A few years ago Joe Abutel bought a Hummer H1, hoping the gas-guzzling behemoth would impress the ladies.
But as prices at the pump inch toward $5 a gallon, he’s been getting fewer dates than dirty looks. So last week, he decided to go to the opposite extreme and bought a Toyota Prius hybrid.
“I never thought it would be cool to pull up sitting in a Prius,” said Abutel, 37, who owns 11th Avenue Auto repair. “It reminds me of when I was a kid and my parents had a Dodge Dart – I made them drop me off around the block from school.”
He had just one problem – it’s almost impossible to buy a new Prius. The waiting list ranges from two to four months at city dealerships.
High gas prices have driven demand for hybrids so high, drivers like Abutel are willing to pay more for a used Prius than a new one they have to wait for.
Abutel found a 2007 Prius on eBay with 28,300 miles and a dent on the hood. He paid $23,995 – $2,500 more than the sticker price for a brand-new one.
“This may be the only car that appreciates after you drive it off the lot,” said Alan Machado, a salesman at Loman Ford in Woodbridge, NJ, who set the starting bid for Abutel’s car at $15,000.
“Prius owners can definitely make a lot of money if they are willing to get rid of their cars right now.
“But with gas over $4, why would you want to get rid of it?”
Until a year or two from now, when manufacturing capacity is increased, the market for used Priuses may only grow.
“Normally the standard in the industry is to have an inventory of 60 days’ supply,” said Toyota spokesman Wade Hoyt. “For the Prius our supply can be measured in hours, not days. As soon as we unload them off the truck, they’re gone.”
Hybrids still make up a tiny fraction of cars on the road, but in the tri-state region sales are up 11 percent this year for the Prius and 27.2 percent for the Camry hybrid, Hoyt said.
One Long Island dealer, Mark Feuer of Advantage Toyota in Lynbrook, has a waiting list several pages long.
“We can get you a car in six to eight weeks,” he said. “Since gas prices aren’t coming down, this is the next best thing.”
At Star Toyota in Queens, sales manager Steve Boccia says customers are crestfallen when told of the waiting lists.
“People have it set in their minds that they want a hybrid.”