Curious, is your Prius gen3 paid off by now?

Back in the 20th Century, I generally put about half down and financed the rest over two years. This century, a car is paid off before leaving the dealership.

 

Mine is paid off. I put mine against an Equity Line and paid it off in about 2 years.

 

Paid cash for mine.

 

Was going to pay cash, but took a small 0% loan. I keep the balance in an interest bearing account "just in case."

 

Sold my 2007 M35 for $17000 and used $3000 of that to put down on the prius. Got a 5 year loan at 0.99% interest rate. Needed to build wife's credit so we didn't put all 17000 as down and took the 5 year loan. If we didn't need to build her credit I would have just used the 17k as down and took a 1 or 2 year loan.

 

Paid off in August!

 

It almost could be but I am saving the cash to hopefully build a new house.


Posted from my iPhone via the Tapatalk app.

 

Another cash buyer.

 

This must be why the Prius is one of the top cars in the wealthiest zips in America!

 

Saved up and paid cash for mine in February. Starting after the first of the year, I'm planning to once again start paying myself a car payment every month and start saving up for my next one.

I kept my last two vehicles for 11 years each, so that would likely put my next purchase in 2023.

 

Paying cash doesn't mean you're rich. My wife and I combine to make about 70K a year, we have two kids, a $900 mortgage payment and two paid off cars.

Just gotta make the decision you don't want to be in debt. It's not for everyone but paying cash for things doesn't mean you're rich. It's about saving up here and there to make it happen.

We would love to trade our gas guzzling Suburban for a Prius V or Sienna but after buying our Prius II we just can't afford it right now. Zero percent financing is tempting but anyone of us could lose a job at anytime and not having a car payment is one less thing to worry about if that happens.

 

Paid Off! Traded my 2007 Toyota Truck Prerunner which I bought used for $17,500 for $18,500, bought a used 2010 Prius for $18,500 OTD with only 10k miles on it. It works for me, I'm happy!

 

Great point! It is all about how you handle money and risk.

I purchased both the Gen II and Gen III with cash, and that has been our way for many, many years. I'm thinking of taking out a loan when we trade in the Sienna for our next new car. That could be soon, and it is being encouraged by those low, low loan rates. I'll make certain we have cash accessible, though, just in case!

 

Cash here but still paying on the wife's car.

 

I purchased mine on 5/5/12. I got a .09% loan. I pay double payments every month. I like to still have a nice cushion in the bank as a "just in case" It is nice looking at my loan statement and seeing next payment due - 5/17/13 when it is only the end of Oct. 2012. It will be paid off very shortly. I have always either paid cash for my cars or paid off my loan in half the loan time, or sooner. Oh and this is my only current car loan. My other car is paid for.

 

I paid off the loan a few months after getting the car. I have a small loan on the Ridgeline, but at .9% I'm not very motivated to pay it off quickly.

 

Another cash buyer here.

 

Paid cash for mine.