Thinking of trading up to a 2010.

Good luck getting the new Prius at MSRP. You can count on "Stealerships" to price gouge them by at least a few thousand dollars.

 

Go to www.kbb.com. You'll get more if you sell the car yourself. I never trade-in. Trade-in and the service shop are two of the biggest cash cows for the dealerships.

That may depend on where you live, but almost certainly.

 

I'm sure you'll be able to get a new one at MSRP wthe way the economy is now as far as trade in goes good luck, you'll probably only get the trade in value as shown at www.kbb.com, at least that's the way it is around here.

 

do u have craigslist where u are? I sold miine on craigslist in 2 days. It was an 07 base, no frills with 51k for $14,200. Like I saidm, it sold in 2 days. Now I can get the sunroof

 

As for MSRP for a 2010, I think that's doable within a few months if not earlier due to the lousy economy, poor US auto sales and relatively low gas prices.

Not all states allow the trade in value to reduce the amount of sales tax paid by the new car buyer. California is unfortunately one of those states.

I think the OP should sell private party instead of trading in, esp. if his state doesn't allow the offset.

 

In this economy and low gas prices, you won't get much for that 2005 Prius.

If the 2005 is paid for, I would keep it a while longer. I wouldn't go into debt in this poor economy, especially for a depreciating asset.

 

I think you will be better off waiting. Right now the 2009 Prius' are on sale and will be until June 1st. So if you wait a while gas will go up since it's summer and by then the 2010 feeding frenzy should be over.
I'd also agree with those people who suggested that you sell it yourself. I think you'll get more money for it private sale.

 

Their are those that say depreciating assets should be leased and appreciating assets bought. It makes total financial sense but I am still on the fence over this. It's hard for me to get a handle on renting a car long term.

 

It makes sense if you are resolved to having a car payment forever. I try to minimize my monthly expenses and have been out of the habit of car payments for so many years, it would be very difficult to go back to doing that again.

 

Not if you buy the vehicle after the lease contract expires. Either way I think one has to look at the bigger picture with regards to a vehicle lease and crunch the numbers. I have never had a vehicle lease but renting doesn't have to be a bad thing, especially when your payments are less and you have more money in your pocket.

 

It depends to on the "deal". GM is currently offering gobs of cash incentives on a CTS lease but the interest rate is 24% (not an error). My Credit Union is 5% and even GM will sell at 0%. They must not want you to lease.

When I was looking at my Expedition, my salesperson (whom I've known for a while) asked about leasing. I'd never done it. He gave me some interesting numbers. I verified them with a second dealer. At that time they had attractive lease rates. I still got the rebates and X Plan pricing. I went home and calculated and it was "cheaper" for me to lease the vehicle for two years and then purchase it than it was to simply purchase it for 5 years. The payoff abter two years on a purchase far exceeded the residual. I got the best of both worlds as I can really look at gas prices this fall and walk away from it if I want rather than being upside down by $5K if I decided to trade it in.

The way it is working out I plan to probably turn it in as I purchased a HH for normal light towing and to use as my utility vehicle (25mpg instead of 14.5mpg). Now I am getting a 2010 prius to use as the every day driver (25,000+ miles per year). I still want a third vehicle and like the size and utility of the Expedition, but if I keep it then it won't be driven except when I simply need something that big (but it is comfortable for 6 of us to travel to the beach in.)

Point is (I strayed) leasing may make sense but you should consider the options carefully.

I do not like the idea (that is actually on the FAQ area in Cadillac's site) where it describes one reason a person leases is because it allows you to drive a car you can't really afford. Too many people today are living a lifestyle they can't afford. Unfortunately with the bail outs (including a whole state soon) I'm now funding these people with my taxes.

 

I live in remote northeastern Oregon and the prospects of a private sale are slim at best. What is the typical dealership practice of valuing one's trade-in? Some web sites, ie Edmunds and KBB, show much higher $ value than others such as Intelliprice, NADAguides, and InternetAuto.