Is the Prius Plug-in right for me?

You had use of the technology a lot longer too. I wasn't even aware of it when I bought my last car. If I had been reading here then, I would have been in your shoes.

 

For markets like Cali it might. We didn't get the huge incentives like the Jersey folks.

 

With a lease.....just add things up to see what your actual cost is before you sign anything.

Add your payments, add any costs, then add the residual(17,280 is the buyout if you choose to buy, if you give it back you will pay a $350 disposition fee....that is on a 36 month BASE model lease) , and dont forget your deposit.

Example: Sept lease program NY state
$650 -- TOY acquisition fee
$6444 -- 36/mt X $179
$1999 -- Deposit

$9093 total payed over 36 mts. (most states you will have to pay TAX on this amount upfront)

now ad $17,280 residual to buy the car at lease end(most states you will pay tax on this at lease end if buying car)

total cost of car before taxes or DMV fees.....$26,373 (Compare this with sticker price of car)



That should be your total cost...now compare that to the cost you can BUY it for. Leases will typically INCLUDE the Govt rebates, where buys you will have to work that out on your tax return.

Each county will have a unique tax, and also each DMV will charge for plates and REG.

 

The only thing I'd add rockerdan is that should be 35 months x $179. The $1999 down includes the first months payment.

I always suggest not putting anything down as there is no benefit and you can potentially lose all that money if the car is wrecked. Should be no problem to structure it either way.

 

Hold on to your hat

 

Let's not give unrealistic expectations. The Prius drives like a refrigerator on wheels, and the PIP drives like a full fridge. If you like the way a Camry or Corolla feels you won't mind it. If you're used to Hondas it will take a readjustment. I say that as someone who doesn't mind driving a Prius - or wouldn't, if the #@!@ things would stop out-gassing noxious fumes from the plastic interior...seriously, after three years my housemate's old Prius was still out-gassing!