New or used?

Here in Michigan, it seems that if you want a Prius NOW, you can buy a CPO unit from the dealer for the MSRP of a new car with the same trim level and drive it home today. If you are willing / able to wait 1-3 months, you can get a new Prius for MSRP. I chose to buy new and hence, I'm waiting. It's your choice.

 

Everytime I buy new I kicks myself for getting robbed at a dealership but this is usually for American cars. In 2001 I bought a used Corvette for $34k vs. $50+ for new and the car was flawless. Your just have to be patient and do your research. If you can find the right used car your stand to save $3k or more and that buys a lot of gas in a 50mpg car! If your went with a Genii your can save $15k but I understand some don't like the Geniii. I installed a stereo for a local guy who bought a high mileage genii for $9 k and it was in excellent condition.

 

I just went on kbb.com and they list the value of a 2010 Prius II that is certified pre-owned by the dealer with 14,188 miles on it as $25,755.

Is that more than what a new 2011 is running? Is it the perception that you will always get a better deal buying used, so that's what people are searching for, and the dealers/sellers are taking advantage of that by jacking up prices?

Anyway, I am happy with the purchase and don't feel I got "screwed." I guess that's what matters...

 

I should have stated that buying used is a deal when you avoid dealerships. Private sellers are usually cheaper.

 

I found that in my shopping for any high MPG late model (current or previous 1-2 model years) Japanese car in the past year, buying new was a better deal than used. I could have saved a few $$ with used, but with less warranty and unknown issues. Granted, new cars can have issues, too, and some would argue that a car that's been on the road 1-2 years with regular dealer service would have all the issues worked out.

 

Even though I may have paid a premium for the 2010 II, I was also able to sell my used Nissan Xterra for a premium too. It was a 2005 with 99,495 miles on it and it sold for $10,000.

I only paid $14,000 for it in 2007 when it had 49,000 miles on it. Not a bad depreciation hit. $4,000 difference / 4 years = $1,000 cost per year / 12 = $83 "actual" per month car payment.

 

I think I've been very lucky with both my used Priuses (and both had been fleet cars). In both cases, the need to purchase without waiting led to getting used cars, each one priced above what a new one would be - but, I couldn't wait.

In 2005 I bought a used 2004 with 13,000 miles. It had been a ZIP car in NYC. I was very happy with it until it got totalled this June with 120,000 miles on it. The insurance gave me over $10,800 for it. Needed an immediate replacement, and found a used Enterprise Rent-a-car (2010 with 30,000 miles). We were on vacation in Colorado, and drove back to New Jersey (1850 miles), and had an absolutely delightful drive (5 days with mpg of 47.5, 47.5, 49.8 and 49.9 - using cruise control at approx. 3 miles over speed limit all the way.)