Your 2010 Order and the Worsening Economy

I'm certainly less well off than you. I had saved enough to pay cash for the difference in my trade in, for a new 2010, but now I'm not so sure that my job is secure. My boss says it is, but I'm not convinced. I think of the $$$ in terms of mortgage payments. I've decided to wait until summer to make a firm decision on buying the 2010 or holding out for the 2011 or 2012 with the new battery. My 2005 only has 44k miles on it. I so want that sun roof with solar panels.

 

I'm hoping to get another job before I'm forced to sell my 07 Prius. Fortunately, its still worth more than I owe on it.

 

It isn't just you. I went from semi-retired (i.e. working when I want, about half the time) to unemployed (this is the half I should be working, but got caught among the 600,000/month laid off), with not enough hours to qualify for unemployment. The 401ks are down by an unmentionable amount.

But the house was paid off long ago, because of fear of 'future' recession several economic cycles ago. The "new" car was paid off before the last century was out, allowing the "old" car (1986) replacement fund to fill up about five years ago. Though it still runs well, its safety is so far behind modern standards it is now scary.

I've been trying to cut resource consumption for several years. Water use was slashed. Home energy has been harder to cut, but a new high efficiency heat pump is helping more than previous improvements. Hypermiling and more biking have incrementally cut transportation energy use, but a 2010 Insight/Prius would slash it. With car prices held down by lack of buyers and the economy needing a stimulus, this seems like the best time to be buying.

 

well, i am in a position where the need to get the Pri is not dire. the Zenn still works for the commuting. my 06 is not worn out by any means.

so looking at several financing options. i had already planned on a purchase (was hoping for highway capable EV with 100 mile range) but in CD that mature in july 2010.

so, either i will get the 2010, finance it until next year. then pay it off when CD matures and sell the 06 (have family member willing to buy but they can only make payments which is ok. there is no trust issues here) and then take extra from CD to get EV which hopefully will be better options available by then.

or just keep 06 and wait until next year and get 2011 plug in which will work, but rather get a better EV option.

now, with the Green Auto option of a converted RAV 4 EV, that complicates matters a bit, but that is the EV i have wanted. granted, not looking for an SUV, but the additional space would be pretty nice to have and its 100% EV. but the cost means i would have to wait until next year and still have to come up with about $10,000 more

as far as employment goes. i never feel secure in any job. having had to change careers a few times before, i never feel like i have a future doing anything. so only time will tell

only one thing to add.

hard times means great bargains. hoefully, with a possible reduction in price of the 2010 with the PCD discount, it will be a deal just too good to pass up

 

Hill, we are in the exact same boat. We can totally afford it but are worried about the economy and wondering if we shouldn't hold some cash back in case I lose my job or need to help out family.

Maybe it has something to do with spending out time in the Flathead

G

 

ok, now you are getting carried away. you starting to sound like all the neighsayers who think that we can fix our financial situation without spending any money.

well, that aint gonna happen. our underlying financial issues are greatly aggravated by the fact that we are held hostage by foreign oil interests. what you have done is to help us escape that debt. i applaud your commitment. do not regret it, you did the right thing.

now, granted, being on the bleeding edge of any technology can be tough. but you will help others to see the validity of the choice.

 

Everyone wants their neighbor to start spending more money, but people are looking out for their own financial security, and rightly so. Our leaders may not have the answers, and they may be making things even worse. People talk about saving for a rainy day, but maybe shoring up for the flood might be more appropriate.

More power to all those who have the means or take the risk to venture out and plunk down $30k on a new car. I'm going to wait and reassess this fall. We'll see what deals are out there. I'm feeling pretty confident that even the Hot New Prius will be selling below MSRP this year. Glad I didn't pre-order.

 

Mirak, I agree. Those who made money during the depression had money to begin with. Those who had debt lost everything.... of course if we end up with massive inflation those with money in the bank will be the losers so flip a coin I guess. Ultimately too much worry doesn't help anything and if it isn't going to cost me too much to upgrade I will do it and consider it my part to help out the economy. Thats what I tell myself You can all thank me when everything turns around hehe

G

 

Here a good rule, if in doubt, don't do it.