A question about total amount of miles on car and trade in value...

60 to 75K is normal for 5 years. Adding 30k to 100k probably wouldn't have that much impact on the trade-in value, which will take a big hit in the delta from the expected 60-75k versus your 100k.

Just for grins you could go to KBB.com or Edmunds.com and get a trade-in value of a 2004 Prius, and see what the high mileage impact is on their trade-in values.

EDIT: I just did that at KBB.com, and a 2004 Prius with the options they select in excellent condition had a trade-in value of $8050 at 100k, and $7325 at 130k. At 60k the value was $11,025, and at 75k it was $9825.

It appears to me that driving the Prius and not getting the rental would put you money ahead.

 

I agree, and if you sell it yourself you should be able to make a couple of thousand more on it than a straight trade in.

 

Trading in perfectly serviceable cars at short intervals is what really clobbers your finances. As long as it is reliable and safe, why not keep it for at least a decade?

 

Ten years - that would be like saying to a GEN 1 owner wait a couple more years More seriously, in 5 to 10 years, I assume the P will get 100 miles per gallon or be plug in, so many folks will want a newer auto. I will be happy if I keep it 6 years and 11 months (sell before the ext warranty expires).

 

Forget saving $, depends where you are driving in Florida. I grew up in Miami and the drivers, and crime, have not improved. Assuming it does not get stolen (since members say its rare due to mechanics), then lets take driving skill (even in other parts of the state). There were numerous times where senior citizens would try to park in a straight in spot and miss. They would touch or hit the car next to them and keep trying until they were in. One would think they would run after the hit but either they did not realize, or care). So at the very least if I lived in FL, or visited a lot, I would have body side molding on the doors I know most members ding the idea (pardon the pun) but mine will soon be installed, which even here, will make me a happy camper.

 

And the problem with that is?

I practice what I preach. I waited for the entire hybrid era. My most recent auto purchase, before this Prius, was in 1997, and that one remains in the household. The new Prius replaces a 1986 acquisition, which was still sufficiently reliable and extremely cost effective, but which I was getting too uncomfortable with the crash safety.

Gen1 should still be a very good car, far exceeding the Bush-2020 / Obama-2016 fuel economy requirements. The MPG improvements in the GenIII don't even come close to making up for the higher depreciation of a new car.

 

Other than not being germaine to the question the OP asked, nothing. Different strokes; you can practice, don't need to preach.

 

OP appears to be trying to control his automobile expenses, and my replies were very germane to that topic. Way too many folks don't realize how much of their life's earnings get dumped into this.

 

We all have are own little extravagances. I have not purchased a beverage (water is healthy and free) at a resturant in over 20 years and maybe purchase 20 cocktails a year out and about. As for eating out, maybe 50 meals a year since I enjoy cooking (not a gormet and eating very healthy). So I take all that discretionary savings and throw it in to cars. I "only" keep them 4 to 6 years then want something different (amazing I have lasted this long drinking water). To each his own. :rockon: