Prius Prime - official prices paid thread

hopefully, they will turn around again just as fast

 

2022 Prius Prime Limited
Magnetic Gray Metallic

Sale price: $35,284.00
Lic/Reg: $ 358.00
Title: $ 113.00
Filing Fee: $ 150.00
OR Tax: $ 168.92
Corp. Tax: $ 35.43
Rebate: $ -1,500
=================
Total: $34,609.85

Down Payment: $3,500

Financed $31,109.85 over 60 months @ 2.24%

Oregon Clean Vehicle Rebate Program = $1,500
Federal Tax Credit = $4,502

I'll probably need the tax credit to cover some extra income this year and the Oregon $1500 was basically buried in the down payment.

Planning to get Xpel frontal PPF and window tint from an independent shop and ceramic coat it myself.
Also got a Stealth Grey HyperDip kit from DipYourCar to blackout logos and wheels. Should be fun.

 

Only a $1,500 factory rebate in Southern California in December, and there is hardly any Prius Prime inventory!

 

Hey Folks,

I'm the guy that let the dealer talk me into all after market up-sells. I justified it with the 0% interest. So you can use my price in May as a worse case scenario.

Ultimate Toyota Financing
$45600.


Via Prius Chat for Android

~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Graz '21- Midnight Black Metallic Ltd.

5/28/2021

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Graz '05 - Tideland Pearl - Package 6

02/02/2005 - ???

231,776 miles of smiles

Lifetime: ~48.71 MPG Highest Tank: ~57.9 MPG Highest Miles/Tank: ~559

P185/65R-15 Bridgestone Ecopia EP422 SL 42.0/40.0 psi

OPTIMA Yellow-Top 12 Volt ACC Battery

XChanged the Traction Battery at 184K


Limit your funding of international terrorism!

 

Does anyone know of any dealerships in the mid atlantic or new england area that will sell a Prius Prime LE for MSRP?

 

Have you checked on BuyaToyota site? You can plug in any zip code on the top right corner and get local inventories. Right now it is showing 24 PPs in the Greater Boston area. The inventory of 2022 PP has been very low in my area Northern New England dealers, but if there is one in stock, most are sold at MSRP-$1500 Toyota rebate.
BuyaToyota.com

 

The MSRP markups seem to be ranging from $4,000 to $9,000 at the moment. It looks like I will get to keep my beloved 2021 Prius Prime Limited Blue Magnetism instead of trading it in.

 

I checked some of the NY dealers I talked to in October when I bought my Prime and it appears that New Country of Clifton Park, Lia Toyota and Empire all have primes listed online for around MSRP. I bought from New Country and in October at least the out the door price was pretty close to the online price. I paid about 31k out the door for a 2022 XLE. I wasn't in a position to be picky as my daily driver was murder suicided by a deer and they happened to have a prime available to drive home that weekend I called. But online it looks like they have more stock than they did in the fall. Good luck in your search.

 

Is that a CA thing? I am not seeing any "markups" on PP when I do find them. They seem to be willing to sell at MRSP minus rebate (currently $1500). That being said, without knowing what happens to the BBB or the current tax incentive, I am not actively negotiating the price on any new cars yet. Comes next year, if the PP has no more tax incentives, then I have no reason to look for a new PP, but BBB offers a better tax credit on BEVs, I am seriously thinking of switching to one.

 

Yeah, it is brutal here. The best offer was MSRP + a mandatory $2,000 dealer-installed package of a dashcam and PPF at Cabe Toyota in Long Beach, but the car was reserved and already gone. It's typically a $4,000–9,000 markup. Southern California is a huge metropolitan area, and the demand for new cars is crazy here. I will try one or two more dealers, but I don't think there is any hope. There aren't even a half dozen 2022 Prius Prime Limited's in the whole area.

 

Longo Toyota will sell at MSRP - but you have to wait. Could be months.

 

Yeah, they are the best for new-car purchases.

Since they also give you a similar markup on the trade-in, perhaps it is still not a bad deal.

 

Purchased a Silver 21 PP LE w/ door edge guards and all-weather package in July:

29,509 MSRP
5500 rebate from Toyota
No other add-ons.

Price ~24,000 plus tax, doc prep & reg.

With 4,502 tax credit brings the cost down just below $20k.

I was happy to keep it, but on black friday received an offer to get a $50 amazon gift card if I let the dealer appraise my car. OK, worst case I get $50.
Well, they offered me $28,000.

I really wanted to get this deal done before EOY, as BBB is unclear if PHEV vehicles will qualify. It took some real work to find a 22 PP in stock, but today I tracked one down.

22 PP LE, Wind Chill Pearl with door edge guards, all-weather package and (unfortunately) a fast-charge package that I didn’t want. Think it was $70. MSRP is also higher for a “special color.”

30,124 MSRP
1000 Market Adjustment (negotiated down from 4,000)
1500 rebate from Toyota

Price ~29,624 before tax credit, plus tax, doc prep & reg. Minimal tax due to $28k trade in in MA.

Not happy with the adjustment, but with the $28,000 trade in, the $4,502 tax credit and a new program at work offering me $2k I still come out ahead for a car that’s a year newer. I’m OK with that deal.

Even accounting for the short-term capital gains tax I’ll have to pay on the sale of the 21 PP. Remember, you don’t have to pay taxes on the tax credit, but it DOES reduce your cost basis for tax purposes (as does the Toyota rebate, at least in Massachusetts). So, I’ll need to pay short term gains tax for ~$8,000 based on a cost basis of ~$20k for the 21 that I traded in.

 

Right on, that’s the way to do it while we still can.

We’ve done that with three PPs in the past three years… hey, it’s cheaper than buying new wiper blades!

 

There is capital gains tax on vehicle sales?

 

Not specific to vehicle sales, any sales profit that is considered to be income. In theory, if you sell used clothes on eBay for more than what you paid for it, then there is net profit thus has to be reported as income and may incur capital gain tax. The only exception that I know of is the sale of a primary home if it meets IRS-determined criteria.

source: What to know about taxes when you sell a vehicle - Carvana Blog

Selling a Car for a Profit
When you sell a car for more than it is worth, you do have to pay taxes. Selling a car for more than you have invested in it is considered a capital gain. Thus, you have to pay capital gains tax on this transaction.

The amount of capital gains tax you will have to pay may vary depending on numerous variables, especially how much income you have from other sources. You do not have to pay this tax until you file your tax return for the year. See below for more information on how to report a capital gain from selling a car for a profit.
​

more general capital gains tax info
source: 5 Things You Should Know about Capital Gains Tax - TurboTax Tax Tips & Videos

Capital gains aren't just for rich people
Anyone who sells a capital asset should know that capital gains tax may apply. And as the Internal Revenue Service points out, just about everything you own qualifies as a capital asset. That's the case whether you bought it as an investment, such as stocks or property, or for personal use, such as a car or a big-screen TV.​

 

Regarding capital gains, is it really a taxable gain when a car is not sold but traded in a single transaction for a vehicle costing MORE than the appreciated value? I could see a possible concern if it was sold outright or even to a third party (Carvana) not involved in the transaction.

 

Humm, that is an interesting twist. Honestly, I don't know the answer to your question, but I am inclined to think IRS is always looking for a way to tax people. From my rudimentary understanding of the tax code, the capital gain tax, in theory, would apply not only to the sale of the capital asset but also to the exchange of such asset. If it is an even exchange such that the cost basis of the capital asset is equal to the cost of the goods or service you exchanged, then there was no gain. For true "exchange" such as bartering, such cost comparison becomes almost impossible, so most small items will never be reported or questioned by IRS. But for automobile trade-in, there is a specific value of the trade-in vehicle that is specified in the transaction. So it is much easier to track the equivalent money exchanged. If that value is more than the cost basis, then IRS may have legit power to ask for the capital gain tax.

Here is more info on barter dollar:
IRS Cautions: Bartering Transactions Are Taxable Transactions

Any tax expert to chime in here?

 

My answer is “I don’t know,” but an interesting point. Very curious to see if an expert chimes in.

My intuition is that it would be too consumer-friendly to allow the trade-in price to reduce sales tax liability on the new vehicle (in MA, at least) while also not taxing a gain. It’s hard to find answers to this type of question for personal use vehicles.