Gen 5 Prius Prime PHEV goes live starting at $32,350

Not bad, but no tax credit?

 

Add delivery fee, plus almost mandatory floor mats and dealer document fee, the lowest price is going to be $35k on SE model before tax. That's if I can find one without mark up.

Nope, without rebate and tax credit, it is out of my reach.

 

There is.

 

Yeah, if there are any leasing programs for this car. I didn't see any for Gen4 PP. I don't think there will be any for Gen5 PP.

Well, monthly payment has nothing to do with the total cost of the car. You can always lower any monthly payment with a new loan term. Unless the car's final total purchase price is less than $25K, like it was for me on the last PP Ltd, it makes no sense to get this Gen5 PP. The performance and sporty looks of the car have no value to me. Besides, I don't need a car right now. I may need it by the summertime if my work situation changes, but until I know for sure I need a car, I will wait. Hopefully, I will see more affordable new BEVs and/or better deals on used BEVs or PHEVs. If all fails, and I need a daily driver, I can always get a Corolla or Civic at around $25K.

 

Yeah, if I have to make a monthly budget around my car payment, then I would not be buying a new car. Most dealer sales guys will first ask a potential buyer what monthly payment he/she wants... I always laugh at the question. Paying lower monthly payments for a longer term only makes banks happy. It is always the final sales price that is the most important.

 

i'd say the odds are very low, but i'm not ruling itout. i certainlycan't make a decision until i can test drive one, compare the hatch space, rear seats, drivers headroom and etc.
i certainly won't be putting my name on a list, but if they ever show up in quantity, i will kick the tires.
looking at everything we know so far, there's some things to like, and some not.

 

Third party leases are possible/

 

you're probably right. i'm more likely to get an ev or rav4 prime. i really wanted this gen 5 prime to be an improvement on the gen 4 shortcoming that kept me from buying one, but it may not be

 

It depends. If a 0% or very low APR loan is available, taking a loan is a better deal. And in most cases, a dealer likes a customer who takes a loan more than someone who pays cash. It has been more of my advantage for negotiating the better term by letting them work on the loan term even if I can pay cash. So, I never tell them I can pay cash. I have had ~$25K set aside for my own car fund since I purchased Gen3 back in 2015. This has been always a hard max spending limit on a car. Fortunately, for the last 5 new cars I purchased, Gen3, 3xPPs, and Escape PHEV, I did not have to add any new money to this fund. PPs were sold for more than I paid. So, in essence, I have had 5 new cars in succession during the last 8 years for a net cost of ~$25k.

 

I did not see any Gen4 leasing program being offered. Period. That means a manufacturing leasing program or a third-party program. That does not mean it did not exist or will not be available for a Gen5 PP. But my prediction is that it is not likely there will any good leasing deals on this car.

 

I don't know about you. But doing a simple calculation on a $35K loan for 6 years at a 4% rate. The interest payment comes to be $4,425. That's 11% of the total payment that goes to the bank. I don't consider that to be negligible.


As for a home mortgage, I had three different loans in the last 18 years. Each time I refinanced, I did it with a shorter term with a lower monthly payment so that I am not going to pay longer years even with a lower interest. The original 30-year mortgage was a variable rate. Refied to 25-year fixed when the rate started to go up. Then when the rate went down to a historic low I refied again to 15 super low fixed rate, keeping the pay off year the same.