- Jan 7, 2002
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LOS ANGELES -- Sheila Catoira wanted a fuel-efficient Toyota Prius hybrid so badly, she found a used model online and paid $1,000 more than the car would have cost new.
With the demand for a gas-electric Prius far outstripping supply, some buyers are plunking down a premium for cars that are thousands of miles old. The trade-off: They don't have to wait for months on dealers' waiting lists.
"I figured that if I can get it right away, it was well worth it," said Catoira, 31, a teacher and self-described environmentalist in San Diego.
Other desperate buyers offered more than the $27,000 Catoira paid, but seller Sev MacPete said he refused to fully exploit the frenzy.
"I could have sold it for a lot over list, but I didn't feel like I can do it in good conscience," said MacPete, who happens to be the president of the Prius Club of San Diego. He wanted to sell the 2004 model after only 5,000 miles because he had just paid sticker price for his second Prius, this one fully loaded with options.
Far from sticker shocked, buyers in the past year have paid private sellers and used car dealers $1,000 to $3,000 above the advertised price of a new 2004 or 2005 model, according to Irvine-based Kelley Blue Book, which tracks used car prices. Older Prius models are not seeing the same phenomenon.
"There are some people who want to be the first one on the block to own a Prius and to them, it's worth paying a couple of thousand dollars over sticker," said Jack Nerad, Kelley Blue Book's editorial director.
Rarely do secondhand cars sell for more than their new counterparts, since cars typically lose value almost immediately. The only other instances automotive experts cite are luxury vehicles such as the Ferrari and hot new releases. The Mazda Miata and Mini Cooper, for example, were so popular when they first came out that buyers paid a premium for used models. http://www.detnews.com/2005/autosinsider/0505/08/B03-174590.htm
With the demand for a gas-electric Prius far outstripping supply, some buyers are plunking down a premium for cars that are thousands of miles old. The trade-off: They don't have to wait for months on dealers' waiting lists.
"I figured that if I can get it right away, it was well worth it," said Catoira, 31, a teacher and self-described environmentalist in San Diego.
Other desperate buyers offered more than the $27,000 Catoira paid, but seller Sev MacPete said he refused to fully exploit the frenzy.
"I could have sold it for a lot over list, but I didn't feel like I can do it in good conscience," said MacPete, who happens to be the president of the Prius Club of San Diego. He wanted to sell the 2004 model after only 5,000 miles because he had just paid sticker price for his second Prius, this one fully loaded with options.
Far from sticker shocked, buyers in the past year have paid private sellers and used car dealers $1,000 to $3,000 above the advertised price of a new 2004 or 2005 model, according to Irvine-based Kelley Blue Book, which tracks used car prices. Older Prius models are not seeing the same phenomenon.
"There are some people who want to be the first one on the block to own a Prius and to them, it's worth paying a couple of thousand dollars over sticker," said Jack Nerad, Kelley Blue Book's editorial director.
Rarely do secondhand cars sell for more than their new counterparts, since cars typically lose value almost immediately. The only other instances automotive experts cite are luxury vehicles such as the Ferrari and hot new releases. The Mazda Miata and Mini Cooper, for example, were so popular when they first came out that buyers paid a premium for used models. http://www.detnews.com/2005/autosinsider/0505/08/B03-174590.htm
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