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New '09 or '10? In a buying dilemma

Discussion in 'Gen 3 Prius Main Forum' started by dominicsavio, Oct 4, 2008.

  1. dominicsavio

    dominicsavio New Member

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    My dealer called to let me know that my '09 Prius has arrived and selling at MSRP.

    What I am wondering now is, is it better to wait till the '10 model comes out (just ~7 months)?

    So far, dealers have been milking consumers and taking advantage of the situation because of low supply and high demand. I have hated every bit of this arrogance (although I think the Prius is a fantastic car - my wife owned two before we got married but this is *our* first one).

    My thought is that mid to late next year may be a much better time to buy a Prius (or in fact any hybrid) because (a) Toyota increases production hence more supply hence less waiting time if any + more choices of trim levels (b) more supply of used Prius (pretty much non existent on craigslist at the moment) (c) Increased competition by Honda Insight which would exert downward pressure on prices (at least a bit) on at least used Prius..

    Any experience/expert advice on this line of thinking?
     
  2. Santiago

    Santiago New Member

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    I played some of your "mental decision processes" and just bought an 09 Touring. Just having the ICE kicked from 1.3 to 1.8 in 10 isn't going to buy anything other than more gas consumption when the ICE is running unless they make it more efficient. I had an Acura RSX Type-S that got 210 HP out of 2.0 Liters and city mileage of 27-30 MPG. That is the kind of efficiency that the ICE needs in 10 and it isn't going to get it. I would suspect that the same basic design is in the works, just more displacement. The issue with a 10 vs. 09 for mileage improvement will be with the battery technology and I haven't heard any definite word that improved batteries will be available. You may be right with pressure from other hybrid offerings and the Volt but they may all be hard to get if gas starts its upwards spiral again.

    Not necessarily perfect wisdom but at least my 2 cents.:ranger:
     
  3. Betelgeuse

    Betelgeuse Active Member

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    There's going to be a lot of "should I buy or should I wait" discussion over the next few months. I think your reasoning sounds pretty good, but I also think a similar argument could be made the other way. I could argue that there is going to be lower stock of the Prius next year because the demand for the new model is going to be so high. I can definitely see some people wanting to "upgrade" to the newer model. I think that your comment about increased pressure from other hybrids (especially the Insight) shows some. . . eh hem. . . insight. However, I think the short version of the story is that no one really knows at this point. My guess, however, is that it's going to be hard to buy a Prius under MSRP before the end of 2009; I think the demand is too high right now and I think there will also be big demand for the new model.
     
  4. dominicsavio

    dominicsavio New Member

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    These are all valid points and there's obviously clear answer yet. I have the utmost respect for the Prius but I'm just thinking of the financials (assuming I am flexible with the timing of my purchase, which I am):

    1) By mid to late next year, there will just be more hybrids available - for e.g.
    a)

    I am also thinking in terms of purchasing *any* hybrird (which of course would be new+us
     
  5. dominicsavio

    dominicsavio New Member

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    oops, my earlier thread posted before I completed typing (quick fingers :)). But here is what I was saying anyway:

    I am just thinking of the financials (assuming I am flexible with the timing of my purchase, which I am):

    1) By mid to late next year, there will just be more hybrids available - for e.g.
    a) More used Prius because more people would presumably want one of the newer hybrids (Insight or '10 Prius) [the thing about Insight starting at a lower price is a whole different thread)
    b) Toyota increases production by quite a bit --> will again lead to more supply
    c) This will result in consumers being able to either buy a new Prius absent the ludicrous premium/arm-twisting by dealers such as premiums etc and/or buying a used one
    d) which of course will mean that the value of a new Prius bought today would depreciate relatively more compared to what the situation as been till now

    Keep in mind that I have the utmost respect for the Prius and am aware of its user satisfaction as being the highest. But from a financials + timing prespective, I cant help but think about this

    For e.g. over the past summer, as supply was tight, dealer's arrogance was through the roof. By now, it has eased a bit already (I already have had 3 dealers call me with unsold Prius' on their lots) and I only think this would ease out even more through next year...

    Any thoughts?
     
  6. Betelgeuse

    Betelgeuse Active Member

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    I think that, if you're flexible on the timing, it makes sense to wait. I've said that I don't think the demand-to-supply ratio is going to go down tremendously, but I also don't think it's going to go up much. I think that there is growing interest in hybrids but, as you pointed out, there are new hybrids coming to market and Toyota is ramping up production.

    One of the things I'm a little concerned about with the Prius is that there are some rumors that it's going to be a bigger car. Now, that may be a benefit for some, but for a lot of people, the current Prius is big enough (see the threads on "how much can you fit in your Prius"). If you don't need a larger car, you may want to consider the Insight. I think that Toyota and Honda are equally good car companies, so I'm hopeful of great things from the new Insight. It's also supposed to be cheaper, which could be a really good thing.

    EDIT: Ah! And one more thing! For 4+ years, there has been no true competitor to the Prius for people who want a hybrid sedan that gets great mileage. I think it's going to be a great thing for consumers when the Insight comes out; the Toyota dealers are going to know that you can go down the street and buy an Insight from the Honda dealers, which should give more power to the buyers.
     
  7. richard schumacher

    richard schumacher shortbus driver

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    Pay a deposit for one now and it will arrive in seven months. Problem solved :_>
     
  8. joe1347

    joe1347 Active Member

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    At this point, waiting seems to make more sense - especially given that the Prius will finally have some real competition (i.e, the Honda Insight). Toyota dealers will likely have to deal a little more next spring if the Honda is as inexpensive as promised. Also, the current Gen II Prius has been around since late 2003, one would think that the Gen III will be a significantly better car for around the same price.
     
  9. JimN

    JimN Let the games begin!

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    The 2009 Prius just arrived in September or August. I don't believe you'll find a 2010 next May. Hot cars sell for MSRP. Chrysler dealers made money on the PT Cruiser and Volkswagen dealers made money on the New Beetle for awhile. Increases in production & competition will lower prices if demand is constant. Gas prices over time will increase which will increase hybrid demand. You may find a buying price sweet spot in a couple of months or so but nobody knows what will happen a year from now.
     
  10. DeadPhish

    DeadPhish Senior Member

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    I think that 7 months is very optimistic. Yes the new 2010s are supposed to lineoff in April but I think that we won't see them until June or July in any quantity. Ready availability? IMO next Aug-Oct.

    If the Gen 3s are similar to the Gen 2s then the 'Prius Pioneers' will get first crack at the first ones to come here. Those buyers will receive a special email invitation to place an order directly with Toyota ( via their local dealer ) which will arrive before everyone else's.

    Then volume has to be ramped up to meet what will likely be a HUGE prelaunch interest list. On these threads I've heard of waiting lists on the 2010s already. These waiting lists have to be extinguished before there is the 'normal' 4-12 week waiting period.
     
  11. cycledrum

    cycledrum PSOCSOASP

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    I struggled with the 09 / 10 dilemma for a while, but figured this -

    The 2010 is not here, don't know exactly what it will be. There can be some quirks with a first year model. The 2004 had a number of multi-function display failiures after several years and over 40k miles. Not many problems overall though.

    The 2010 is a new generation Prius with nearly same battery technology. Apparently in year 2010, there'll be a new, new Prius with Li-Ion (I suppose) and maybe plug-in capability. Would you feel bad getting a 2010 if the 2011 was much better?

    It's a great thing Honda is coming out with the Prius copy (hehe), the Insight. Competition is good.

    The longer you can comfortably wait to get a new car, the better.
     
  12. catsbox

    catsbox Member

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    From what I hear, the 2009 is much like the 2008. If you want the next generation, hold out for the 2010 or 2011.
     
  13. JimN

    JimN Let the games begin!

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    The 2009 appears to be identical to the 2008. I suspect the 2010/2011 lineup depends as much on the competition as anything else. IMO: 2010 MY starts with new body, same batteries. MY 2010 1/2 upgrades the batteries. Timing depends on availability and performance of competing models most probably from Honda. If the current generation Prius continues to be the most fuel efficient mass produced car in the US Toyota doesn't have much incentive to introduce the next model.
     
  14. cycledrum

    cycledrum PSOCSOASP

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    One more thing, see what 09 Prius' are selling for in about January or February.. Wintertime, less driving due to bad weather, dealers maybe a bit overstocked, you get the picture. I wouldn't be surprised if the 09 prices drop a bit when the 2010 model is unveiled in January.
     
  15. dominicsavio

    dominicsavio New Member

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    This all makes sense. BTW, regarding direct competition from the Insight next year, is it true that the Insight will NOT have the capability of folding the rear seats (because the battery and IMA is below the cargo area - just like the Civic hybrid where I dont think you can fold the rear seats)...

    If true, this would of course make the current Prius cargo space unrivalled. Unless the 2010 Prius changes this so you cannot fold the seats (there was some talk that in this Prius, the batteries were going to be below the cargo area)....?
     
  16. Ct. Ken V

    Ct. Ken V Active Member

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    Hey, dominic,

    In the old 2005 Honda Civic Hybrid (the only Honda hybrid I'm familiar with from comparison shop'g before order'g my '05 Prius) the battery pack was in the trunk (it was a sedan remember) up against the rear seatbacks. So maybe you could fold down the rear seats (as you could in the non-hybrid version of the Civic), but even if you could, you would achieve no benefit in trying to carry oversize articles because the battery pack was still in the way. The IMA (Integrated Motor Assist---the electric motor) should be under the hood, not below the cargo area.

    Q : In the current Prius, where do you think the batteries are now? (ANS : Below the cargo area.) So why would that change whether or not the rear seats would fold down or not? (Just wonder'g out loud.)

    Ken (in Bolton,Ct)
     
  17. Ogo

    Ogo Prius Owner since 2008

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    Well, current Honda Civic Hybrid does not have foldable rear seats as battery placement forbids it. But Prius has foldable rear seats, event though has very similar placement of its battery. Few inches of difference in placement of the battery can change many things.
    And lack of foldable rear seats in current Civic brought many customers to Prius. ;)
     
  18. dominicsavio

    dominicsavio New Member

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    So after much thinking, I've decided to skip the '09 model and wait it out through the next few months into '09. Whether my decision is good or bad only time will tell but at least I'll have a choice of '09 OR '10....
     
  19. edgar

    edgar New Member

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    I had the same question, but needed a second car right away for a new job with a commute. Otherwise I would have waited.
     
  20. WWJD08

    WWJD08 New Member

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    other hybrids like the chevy volt are going to cost$40K and I would not buy the first year they come out. Honda prius look alike $??K
    I really Like the 2008 package 5 we bought, when its paid for it will of cost me $38K It was nice I paid $15.00 to fill up yesterday at a shell gas station.
    Toyota needs to upgarade those cheap Japan made Goodyear tires, Put a TOM TOM navigation system in it. The Carpet is very low grade looking and the seat cloth upholstery needs a few move upgrades and the cheesy seat adjusting mechanism is all manual.