Dear Alex,
My Toyota Yaris hybrid is nearing the end of its 42-month financing period. I could trade it in for a new Yaris at a net cost of about £1,000. I would not normally do this, but it seems that, with a limited battery life of maybe 10 years and the likely high cost of replacement, the value of the car as it gets older will depreciate rapidly. Therefore, in effect gaining three years of life may be worthwhile. However, I will get a car fitted with the new speed-limit warning system, which I definitely don’t want. What should I do?
– JR
Dear JR,
An ageing hybrid battery isn’t as much of a concern as you might think. Just look at the number of old Toyota Priuses still humming around; some are approaching 20 years old and still going strong.
It’s true that hybrid batteries age, but they rarely give up the ghost completely; instead, they tend to simply decline in capacity, so they’re able to hold less charge as they get older.
The way a hybrid uses its battery means you’d rarely notice the effects of this, however, as the battery is effectively used as storage for wasted energy. Granted, you might be able to store a little less of that energy, but the only effect of this would be a slight increase in fuel consumption, as the petrol engine has to pick up the slack.
As a result, age isn’t really hampering the values of hybrids in the same way as it is for electric cars; indeed, used hybrid values are holding up well as buyers move away from diesels and electric cars and seek alternatives – a niche into which a hybrid fits rather well.
Realistically, then, you’ve nothing to fear from keeping your Yaris for longer, if that’s your preference; it should still be in good shape and holding its value well after 10 years. And doing so would, of course, mean you don’t have to deal with the oppressive (and often mistaken) speed-limit warning systems that are now mandatory in all new cars.
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