Trading in an '07 for a '10: Worth It?

As someone who acquired a '10 Prius to replace an '86 Accord, and still has a late '80s and a late '90s vehicle in the household, I just can't see the economic sense in trading in any car less than a decade old that is still reliable and filling a needed function.

Keep it.

 

Most likely you won't have an expensive repair with your '07 Prius. They are known to be very reliable from many reputable sources - Consumer Reports included.

If I keep mine past 3 years, I won't buy an extended warranty. Enough went into purchasing this car.

 

Even Toyota Sunnyvale, a very reputable dealer, indicated my 2009 with only 13k miles, package 5, would fetch only $16.5k on trade in. They take the middle, good, trade-in value and knock off ~ $400 from that. What a waste that amount would be - in August 2008, the arrival of first 2009's, it was $27.5k which is $30.4k out the door.

$13.9k lost for 13k miles driving? No way Jose.

 

+1 especially if they like it. If not, well, gotta do what you gotta do eventually. Not worth being miserable.

 

Basical the only reason to trade a car in for a new is because you WANT a new one ( in 95% of the cases)
It is almost always cheap to repair

 

I recently had the same dilemma on an 08 Prius IV(35K miles) with lease expiring this November. (Buyout was $14K) I was very happy with the 08, but the 0% financing on the 10 Prius was tough to compete with. By going with 10 Prius IV (I had to have back up camera and automatic doors on 3 sides) our monthly payments on the new lease actually dropped. I know, in general leasing is not the most financially savvy decision, but it works for us for right now.

Don't go down to a Prius II. You'll miss the backup camera and autodoor locks on 3 sides.

Since our 08 was in great condition, I couldnt justify letting it go to the dealer. Trade in value was about the price of the residual, and the dealer could have sold it for at least $3000 above that. Instead I worked hard to see if any family or friends were interested. (Its going to a relative, so I feel much better about that)

Loving our 10 Prius IV. Upgraded to leather and nav. (We should have gone solar, not too bad of a price difference relative to "just nav") What other cars out there do you know that have solar? If your budget allows for it, its quite nice having a new car with the peace of mind that its covered under warranty if anything goes wrong.

 

If your current car only has 34K miles on it then you can drive it for many more miles with no problems. Check out the thread for owners who have put over 200K miles on their Prius. With most hitech products after you make a purchase there is something new and more advanced coming out later. If you get a 2010 there will be something better coming out a couple of years later, ad infinitum. Someone I work with has 130K trouble free miles on his Prius. Good luck.

 

Do you buy top of the line tires well before they need to be replaced? After all, it could prevent a single mortality. Maybe.

I think OP is throwing money in the toilet personally. If he broke down the cost per mile it would be laughably high to replace it with so few miles.

 

don't trade! I traded in a perfectly good '05 Prius for my '10 and I regret it every day! I got better gas milage in my '05 without even trying than I can manage in my '10 when I try and all the "upgrades" that I got with the '10 don't even work like they should (i.e. usb port with ipod). I WISH I would've kept my '05!!

 

Sometimes to get the TRUE answer to your question, you have to ask it in reverse.

Here's the deal: "I will give you $10,000 in cash to NOT trade, and keep your car"

If you say "NO", then it is worth it to you to trade, and buy a 2010.

......but......

If you say "YES", then in your mind, the money is worth more than a newer car, and you should keep your current ride. Because it will end up costing you about $10,000 (maybe more with financing and tax) to trade in, and buy the 2010.

 

Now that is a sad story. Sorry Amber.

 

Hmmmm, that's odd with your '10. Typical journey in '10 like this - MPG average in high 40's (48) going uphill to Skyline Blvd. Once back into the city, it's reading about 53 MPG average. The '10 has always been a few MPG's better than my '09.

anyrate, back on topic ...

keep the '07! Save the money! (talking to self as well .. built my own seat to get out of selling)