I have an 09 that I am assuming is a gen 1. I bought it used and its almost paid for. Although I was really looking forward to no car payments for some stupid reason I started looking around and found two cars that I thought were good deals. One is a 2015 w/ 25k miles for 18,500 and the other is a 2017 w 14k miles for 17,500. Both are gen 5s and in good condition. My car is fine as far as I know except for 2 things. The dash went out once about a month ago but has been fine ever since. And it has 160k miles on it so I dont know how much longer the battery will last. I do have money put aside for that in case it happens. Is this a dumb idea to think about trading it in? the book value on the 2015 is 20k. My payment will be slightly higher than now but it really hasnt been a problem . Before I started looking I was planning on adding half of the extra income I would be getting with no car payments to savings and the other halff towards my house payment. The other cars I have found have not been anywhere near this good of a deal.Any thoughts would be appreciated. Thanks in advance!
FYI: The 2009 is the last year of the 2nd generation. The 2015 is a 3rd generation and the 2017 is the 4th generation Prius. The 2nd gens have been pretty reliable. If it's in good condition, then a battery replacement (if/when it happens) will make it good as new and certainly much less than it cost to get the 2015 or 2017. You upgrade because you want something in the newer car (like the safety systems or the better mpg).
I'd avoid the 2015 gen 3.. that's really really overpriced.. you can find them for much less if you look around.. the 2017 for 17.5k though.. that's worth it imo! If you can knock off 750 from it which is usually easy to do.. i'd say that's a steal. The 2017 is a gen 4.. there is no such thing as a gen 5 as of yet. (If you mean V trim.. even better deal) If it's a salvage for the 2017.. then i'd run away as well.
2009 is probably Gen 2: or an early Gen 3: I think you almost answered your question "... with no car payments to savings and the other half towards my house payment...". Maybe think it through with a Pro/Con sheet: Write all the good reasons for UPGRADING on the left, good reasons for KEEPING on the RH. That helps you to keep it all in perspective. Bear in mind that I read only this morning that Mortgage % rates are tipped to go up. Though just googling it now, one article said "31% say rates will go up" and that "31% say rates will go down" - so who knows. You could look at another option - hang in there with your Gen 2 or 3 another 12 months, put money into savings and buy then (or 24 months if your Gen 2 or 3 is going well). Going to the 2015 is unlikely to cost much different in MPG, a 2017 might have a small improvement in MPG - but unlikely to be enough to warrant higher repayments.
I think the OP may have confused "generation" with "trim level". Funny, it's the second post I've seen this week to do that. -Chap
i would stick with the 2009. if you feel it is getting long in the tooth at some point, maybe look for a 2012 with reasonable mileage. all the best!
That's pretty much the what it all comes down to, unless going into further in debt is the way to go.
Greg McDaniel, when I shop for a car, I only purchase from private party sellers and look for owners like you. You're the original owner, the car is running fine, you know the maintenance history of the car, and you simply want a newer car. My advice to you is to stick with your reliable Gen2 and put the car payment towards a new car/house fund. The risk is that you might have an expensive repair around the corner. I'd read up on how to identify warning signs, if any, for the brake actuator and traction battery.
You're currently driving what may be the most durable, longest lasting Prius made to date. Save your money!
