Hypothetical Upgrade to PiP 2013 from Regular 2010

You didn't answer my question. What is a 2013 pip with 10k miles worth right now?

 

Official Kelley Blue Book New Car and Used Car Prices and Values


Knock yourself out

If I'm to believe the AOL data 7k less the sticker
Than factor in demand

 

2013 isn't up there yet. That's why I was surprised when you said you had a number. And if you don't, you probably shouldn't be making blanket statements.

 

The attachment I provided a few posts ago shows the data on the 2013 Prius.

I made a clear statement and provided data that depreciation is over $7,000 on a 2013 Prius.

 

^^^^^

Good post !

 

Offering more than a single configuration has been the normal approach for decades... engine size. Heck, the choice of transmission was quite typical too. Why not have hybrids like that too?

 

If you absolutely have to have 20 miles of EV, the PiP can get pretty close with some effort. You guys can't assume you are going to get a bunch more range without paying extra for it.

 

So...you are telling me my current PiP is worth $18,000? Because last I checked $25k-$7k is $18k.

 

If the Pip base sticker is $32,000 -$7,000 depreciation first year= $26,000

 

Cool...so I made a grand?

 

Congrats.

 

From what I see around my area, a used 2012 with 7k is going for 26k, it has been sitting there for months now because brand new ones are 30.3k with 0% finance and 3k toyota finance cash = 27.3k without considering federal/state incentives.

The sales person told me that the federal incentive for toyota PIP is gone because they have reached their quota and it was only 2.5k tax credit. MD only has a $600 excise tax exempt for the PIP.

The above numbers are posted for what its worth and will differ by region and location.

 

I believe that is true about the $2500 federal credit. There is only so many to go around. It is based on when you bought it during the year. I can't verify if they are already out of the credits though. I kind of doubt it.

 

Toyota is selling 500 PIPs per month on average. I obtained a new 2013 PIP base in the last month from a dealer in inferno's general area. I handled the registration process in my home state. The DMV clerk deducted Toyota rebates only in determining the actual transaction amount. The clerk collected sales tax on $26,800.

I think I got a good deal and Toyota undermined buyers and lessees it did not offer rebates to. Nearing the end of this model year, sales incentives from Toyota and its dealers will permanently depress used PIP prices in this tiny market segment. Add the $2500 Fed. tax credit and no used PIP base in the NE USA is worth more than $24k until there are no new ones available.

 

The sales person is wrong. The incentives are 200,000 per manufacture (accross all plug-in vehichle types), then it tapers off for 6 months after reaching that level. Toyota has sold maybe 25K between PiP and Rav4, it has a LONG way to go to run out the fedreal plug-in credits.

 

I'm curious as to the math behind statements like this.

Here is how I look at it. Let's assume you might get as low as 10 miles per charge and as high as 15. And let's look at four drivers. 7500 mile/year, 10K miles, 15K and 20K. Everyone charges only once per day, thus getting a low of 3650 and a high of 5475...let's add a few second charges per day and up the numbers to 4000 and 6000 miles per year. Assuming 250 wh/mile, 10 cents/kwh and $4/gal gas and 50 mpg. Your savings would be:

EV savings​

4K . . . . 6K miles/year​

7.5K . . $220 . . . .$320
10K . . $220 . . . .$320
15K . . $220 . . . .$320
20K . . $220 . . . .$320

You save the same amount per year no matter how many gas miles you drive. So why is it important how many gas miles you drive?

(Note you are likely to save more than this because the gas miles you are replacing are mostly lower mpg, such as 25 mpg to 40 mpg on short trips or the initial portion of a longer trip. If gas cost less and/or electricity is more over the life of the car you'll save less.)

Mike

 

Uh, then there isn't much depreciation. 2.5k Fed + 3k Toyota (NE, NY, NJ) is 5.5k. 4.5k if you have to ship, better with state incentives and then you can negotiate a price below MSRP.

There's a similar situation with the Volt, where the only people who have big depreciation hits are the mugs who paid full price because they won't Amazon their car.

 

This financial decision is about much more than just the math behind electricy/gas. In this short of time frame he is looking at quite a hit from sales tax and depreciation.

 

The promotion I took advantage of ended on July 8. Under the curent promotion incentives, no one need pay more than $29k for a new 2013 PIP Base, there is an opportunity to pay off the balance of an existing loan with an interest rate by doing a trade in, and obtaining a new loan with zero interest.:

2013 Toyota Prius Plug-In Base Hatchback Rebates - 2013 Toyota Prius Plug-In Hatchback Rebate Offers - Motor Trend Magazine


Also, the amount credited if the 2010 is traded in in the new purchase transaction would be deducted from the determination of sales tax owed on the new purchase. I would wait to see the new incentives offered by Toyota in mid August and maybe even for the incentive offering following the August offering, especially if PIP sales have not improved much in July.