Price Paid on PIP?

yeah, of course

not a problem. i got temp OR plates and we financed the car through TFS. maybe this varies from state to state, but that's how it was: financed through TFS, temp OR plates for me to drive it off right away, dealer sent local DMV office all the paperwork as well as a check for the registration fees, I came into the office with an appointment, and was out of there in 15 minutes with CA plates installed on my car. Dropped off my HOV sticker form later that same day.

 

Let's just ignore the $6,500, since you can get that anywhere in CT, NY, or NJ. MRSP is 40,545 if you include floor and cargo mats (think you had a typo when you said 40, 505, and by the way blizzard pearl costs an extra $395 MRSP). kbb.com say dealer invoice is 38,200 (more for blizzard pearl). You are being offered 35,545. However, you have to ask 2 more questions - 1st, is the dealer being sneaky, by leaving out the destination charge from his quote (the $795 destination charge is already in the 40,545), 2nd, what kind of fees or options is the dealer going to try to tack on. I had 1 dealer give me a lowball quote like yours and then say there would be $4,000 in fees. Real dealer fees are in the $75 to $400 range. No matter what the dealer claims, all fees or extra amounts other than TT&L are just additional dealer markup. We had another person in this thread where the dealer foisted $1000s of dollars of useless and overpriced options into the paperwork. My dealer tried to sneak in $168 for a $15 VIN etching. You won't really know what the deal is till they hand you the paperwork and try to force a quick decision based on deal fever. Also, I don't believe the whoops we sold your car story, since I've seen that bait and switch too may times before (including from my 1st pip dealer), so I already don't trust this dealer.

Now let's assume the best. $35,545 is roughly $2,500 less than the best deals mentioned in this thread or that I was able to find. Even if the dealer adds $400 in fees, it is still a great price. It's quite understandable that you husband wants to see all his hard work pay off and has a bit of deal fever. On the other hand, you say you "strongly dislike" both the interior and exterior colors. That is unlikely to change just because you save 2,000 or 2,500. Some people will say the exterior doesn't really matter, because you don't see it most of the time and you'll get used to it. But the interior? Pretty tough to ignore if you have strong feelings about it. I just remembered though that you really don't have any interior color choice for the PIP - every exterior color comes with the same exact interior. You may have more alternatives in the non-plugin.

On such a high dollar purchase, for an item that is so intimately bound up with a person's personality and daily use, I don't believe in ignoring your preferences. If it was just a 2nd choice color, that would be one thing but that's not how you described your situation. Of course if I was really saving a full $5,000 over the best other deal,I might change my mind. Is $2,500 worth sacrificing what seems like strong preferences for a car you are likely to keep for several years?

 

Same story for me. Temp plates if needed, but the permanent plates are still going first to the dealer and then to me.

 

My husband has already been trying to price repaints, so yes he's thinking of all options but didn't think wait a few years to make it prefect again. That's good advice! Thank you, Lensovet,for being so thoughtful and responding to our concerns.

 

Following.

 

that's what i don't understand. you should be able to just pick them up in person.

 

You would think, but since the 3rd party co. is the agent of the dealer, I guess not.

 

Thanks to all of you who replied to my wife. Yes, I have become rather obsessed in trying wrap my mind around all things Prius. This site is priceless! In my thinking information is power. In this case, hopefully, empowering us to make the best decision for us. I am determined that I will make every effort to gain as much info.as possible.
We rented a Prius and drove it to Boston to look at a private sale. About a 400 mi. round trip test drive, since we are new to all things Prius. Several things occurred on this trip. 1st we test drove the PIP, then drove to Boston in the rental, where we then checked out the Blizzard 2010. The look in my wife's eyes said it all. She loved it!
She is a very giving person and is willing to go with my decision based on trust that I have all the "facts".
Today, my gut feeling is that I want to buy the Blizzard 2010 for her and I want the 2012 PIP for me/us.
What would happen if I bought the "greatest deal" PIP, kept it garaged and off the road, then my obsession subsides, buyers remorse sets in? Would I take a bath on trying to sell it on the "open market"a few months from now? I have very little experience selling cars.We usually buy used with cash, to the level we feel we can afford, then drive them till they die.
Is there something I don't realize about depreciation? Could my best deal now be an albatross around my neck?
I sense the possibility that PIP sales are down across the board and I will have just as hard, if not harder time, selling a PIP. Even with 87 miles it would still be used and depreciated. Do I make sense?
I don't think it would be healthy for our relationship if I bought both, cash on the 2010 depleting a good portion of our savings and toyota financing on the PIP.
Does Toyota offer financing at o% often?
Thank you for your kind and thoughtful consideration of our challenge. Count down till Monday the 4th and end of $6500Toyota incentive.

 

Ps. I just noticed she stated she has the 2010 Prius IV in her profile. I know her thoughts on choice don't I. Thanks again. Prius Chat folks are awesome!

 

If she wants a sunroof, then the IV by all means! As for depreciation - I purchased 2010 V for 32K not quite 3 years ago, and will count myself lucky if I can get $22K for it today. Obviously, it's best to buy used (like your prior pattern) or hold for a long time, or at worst lease if you know you like to change cars every few years. Keep in mind the new generation Prius could be coming as soon as 2015, and tech just keeps evolving. Personally, I like having a both a Prius and a more comfortable Camry hybrid in the family.

 

Don't forget the $2,500 Federal tax credit, which is only on new PiPs. And do you have any other state incentives where you live?

With all the discounts on the PiP it is hard to imagine a scenario where you would take a serious bath on it if you have to turn it over. Multiple factors would have to combine to keep the price of new PiPs supressed over your time horizon - and we already know some of those will not stick around forever such as the Fed tax credit. It is hard to imagine the hefty TFS incentives sticking around forever too.

Thus it should really be the other way around - all the discounts should protect you should you ever sell the car.

 

My nightmare is a new pip in 2015 that goes 35 miles, Can you spell o-b-s-o-l-e-t-e? I seriously considered leasing for that reason, but the monthly cost difference didn't seem enough to justify it.

 

Thank you for your thoughtful consideration of our situation, Much appreciated by the both of us!

 

Thank you very much. I think that Toyota's o% finance rate also buffers my depreciation for awhile too.

 

I saw one write up showing possible styling clues for 2015 and for me if the 2015's are close to that look, i'll be glad to keep the 2012 PIP in spite of the limited EV range...

 

I was worried about the same thing before I bought my first Prius. But if you think about it, cars hold value much differently than consumer electronics. A PiP or any automobile will always provide utility as a transportation device - that "feature" doesn't become obsolete. Although many of the vehicle's other features will certainly be surpassed by those in newer models over time (including the feature of EV range) - that should not eliminate and may not even significantly diminish the value of the used vehicle. Sure a 2015 PiP that has 50 miles EV range will be more desirable than a 2012 that goes 11 EV miles, just like the newly redesigned 2013 RAV4 will be more desirable than a 2012 RAV4. A new car will always be more desirable than a used one - that is true for all automobiles. And automobile features continue to get better.

There will still be a market for a used PiP down the road just as for any used car. And since it's a Toyota, has a track record of reliability, Toyota historically has had good resale values...etc. I no longer worry about feature obsolescence in hybrids.

If EV range was the sole factor in a PHEV purchase, all of us would be buying CMax Energi's instead of PiPs.

 

That's probably true, but it's also true that the higher cost I paid for fancier electronics in the V doesn't seem to add much value now that I'm reselling, relative to the original cost. I'm wondering if the same will be true when reselling a PIP versus a regular Prius. Of course, that's where the $6,500 price break helps quite a bit.

 

have you actually tried selling your car? I think your valuation here is overly pessimistic. a V+AT with 36k miles on it claims a retail sale value of $23,800 on KBB. if it's in really good shape or has fewer miles, I think a 24k value is completely reasonable. While still a fairly hefty depreciation, that's only $8k in 3 years, or $222/month. You'd be VERY hard-pressed to find ANY Prius lease with such low monthly rates.

Priuses are known to depreciate significantly slower than comparable vehicles. I sold my mother's 2003 Prius with 106k miles on it when it was 10 years old for $6k, when its original sale price was a hair under $21k. That's $1500/year or $125/mo.

 

MrQ, a lot of scenarios going on. Might be best to take baby steps and purchase only ONE Prius. Guarantee you'll get more use out of one Prius versus two. I wouldn't recommend anyone depleting the majority of their savings to purchase a vehicle. I took advantage of the 0%, 60 month financing and included every expense (TTL) in the total price. Never had a zero rate before. Decide quickly, by 8:00AM, and let your dealer know your decision. The PIP you referenced won't last. Nothing wrong with the 2010, just don't sink all your available cash into that, or any car. If you pass on the PIP, there will be other deals on other vehicles, but maybe not as sweet. Good Luck!

 

Thank you very much,everyone who considered our "plight", for your reasonable ,considerate and thoughtful advice.
Prius Chat seems like a healthy community. We appreciate your inclusive nature! Thanks again! One Love