Prius Prime - official prices paid thread

Says the person who's hoping to claim a tax credit to help with their PHEV purchase.

 

Hello,

I'm new to this site and have a question about my lease end options. I live in Southern CA and I have a 2020 XLE and my lease ends in Jan 2023. I received a call from the dealer where I leased my vehicle offering to pay me $5k to sell my car back to them. I've never heard of this before but my guess is these cars are in high demand. I have 30k miles on it and I believe the residual is $16k. Any suggestions on what I should do? Buy it or sell it back to the dealer? Appreciate your opinions.

 

Welcome to the PC. You guessed it right. The PP is in high demand and dealers would want to snatch it at the end of the lease for a bargain price of $21K ($16K residual to the leasing company + $5K to you).

If your end-of-lease buy option is available at $16k. Then I think buying it for yourself is the best option. You will not find an equivalent car for that price, not in the current market. The dealer who is offering you $5k already knows that they can turn it around and sell it for more than $21k. Unless you have a major problem with your 2020 PP or have to replace it with a different car, buying it for yourself would be the most economical. Even if you don't need a car, you could sell it yourself on your own (of course after buying it for yourself at the end of the lease term) would be far more profitable than taking the $5K cash from the dealer, I would think.

There was a comment someone posted in the link below that a used PP similar to yours is being sold for $54K asking price. Try finding out your car's value at KBB or Cars.com or such, you will be pleasantly surprised how high the value of your car is currently.
2022 Prime or Wait for 2023 yikes! | Page 4 | PriusChat

 

You can sell it and make money, but the problem is that unless you don't need a car anymore, you will lose even more money than you made when you sold when you buy a new or new used car. It is like house prices—if you don't need a house anymore, you can sell yours and make a lot of money, but if you have to buy a new house, you will lose even more money than you made when you sold.

 

Buy it, they’re like gold these days

 

if you need a car, buy it after the lease end.
If you dont need a car, just check online car vendor like carvana....to get their offer. Likely you get offer more than $21k. Buy the cả then sale back to carvana
Or get a quote from carvana to use as leverage to ask for more if dealer wanna to buy it back from you

 

Hi!
What rock have you been under?!?

DO NOT sell it back to your dealer. You will get much more money from Carvana, I'm sure. Also check all the online car buying options - Shift, Vroom, CarMax, KBB, etc. Go with the highest, unless you NEED a vehicle. Then you'll soon find out why your car is worth so much now - you can't buy a new or used vehicle without overpaying or waiting.

Your car will sell for over $30k on Carvana. So I'd wager you'll get an offer of $28k +/-

Oh, also your used PHEV will become eligible for a (up to) $4k tax credit for the new buyer in 2023. That may increase your car's value even more at that point. If you want a new/different vehicle - start shopping now and order one at MSRP - maybe you'll time it right and get it early next year and get the highest resale for your Prius.

 

If I recall, the used EV credit is on 2 year old (or less) vehicle.

 

2+ years old
I just saw that max price is $25k for the vehicle, though, to qualify. I imagine there will be quite a few dealers doing two transactions to get around this somehow.

 

Just picked up my supersonic red XLE last night ! Paid MSRP, got $750 Connecticut EV rebate and $500 Toyota Finance discount. I will pay off the loan immediately.
Waited less than three months.

 

Congratulations! Mine is on its way. I too am in CT in Hartord County.

 

I just picked up my Prime LE, Metallic Black. I put a deposit down in July. The car came in at the end of October. I paid MSRP - $500 Toyota financing incentive. I am eligible the Massachusetts $1500 rebate. Also, my purchase agreement is dated July (when I put the down payment) so maybe I will get the federal rebate.

The only unneeded extra that was in the package was the Toyota connectivity package. Two useless IPhone cables (I have an Android phone) and one Android USB C cable for $75. And the Android cable does not even work with Android Auto because it is a Toyota cheapo that does not have the data connection. But Android Auto works with my own USB cables. There is also a 2 USB port adapter that plugs into the 12 Volt accessory. But with 3 built in USB ports in the car, I don't really see the point of the adapter.

I don't really mind the extra $75 package that was included. I guess if I had realized what was in the sealed accessory pack before I came home and opened it, I could have tried to have it removed from the price. But after waiting 4 months for the car, I was too happy to have the car. An extra $75 was worth it.

 

I see plenty of LEs and XLEs available for sale now, but very few Limiteds. It is a pity because Limited is what people are looking for, and it is the only trim that comes with indispensable safety features like blind-spot monitor. It is a shame that Toyota scraped these crucial safety features on lower trim levels on the Prius Prime, even though they are now standard on the non-plug-in Prius.

 

Well, if the Toyota still qualified for the full-fed tax credit, I would have traded in my 2021 PP Limited for a brand new 2022 PP LE in a heartbeat. With the current value of my used 2021 PP Limited, I would profit close to $6K with that trade-in, and I won't miss a thing. I don't need any of the features PP Limited offers but LE doesn't. I would gladly take the cash back for the features I don't need.

 

congrats!
would you mind sharing the dealer?

 

Well, you don't need the blind-spot monitor because you're one of those 1%-people who only drive on single-lane roads. The rest of us 99% drive on the freeways.

 

Well, even when I drive my PP Ltd out of state to a big city, none of safety features on the PP Ltd, incuding the blind-spot monitor, seems essential to me. After all, I have driven cars for over 40 years without them and never got into an accident. Yeah, if Toyota throws in the feature as standard in lower trims, I will take it. But if I can save $6K by not having the feature, I will take the cash saving anytime.

 

No one ever gets into an accident until they get into one.

 

Sure. The dealer was Lexington Toyota in MA. I had a very positive experience with them.