Any recommendations for immediate service? I was going to replace transmission fluid. Anything else I should replace right away? I assumed that a high-mileage young Prius would be better than a low-mileage old Prius. This comes from my knowledge of electrical components. Electric motors age as well as wear out. Capacitors age. Batteries age. A lot of electrical components age because of breakdown of the components over time. Even mechanical parts "age", as rust and corrosion are a contributing factor to a lot of issues with vehicles. While the car parts will be worn, I am reasonably certain that a car used for regular 100+ mile drives will be in better shape than a car used for 10-20 mile drives.
I have to say, over the years I've done both. But I always liked the idea of a newer high mileage used car, as opposed to a lower mileage, older used car. At least you know the vehicle you have now was running well enough, and reliable enough to put all those miles on it, in a short period of time. And I agree with your logic. However, 121K in that short a period of time? I would definitely change all the fluids and want the suspension checked out. I'd treat it like a 121K vehicle as far as initial maintenance...then move forward.
I have service records. Looks like they went back to the Toyota dealership for all of their oil changes. I didn't see any fluid changes on carfax, but Toyota might have more detailed records. Fluids: Sounds good. I hadn't been thinking about brake fluid and such Suspension: Check my automotive knowledge, but even if the suspension is shot it isn't going to immediately degrade the life of the car, right?
If the transaxle fluid IS original, it'd be real interesting to hear what it looks like. I'd stick with TOYOTA ATF-WS for new fluid, if there's any debate.
What month/year was the 11 built? The car could be four years old. 30K miles a year is high but not outrageously so. I've had good luck with my 05, which I bought with 134K miles in Oct 2010. I've put 91K miles on it so far and it still runs great. Original suspension, brakes, HV battery, etc. It's been extremely reliable. Change the coolant in the gas engine and drain and refill the transmission fluid. That's all you should need to do.
Cabin filter Engine filter Engine oil Engine coolant drain and refill PCV valve replacement Spark plugs Inspect brakes and rotors Transmission Fluid (no hurry, though)
The reason I would recommend having the suspension checked as I consider that directly related to vehicle safety. Obviously I would also check your tires for wear.