4 Hybrid Vehicles You Should Only Buy New
Geoff Cudd, consumer advocate and owner of FindTheBestCarPrice.com, thinks that in most cases, buyers shopping for hybrids would be wise to check the current year’s models first.
“Buying them new ensures you benefit from the full manufacturer’s warranty, latest technology advancements and peace of mind knowing the vehicle’s full history,” he said. “Also, new hybrids often come with tax incentives that are not available to second-hand buyers, further enhancing their value proposition when bought new.”
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Even so, some used hybrid models are especially hard to justify buying previously owned.
“In the realm of hybrid vehicles, there are a few models I recommend purchasing new due to their cutting-edge technology, warranty benefits, and the assurance of a vehicle that hasn’t been subjected to wear and tear,” said Cudd.
Read on for four key examples.
Toyota Prius
Cudd’s top choice for buying new and new only is the vehicle that still comes to most people’s minds when they hear the word “hybrid” — the one that started it all, the Toyota Prius.
According to CoPilot, some of the most reliable Prius model years date back to the early 2000s, which is too old for most drivers, especially considering how much batteries have improved in the last 20 years. The other most reliable years are 2019-20, but that poses a different problem.
According to CarScoops, hybrids hold their value better than traditional cars, with the average hybrid losing just 37.4% of its value over five years. Of the entire segment, no hybrid depreciates slower than the Prius, which loses just 27.9% of its value over the same period. [2]
According to Kelley Blue Book (KBB), the national average fair market value of a used 2020 Toyota Prius is $20,962-$27,398. Considering a brand new 2024 model starts at less than $28,000, buying used just doesn’t make sense. [3] [4]
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Chrysler Pacifica Hybrid
The Chrysler Pacifica Hybrid debuted in 2017 as the first hybrid minivan. But it took some time to hit its stride, and many previously owned models are more trouble than they’re worth.
“I would advise against buying a used Chrysler Pacifica Hybrid vehicle,” said Ben Michael, director of auto at Michael & Associates law firm. “While it’s not guaranteed to be a bad deal, there are just some issues you may run into.”
Before the current model arrived, Consumer Reports wrote, “We expect the 2024 Pacifica Hybrid will be much less reliable than the average new car. This prediction is based on data from 2021 and 2022 models.”
The report chronicled a litany of complaints ranging from electronics and charging to transmission, climate control, exhaust and brakes.
But Chrysler seems to have ironed out the wrinkles in the ensuing years. The current model has earned stellar reviews from Car and Driver, U.S. News and World Report, Kelley Blue Book and most other top industry publications.
TopSpeed calls it “criminally underrated.” So if you’re going to buy it, buy it new — and as a bonus, it’s one of the few remaining hybrids that qualifies for the full $7,500 federal tax credit.
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Jeep Wrangler Hybrid
According to iSeeCars, no hybrid SUV holds its value better than the Jeep Wrangler. In fact, the segment’s top two spots go to members of the beloved Wrangler family. The Wrangler Unlimited plug-in hybrid retains 74.8% of its value after five years — 15.3% above the hybrid SUV segment average. The No. 2 Wrangler plug-in hybrid retains 72.3% of its value over five years, or 12.9% above the segment average.
Considering Jeep didn’t even produce a hybrid Wrangler until 2021, the oldest used models haven’t yet had a chance to shed even the modest amount of value they’re expected to lose over five years.
According to KBB, the national average fair market value for a 2021 Wrangler Unlimited is between $34,240 and $38,232. A new 2024 model starts at $50,695 and qualifies for the full $7,500 federal tax credit. That brings the MSRP down to just over $43,000 making a barely depreciated used version a tough sell.
Toyota Tundra Hybrid
The Toyota Tundra Hybrid gets an excellent 9.4 rating from iSeeCars, which also ranks the full-size pickup as the No. 1 hybrid in the segment in terms of resale value. It clings to 70.9% of its original sticker price over five years, more than 11 percentage points more than the No. 2 Ford F-150 Hybrid.
But like the Wrangler, The Tundra dates back only to 2021, so even the oldest previously owned models haven’t yet depreciated enough to make a sensible argument for buying used.
In fact, previously owned inventory is so scant that iSeeCars says you can actually pay more for a used Tundra than for a new one.
Disclaimer: Photos are for representational purposes only.
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This article originally appeared on GOBankingRates.com: 4 Hybrid Vehicles You Should Only Buy New
