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Opinion: Good Prius deal or Not?

Discussion in 'Gen 2 Prius Main Forum' started by peakay, Mar 1, 2008.

  1. peakay

    peakay Junior Member

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    Hi There,

    We live in SoCal and have been interested in Prius, but it was a must to have the HOV stickers (I have a long LA commute). As we started looking, it seemed like stickered cars were mostly going for $20k and up, with some low mileage stickered examples at ridiculously high prices (High 20's to low 30's).

    In our search, we came across a shop that takes in vehicles sent to salvaged by insurance companies. From this company, we've put a deposit on a 2005 model with 32k miles that is very clean with every option available that year plus XM radio and leather, which looks like dealer installed Toyota leather as it is really nice and a darker charcoal color. We've checked the guys work thoroughly and verified he uses all Toyota replacement parts and has the various systems checked out directly by Toyota. He explained all repairs and issues on our car (verified with 2nd opinions form other shops) and we are comfortable that the car is repaired correctly, but it will have a salvage title.

    Anyway, we are paying $15.5k for it. Is this too much?

    We've been checking the market and this seems like a very low cost for the car with its options and stickers, even though salvaged. There is a company doing this in norcal and low option cars of similar mileage and year are going for 17k and up.

    Thanks in advance for any helpful info and options. I was going to post to the LA or OC forum, but there is very little traffic there.
     
    #1 peakay, Mar 1, 2008
  2. billarb

    billarb New Member

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    Have you checked it against Edmunds.com or Kelly BlueBook? That should give you a starting point to see how much the car is getting on the market. I'd also be inclined to check the dealer with the local Better Business Bureau.
     
    #2 billarb, Mar 1, 2008
  3. peakay

    peakay Junior Member

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    Yes. Edmunds quoted a price with the options and mileage of this car at $21,300. That did not include any penalty for the salvage issue, but no premium either for the HOV stickers, which seem to range in value anywhere form $1k to $4k depending on opinion. What I do know is that any Prius with stickers that is not outrageously priced seems to sell within days.
     
    #3 peakay, Mar 1, 2008
  4. forrestt

    forrestt New Member

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    Sticker or not, I'd shy away from any vehicle with a salvage title.

    Did they provide photo documentation of the repairs, including what it looked like before the repairs? I'm scared of internal and unibody damage that may not be properly repaired (if even possible) and is hidden in a non-accessible spot.

    Buyer beware. Personally, I'd run and keep looking for a clean titled vehicle.
     
    #4 forrestt, Mar 2, 2008
  5. morpheusx

    morpheusx Professor Chaos

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    +1 Assuming that it has a salvage title because it had been wrecked it is not worth it. Not to mention it hurts you twice in the longrun, chances are the body and welds may not last as long, and second when you go to resell it the prior salvage title would show up on the carfax. You also may want to check to see if the 150,000 mile California hybrid battery / motor warranty would still be honored from a salvaged car.
     
    #5 morpheusx, Mar 2, 2008
  6. peakay

    peakay Junior Member

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    Thanks guys - you raise some valid points. However, asI mentioned I am comfortable wih the work that has been done, but am looking for more feedback on the price as it pertains to the CA market for Prii with hov stickers
     
    #6 peakay, Mar 2, 2008
  7. morpheusx

    morpheusx Professor Chaos

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    You should definitely look into the hybrid warranty, on whether it would still be valid.
     
    #7 morpheusx, Mar 4, 2008
  8. subarutoo

    subarutoo New Member

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    It must not have been wrecked too badly if the stickers survived! Hit in the side, or rolled over, not to damage the bumper stickers?
     
    #8 subarutoo, Mar 4, 2008
  9. NaptownPrius

    NaptownPrius Getting Greener....

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    I'd be concerned about getting it warranted. What if you have hybrid stuff that needs repair down the line?

    Can you get a manufacturer's warranty on a used slavage titled car? As complicated as this car is, I'd be inclined to shy away from the deal.

    $15.5K for a car with 32K miles seems about right for a 2005 normal car sale, not a salvaged title car.
     
    #9 NaptownPrius, Mar 4, 2008
  10. Jack66

    Jack66 Kinda Jovial Member

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    Also call your insurance company to see what a salvaged vehicle does to your insurance premiums versus a non-salvaged vehicle. If they treat them the same then you might have an answer to part of your question.
     
    #10 Jack66, Mar 4, 2008
  11. clintd555

    clintd555 New Member

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    The deal is tempting, but I should shy away from it myself. In the worse case scenario - if your transaxle fails, you'll loose your savings for just that one repair. I highly doubt you'll be covered under the hybrid warranty.
     
    #11 clintd555, Mar 4, 2008
  12. pvsteph7

    pvsteph7 New Member

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    as others have expressed, i'd stay away from salvage. however, if you're set on it and ok with the repairs...

    i bought a 2005 used prius, 42k miles, nav, leather, HOV stickers, clean title, and i paid $23k. KBB had it listed at $20,500 or so, i thought i got a good deal b/c my understanding is the stickers add about $3k to the price (and then there are the nuts who have it listed at $28k + which is wayyyyy too much in my opinion).
     
    #12 pvsteph7, Mar 4, 2008
  13. peakay

    peakay Junior Member

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    OK, we went ahead and bought the car. They did a great job repairing it and it's indistinguishable from a used and almost a new prius as it is very clean. the discount allowed us to pay cash, so we feel it is worth it. i hate car payments!

    if anyone has any questions or wants to check in later about our experience, feel free to pm.
     
    #13 peakay, Mar 8, 2008
  14. Rangerdavid

    Rangerdavid Senior Member

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    gosh, really a buyer be ware situation, but apparently the OP is willing to assume all that risk, and jus wants to know if he's got a good price.

    Actually, on the price point, if the title and repairs are not an issue, sure, I think that's a real good price, and with the stickers? sure! Go for it!
     
    #14 Rangerdavid, Mar 8, 2008
  15. DaveinOlyWA

    DaveinOlyWA 3rd Time was Solariffic!!

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    i know a LOT of people will tell you to stay away from salvage titles, but i used to use my old property as a home shop and had a friend who specialized in restoring late model cars and reselling them....

    it all really depends on who is doing the work. ask that he supply 10 references of people who bought one of his restored vehicles and talk to them. if he cannot provide such a thing, then bite the bullet and pay market value elsewhere

    lets face it, the price quoted is waay below what you should be paying for a Pri

    *edit*

    ok you bought it... i'd rather see you driving a Pri than not. keep us posted on how it works for you
     
    #15 DaveinOlyWA, Mar 8, 2008
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