1. Attachments are working again! Check out this thread for more details and to report any other bugs.

0% Camry / 7% Prius -- if I keep it 10 yrs, which is better $-wise?

Discussion in 'Newbie Forum' started by HookedonPrius, Aug 21, 2009.

  1. Airbalancer

    Airbalancer Active Member

    Joined:
    Aug 6, 2009
    892
    73
    0
    Location:
    Cobourg, On, Canada
    Vehicle:
    2010 Prius
    Model:
    N/A
    WOW, That is to much info:eek:
    First step get rid of the kids , they are just a money pit J/K

    It is only money, either it works or does not
     
  2. HookedonPrius

    HookedonPrius New Member

    Joined:
    Jul 21, 2009
    11
    0
    0
    Location:
    Wisconsin
    Vehicle:
    Other Non-Hybrid
    Model:
    N/A
    hahaha. sorry. It was late (1am) and you guys were dealing with a perfectionist procrastinator. I look at it now, and say, wow -- a blog. I wanted to prove we keep our cars a long time. haha. There I just said it. I'll edit tonight. Sorry again.
     
  3. SageBrush

    SageBrush Senior Member

    Joined:
    Jun 4, 2008
    11,627
    2,531
    8
    Location:
    Southwest Colorado
    Vehicle:
    2012 Prius v wagon
    Model:
    Two
    After reading your blog, hookedonPrius, I have only one question:
    Is your driveway long enough to fit yet another car onto it ?

    Kidding aside, yes the Prius is a fine single car for most people; and yes, it runs *at least* as well as a Camry in the snow with equivalently (good) snow tyres.

    My two cents: your past habit of buying ~ two year old cars is very prudent consumerism. I don't see anything in your posts to force you to abandon a good habit, other than simply desire. Skip the rationalizing, and just decide if you want to spend 5 - 10k USD for a very special new toy.
     
  4. BlueIce

    BlueIce New Member

    Joined:
    Sep 15, 2005
    43
    13
    0
    Location:
    Plymouth, Wi
    Vehicle:
    2010 Prius
    Model:
    II


    Buy a II and spend $250-300 on a good GPS you be about $3000 ahead.
     
  5. HookedonPrius

    HookedonPrius New Member

    Joined:
    Jul 21, 2009
    11
    0
    0
    Location:
    Wisconsin
    Vehicle:
    Other Non-Hybrid
    Model:
    N/A
    You know, I was thinking about that, too. Dealer said we could have them change the review mirror to one with a back-up screen that appears in the mirror (small and to the left, maybe 25-30% of mirror, for $900+)

    P.S. tried my darndest to edit my previous long-winded "blog".
     
  6. HookedonPrius

    HookedonPrius New Member

    Joined:
    Jul 21, 2009
    11
    0
    0
    Location:
    Wisconsin
    Vehicle:
    Other Non-Hybrid
    Model:
    N/A
    Every one of the Forum members who have given me answers, have given ones that make so much sense. Even though they vary greatly. Thanks! Each day I greet my husband with something new: "we probably should get the 0% Camry." Next day I change it to "we can get a 3.99% Prius!" This weekend we were just talking about driving "our Prius" up to Quebec for the next Formula One race. Tomorrow morning I think I'll throw in "we should wait, save our money and avoid a loan" and hope there is a used 2010 Prius out there in two years. Also, the 2011 may come with a safety pkg with just radar cruise and back-up camera. That would be cool. I want this expensive toy, but perhaps need to exercise restraint.
     
  7. alohabailey

    alohabailey New Member

    Joined:
    Jul 5, 2009
    88
    4
    0
    Location:
    NY, NY
    Vehicle:
    2010 Prius
    Model:
    III
    Hey there. Why the 7% ??? If you join PenFed (credit union with Pentagon Federal , even if you are not military, there is a $20 dollar option to join the military families association that will allow membership into the credit union) it is only 3.99 % for up to 60 months. You only need $5 to fund your account. Goodluck! :)
     
  8. MattsGen3

    MattsGen3 Junior Member

    Joined:
    Jul 3, 2009
    23
    2
    0
    Location:
    Tucson AZ
    Vehicle:
    2010 Prius
    Model:
    II
    Financially speaking 7 percent interest rate is unbelievably high. I just financed my car thru PenFed at 3.99 percent.

    You can join them online it takes about 4-5 minutes.

    So at your present state (i.e. 7 percent rate for Prius) Camry is the right choice. At 3.99 percent I would say both will be very close.

    However since your husband JUST fits in the car and you are planning to keep the car for about 10 years, I think your priority is to find a car which both of you will be comfortable with for the years to come.

    If I were you, I would go with the larger car. Prius is a "SMALL" mid-size car. If your husband couldnt get used to size of the Prius and you want to change cars in a year or two, you may lose money.

    my2c
     
  9. HookedonPrius

    HookedonPrius New Member

    Joined:
    Jul 21, 2009
    11
    0
    0
    Location:
    Wisconsin
    Vehicle:
    Other Non-Hybrid
    Model:
    N/A
    I need to edit my original post, and will do so after I'm done with this. I got that 7% from a Build your Toyota site and just assumed it was in the range. I have since been guided correctly, and did discover PenFed's 3.99%. So thank you, and thank you also to AlohaBailey re: PenFed interest rates.

    My husband doesn't fit into the '09 Prius, but the 2010 seems to fit nearly the same as our Camry. He claims he is comfortable in it.

    After digesting all the advice we received, we now plan to save more $$ and revisit the idea next Spring or save longer and wait for the 2011. To us the Prius is a way to save $ on gas, do our part to reduce dependency on foreign oil, help the enviornment as well as have a really cool car to play with! ha. Hope if we need the help of a loan, PenFed will still have a great rate.

    Meanwhile, we'd like to rent a 2010 Prius and drive it on a long day trip and see if it fits my husband comfortably back-wise as well as leg-wise during a long ride vs our dealer's five minute test drive.

    The problem is I can't find rental companies that rent a Prius either here in Milwaukee or in Madison. Any ideas where I should look?
     
  10. SageBrush

    SageBrush Senior Member

    Joined:
    Jun 4, 2008
    11,627
    2,531
    8
    Location:
    Southwest Colorado
    Vehicle:
    2012 Prius v wagon
    Model:
    Two
    Sounds like your midwestern sensibilities have caught up to your enthusiasm. Good for you.
     
  11. alohabailey

    alohabailey New Member

    Joined:
    Jul 5, 2009
    88
    4
    0
    Location:
    NY, NY
    Vehicle:
    2010 Prius
    Model:
    III

    You are very welcome. :) Goodluck to you! I think the interest rates can only get better as I found out a lot of banks stopped offering auto loans when they hit 8%. Hope it all works out.
     
  12. Bobsprius

    Bobsprius BobPrius

    Joined:
    Jul 23, 2009
    679
    80
    0
    Location:
    Buffalo
    Vehicle:
    2010 Prius
    Model:
    V
    Wow you have valid points and really look at the overal cost of owership "Very Seriously" which is a good thing.

    I guess when your making a 10 year cost comparison or let's say a 5 year cost comparison, you used gas at $2.50-$3.50 per gallon. That's never a given and as you know, looking back 12 months we were all around the $4.00 mark per gallon. I anticipate that we will see those days again. When is the question, not if.

    I sold a perfectly good 2007 Honda CIvic Hybrid with 39K miles on it, not because the car was mechanically bad, or any issues that way, the technology is so much more advanced and refined in the Prius.

    The seats in the Honda were cloth and I don't know why, my back hurt each and every day from my work commute. I guess it was design flaw or design pain :mad:

    I used to bang my head getting out of the car most everytime, since the height and headliner was lower than the Prius design. I think sometime, if your going to have payments at least have them for the car you want. It was disappointing in some way to trade out of the 2007 Honda but I can't tell you how much more comfortable the Prius is and the gas mileage although "good" in the Civic Hybrid the Toyota Prius blows that away....

    I think in the long term I came out ahead...we never know but I am certainly much happier than I could have thought!

    Best of Luck in whatever way you decide to go!
     
  13. 13Plug

    13Plug Active Member

    Joined:
    Apr 7, 2008
    581
    104
    0
    Vehicle:
    2013 Prius Plug-in
    Model:
    Plug-in Base
    It sounds like your mind is made up, you just need to wait a while to get your new Prius. Good plan. I've heard from smart financial folks that if you can't pay a vehicle off in 3 years then you can't afford it. The exception to that rule is if the interest rate is like 0% then it doesn't really matter how long you take to pay it off.

    My vote is for the Prius too ;-) When I bought my Prius it was because I like technology and always liked the Prius. I have no idea how long it will take to see a return on paying the premium for a hybrid, I like it, it's cool, and that's what counts. I work from home (both of us) so we basically don't drive anywhere. It wasn't about the numbers... in fact when I bought mine I paid just over $37,000 (Canadian, tax in). A month later Toyota Canada dropped the price of the Prius by $1,900 for all models. Doh, there goes my resale...

    Anywho, keep us posted!