Curious, is your Prius gen3 paid off by now?

Cash buyer.

 

Wow I'll break the mold! I just bought the car 2 months ago and I'm still 30k in the hole!

I have a 48 month at a 0.9% for anyone who's counting.

 

Not even close to being paid off and currently in no hurry to do so. I kept my money in the market and it's doing a little better than selling it off and paying off the loan. If the market turns, then I'll sell and pay off the loan. But until then, I'll just keep paying every month.

Mike

 

Cash buyer for our last two cars. I'm already saving for our next cars based on 10 year ownership. (I adjust as the MSRPs or "best" cars change and I ignore the resale/trade-in value).

I don't claim it's the best way but I'm not comfortable with debt.

 

I couldn't justify taking money that's earning, for instance, 6 percent to buy a car when I could finance that car for 0 percent or even 2 or 3 percent. I'd prefer to use someone else's money and let mine keep working for me.

 

Purchased our Prius Decemeber 2011 with only a $1000 dollars down payment. We received a 0% loan for 36 months and will have it paid off by the Summer of 2013. The joys of a dual income family with great credit and no kids(for now).

 

You can always avoid the hassle and pay MSRP AND buy the exterior protection, fabric protection, underbody protection, roadside hazard protection, pre-paid service plan and extended warranty. (And take what they have in stock, with the dealer-added "bonuses" tacked on.) No Hassle!

 

Everyone's opportunity to invest their cash is different, whether pre-paying the expense of a vehicle is a wise move depends on the other opportunities. Lately I have chosen leasing versus buying, mainly because the cost of borrowing has gone down enough that it doesn't cost much, if anything (because of inflation).

 

And pay with cash... lol

 

Cash buyer.
I suspect Prius buyers pay cash more often than others, or take low interest loans more strategically than others.
And I suspect folks on this website do these more often than other Prius buyers.

 

Wow are you ever picky, and cheap.

 

Another cash buyer.

 

Cash, I figured out a long, long time ago that if I did without or did with less for a while I could eventually buy a lot more stuff if I paid cash and didn't piss away money on interest. Current 0% interest schemes may change that for some smart buyers, but someone is paying for the use of that money so you might be able to negotiate a cash discount if you don't take the 0% interest offer.

 

Well until you have kiddos anyway....

 

I still got 2.5 years of payments left on mine.

 

Negotiating the best price and THEN asking for the 0% financing works--IF the financing is done by the manufacturer, and the effective discount you get from interest free financing is not charged back to the dealer. In that system, the dealer can't give a bigger discount if you don't take the financing.
That worked for us when we got our 2003 Subaru--I'm not sure how today's 0% deals work, so I don't know if it works now.