker
Best cars with abundant gas mileage
GM pulls bung on aboriginal Hummer
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