I'm kicking around the idea of upgrading from a 2020 Prius XLE to a 2021 Prius Prime Limited. Vroom has offered by $25,300 for me 2020 Prius XLE. I have the opportunity to purchase a 2021 Prime Limited for $32,582 OTD. I live in California and will get the following : $4,500 (Toyota), $900 (California), $2,000 Central California Clean Air Program, $4500 federal tax credit that is $11,900 money, rebate, credit, etc. (The $4,500 + $900 is already factored in the OTD price)
I believe the main differences between the XLE and Limited are cross traffic alert, blind spot monitoring and heads up display. If those, and having a year's fewer miles, are worth ~$800 (after tax credits), then go for it. SM-N981U ?
Perhaps I'm the wrong one (Devil's advocate) to respond, as we went to new PPs three years in a row, thanks to generous trade-in values, rebates, and other incentives. Our first was a Premium, and the next two were Limited (for us the upgrades were well worth it).
I think the biggest difference is that the trade-in is a Prius and the new one is a Prime. With those rebates and the newer safety stuff, I'd do it for sure.
It is sleazy for the dealer to use the federal tax credit as a come-on. Many people aren't able to get the full credit. It is not a refundable credit. If your federal Total Tax for the year is less than the $4502, then you'll only get the credit in the amount of the Total Tax (2020 Form 1040, line 24, for guidance). I do not know how the California tax credit works.
Yeah, PP is the only car I have purchased in my life that made a profit after selling it. Not many other car purchases are considered a good investment.
, Let just hope that the cash back & incentives are also available to future PP. As long as we can break-even to trad-in for newer model, it will be nice to get brand new one yearly
I highly doubt Toyota can keep giving away PP forever, but yeah it would be nice. Of course, it only applies to people living in the region with the deep cashback offer and contingent upon the fed tax credit as well.
Especially this year since they dramatically boosted the child tax credit, which is refundable. That means it's considered first. Mine will be almost $6,000 which will consume all but about $1,500 of my tax liability. In a way it leaves me holding the bag on $3,000 worth of electric vehicle credit I had planned on. Yes, I'm getting those dollars as child tax credits, but I would have received them without buying the car.
My experience is that they come from the dealer in pretty poor shape if you're someone that likes to treat your paint right. They hose them off most days, but they're not using experienced detailers. They "scrub" bird poop off, leaving scratches. They use dirty towels to dry the car, leaving scratches. I usually have to get out the buffer and rubbing compound on cars from the dealership. I hate spending the day doing that and then getting a couple coats of wax on it.
