Another blow to the Prius Fund

the cost of a used engine for the MR2 is probably the down payment on a Prius and if your that close to paying off the MR2 IE: 1 or 2 payments just junk it and get on with life. I know you strapped what with buying the new house and all but time to sit down and seriously look at the car issue. What can you get out of it after a motor swap. What can you get for it with a blown motor from someone in your Spider Club? Sorrry to hear about your dilemma. So what was the code for a "pre cat failure"?

 

Sorry to hear of your misfortune Danny!

Is there a warranty issue with the MR2 such that Toyota will fork over?

I say go straight for the '05 Tideland. Big tax deduction hit if you wait until next year!!

Besides that, you can be like a lot of us old guys, one car at a time. It will save you a lot of insurance money. The only time I have owned 2 cars at once was last Sept for 2 weeks when I was prepping the Odyssey for sale

Oh, and PLEASE don't drive the Prius off the side of a mountain!!!!!

 

Other than that, how was the game?

Seriously, how's the house, specifically, your equity position? I realize it hasn't been all that long since you bought it but is pulling some more cash out of it an option? IOW, HELOC or refi, pay off MR2 and, perhaps, get enough to buy the Tideland.

 

Ah, hell -- sorry to hear it, Danny. If there's any person on the planet who deserves a new Prius, it's you.

In the Looking at the Glass Half Full: By the end of 2006, the 2007 Prii will be out -- and it might be another completely redesigned, three-year model improvement.

And won't we all be drooling over your new Prius then?!

PS Tideland rocks.

 

Ouch.

Go Bobcats!

 

really sorry to hear about your plight Danny and i fully understand your wanting to have your finances in line before making the commitment.

i had wanted a Prius for a while but didnt do it until i could pay cash for the car. if that wouldnt have happened, i wouldnt be driving one now.

but my situation was different. my credit sucks so i couldnt have financed a car under any circumstances anyway.

but you seem to have a good job and i understand the house to be a big undertaking (selling mine is how i got the money to buy my Prius) and i think you should cut your losses while you can concerning the MR2.

you must realize that if you find that in a year from now you cannot afford to keep your Prius that you will get most if not more than your money back from the car.

i find a Prius to be a "no lose" situation. my car's TRADE-IN value is $810 more than what i paid for it IF i had 10,000 miles on it. (i only have 8200 so far) it retails for $2100 more than i paid for it.

so like i said, i can understand your hesistation, but at the same time, right now, i can see little that will bring you as much satisfaction, pride, and joy at what is currently very very little financial risk compared with any other vehicle.

the MR2 may be paid for, but the engine isnt. i dont know what you think you can get for the car but do you think it will be worth more later?

 

Danny: I agree with the others that NO ONE is more deserving of a Prius than you, and I'm sorry to hear about the untilmely demise of the MR2. Thank God you weren't injured. Someday, I suppose I could face the same prospect in an airplane (I'm a flight instructor), but losing power on a busy street is actually scarier to me.
Keep us posted. Someone mentioned Seaside as your color preference? Is that so? I love my Seaside and don't regret the choice at all.
I was surprised that you didn't have a Prius; I remember when you came to Seattle, you were on the waiting list, but I didn't know you were still on it.
Keep us posted.
Amazing that you've put so much work into this web site and have read countless "oohs and ahhs" posts from new owners without yourself being able to join in. THAT is pretty selfless generosity.
Hugs,
Bob

 

Danny,

Hmmm. How much for the engine-less mr2?
Whats the miles on it?
Is there any undercarriage damage?
That car would be fun to drop a 350Z motor in and supercharge for a track car, or even a S2k motor! :mrgreen:
Just thinking about that situation sends chills through my spine.

 

Danny,

If you're willing to live without the higher end package for a while I happen to know that a local dealer will soon (probably this week so you'd have to jump on it) be getting a gently used 2004 Salsa Red Pkg #4 / AG and integrated XM with about 25-26K miles that is in very near mint condition with mostly highway miles and religiously maintained.

I've given in to the Primal Prius Urges and made the deal for a 2005 #6.

PM me if you're interested and I'll give you the details on the dealer.

 

Get the Prius, cut your losses and move forward! You can do it.

(I will say that black MR2 did look sharp even if it was leaning over the edge. Black and slate/granite go well together.)

 

This is going to be tough. Balance between the cost of repair and what your old car is worth vrs the trade in is going to be hard. I have had a bit of luck trading in a similar car to a young mechanic. I got a fair price he fixed it up over some time and sold it. Both of us did well in the long run, and I got off better than I may have.

 

I understand your situation, Danny... I was in a rather similar situation myself. Three months after paying off my Saturn, I was unemployed - and totaled it. (Well, I just scuffed up the bumper, and popped the airbags, but the insurance company totaled it). Rather than cut out the bags, and drive around with a rebuild title, and need to find new insurance (State Farm will not insure rebuilds), I decided to let her go. Being unemployed, I needed the dosh to make mortgage.

So, I bought a used pickup truck and gained about two more months of life with no income. (yea, the job market reaks). So, I drove that - I didn't much like it, being an older, not-so-reliable jilopy. Finally, I got a job and got myself back to stability, financially. A refinance of the house filled in the hole of debt, and I was in good shape.

After that, I finally landed a GOOD job that paid me closer to what I was worth. I found myself finally on the upswing of things. But a new car was still some time away, to be financially responsible. Day two of the new job, the truck's transmission dies. Yup, late on the 2nd day. Prior to this, I had been looking around, checking out new cars, not yet knowing much about the Prius. Within two more days, I drove my new Prius home (and yea, I got a little rash after the post-MSRP bump).

I decided that normally, I wouldn't have moved so quick, but I just could not in good humor put money into that truck I so desperately wanted rid of. I think I made the right choice. It made finances a little tighter, but I actually got a REFUND from the insurance company for a vehicle classification change, and from what I saw of fuel costs (old job was a 35-mile commute, new one 10 miles).

I don't regret it at all. When I went to the dealer, they had one on the floor - #9 - ready to go. White, but the color didn't bother me that much. The burden of dealing with the truck in general, let alone the transmission nightmare was enough to make it worth it.


I'm not saying "just do it" - I'm saying take a look at things both ways. What if you held out, and brought the MR2 back? What's the time and effort? The cost? What does this get you? Would you miss the Spyder? - Do what you feel is best. If it is not financially possible to do something, don't do it. If it is - then it will work out. The right choice is the one that would make your life happer on the whole.

 

what's that Meatloaf song
I gotta know right now what's it gonna be YES or NO

 

Dear Danny,
I too am sorry to hear about your car and can understand what you are going through. In April 2004, I took my Mazda in for a wheel balance and came back to pick up my car from the service shop only to find a blown engine. They claim a rod went through the engine on the test drive back to the shop. (They never took any responsibility to fix or compensate us) Long story short, I was out my primary car, the repair was going to cost $11,000 (Mazda dealership) and so I found someone who got an engine from Japan and had my car fixed. (This is what prompted me to go on to the Prius waitlist.) I got my car fixed in June and was out $3000 for the engine and labor and another $1,000 for a second hand car I bought that died after two days and car rental cost for the two months. It was a horrible time and my Mazda is not the same althougth the rebuilt enginge is guaranteed for three years. The difference is obvious and I'd love to have my car back, the way she was but it just ain't gonna happen. The only bright light was when my Prius finally came. It was worth the wait and is worth the $$$. Our gas savings alone makes the decision to get the Prius worthy and we don't need to worry about a sick car getting worst. An unexpected and needless expense but I know my resale value on the Mazda is worth the paid repair cost and I have the Prius which is wonderful. Whatever your decision may be, I just wanted you to know that there are folks who understand your predicament and will keep you in our thoughts and hope that you can find the strength to cope with your difficulties at this time. And through it all maybe a Prius will find herself in your garage soon!!! Good Luck!!

 

Hi Danny. A reall pain in the Butt with the MR2. I also had one before the Prius, and I got rid of it because of the common pre-cat failure.

Now, depending how old your MR2 was, you may be able to get MR2 to give you a new engine as it is a very common problem. They tend to blow around 60Tkm or so.

If MRT wont pay up or replace, you should be able to get an enginne from a scrap yard for a few hundred $. Apparently its not a major job to swap the motor, and you could then sell it to get your Prius. Take a look on www.mr2roc.net (a uk based group) and search for pre-cat. there are a lot of articles which may help you.

Victor

 

Danny: So sorry to hear of your misfortune! Toyota ought to give you a Prius, for all the free promotion they get from the existance of PriusChat. Aside from that, I share Dave's philosophy: I don't borrow; if I cannot pay cash, I do without. Borrowing to buy a house is somewhat different, depending on the local economics of renting vs. buying. But there are far fewer ulcers in saving up to buy something than in paying off a loan.

 

Danny,

Sorry to hear of your car troubles - I agree with everyone here that you are one of the most deserving people to own a Prius. I hope whatever path you decide to take, that it's the best solution, and I know, as we all do, that once you do get your Prius, you won't ever regret it!

-m.