HBC Prius: 8/14/08 Buy 2008 now or wait for a 2009??

[alexandra's second prius]

Hi everyone –

I could really use some advice from you all as I have to decide quickly – thanks!:
1) If I buy a 2008 next week, will it be worth less than a 2009 bought 2 months from now when it comes time to buy a 2010?? (fingers crossed I can swing that!)
2) Will a 2009 option 2 cost more than a 2008 option 2 (~$24,400)?
3) Does the 2009 have a manufacturer’s rebate?


I came into this dilemma sadly when a drunk driver totaled my lovely little 2004 silver Prius about a week and a half ago (HBC = hit by car :<). I can report that she kept me safe however!

I put a (refundable) deposit down on a 2008 SPM option 2 for $24,400 (MSRP + a $2K Manufacturer's rebate on 2008s) that will be delivered next week. Would've preferred another silver (she always looked so clean, was more visible/safer than other colors & the anonymity wasn't always bad as I sped around!), but the dealer just happened to have this one released and took pity on me. He also warned me that he didn’t know whether or not the 2009’s would have the $2k rebate and I saw on another thread that 2009s might be $500 more?? Either true?

However, I really had my heart set on keeping my 2004 and buying the 2010 version next winter, had the accident not happened. I might still want to trade my 2008/2009 car in for one when the time comes, hence my dilemma on whether the model year will truly detract from its value.

I know that right now the model year doesn't seem to matter so much as the mileage when it comes to what the dealers are selling used Priuses for, however, one dealer wanted to add $5K on top of the MSRP (with a straight face!) just because the demand is so high.

Will my end of year 2008 hold it's value or should I wait for the 2009 with an eye towards getting the most I can should I decide to trade/sell it for a 2010 and just take the bus to work for a few months (adds on ~45 min each way - I'm so spoiled!)

What think you all?
Many, many thanks for your help!!
--Alexandra
Arlington, VA

PS – Since my insurance is allowing it, I'm going to transfer the auto adjusting mirror from my first Prius to this new one, and possibly the 6 CD changer but the dealer didn't know if the back up camera would not allow it to fit in the console. Any advice other than saving as much wire as possible? Thanks!

[David Beale]

1. There will be no "manufacturers rebate" on the 2009, until they are also being cleared out for the 2010 models, so late next spring.

2. I am not aware there is a rebate on the current 2008 models. They are pretty much sold out, and when that happens rebates are imaginary. Perhaps the dealer is giving you something that doesn't exist to help you make up your mind.

3. The 2009 Prius will have a slightly higher price (around 1-3% as I recall - do a search on this forum and Priusonline - the prices were posted).

4. If you can wait "a few months" try waiting a few months more. The 2010 will be available in Spring 2009. It WILL be more expensive than the 2008 you are looking at buying.

5. While I wouldn't discourage anyone from buying a 2010 model, be aware it is subject to the normal "first model year" teething problems many cars have, including Toyota cars. It may be fine, it may not.

6. "Trade up" value is determined by:
a) Model year - older is lower
b) Mileage - higher is lower
c) most important - demand - higher is higher
Expect high demand when gas prices begin to climb again (and they will)!!

7. Other than "trade up" value, the 2009 is the same car as the 2008, last I heard. This makes sense, as it's only a 6 month "place holder" until the new model 2010 comes out.

[sorka]

There's no chance the 2010 will be available in Spring of '09. It will only have just been announced at that point and will be months before it actually comes to market. I wouldn't count on being able to get one until late 2009...maybe as early as September.

The '09s will be hitting port in one month. Expect 5 weeks before they hit dealer lots. I suppose two months is realistic if you're in a remote part of the country where port to destination is really long and you're not getting one of the first.

'09s are $500 more than '08's after '08s April $400 price increase. Some dealers are scamming customers by claiming that the $500 price increase went into effect on 8/1 which is total BS.

[Kcissem]

Originally Posted by sorka

There's no chance the 2010 will be available in Spring of '09. It will only have just been announced at that point and will be months before it actually comes to market. I wouldn't count on being able to get one until late 2009...maybe as early as September.

.

I'm not so sure you are correct as it was said that the 2010 models will be available on the USA car market sometime around April of 2009 although i'm sure there will be a 4 to 6 month waiting list before the 1st 2010 hits the showroom so in a sense you'd still be correct either way

[brick]

I don't think 2008 vs. 2009 will matter much. If you need the car now then you may as well pull the trigger now. The other option that you might consider is to buy something relatively inexpensive and used (i.e. something that has already depreciated from new) that you can live with until the 2010 model is available. That would likely save you some money, especially if you are likely to trade-in rather than sell the car yourself when you upgrade.