Prius Prime cost

If you are willing to deal with NY/NJ area dealers you will get $5000 cash back incentive on 2017 model PRIME. That's $5000 off from MSRP. It is good till 6/4, but it may continue until they deplete all the 2017 stock. This is regional offer which is not available in other area, and cash back amount varies depending on region. There are quite few people in PriusChat who have travelled across the country to take an advantage of this regional offer. I'm sure they will chime in with advice and recommendations.

 

welcome!

the federal tax credit is really very simple. if you pay federal taxes, then you will get up to $4,500. dollars back from the irs depending on how much you pay.
all you have to do is look at last years tax returns to see how much you paid, and if this year is similar, you have a good idea.
if you are not capable of doing that, you either need total more interest in your tax returns, or talk to the person who does.

as for your other questions, you need to call around to as many dealers as possible, or email them and ask for quotes.
you can find their available inventory on line,.

i'm not clear what you are saying about leasing. it is usually a downpayment and a monthly payment, with a limited amount of miles you can drive per year without a penalty.
all the best!

 

Just to make sure this is clear, the $4500 tax credit, stated another way, returns to you the first $4500 you pay in federal tax, at the end of the tax year that you made the purchase. So if my salary was $125,000 for the year, and I paid $14,000 in federal tax through payroll deduction throughout the year, and after doing my taxes I owe an additional $1,000...I then factor in the $4500 tax credit for buying the Prime, so instead of owing $1,000, I now get a refund of $3,500.

I am in Greensboro, NC, and back in April I negotiated an awesome deal with Jim Coleman Toyota in Bethesda Maryland. I sent them detailed pictures of my trade along with the payoff and VIN number. We negotiated via texting and phone....they gave me roughly $3000 off the sticker, and a $3000 Toyota rebate. I took a day off from work, drove up there (6.5 hours one way), and made the deal as negotiated (no tricks) and then drove the Prime back home. I think I was at the dealership about 1.5 hours before getting back on the road to drive home. Call them and tell them Steve Bowie sent you! While the dealers in NY do have a $5000 rebate, I found that they will not come off the sticker very much (in my experience). Plus, Bethesda was a much shorter drive. Good luck!

 

yes, that is incorrect on the lease. you need another dealer or fence person. most dealer websites have leasing info.
take your new salary and look at the new 2018 tax reform tables. since you are only working a partial year, it will take some detailed figuring to see about how much federal tax you will pay.

 

Well, 7.5 hours is only an hour more than the trip we made—and it’s well worth the huge savings. And you are planning to be in DC? This is a no brainer LOL. Send them an email or call—I think that they still have 5 Blue Advanced (a must IMO) 2017s on the lot. Let them know when you will be there and with a $500 deposit they will hold the car.

 

I have a few questions so we can better help you:
1. Are you single or married? If married, you can use household income to qualify. If you're single and will have less than half of your yearly salary, you probably won't qualify for the whole $4502 credit. I used TaxAct's 2018 estimates for the following, it may or may not be right, but it should be close:
2018 income 2018 tax
$53,000 $4660
$40,000 $2870
$35,000 $2270
$30,000 $1670
$25,000 $1070
$20,000 $500

Since you're going to DC with your dad, look for a 2017 Prime in the DC area. Right now they have $3000 cash plus $750 college grad rebate. If you stretch out to NJ/NY it's $5000 cash plus $750 grad rebate. If your dad qualifies for the whole rebate, ask if he could buy it for you and then gift it to you. Check with your state's law on car gifting first.

2. What is the terms of the lease, how much down, how many miles annually?

3. Do you really need the Advanced or will the Premium trim do?

 

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Your Dad is correct about the depreciation. But with $6k off the sticker, and a tax credit coming, the depreciation is mitigated. But here’s the thing, for me, the depreciation does not matter because I am ALL IN with keeping the Prime until it literally dies. Hopefully that’s over 12 years and 250k miles. Depreciation only really matters if you plan to trade in the next few years or so.

 

Dad’s are normally correct—and they always have their daughter’s best interest at heart! I’m 54 years old—when I was in my 20s, there is no way I would keep a car that long LOL. But if you are that type who can do it, and you will have to convince your Dad LOL, then go for the 2017–and get the Advanced.