Don't know if this is news or old - Which cars hold their value the best? According to Consumer Reports' depreciation ratings, several affordably priced models—such as the Toyota Prius hybrid, Mini Cooper, and youth-oriented Scion models—hold their value better than higher-priced sports and luxury models. And while all of the top 10 models have either Japanese or European nameplates, nine of the bottom 10 are domestic models. Contributing to their high depreciation is the fact that many are older models, commonly used by fleets and rental companies, and often heavily discounted. Below are the 10 models that are rated best and worst by Consumer Reports in depreciation. They are calculated based on the difference between the MSRP of a 2004 model when new and its current retail value. The average depreciation for all models is about 45 percent over the first three years. All of the top 10, however, are much better than average, while all of the bottom 10 are much worse than average. Prices are Manufacturer Suggested Retail Prices, rounded to the nearest $500. Top 10 1. Toyota Prius Ongoing demand for this thrifty gas/electric hybrid and excellent reliability give the Prius the best depreciation rating among all currently sold models. In addition, many owners are hanging onto them, so good luck trying to find a used Prius. $22,000.
i can almost totally agree with the article. i totaled my 2004 pkg #1 Prius which cost just over $22,000 out the door. drove it 25 months. the other guys insurance company paid me a fair market value of $23,509.80 for it. so to say they "depreciate" well is not very accurate.
I would have to caution the Canadian members that this does not hold true in Canada. For example, my '04 with about 69,000km on it, new price of $35,000 Cdn ("B" package: side and head curtain airbags, VSC, JBL), is worth about $18,000-$19,500 in trade. This is about average for Canadian cars. It doesn't help matters that Toyota Canada has way overpriced the Prius compared to what they sell for south of the border.
I was hit by a careless and reckless, 18-year old, unlicensed, uninsured, unseatbelted, inexperienced driver on 22 October. My 2005 Prius was totaled (I walked away uninjured). Liberty Mutual Insurance was on the scene the very next morning, measured all the skid marks and confirmed the California Highway Patrol observations and measurements - I was doing everything correct. I was at 66 mph in the No. 2 lane. The other driver was doing 85-90 mph and deliberately turned into me. The 2005 Prius (purchased new in October 2004) was at just under 30k miles. Every fuel-up was documented on a spreadsheet. Liberty Mutual paid me $23.5k which included the value of the vehicle, calculated sales tax and waived a $1k deductible. They continue to prepare to pay all medical bills. This is based on an uninsured driver causing the accident with no reflection on me and no subsequent premium penalty in future years. Bottom line: the 2005 Prius, even with 30k miles and two years of use, held its full value.
