Am I missing something here???

[Stranger]

For the past two or three months I have been agonizingly debating within myself and with my family on whether or not it is better for us to sale our Ford F150 SuperCrew truck and buy a Prius.

Attached is a cost analysis that I've came up with. I know there are some very smart people on this board, so I ask those that have the time to take a look at it and see if there is any other rationale that I'm forgetting.

. . . some background info: I have a buyer interested in purchasing my truck for $19,000 ($3,000 more than I owe). If I do sale the truck, I plan on putting that money down on the Prius. I know I could purchase a less expensive model Prius, but if I order one, we will keep it for a long time so we want to get one fully loaded.

Regarding my truck, I LOVE everything about it, except the gas mileage. That, plus the fact that we're moving to Los Angeles next August and I keep reading that I'll be able to drive in the HOV lane which will allow me to save some extra time are[attachmentid=1655] the main reasons we're strongly considering the Prius.

Our ten year old son is a budding actor that has just finished shooting his first independent movie in Nashville and has been offered contracts by two agencies in L.A. My wife will probably use the car to take him to many, many auditions (we hope!!!). If she doesn't use the Prius, then she has her Honda Odessey to drive.

Any feedback will be greatly appreciated, especially since the guy that want to buy my truck is supposed to come over today for another look.

[efusco]

Originally posted by Stranger@Dec 31 2005, 11:18 AM
For the past two or three months I have been agonizingly debating within myself and with my family on whether or not it is better for us to sale our Ford F150 SuperCrew truck and buy a Prius.

Attached is a cost analysis that I've came up with.  I know there are some very smart people on this board, so I ask those that have the time to take a look at it and see if there is any other rationale that I'm forgetting.

. . . some background info:  I have a buyer interested in purchasing my truck for $19,000 ($3,000 more than I owe).  If I do sale the truck, I plan on putting that money down on the Prius.  I know I could purchase a less expensive model Prius, but if I order one, we will keep it for a long time so we want to get one fully loaded.

Regarding my truck, I LOVE everything about it, except the gas mileage.  That, plus the fact that we're moving to Los Angeles next August and I keep reading that I'll be able to drive in the HOV lane which will allow me to save some extra time are[attachmentid=1655] the main reasons we're strongly considering the Prius.

Our ten year old son is a budding actor that has just finished shooting his first independent movie in Nashville and has been offered contracts by two agencies in L.A.  My wife will probably use the car to take him to many, many auditions (we hope!!!).  If she doesn't use the Prius, then she has her Honda Odessey to drive.

Any feedback will be greatly appreciated, especially since the guy that want to buy my truck is supposed to come over today for another look.

[snapback]182022[/snapback]

Couple of things strike me as 'off'...
1)$31k for the Prius? That's about $3k too high--where did you get that price?
2)Would seem appropriate to subtract an additional $3k from the price of the prius due to the Profit on the sale of the F150.
3)You didn't figure in the $3150 tax credit.

To me, that reduces your base cost of the Prius by about $9k

[Stranger]

The price was the package 7 including tax, tag, etc. The dealership is quoting the MSRP, but once you add in the additional costs, it add up.

FYI . . . . I just called a local Toyota dealership and they have a '05 package 6 (white w/beige) on the showroom floor and a silver '06 package 7 that aren't reserved!! I'm on my way to test drive one now!!!!

[Leo]

Originally posted by Stranger@Dec 31 2005, 01:18 PM
Any feedback will be greatly appreciated, especially since the guy that want to buy my truck is supposed to come over today for another look.

[snapback]182022[/snapback]

It seems to me you should factor in the estimated resale value at the end of the period of ownership.

[Venturer]

If it were up to me, I would keep the super crew, have the wife drive the minivan and not incure any more debt. It would take years to save enough money on gas to offset the additional debt to buy the Prius and after having one for 7 months, they're are not worth the price. If you are set on selling the supercrew, then buy a mid-sized car that gets 32-35 mpg for about $16,000 and put the $3000 toward it. Then your debt is $13,000. Keep your payments high and have a debt free car in a couple years. The amount of money saved would buy all of your gas for several years. If you REALLY look at the Prius objectively, it's not worth price.

Regards, Doug

P.S. There is no greater satisfaction than having no monthly payments on anything, especially a car.

[Stranger]

Venturer,

Your line of thought is exactly what we're agonizing over. A sincere thanks to you for your honest opinion of the cost of the Prius.

[Tideland Prius]

Yeah, but he's keeping it for a long time.

[efusco]

Originally posted by Venturer@Dec 31 2005, 12:19 PM
If it were up to me, I would keep the super crew, have the wife drive the minivan and not incure any more debt. It would take years to save enough money on gas to offset the additional debt to buy the Prius and after having one for 7 months, they're are not worth the price. If you are set on selling the supercrew, then buy a mid-sized car that gets 32-35 mpg for about $16,000 and put the $3000 toward it. Then your debt is $13,000. Keep your payments high and have a debt free car in a couple years. The amount of money saved would buy all of your gas for several years. If you REALLY look at the Prius objectively, it's not worth price.

  Regards,  Doug

    P.S. There is no greater satisfaction than having no monthly payments on anything, especially a car.

[snapback]182047[/snapback]

Excellent point! And I should have appreciated that when the dollars and cents spread sheet was put up.

Clearly if financing is going to be a strain you're better off avoiding debt.

Originally posted by Leo@Dec 31 2005, 01:05 PM
It seems to me you should factor in the estimated resale value at the end of the period of ownership.

[snapback]182044[/snapback]

Hi~ I have to disagree w/payments, sorry I am the most unmechanical guy I know. I gladly pay to have a quality car w/a warranty!!!!!!! Now that my 2002 Aztec's warrant expired I've had to deal with extra mechanical stuff...YUK! I save STRESS probably more than $$$ but I also teach my kids about the gas chrisis, affordability and need instead of over luxuriating vehicles.

The dealers wanted to give me from $7000-$8500. on my Very clean, loaded trade!??! I'm getting $9500. privately. Plus the Prius dealer is writing her contract and taking $1500. OFF!!!!!!! either the 7 or 8 pkg.!!!!!!! I live in western, Md. If u'd like the dealer let me know.

Also, I have been writing responses and inquiries but I don't see any. Can anyone help here? Thanks!
Barry

[priusblue]

Originally posted by efusco@Dec 31 2005, 02:30 PM
Excellent point!  And I should have appreciated that when the dollars and cents spread sheet was put up.

Clearly if financing is going to be a strain you're better off avoiding debt.

[snapback]182055[/snapback]

This is very true. If the truck was paid off and you were going to be getting all profit for it, or if it was near the end of its usefulness, it would be worth it. I hate nothing more than having a car payment.

My situation was more straight forward - I am driving until Monday (when I pick up my Prius!) a long ago paid for '95 accord with 200,000+ miles on it. And my husband can use it to commute in instead of his GMC Sierra, at least until the Honda dies! We'll be getting a double MPG improvement! I plan to keep the prius 10+ years and pay it off as quickly as possible.