Thinking of a cheap upgrade

[AndyMartin826]

Tell me what you think of this, if I'm just crazy or if it might just be crazy enough to work.

This all started when I took my wife down to the dealership on Saturday to put the deposit down for her new Prius, replacing the guzzling mini-van (we're tired of waiting for Toyota to bring out a hybrid Sienna...). She wants leather in hers, since she'll have the kids more often then I will and she likes how easily it cleans up. My cloth cleans up great too, but hey, she gets what she wants . So, anyway, she's going to get the package 6, bluetooth, nav, and leather. My 2006 doesn't have bluetooth on the package 4 (now equivalent to a package 2), so I am going to be jealous as hell since I'm the tech nerd of the family.

We started talking with the dealership manager about my 2006, and he said they just sold a 2005 off their lot for $25k. Mid-line package, no nav. Said he sees them go for that easy on craigslist, put it on there for immediate sale and you'll have a bidding war. Got me thinking. My 2006 is in great shape, a couple dings but nothing too noticeable. 19k miles (pretty low for a 2006). Package 4, so the single-CD player, no bluetooth, nav, all that stuff. I did the Coastal EV mod to it, and have a block heater. Lifetime average just under 48mpg, but I can consistently keep it around 54-56mpg now. Car's paid for, no outstanding loan.

So, what I'm thinking is that I put another $1000 down for a 2008 (heck, maybe wait a month and get a 2009 when they start taking orders for those?), and sell mine around the time when mine comes in, maybe a week or so early. Get a new 2008/2009 with package 5 (bluetooth and nav, I don't need the leather) for $27k and change (not including the tax, I guess), and sell my 2006 for $24-26k. So I get basically the last two years of use on the Prius for free (that's about what I paid for it then) and upgrade to a new one with the fun stuff on it for just a couple grand. Pay cash for it and walk away.

Am I out of my mind? What am I missing here? Sounds too easy...

[Bill Merchant]

That makes perfect sense to me, though you can't be guaranteed a particular selling price. It would give you the bells and whistles you want at not much cost.

BTW, I prefer cloth seats to leather. Warmer in the winter, cooler in the summer, you don't slide around, and the cloth cleans easily.

[AndyMartin826]

Originally Posted by Bill Merchant

That makes perfect sense to me, though you can't be guaranteed a particular selling price. It would give you the bells and whistles you want at not much cost.

BTW, I prefer cloth seats to leather. Warmer in the winter, cooler in the summer, you don't slide around, and the cloth cleans easily.

I'm the same way, prefer the cloth to the leather, especially here in the Arizona heat. But, our 6 year-old girl has a tendency to occasionally get car-sick. My wife fell in love with having leather in the family car starting with newborns for just that reason. But I don't need it in my car, I don't have the kids in it that often.

I'd probably put it out there at $25k and see what happens.

[patsparks]

Do it, if you pull it off fantastic!
What have you got to lose really? If you can't sell the old (if 2006 is old) one and need to settle a debt then sell the new one at a profit. I don't doubt you could do that when you are offering new and immediate delivery.

[freshmtt]

Sounds like a very good idea!!!

[KayakerNC]

Originally Posted by AndyMartin826

So I get basically the last two years of use on the Prius for free (that's about what I paid for it then) and upgrade to a new one with the fun stuff on it for just a couple grand. Pay cash for it and walk away.

The current supply/demand situation seems to have created an opportunity for you. Go for it.

[Highly ImPriused]

Great if it works, but I'd question whether anyone is really going to pay $24K+ for a 2006 with 20k miles when they can wait a month or so and get a brand spanking new one for a couple thousand more. Have you checked out craigslist or other resources (eBay?) yourself to see what people are actually getting in your area? That'd be the first step, I'd imagine.

Also, why not ask the dealer what he'd give you on a trade? The benefit there (other than not having to deal with selling it yourself) is that price of the trade is deducted from the cost of the new car when calculating sales tax (at least it works that way in NY). That alone could easily save over $1K.

[McDonald]

I am actually doing the same thing. Putting a deposit down for a 2009, when I hear that it is about a week away, I'm selling my 2008 to get my SPM Prius. I will hardly pay anything.

[HuskerMedic]

In Nebraska, you'd get clobbered for the sales tax.

[BellaInAZ]

Originally Posted by AndyMartin826

Tell me what you think of this, if I'm just crazy or if it might just be crazy enough to work.

This all started when I took my wife down to the dealership on Saturday to put the deposit down for her new Prius, replacing the guzzling mini-van (we're tired of waiting for Toyota to bring out a hybrid Sienna...). She wants leather in hers, since she'll have the kids more often then I will and she likes how easily it cleans up. My cloth cleans up great too, but hey, she gets what she wants . So, anyway, she's going to get the package 6, bluetooth, nav, and leather. My 2006 doesn't have bluetooth on the package 4 (now equivalent to a package 2), so I am going to be jealous as hell since I'm the tech nerd of the family.

We started talking with the dealership manager about my 2006, and he said they just sold a 2005 off their lot for $25k. Mid-line package, no nav. Said he sees them go for that easy on craigslist, put it on there for immediate sale and you'll have a bidding war. Got me thinking. My 2006 is in great shape, a couple dings but nothing too noticeable. 19k miles (pretty low for a 2006). Package 4, so the single-CD player, no bluetooth, nav, all that stuff. I did the Coastal EV mod to it, and have a block heater. Lifetime average just under 48mpg, but I can consistently keep it around 54-56mpg now. Car's paid for, no outstanding loan.

So, what I'm thinking is that I put another $1000 down for a 2008 (heck, maybe wait a month and get a 2009 when they start taking orders for those?), and sell mine around the time when mine comes in, maybe a week or so early. Get a new 2008/2009 with package 5 (bluetooth and nav, I don't need the leather) for $27k and change (not including the tax, I guess), and sell my 2006 for $24-26k. So I get basically the last two years of use on the Prius for free (that's about what I paid for it then) and upgrade to a new one with the fun stuff on it for just a couple grand. Pay cash for it and walk away.

Am I out of my mind? What am I missing here? Sounds too easy...

If you don't mind my asking, which dealership are you purchasing your new Prius from?