If You're On The Fence About Buying A PIP.....

i'm seeing more PiP on the road nowdays.
anyone looking for prius 2 / 3 should consider PiP instead over at NY/NJ/CT area.

 

This really kills the resale value of used Plugin cars though. A $32k msrp car a few months later with only 7k miles was worth $21k, told to me by 2-3 dealers.

Cars depreciate, but that's pretty heavy in a couple of months, not even a full year.

 

my head is going to explode.

 

There are still some 2012 model left in MA. $5000 rebate on a basic PIP with 0% financing....

 

we should talk about reliability rather. depreciation has hit us hard with the incentives, and toyota is probably going to continue this heavy-incentive strategy in order to push more sales.
depreciation is heavy for first 3 years (espcially 1st year), but if it's reliable that can be reflected to the depreciation value down the road (5years+).

lease on PiP is cheaper then Prius 2 at ny/nj/ct. why would anyone even consider leasing prius 2 if they can get more for less?

 

At what price will the PIP stabilize? If today a used one with 10k miles, base, is worth no more than $21-22k, how about next year with 20k+ miles? Surely it can't go too far under $18k already, for a 2012 car costing more?

 

i love my pip, and will never let it go until toyota comes out with something better. but this was probably the worst financial decision i have ever made in my life. nobody's fault, who would have thunk?

 

I've had an 85 mike commute for the past six years. With my PiP, I can get home by 6:30 or 7:00 for the first time in years. I'm not trading this car in.

 

Like all things purchased, you don't realize a profit or loss until you sell. All Prius Plugs are no more than around fourteen months old max and most, much less. Very few would be hard pressed to sell anytime soon. Only those that purchased at full MSRP should be remotely concerned. I benefited from the same incentives on my new 2012, that will drive down the price of a used PIP. No one is safe, and I think we'll see lower prices on all used hybrid vehicles. With dollar cost averaging, the longer you keep it, the cheaper it becomes. Best to have this discussion in five years.

 

They are, as we would say in the UK, like rocking horse manure over here! I've seen mine +1 so far...

Wonder if it's to do with the fact that they list at £33, 245 (a fraction under $50K)? Even with the £5,000 incentive they are still $42K

 

No! Don't buy a PIP if you live in NY- specifically Eastern Long Island!
(I have a hard enough time getting to the local Chargepoint station without any PIP's blocking me out now too )

 

if purchasing PiP was worst financial decision you ever made, it's not that bad.
i do agree that purchasing PiP with limited amount of incentive or none at all was poor financial decision.
reminds me off selling appl when it wasn't even $100 (I KICK MYSELF!)

There is limited amount of demand on PiP, but there are also very limited amount of supply for used PiP as well.
Only small percentage will be willing to let their PiP go with huge financial hit.
One must also understand that PiP owners bought this car for a reason (they could've bought regular prius - could be incentives / plug in capability / hov lane access), andmost likely will keep the car thus leading to small supply for used PiP.
Sample size is too small to predict 5 years down, but we should at least do better then Prius 3.

 

OK guys ... I feel the opposite. Deals always get better after the first wave of "gotta have its" happens but in the case of us Californians, we wanted into the HOV lanes A S A P ... and I too missed out on 0% apr's and better selling prices in a surprise high volume of these cars that were shipped to CA as other states turned them away.
Who knew?
I still wouldn't trade my months of passing traffic and breezing by bottlenecks at accidents and 405 freeway roadwork .. not for any amount of $$$$.
And, a tad more than 10 months later/ coming up on 28K miles on odometer (I got mine May 9th, 2012) I feel like it's the best Prius I ever owned. Even after 2 flat tires and yes, even when I get "Entuned" (lost by bad Entune directions) ... I still love this car.
If you make it about the money, ya may as well have had a damn Yaris, fewgawdsakes.

 

Where do I find out information about incentives offered?

 

And if you don't live in a high incentive state just find a Manhattan Zip. The incentives are based on the dealer Zip, not the customer.

 

West Virginians really gotta snap these up if $7500 tax credit still there!!
Maryland just lost their $2000 incentive due to funding shortage.

Virginia I am thinking Toyota may have to really reduce Prius prices because of our high property taxes and we should hear by Monday if we have a new $100/yr fee on hybrids. I have not run the exact calcs yet, but I am thinking tax difference (net cost) on a PiP, equation is VA PiP - WV PiP = about $12,000, and some people commute here from the WV panhandle so they should zap these up. Almost worth moving.

My 2006 is only 15-17% depreciation using the equation Value = Cost x (1-Depreciation) ^ yrs
using NADA book value (which VA uses to assess annual car taxes). This means a standard Prius could pay about $5000 taxes+new fees in VA. PiP seems to show much higher depreciation maybe 25%, which helps here on the taxes. Maybe 3-yr old PiP is way to go in VA if prices go down fast.

 

Coming down here? Yes historically VA has had a problem with annual car taxes up to 5%/yr in NoVa.

This tax was so hated, that it was phased out to 70% relief under $20000 car value 10-yrs ago. But then they starting increasing them again, and now average new car is $30000. So you can be $1000/yr tax on a $30k car. Of course this drops with car age/blue book value. Nonetheless something like a Toyota HyHi which depreciates slowly, you gotta be kidding me on NoVa taxes. It's effectively 15% sales tax on a Toyota and 20% if the new $100/yr hybrid fee goes in. That's why the proposed new hybrid fee is so punishing.

I have delveoped a calculator if you want to try it. I will post if I figure out to post a calculator. Actually I found SpreadsheetConverter.com is nice we could post various calculations here.