Wait a year to buy and save $$$$$

The Focus I drove was a standard sedan, with a 5 speed manual, and it listed (MSRP) for $16,995, which they were willing to discount to $16,000 even. The Hyundai was also a sedan, base model, with auto and air and all the other standard goodies. It listed (MSRP) for $18,400, and I could have bought it for $17, 350 .... so yeah ... a few dollars off, but not $3000.

Here's the sticker for the Ford ! Even with an auto, it would still be right at $17K.

http://www.inventory.ford.com/servi...f8bfe9346026b17b6760&pacode=00797&modelid=226

Here's the Elantras.

http://www.mullerhyundainj.calls.net/new-inventory/index.htm?SByear=2011&SBmake=Hyundai&SBmodel=Elantra&SBtrim=clear&SBbodystyle=clear&SBprice=clear&sortBy=internetprice%20asc%2Cmake%2Cmodel%2Ctrimlevel%2Cyear%20desc


If the Prius was available in a sedan, I would have bought it !

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That's too bad. A hatchback is more practical, and there is usually a "hatchback premium" that you pay for that practicality ($1800 for Focus, maybe less than that with Matrix versus Corolla, maybe more than that for Accord Crosstour). I like the hatch, but perhaps you had to pay for a feature that you didn't want.

 

I didn't mind .... I love my Prius, and I love that it's a hatchback, and would prefer it to the other two .... but not at $24K+.


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To keep the comparison between models by the same manufacturer, a YARIS is an economy car...the Prius is at least a notch above. ;-)

 

Agreed ... I'd compare it more to the Corolla, Civic, Elantra, and Focus, although in reality, it's probably a little bigger than those, and more well-equipped in base form of course.

I really love the Prius ... I just love it at $21K, not $24K+ ....

$21K is about my limit for a car in the Prius class, but that's just my opinion. To be honest, $20K +/- about $1K is about my mental limit for ANY car. Cars are so much a losing proposition I just can't spend much more than that. Had there not been so much money off the Prius with incentives, discounts, and special financing, I doubt I would have bought it ... I probably would have bought an Elantra.

Now that I have it, I'm REALLY glad I got it, but only at the price that I got it for, and I DEFINITELY wouldn't pay list price (or more) for ANY car .... EVER.

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I understand and somewhat agree...I think I paid too much in hindsight.

 

Maybe, but you have it now ... I look at it as I just totally lucked out in January. They couldn't give Prii away, and it was the middle of winter here in PA, so I got top dollar for my RAV4. I figure between then and now, it would have been a roughly $6000 difference in the deal, around $3000 in incentives and discounts on the Prius, and about $3000 less in trade due to gasoline going up like a skyrocket.

They still have my RAV4 for sale as a used car (for $18,400 ... they gave me $16,000 in trade) .... since January 12th .... ouch for them.

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+1
(well...maybe except for the Elantra. Nice car, It's just not for me.)

 

Perhaps comparing highway numbers, but both of those cars get well under 30 mpg in the city. City MPG comparisons are the only way the Prius ever looks like a worthy buy--but it can be because for many people their mileage will be closer to city than highway figures in general use.

I'm looking to get a used Prius now but the prices are up and I don't want to pay too much of a premium because I do think this spike is going to settle.

 

I save over $2000 a year in gas alone, compared to my previous car. (24 MPG) Even now it might cost more to wait a year than I save.

30,000 / 45 * $3.65 = $2433.33
30,000 / 24 * $3.65 = $4562.50

 

Well under 30 MPG? Perhaps for certain cases, but not according to the EPA's rating. 28 for the auto Focus, 29 for the Elantra. Mixed driving should put you somewhere in the low to mid thirties.

 

Closer to mid 30's I'd think.

The Focus is a very tight, very quiet, very solid, good handling car. Ford is now using most of it's European platforms worldwide, and it's resulted in FAR BETTER cars being available to the US consumers.

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A few months ago I was in the market for Prius but I could never get the options/color combo I wanted...so I waffled.

Well, the last few weeks I've been working all of the pacific northwest (Seattle/Spokane/Portland/Boise) trying to get just a Prius II in any color and it's darn near impossible. Cars that were going for $22.5K are now at $25K in the Seattle area, if you can find them. Alas, I won't pay a $2500 premium for a II in a color I can't pick...

On the flip side, I contacted just about every Honda dealer in those same cities trying to get a deal on an Insight; best deal I was offered was an Insight LX for $20.3K and an EX for $21.8K. (Note: Now that the LX has C/C, why would anybody pay the EX premium? Wheels? Heated mirrors w/integrated turn signals?). Anyway, the Insight ended up being just too small in the back seat for us...so I think I'm going to follow the OP's advice and wait this out. If VW wasn't price-gauging on the TDI Sportwagon (local dealer: $27.5K), I'd give that consideration...though the ~30mpg city is a big turn off.

 

Inflation is generally exponential growth not linear. Yes, bubbles always burst, because if they don't, they aren't bubbles. I agree with you that the current price jump is at least partly bubble, but my opinion on the matter is not worth much.

 

Who the hell would ? Only a fool would pay one cent over MSRP for any car, and I won't even pay MSRP ... EVER. I'll buy a different car first, and in the case of the two cars below .... save about $8K.

Take a look at the 2012 Focus sedans, and the base, but well equipped, Elantras. It will take over 10 years to make up the price difference in fuel savings. I know ... I figured it out about 100 times ....

Spend $17K ..... not $25K or more (for a $20K car).

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With these gas prices you'll save more buying now. Also interest rates are great right now, who knows what they'll be like in a year.

 

Elantra is pretty good, fueleconomy.gov gives it 33 mpg mixed.

I kind of just personally hate the idea of a small car that doesn't get Prius-like mileage. I guess maybe I've become a hybrid snob. I can't even really pinpoint why but I just think small cars should get 50 mpg or they are wannabes. I know the math may not support it, but there it is.

I realized after writing it what circular logic it was. What I meant to say was I think the oil run-up now is significantly a bubble. It's going to sideline the economy soon at this rate and then demand will drop and the price come down sharply. Just because I have a Prius doesn't mean i need to jump on the "we're gonna have $5-6/gallon gas soon" like some others do. I just don't believe it for an instant. Not yet, not for a couple of years at least.

I keep every day looking at Priuses used and the prices have gone stupid in the past couple of weeks. A car that was $10-11k is going for 13k+ quite easily now. Once in a blue moon somebody has a great price on them but for the most price just stupid prices. It's quite easy to pay $14k for one with a hundred thousand miles on it and 4 years old. In fact,that's a good price right now.

You saved big buying two months ago. Prices could (I think will) fall and that is the time to buy a Prius. Buying now is like buying a stock after it's already had a big run up and you have an expectation it's running hot. Of course, nobody can predict gas prices constantly and with great accuracy. So I could be wrong.

 

hard to disagree; prices will come down as they did in 2010 after gas dropped to 2.34$/gal, and there will be a lot more competition. Actually if you wait 'till 2016, Prius may not even be the most efficient car on the road.

however with 4$/gal, can you afford waiting? if you current ride gets 20MPG and you drive 2x of national avg, 1 year wait could cost you 2500-3000$ in gas money.

 

Hi Skoorbmax !

All good points. From what I've heard and read, the Elantras are getting VERY good mileage, easily beating the EPA estimates just like the Prius, although maybe not by quite as large a margin.

I was very impressed with the 2012 Focus, although it gets 38 MPG highway in standard form, you need the fuel miser package which includes LRR tires and full body underskirting like the Prius has to achieve 40 MPG highway.

Just as an example ... if a base II Prius is $24,000, and a Focus is $17,000 with auto and current discounts, that's a $7000 difference.

Prius at 50 MPG and 15,000 miles per year would use 300 gallons @ $4, or $1200 per year.

Focus at about 35 MPG and 15,000 miles per year would use 428 gallons @ $4 or $1712 per year.

This equates to a roughly $512 difference in fuel cost per year. If you divide the initial cost difference of $7000 by $512 per year difference, it would take 13.67 years to make up the $7000 premium that the Prius initially costs.

Now I'm not saying to do it or not to do it. As I said ... I LOVE my Prius and would never get rid of it, but when you get into other vehicles in the mid-30's combined MPG's, the payback is quite long when the Prius is selling at MSRP or above.

Something to think about. I have to admit, 50 MPG sure is nice, but the savings aren't as extensive as you'd think when the competitior is in the mid 30's. If you compare it against a 20 mpg car, the payback is about $1800 per year or 3.88 years. That's quite impressive, and that's at $4 per gallon gas ... it's shorter still if gas goes higher and stays there.

Of course these are just mathematical numbers .... there's no telling how much people would assign to actually owning and driving a Prius .... that could be .... priceless ....

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project gas prices to 6$ in a couple of years, drive x2 times as many miles a year and results won't look as bad