I'm considering a Prius but...

LOL

just as a data point, my daughter has an '08 with around 100,000 miles. according to kbb, it is worth $6,000. in a private sale. a dealer will charge more, and pricing is all local.

she buys my old prii, but if she were to buy elsewhere, i think she likes yaris.

2004 was a great year. our neighbor has my old one. rock solid at 135k, but who knows what the future will bring?

 

Keep in mind that the Volt can also drive long distances on gas. Though it requires premium, in a pinch you can also use regular if you pull up to a station that doesn't have premium for some reason. Won't be as good mpg as the Prius, as it gets about 37 mpg, but it's definitely a lot quieter and faster on the freeway than my 2014 Prius was.

The Volt is also a hatchback despite the sedan exterior. Granted it doesn't have as much room as the Prius, but for me it was still enough to handle groceries, and I even managed to barely get some 10 ft electrical conduit to fit.

 

you can get a pretty nice volt for $5,000.

 

Scion is another brand of Toyota, I think it's designed to appeal more to a younger demographic. But it's essentially still a Toyota, so should be pretty reliable.

I used cargurus and autotrader a lot when looking for my Volt.

If you're willing to travel, smaller dealerships in more remote areas are usually (though not always!) more willing to give you a better overall deal because they have a smaller customer base than say, a dealership near Los Angeles or New York City, for example.

The Volt I bought was from a dealership that was 3 hours away, but their price was much better than what local dealers had. I also lucked out because the Volt isn't in high demand, due to people misunderstanding the car, the Gen 2 model coming out, and "low" gas prices encouraging sales of trucks and SUV's. Had I of wanted a CR-V, F-150, or Rav4 instead, I probably would've had to pay close to MSRP for it, or the next guy after me probably would.

Fortunately for you, Prius demand is currently down too mostly due to these reasons (except replace "gen 2 Volt" with "gen 4 Prius"), so you can probably snag a pretty good deal on a newer one if you're willing to shop around and don't need a car right this instant.

And again, keep in mind that the older the car, and the more mileage, the more wear & tear will be on it. You might get lucky with a car that was well taken care of by the last owner(s). Or you might get stuck with someone else's problem, where things break every few weeks or months, and ultimately costs you more in repairs than what you paid for the car. Used car dealers can be really shady, and hope that a problem that came with the car doesn't crop up until months after you've bought it.

I'm not saying older used cars are all bad. Just that it really starts being a crapshoot once cars hit 10+ years, 150k+ miles on them. If you can budget or finance for closer to $15k, it should be enough to get a used car that's no more than 5 years old.

 

This one used to be a fleet car. I would not recommend it due to the high mileage.

AutoTrader and Craigslist are the two I would recommend. The main thing to be careful of on those sites is many of the ads are what I call "fly by night" dealers. They make most of their money on financing you and charging documentation fees. If you can walk in there with your own funding and when you start negotiations, tell them you want to negotiate the full price including doc fees, you will be ahead of the game. IMO, the best place to buy from is a private seller.

Here are some general car buying tips from me (full disclosure, most people on here have differing opinions than me but, I've bought many cars in my life and learned some things along the way).

1. Generally, a fully loaded or higher end vehicle is better cared for than a base. This doesn't mean you won't find a base model well cared for but people typically buy base models to drive into the ground
2. Maintenance records of maintenance performed at the dealer is available on the Toyota Owners website (see Daisy's thread)
3. When negotiating, try to negotiate the out the door price to avoid the doc fees
4. Have your own financing
5. Stay away from taxicabs (many Prius are prior taxis)
6. Look for little things such as missing wheel rings, owners manuals, cargo cover, etc. I say this because typically, if one takes care of the small stuff, they likely take care of the big stuff.
7. Nearly every car in your price range will have a dent or a scratch. Try not to be too finicky

Overall, the Prius is a great car and you should be able to find a good one for about $7000. If you put $5000 down and finance $2000, your payments will be miniscule (around $70 a month if financed for 3 years).

Good luck on your endeavor.

 

@Herbalicious

I looked at the 2007 Corolla you linked. IMO, you are on the right track, but the mileage is a little high. If you can find something under 125,000 miles I think you will have better luck.

I too will echo what Ashlem said above concerning used cars. When you get into a car that is ten years old and high mileage (250,000), sometimes it can be a crapshoot at best.

If there is anyway you can budget higher than 5K, your choices will be better.

I have bought both used and new cars in the past. With a new one, you get a full warranty, but as soon as you drive it off the lot it becomes a used car. On the other hand, if you buy a used car with high mileage 125K or more, you risk having problems down the road that could end up costing a lot to repair. If you can find a one owner vehicle that is being sold by the original owner, you may have better luck than buying from a dealer. I am not saying that all used cars are a bad investment. What I am saying is "buyer beware".

Best of luck to you!

 

You say you can't afford a Prius. I say you can if you are driving a leaking 2003 Eclipse.

1. Eclipse gets 20 mpg assuming you have the 4 cyl engine. That's about $100 more per month you spend on gas on top of a Prius. ($2.5 a gallon 1200 miles) More if you have a V6 guzzling premium.

2. Insurance is higher on a convertible coupe. I'm assuming $400 for a Prius and $600 for an Eclipse for 6 months = $33 savings a month.

3. Maintenance is higher on an older car. According to Edmunds.com a 2011 Eclipse (the only year they have data on) will have $6400 in repairs over the next 5 years while a Prius will have $4400. $2000 savings over the next 60 months is $34 a month.

That's $167 savings every month for driving a Prius. Many have reported here that leftover new 2015 Prius can be had for $20k out the door at 0 down and 0% financing. That's $333 a month. Leaving you to pay the remaining $166 a month.

You have $5000 so you can drive a brand new 2015 Prius two for 29 months with that money. And you don't have to pay it all at once due to 0 down payment.

Here's where I will stretch a little to justify the purchase. We can say with high probability that repairs on an 18 year old Eclipse will exceed the value of the car. This means you will revisit buying a used car and if you bought the Prius now, you'd already have a 2.5 year old Prius with $10,000 payments remaining. So start saving now.

I fully admit I am embellishing and ignoring a few things. I forced the math to work. But to be clear, keeping the Eclipse is the best financial move but is risky due to its age in terms of follow on repairs. Buying a used car is not recommended because of the amount you have saved. Buying new will be the most expensive route but like I said, you can afford it.

 

I don't think that '08 was a taxi. The ad says it was part of the Solar City fleet. That alone could be a plus--those types of fleets are (often) pretty judicious about maintenance. It does have quite a few miles on it though--220,000 at last check-in, and it was an auction car (many used cars are now, though).

Craigslist is my favorite car-shopping site. There are some dealers that abuse it, but it also tends to have more private sellers, due to them not needing to pay listing fees.

Here are a few lower-mile examples:

2007 Toyota Prius Hatchback Hybrid White 87k Great MPG! Must See! (2007, 87k miles, $6999)

Possibly around your Mom's area:

2005 Toyota Prius (2005, 96k miles, $6000/offer)

 

Good catch tangle. I just saw the color and assumed taxi. (whoops).

 

Herb,
#1, I would personally not invest in the Mitsubishi. They do not have a great track record for reliability and it gets worse as they age (as do all cars).

My Credit Union (Navy Federal of course) would finance $2000 in a heartbeat esp. if I had 5k down. Even if they won't, borrow the min., then pay off whatever you had to borrow past $2k, finance for 3 years and you'll be so far ahead in payments that $70 a month should carry you thru the term of the loan. There is always a way around everything!!!!!!

There is a risk buying a used car period no matter who you buy from. The key is knowledge and your pursuing that now. The next key is courage to take the step.

I don't recommend the green Prius. Too many miles

The white 2007 posted above is a great deal. Those kind of deals do not last long. I can't tell you how many times I've seen people lose out on good deals only to settle for something less because they over analyzed the buy.

That one is def worth looking at. It appears to be a Prius 2 but, low mileage. 87k miles is just getting started on a Prius.

 

i'm amazed at the high price of cars on the left coast.

 

Herbalicious, he was smart enough to catch you.

The AAA buying service is powered by truecar. I don't know if you're find different prices or dealers at the sites. I use truecar for quick searches because I don't have to log in.

When using the site to buy a used car I presume it sends an email to the seller and provides a certificate for you to print. I haven't tried buying a used car so I don't have any experience.

When buying a new car you configure the vehicle and you'll receive two or three dealer quotes. One will be the lowest price, one will be the closest dealer, and the third will be the highest volume dealer. There will be a the certificate for you to give to the dealer.

Now that you know what you can get through trucar you can negotiate price with other dealers that aren't in the program.

Find and download the sales brochures for model years 2005-2009 so you'll be able to identify the packages based on what is included--or not included.

When looking for a used car you just have have to search everywhere. Maybe a salesman will remember that you are looking for the car that just came in as a trade and will contact you. Don't bet on it.

 

Have you checked the Private Sales section here? Currently there's a PriusChat member who is looking to sell a 2010 Prius III (128k miles) for $7,000. He's on the East Coast...maybe a road trip? (For Sale - 2010 Prius III One Owner, 128k miles | PriusChat)