The 2001 Toyota Prius was the prototypical hybrid car in the American market. Despite many radical, then-new technologies, the Prius 2001 has held up as a reliable used car. Even as the 2011 Prius rolls out, the original remains a solid used car.
Positives
For the most part, the 2001 Prius holds up well. Very few problems cropped up with this model despite being the car's first model year. The car consistently received high marks from Edmunds.com and Consumer Reports, both as a new and used car. Additionally, a 2001 Prius sells for around $10,000. This is roughly half the price of the latest model. This represents both a solid savings and a good indicator that the Prius holds value.
Concerns
Two main reliability concerns exist with a 2001 Prius. First, if anything major goes wrong with the engine, only a Toyota dealership can fix it. Much of the technology in the Prius is unique to the manufacturer. This leaves the buyer dependent on the dealership for major repairs to the engine. The second concern is the battery life. Since the Prius rolled out, concerns have arisen that the battery banks will eventually wear out and require replacement. On the 2001 models, a 100,000-mile warranty exists on the batteries. The newer models doubled the mileage to 200,000 miles, reflecting greater confidence in the technology. However, even in the worst-case scenario, it costs less to buy a used Prius and replace the batteries than it does to purchase a 2010 or 2011 model.
Summary
The Prius represents a quantum leap in environmentally friendly cars. It performs well and retains value. The downside is if anything big does go wrong, it can become costly and require specialized repairs. A consumer must weigh the value of the Prius against the potentially expensive off-chance of major problems.
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