Do you know which is smarter? New Prius 2 /2014 vs. Used Prius 2/2011 or 2012?

I had the same question and I decided to purchase a new one. The newer, low mileage used ones seemed too expensive. Since I had put 240,000 miles on my 2006 Prius II I thought the additional cost was worth it.

 

Unfortunately, that's a question only you can answer. KBB says a 2012 Prius Two with 20,000 miles on it will run between $15,600 ($313/mo) in fair condition and $18,000 ($361/m0) in excellent condition from a private party to between $19,400-$21,400 (avg $388/mo) from a Certified dealer, so there is a wild swing in prices in the Used market. If you're able to get a new one for $21,000, that would appear to leave out the Certified Used market unless KBB estimates are all wet. If you take a chance on the low end from a private party, you are doing just that, taking a chance and saving at most about $75/mo. If you look on the high end, then it seems like a no-brainer to just go New. The $3,000 difference buys you 0 miles, a full warranty, no risk of unseen problems and trade-in value.

 

I wondered the same thing. I was looking for a used Gen III with less than 40,000 miles, back up camera and Bluetooth with leather. The few I found that fit this bill were only about $2,000 less than a new one and weren't easy to find, about an hour from home. I ended up going with a new Prius Three with solar panel and sun roof with 300 miles from dealer transfer.

I guess it will depend on how long you plan on keeping the car. They do hold their value very well from my research. If you plan on keeping it for a long time then I'd go new, if you plan on keeping it a few years or so then go used.

 

my rule of thumb:
buy new for keeping 6 year or more
buy used for keeping less than 5 years

the good thing buying new: you know your car better at the first sight,
the big plus is warranty.

I(& my wife) had been in that situation when searching mini-van (Sienna or Oddy) in our area. the differences is just $3000 between used (2 -3 years older) than a brand new one.
since planned to keep 10 years or longer, we picked a brand new Sienna that need 1 weeks for delivery from other dealer since my wife preferred silver color.
the mini-van was only 6 miles on odo-meter , and fresh with all plastic covers in the interior.

 

I would go with new . $21.3 for brand new w/back-up camera sound fair to me.

 

Assuming total cost of ownership per year is what you care about, buying 2nd hand ends up costing less $pa for most cars but not necessarily for a Prius which holds its value really well in most locations.

The important thing that most people don't think about enough is how much cheaper it is to keep cars for a long time, provided they are reliable and economical to run, and how their choice of car will affect how long they are likely to keep it.

A Prius is a good candidate for long term ownership as its very economical, very reliable and very adaptable to different needs.

 

Funny you should mention keeping cars longer, I went from 90 days, then a year or so, 4 years, 11 years, 3 years (gave to my daughter), 17 years and 16 years. My truck is at 9 years now and the Prius is new. Not sure what I'll do with the Prius and it will probably depend on future technology, unless it totally fails us on our upcoming trip.

 

If only there was a way to know that some idiot driver has not abused the car. Was it run in a hot climate or in mountains, both of which seems to be very hard on the traction battery.
Buying from your trusted hybrid smart neighbor would be fine.. Buying a rental where a hundred unknow idiots may have abused it, kind of a crapshoot.

 

I wouldn't advise it. It has an unknown driver history. Some people could have gotten it and dogged it.


iPhone ?

 

The only used cars I've bought were from family. However, i do tend to keep my vehicles for a long time. Average about 10 years. I just love knowing that I've taken care of them. Toyota's just tend to keep their value for a longer time. My Tundra is 12 years old and has 170k miles on it. I really haven't had any issues.
My Prius is a lease right now, but I'm on the fence about keeping it, or seeing how the next generation is in 3 years. The lease is partly for business reasons.
Seeing the price difference in your scenario I'd go for the new.
PS. the backup camera is sweet. I wish my truck had it

 

See if your dealer's got any PIP's (Plug-in Prius) they're looking to move, you could potentially get a really sweet deal, and all PIP's qualify for the Fed $2'500 income tax credit!

 

Weren't you debating a New Prius 2 vs. buying a used rental Prius?

Some of the same parameters still exist.

Personally? I put a great value on having a new car, that I know the mechanical and maintenance history. I also value the initial new car warranty.

But since this is essentially the second time you have asked "New" or "Something Else"?

Then perhaps the money savings IS important enough to you? Only you can answer that for yourself.

To me it would come down to exactly how much savings, how confident I felt about the used vehicle, and perhaps what extra's I was getting in purchasing used as far as upgrades in trim.

I haven't ALWAYS been able to do it in my life. But if I can afford it? I like being able to buy new.

If you decide to "save some money" and go used? All the usual things would apply. I would want to know as much about the used vehicle as possible. Car Fax, Independent Mechanic Evaluation, and if the situation you are buying used from (Toyota Dealer) includes a warranty...all the better.

Because the risk you take buying used, is that if the vehicle has undiscovered issues, or premature wear and tare due to previous abuse or neglect? Then VERY rapidly the money you banked in "savings" between buying new and used can vanish.

My friend NEVER buys new. He always buys a "newer" used vehicle...2-3 years old. His logic is that it negates or softens the immediate and undeniable "New Car" depreciation that happens the moment you buy a new vehicle and drive it off the lot. He's been pretty successful with that approach, and CAN usually afford a step up or two in trim level or luxury, vs buying the same vehicle brand new.

But to me? Buying a new vehicle if possible...is a luxury in of itself. And if I can afford it? That's the route I like to go.

 

I was going to write out a long post but I don't think that I can improve on the previous post, except to point out that Priuses are turning out to be VERY reliable cars out to 200,000 miles.

Good Luck!

 

I have a friend who used to always buy a 1-yr old car and then trade it for another 1-year old car when the warranty was up. The funny thing is he did that for years "until" he retired. Then he bought a new car with an extended warranty that he intends to keep until that warranty expires. I never asked what the logic was for the change in strategy. I will add that, like The Electric Me, I have friends who also swear by purchasing used. However, they are not buying cars like the Prius that hold their value the way the Prius does, at least the Certified ones. Given the warranty and reliability of the Prius, I'm not sure going the used route yields the same overall savings, etc., unless you are someone who wants to stay up-to-date to get the latest tech, etc.

 

I don't understand this logic. A car is made to last longer than a couple of years. This seems like a waste of money. Then again I find warranties nice if something goes wrong in the beginning that's a manufacturing defect, which is what they're designed for. But most times this doesn't happen. I also think extended warranties are a waste. I'd rather save my money and if something goes wrong then use it, if it doesn't, then I have some play money, or just money saved.

 

Karen, I had to go through this decision when I got mine. Looked around hamer Toyota in the Valley and found that used Priuses aren't much cheaper than brand new ones (even the 2013 ones with 40K miles was only about 2-3K cheaper ). i decided to just get a new 2014 Three and I'm very happy with it. There are Priuses everywhere in SoCal, I love it! lol Welcome to the club.

 

Just to add, since you live in CA, you may also qualify for a $1500 CA PIP rebate.

Clean Vehicle Rebate Project | CSE (CCSE)