Buy new or keep my 2004?

Keep your 2004!! It's paid off, right? My 2005 is pushing 200k miles and other than fluid flushes at 90k and 160k, I've had not too much trouble. Front brakes replaced at 148k and rear brakes at 164k miles. Also, I replaced the axle seal and water pump at 164k. At 175k, I replaced the 12V battery. All of these normal maintenance issues at the dealer cost me a total of about $1500. So, I say that if you can drive it for another 100k miles and spend about the same amount that I did ($1500) in that time span, that's better than paying $24,000 for a new Prius. Do you agree? Factor in a set of good tires at $500 and your golden! Keep the 2004!!

You may want to have them check your muffler bearings the next time you take it in though...I hear they can wear out after 6 years or so ....Good Luck!

 

Keep it!!
My 06 Taxi has 285,000klm on at present,on the advice of Patrick and a few others i did some Preventative Maintenance at the 100,000 mile [160,000klm] mark,

Part Part No
Engine Water pump 1610029156
Inverter Coolant Pump G902047030
Thermostat 9091603093
Thermostat Gasket 1632562010
Serpentine Belt 9091602570
PCV Valve 1220421011
Radiator Hoses {1657121060}
{1657221060}

Parts are not that expensive and even if you have to have it done by a Toyota Dealer it shouldn't be that expensive,i bought the parts cheaper in the UK and had my local Toyota dealer fit them,€190 for labour,they also supplied the coolant in that price,

Regards.

 

I just talked to one of our customers today who has a 2004 with 212,000 mi. on it. she just had her second big maintaince done on it. It still has the original brakes and battery and she said it still runs and feels like new.

 

You can buy a whole lot of repairs for $24,000.

 

Yeah. So what? Those are still much cheaper than replacing the whole car. Without something more specific, I'd keep it.

While I don't yet have firsthand experience with old Priuii, my new one replaced an ancient Honda with 235k miles. It didn't start consuming significant repair money until 170k, but even after that, its per-mile repair cost remained significantly cheaper than depreciation on any replacement. It was replaced for its terribly outdated safety, not its operating and repair cost. Two less old Japanese-label cars remain in the household at 150k and 180k, and both are consuming much less repair money than the depreciation on anything new.

 

If you haven't done it yet, refresh the ATF (Type WS Tranny fluid about $100 at my Dealer). You should do this at 60,000 mile intervals according to some lab testing on some Prii. My 2004 is at 172,000 miles and just normal maintenance so far (still using the original brakes, batteries and MFD). I did the big coolant system job described above at 150,000 miles, it did cost about $1000.

JeffD

 

I don't think your original question was ill-informed.

I would agree that at 91K miles your car likely needs new front struts and rear shocks, esp given the signs of age that you related. However if you depend upon your local Toyota dealer for service the price may approach $2K. Let's add $400 for a set of tires. That will use up 60% of the $4K budget you've allocated above.

The 100K mile service at the dealer may cost several hundred $s, with engine and inverter coolant changes. The car will need new spark plugs at 120K miles; the serpentine drive belt and PCV valve also should be replaced at that time if not done earlier at the 100K mile service.

So, without trying too hard I can see that at least $3K of your maintenance & repair budget could be used up without even counting upon some obscure failure happening: air conditioner compressor, MFD, inverter, etc. If any of those happen then your budget will be easily exceeded.

 

You can maintain it for another 100k miles for the amount you'll be donating to uncle sam if you bought a new car.

 

And if you buy a 2010 Prius you'll still have squeaks and rattles..maybe not shocks and so on...so i'd wait until Toyota sort out all those little annoying things,save the money towards a bigger deposit and buy a "perfect" Prius!!

 

I am totally happy with my '04. I don't make any payments, and the maintenance is low. If you are happy with it, I say keep it.

 

Next Saturday it will be one year since I bought my '04 Prius. It had 48500 miles on it then and I've put another 14500 on since. Major repairs I've had done on it:

Resurfaced the front rotors at 60k miles because they were rusted and pitted...from lack of use (and the salt they use here in MI).

I also had to replace a flat tire...not repairable.

I plan on keeping it for 8-10 years or > 250K miles

 

After reading this thread I found it extremely enlightening. I'm at 120k and am amazed at how well my Prius is aging. I live in the outer Boros close to Long Island. I'm planning to go to Westbury Toyota for the 120k service. Anyone have and experience with this shop?

 

I'd say keep your 2004.
Only because maybe in a few years, Toyota might spruce the Prius up some more.
If any of you noticed, the 04'-05' Prius'es had a cheaper dash that chipped and scratched extremely easily and the fit in finish was great, just not the BEST. In the 06'-09' Prius'es, they made the front grill chrome, they added the back-up camera, a higher resolution screen, and leather seats. My point is, wait a few years and see what Toyota does with the Gen.III.

 

The answer is...it depends...

From a purely financial standpoint, the cheapest thing to do is undoubtedly to drive it until it falls apart. Its a reliable car and can easily last you until 200,000 miles. Sure you may have some repairs...maybe even expensive ones but it will still be cheaper to keep the '04.

BUT, lets say you were going to keep it until 120,000 miles and trade it then. You may be better off to trade it in now then wait until then. Used car values take a steep drop off at 100k miles, its a psychological barrier for buyers, and it gets worse at 150,000 miles. There is an extremely limited buyer pool for any vehicle with over 150,000 miles. Another reason for this is a lot of banks won't lend money on a car with 100k miles or more, and almost none will on a car with 150k or more, making them a cash purchase for a buyer. Less financing options + less value.

If you can get $2,500 more for it today because it has less than 100k miles than you can when it has 120k miles, that might be a good reason to make a swap now.

Plus, if you would be financing rates are really low right now, you can get 1.9% on the Prius...will you be able to do that in a few years? We don't know. You can also get a great deal on a new Prius right now...will you be able to do that in a few years? We don't know the answer to that either.

Food for thought.

 

i am seriously considering trading in my daughter's 04 for a 10 and giving her my 08. i notice a big difference in noise and vibration and harshness when i drive hers with 75,000 miles, and mine with 20,000. but she also got hit by a deer which required a major rebuild and i wonder if it might lead to future problems. i'd rather she drive something we're more comfortible with reliability. you may not have any problems, or you may find yourself on the side of the road one day. one thing i havn't seen mentioned is the sheer joy of driving a new car? and like SW030 says, now is the time to buy!

 

One difference probably is that the 2004 needs new front struts and rear shocks, and perhaps new tires (if old tires have flat spots) as well.

But it sounds like you just want an excuse to buy a new car, so go for it...

 

right on both counts!