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Used Hybrid Car Prices Fall As Gas Cost Remains Stable

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2004 Toyota Prius

2004 Toyota Prius

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In the market for a used hybrid? Now could be the time to start looking, as prices are steadily falling.

It's all down to stable gas prices, reports Wards Auto, which have seen used hybrid values fall faster than any other segment--down a full 9 percent from January.

Where fuel prices in 2011 and 2012 spiked leading to a rise in the value of hybrid vehicles, the slow, steady increase in gas prices at the moment mean consumers aren't panic-buying hybrids just yet.

From a three-year high at the start of 2013, Kelley Blue Book's senior market analyst Alec Gutierrez expects a general fall in vehicle values until the end of the year, with a 3-5 percent overall drop.

A few segments--pickup trucks and sports cars in particular--have actually risen in value. Sports cars and coupes are very much affected by seasonal changes however--everybody wants something eye-catching for the summer...

Overall used vehicle prices are still higher than they were a few years ago, when supply was limited due to low new vehicle sales in 2008-2009--a symptom of the global economic crisis. An increase in the supply of late-model vehicles thanks to recovering sales is putting pressure on the prices of older used cars, leading to lower values.

While low hybrid values aren't much consolation if you're looking to sell one right now, it's great if you're in the market.

If you need some inspiration, why not check our our list of the Five Best Used Green Cars To Buy? Four of the five are hybrids, so there should be something for everyone.

You could also read our 2001-2003 Toyota Prius used car guide, if your budget is a little lower.

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Comments (4)
  1. "In the market for a used hybrid? Now could be the time to start looking, as prices are steadily falling."

    Welcome to the new reality of buying a brand new hybrid: it will now depreciate so fast, that it might lose half of its value in just a few years, making a hybrid a poor investment. Welcome, welcome to the new reality!
     
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  2. It really all depends (well, mostly) on the price of fuel. Fuel costs are somewhat stable right now...but that will not always be the case. I would rather "gamble" with buying a hybrid and have the price of gas go down, than gamble with an Escalade and the price of gas go up. If I were a betting man, I would bet that gas will go up rather than down. Either way, I would still prefer the hybrid (or EV) over a normal ICE vehicle as the fluctuation in fuel prices is less of an issue.
     
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  3. The only catch is, the diesel market penetration is constantly gaining momentum, and those vehicles retain their value because diesel engines are near-indestructible and the vehicles eco-friendly and fuel efficient, with plenty of power and lots of torque. They compete directly with hybrids and win.
     
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  4. Used? I've seen Prius c's for $17,800 new. Something something low price of gas somethingsomething not enough marketing somethingsomething people who want hybrids want more cargo space something.
     
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