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I need help , please

Discussion in 'Dealers & Pricing' started by mr1nice, Jan 2, 2007.

  1. mr1nice

    mr1nice New Member

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    Hi to All,

    I am new here and I have few questions and I am hoping somebody can help me.
    I am looking to buy another car ( to be honest another Prius), at this moment I have '03 Toyota Corolla ( that is almot paid off , I have 4 payments left) .With the Corolla my MPG is around 34 or so. As I said I am looking to buy Prius because I am driving about 120 miles a day and I am hoping if I buy Prius that will help me save some money on gas.
    Today I did some shopping and I received an offer from one of the dealers around great Boston area on new Prius. The offer is for '07 Prius Pkg.#1 for $21500 (plus $95 for title and temp. regist. plate)

    So, my questions are is this good deal or not ?? My second question is do you think that I wil be saving decent money with new Prius or I should get another car with good MPG.

    Thank you in advance.
     
  2. efusco

    efusco Moderator Emeritus
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    There is no way you can net any financial savings by buying a new car. 34mpg is quite good and you'll see only a modest improvement in FE with the Prius (maybe 50% optimistically not knowing what your commute or driving style is, maybe 20% is all you'll see). The depreciation jsut doesn't make buying any new car a good investment or option to save money.

    If, however, you need a new car and will be buying a new car regardless then yes, the Prius is a good way to go. If your Corolla is in good shape and you like it then stay with that if $$ is your primary concern.
     
  3. TonyPSchaefer

    TonyPSchaefer Your Friendly Moderator
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    I'm going to guess that you will average around 45 - 50 MPG for the life of the Prius.

    Some quick math:
    Gas = $3.00 per gallon
    Drive = 120 miles per day (120x5=600 miles per work week).
    At 35 MPG, you burn 17 gallons per 5-day work week (600/35=17.1).
    That costs you $51.00 (17.1x3.00=$51.3).
    At 50 MPG, you burn 12 gallons per 5-day work week (600/50=12.0).
    That costs you $36.00 (12.0x3.00=$36.00).
    Potential savings over 50 weeks is $765 ([51.3-36.0]*50=$765).

    In order to break even, you need monthly car payments of less than $63.75 per month ($765/12=$63.75). Good luck with that.

    In my opinion, having a car that you own outright outweighs a brand new Prius. I think that you would be better off over-inflating your tires, practicing a technique called "pulse-n-glide" and doing other driving techniques that will help boost the mileage of your Corolla.

    As much as I promote and preach hybrid technology and the Prius, I also tell people to go against the American grain and stop buying things just to buy things. OWN your car and be proud of it. The resources have already been spent in building it and you have already paid for it. You will never receive what you deserve in trading it in. I simply can not see how you can win if you get the Prius.
     
  4. mr1nice

    mr1nice New Member

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    Sorry but I wasn't clear enough. I need to buy a car for my wife. It is not mater of me keeping Toyota because I plan to do that. The issue is should I buy Prius and give Toyota to me wife, or keep driving Toyota and buy something else for my wife ? I know that somebody may say this is up to you what you want to do but I am just wondering if Prius is worth of this money for me with my driving.

    Thank you
     
  5. efusco

    efusco Moderator Emeritus
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    Again, the same type of answer is applicable.
    There's currently a guy trying to sell his '04 Prius with a bunch of miles for $28k...he took a big, high interest loan and payed a surcharge to get the car that he's now, 3 years later, realizing he couldn't afford. You can buy a brand new '07 Prius with zero miles for $28k, but that's how much he still owes on the car. He sure isn't saving any money.

    This is very much dependent upon your financial status. Buying a "new" car, any new car, is a money losing endeavor...accept that up front. Then the question becomes how much are you willing to lose (aka spend) when you get a new car.

    If your financial situation is serious (ie it's going to take you a full 5 years to pay off a new car with no hope of early pay off) then you should give serious consideration to a small used reliable car like another corolla, a civic, and that ilk. If you're financially stable enough to afford a new car and the Prius is in your price range then it's an excellent vehicle that will make you feel good about saving gas, you'll spend less on gas than any equivalent car in it's class, you'll be doing a little bit for the environment, and you'll be buying the coolest most advanced technology on the road. But you won't be saving money in the big sense of the word.

    I posted a thread just today you should take a look at, maybe it'll give you the right perspective to think about this subject.
    http://priuschat.com/1000-Gallons-Milestone-t27991.html

    BTW, I'm seeing used 2G Prius for sale these days...they're holding value well, but are a good option if you really want a prius without paying new car prices.
     
  6. Beryl Octet

    Beryl Octet New Member

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    <div class='quotetop'>QUOTE(TonyPSchaefer @ Jan 2 2007, 10:04 PM) [snapback]369846[/snapback]</div>
    I never quite understand the rush to get a new car payment just before the old one is paid off, unless the car just sucks beyond all hope. Anyway, I'd think the OP would also be better off keeping the Corolla, assuming it's still reliable, and saving money for a bigger down payment to avoid some of the interest and finance charges on the next one. That's un-American, I know, but I was the guy driving the used cars while my buds were all leasing new ones every two years. I'd be horrified to be underwater on a car after 3 years, like the guy wanting $28K for his '04, but you live and learn. My goal was always to try to keep the car for at least as long as it was financed after it was paid off, which was simpler in the bad old days of 2 or 3 year car notes.
     
  7. efusco

    efusco Moderator Emeritus
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    <div class='quotetop'>QUOTE(Beryl Octet @ Jan 2 2007, 10:29 PM) [snapback]369873[/snapback]</div>
    He states later on that he's keeping the Corolla, but needs a second vehicle so will be buying something anyway.
     
  8. fshagan

    fshagan Senior Member

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    If you HAVE to buy a car because your family needs a second car, the Prius is a good choice for a gas sipper. I found it to be more comfortable than the Corrolla, Matrix, Sentra, or Mazda 3, and much faster off the line (stop frowning, you hyper-milers ... I have to avoid getting killed on the SoCal freeways!)

    The Prius package 1 is a good package; I preferred the package 3 for the extras, but it was about $24k IIRC. The 21k price is MSRP, I think. You might be able to beat MSRP on a package 3, but if the goal is to get the most car for the least money, you won't want to go higher than a package 3 or 4 (that's my opinion; others will tell you the navigation unit is worth every penny, etc. Maybe, but I've learned how to get to work and back without having to leave a trail of breadcrumbs.)

    There's good advice here about a good down payment. If you can put more than 20% down, you can often get a much better interest rate from your bank or credit union. Give them a call and find out what they are offering for minimum down, 10%, 20% and 30% down. Then find out what your Corrolla is worth at Edmunds.com or another site, and negotiate for the highest trade in you can, or sell it private party. 34mpg is better than most cars on the road, so if gas prices spike up, you may be able to get a fair price for your used car.
     
  9. Beryl Octet

    Beryl Octet New Member

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    <div class='quotetop'>QUOTE(efusco @ Jan 2 2007, 11:31 PM) [snapback]369875[/snapback]</div>
    Ooops, sorry, I misread it as though they were wanting to trade. The Prius seems like a great choice for someone who drives 120 miles a day. As TonyPS crunched the numbers, it's roughly $800 less in gas per year, plus fewer brake jobs etc. and whatever tax credits etc. remain.
     
  10. Wildkow

    Wildkow New Member

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    Hmmm, not one mention about the environment, strange on this board. So here it is... If you have any concern over the environment and I'm not talking just "Global Warming" here but a desire to send less pollutants into the air then the Prius is a good start. Also all the “Bells and Whistles†, MFD, GPS, Bluetooth etc. . . that the Prius has but may not be included in the #1 package is exceedingly cool! Just make sure that the package you get has the all the safety systems included.

    Just do it! Spend a little more than you can afford for the cool stuff (it's the American way) you won’t be disappointed. :D

    Wildkow

    p.s. I agree with fshagen about the GPS, while it is very cool it isn't worth the price.
     
  11. efusco

    efusco Moderator Emeritus
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    Wildkow,
    Above I said:
    <div class='quotetop'>QUOTE(efusco @ Jan 2 2007, 09:31 PM) [snapback]369853[/snapback]</div>
    The the point does bear repeating.
     
  12. Wildkow

    Wildkow New Member

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    <div class='quotetop'>QUOTE(efusco @ Jan 3 2007, 06:44 AM) [snapback]370049[/snapback]</div>
    I rarely give your posts the thorough reading they so richly deserve. :p Forgive me? :unsure:

    Wildkow
     
  13. Joe Bernard

    Joe Bernard New Member

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    Seems to me you have the bucks for a new car, you want a new car and you like the Prius. Assuming your Corolla will accumulate less mileage if your wife takes it over, I would pass it on to her and start commuting in the Prius. Corollas last a long time but 120 miles a day adds up. You don't want to be looking for another car while still paying off your new one.

    The other reason to keep the Prius for yourself is, you didn't come here to get talked into buying a brand new Prius for your wife so you can keep driving that stupid old Corolla! :)

    I wouldn't pay full MSRP for a base model. Check out Edmunds.com and kbb.cm for pricing info.
     
  14. lovebliss

    lovebliss New Member

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    <div class='quotetop'>QUOTE(fshagan @ Jan 2 2007, 11:42 PM) [snapback]369886[/snapback]</div>
    I have to agree that package #3 and #4 are worth the price but if you live in California you will not be able to get one. I will be buying my new Prius next week and the packages jump from #2 to #5 and #6. I think the only difference between 5 and 6 are the leather seats and honestly who wants that in the middle of the summer! I will be happy with my package #5 even if its a little more that I was planning to spend after my trade in.

    Your best bet is to do some reasearch. Go on the toyota web site then go to build your prius and it will give you a list of all your local dealers. Call them and get quotes. Also look at triple A or Costco. If you really want the best price you have to work for it.