Background: Purchased: Mid-March 2022, 2012 Plug-In @ ~272k miles. [Previous and only owner: 95% highway miles, oil changed at 5k intervals, other required maintenance performed]. Since purchase (not in order): 2 oil changes (plus fluids and rotate) New set of 4 Michelins Replaced all spark plugs and boots Replaced PCV valve and MAF sensor Cleaned EGR pipe and manifold Cleaned intake manifold (Still running on original 12v battery). Currently: I live in the Midwest with a 6 mile commute, but visit my partner nearly every weekend, which is roughly 200 miles round trip including stuff around town. If I'm not with my partner, we're road tripping or visiting parents. This is also my only car. In 6-8 months we're moving and by then I was planning on trading this car off since I'll have enough saved up for a down payment on a newer vehicle. What I'm concerned about: Will it be more difficult to trade into a loan now or later (when the car is closer to 300k)?
They'll trade you into a loan regardless because you're going to get raked over the calls and the loan and probably on the deal so your mileage is irrelevant 30,000 isn't going to make squat bit a difference these people want to put you on a loan . And if you've got the necessary credentials they'll get you in a loan even if you don't you're willing to pay more they will get your money . A newer car I love the people are always chasing newer and you'll always be fixing newer because they're built to be obsolete fast now oh you get a few more miles to the gallon but you get to spend a whole lot more money fixing repairing and buying another one.
A dealer is going to give you almost nothing in a year. No matter what the salesman says. If he says he is giving you $5k he is just adding $4k to the loan OR selling you $5k worth of bs addons like nitrogen, vin etching, tint, paint protectant and or pin stripes which are worth $1k. Or by jacking the interest rates through straight out increases, fees and or extended warranties. If they sense you are pliable, you get hit with all their schemes. Even if it is a newer used car at a dealer. Today you also get hit with increases over msrp. That part "might" go away in a year. The best deal for you is to sell the car yourself instead of trading it to a dealer who will simply auction it off to a used car flipper. You might get more now than next year but you have no car to see your partner. Now or later, you apply the proceeds of the personal sale to the new(er) car loan which you obtained from your credit union. To sell your own car takes some skill and understanding of the market but it is not that hard. Same goes for buying a new car which is why new car brokers like Costco are getting popular. I have never traded a car to a dealer in over thirty years. Many do everything at the dealer because it is "easier". I have walked out of showrooms after hours when the deal changes for no reason other than an assumption today's buyers can't do third grade math. Its up to you if it is four or five thousand dollars easier. One thing for sure, the smiling car salesman waiting by the showroom floor is not your instant buddy. Even though they are often great actors.
The miles, on a third gen, is nothing short of amazing. No head gasket symptoms? Oil consumption not out of control? Brakes and hybrid battery behaving? Then: Why take on new debt as soon as possible?
Alright, stealerships not the primary path, understood. It wasn't my intention to finance and brand new car, something used with less than 100k miles probably. Is it possible to finance a purchase through a private party?
No head gasket symptoms from what I can tell, but there are some weird noises at startup maybe twice a month, even though it doesn't sound specifically like engine knock. It does consume some oil, doesn't appear to be out of control. Hybrid battery behaves well, even though I can only get ~10 miles on EV mode. Brakes need some attention - they work but there's a noticeable whirring (from the accumulator? Master cylinder?) when I lightly touch the pedal but don't apply force. There's a slight lurch at the end of a brake to standstill, plus the rotors probably need changing because of a repetitive squeak. Why take on new debt? I don't know how long to drive this car, even after fixing the above issues, so I figured sooner than later I should switch.
When you are privately selling you don't care where the buyer gets his funds. Most of the time it will be cash or their credit union. It is doubtful banks or credit unions would finance a 300k mile Prius. However, the high interest used car lots will sometimes finance cars they sell. I would get rid of it sooner than later. It sounds like it has a head gasket, brake booster and plug in battery in its future. Or $10k-$15k worth of major maintenance may total it.
Going into debt on a new car and have outrageous monthly payments living on paycheck to paycheck is worth wh8le!!!
