My 2010 Prius IV, not Four, got totaled last week at 94,500 miles. My insurance is giving me a check for $20,584.14. I'm thinking to buy another Prius due to it's reliability and my daily driving commute. I basically don't want to pay too much or at all out of pocket for another Prius. If I do buy another Prius, is there anything to look out for? Should I buy a CPO from Toyota Dealer itself?
Wow, that seems like pretty good value for a 5 year old Prius with nearly 100,000 miles on it. Assuming you want to use the total amount towards your next purchase, I'd be really tempted to upgrade to "New". Resets the new car warranty, resets the hybrid battery warranty, and you are the vehicles first owner. Not to mention your odometer rolling off the lot would be closer to Zero than 100,000 miles. I think at this time of year, with gas prices low, and that big of a down payment, even if you needed to finance a difference it wouldn't be much. But it's up to you. If my financial means at all supported it? I'd be looking at new Prius.
CPO tend to be pricey, but may come with enhanced warranty. Private sellers tend to be realistic on pricing, but be sure to get a pre-purchase inspection. Either way, you got a smokin' insurance recovery!
Yeah that's true but there's a lot of expenses I have such as my family and two kids going to college soon. My goal was to make my money back on my original Prius with my $30,000 investment in 2010.
If you get a CPO, then get a real Manufacturer Certified Pre-Owned program, and not some feaux coverage commonly offered at less scrupulous car lots. Me? I'd budget about 18K for another G3 with about the same mileage, and bank $2500 in a repair fund against the possibility of having an unlikely repair. Remember.....you're in a CARB state. That covers a lot of pretty expensive parts. Good Luck!!
Only you know the limits of your own budget. And I respect that. But my logic is, with potentially $20,000+ as a down payment? The difference you would have to finance to get new would be ridiculously small. I don't know how committed you are to maintaining the same level of amenities you may of had on your Prius IV, but new Prius Two's are going for $22,500-$23,000. If you want to climb up the ladder of niceties you could add from there. Also, and this is just a thought, if you have your two kids going to college soon? Is the ability to downsize The Prius an option? You could also probably look at buying a Prius c, without having to finance any difference. If you are absolutely committed to used, and not obtaining the dreaded car payments, then my recommendations would be the same as for anyone looking at used vehicles. A minimum of a Carfax and with a Hybrid I'd personally prefer a actual Certified Pre-Owned. But my concern is that if you start looking at "Newer" used Prius with those parameters the difference between used and new becomes razor thin.
It's a fools errand to buy a Prius to save money. A vehicle is never an investment unless it's a classic car meant for collecting. Your financial goals would be helped by purchasing a different used vehicle like Bisco said. Peace of mind is worth different amounts to different people, and it must be paid for. For many, that means paying full retail on a new car with warranty. For me, it means purchasing a 2012 PiP with a branded title for $13k. I can give you all kinds of financial advise, but I can't tell you how to value peace of mind, safety, performance, fuel economy, image, etc. That's up to you to determine.
I ended up getting a Certified Toyota 2010 Prius Package 5 with 72,000 miles. I basically wanted something with no payments and a decent warranty. I just think of it as heck it was better than my 2010 Prius Package 4 with almost 95,000 miles and I got PCS and Dynamic Cruise Control.
Congratulations on your *new* Prius! Mine is a 2012 Prius II, Gen 3. I had 58K miles on it to start and I love it. I hope you have many wonderful memories with it!
Hi all. I am looking for a mechanic who specializes in hybrids to look at a used hybrid I am interested in buying. I am in southern Connecticut. If any Connecticut Prius owners have someone they would recommend I would appreciate it?
