Never owned a Prius, help buy a used 2nd Gen.

One thing you have to prepare for is the hv battery failing after 10 years. Although the 2004 sounds good, it may need a hv battery replacement shortly. Are you not worried about cosmetics on the car?

 

it's a crapshoot. the '04 is built like a tank, but the battery in any case can always go south and your warranty is up.

you should be prepared to spend $500. - $3500. depending on how you would tackle it if it went down.how long do you plan to keep it?

 

I think an original owner 2004 is a good choice, assuming the maintenance has been kept up on it. If you have $7000 to spend, save the remaining amount for the replacement battery when needed.

Unless you plan to keep the car garaged for the remainder of it's lifetime, you'll probably run into the flaking paint/clearcoat beyond the hatch, hood and roof areas. The hot California sun will soon make the entire car look bad....especially after 10 years old.

 

these are really just personal choices. i prefer newer, but not everyone does or can afford to. my daughter has my old '08, close to 100k, no problems, but that doesn't mean she won't have. at least she has 3 years left on the battery warranty. have you considered other cars?

 

What are you leasing now, and how much is the residual on it? Purchasing it is not an option?

 

i would shop yaris/corolla/camry, just to see what the hybrid premium is. find something similar and compare cost savings vs gas savings at your miles per year. not trying to scare you away, but once you hit the 10/150 warranty, you want to be prepared for the small possibility of battery replacement. better to go in with your eyes open, even if it is toyota.

 

I would offer $6,500 plus tax, etc. after seeing the repair invoice for the new traction battery from a Toyota dealership. Make sure the "new" battery is not actually a "remanufactured" battery from a fly-by-night place.

Kelley Blue Book

 

In your negotiations, just mention that Toyota is about to come out with its next generation Prius and is offering mega deals on new 2015s. That depresses all used car prices down the line.

 

The paint on the 2004 is delaminating and will continue to do so. New paint on top of it will last a few years (just beyond the shop's warranty) but you'll be right back to where you are today. To do it right the old paint has to be stripped off.

I wouldn't spend the money to restore a 2004. If money's that tight I wouldn't spend it on a cheap paint job that's going to last a few years. Different story if you were going to sell the car in a year or two.

Every Prius will have the balance of the 10 year/150000 mile warranty on the battery. A replacement battery from Toyota will have a 1 year warranty.

Options should also be taken into account. I'd go for the lower miles. Register the VINs at Toyota Owners Official Web Site: Service Coupons, Owner's Manuals, Service Scheduling And More to see the dealer service records.

 

Unless it includes some comprehensible and decent warranty backing I don't place a lot of faith in a used car dealership "inspection or check".

Before you buy, it's how great the inspection is, AFTER you buy? If you have some problem, it's ....."Well you did buy a higher mileage used vehicle"....so unless the check is coupled with some type of warranty backing, I wouldn't value it very highly.

Therefore, with a budget I might be inclined to buy the lower mileage vehicle with cosmetic damage from the private party. I would however use some of that "savings" to get the vehicle checked out independently at a dealership. In that case, you're paying them for the inspection, and they don't have interest in selling you a vehicle, just perhaps gaining you as a customer going forward.

I might be a little prejudiced in this area, as I once bought an older used Honda Accord from a dealer who presented me with the fabled 60pt inspection, with all the systems and areas supposedly checked out. Once purchased immediately discovered it needed a new axle. Even though supposedly front end suspension had passed.

I complained that their used car inspection had "passed" the front end, and I would think something as obvious as an axle would of been checked and caught. If I remember right, the dealership did supposedly discount me some on the repair. In the end, this "checked out" vehicle cost me the cost of buying it, plus about $1000 dollars more in almost immediately discovered further repairs.

The only upside was once I did get it fixed up, as a Honda it was very reliable for the next 6-8 years I owned it. I probably did everything wrong in purchase EXCEPT for ultimately buying what was a good product. You live and learn.

But anyway, it soured me on valuing older used car "inspections" as having much if any value outside of just being a selling tool of most used car dealerships.

 

with a private party, you still have tax and possible title/registration if it's due.

 

You can't avoid tax. Unless you register in Arizona first and it's in your name when you bring it into CA.