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Do prices drop each year when the new models come out?

Discussion in 'Gen II Prius Main Forum' started by DustimusPrime, Dec 9, 2011.

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  1. DustimusPrime

    DustimusPrime New Member

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    Hi everyone. I am looking into buying my first "new" (less than 3 yrs old) car in the next couple of months. After doing a lot of research I've decided that a 2009 Prius would be perfect for me, but they are at the very fringe of my price range. I plan to spend about $17,000 at most (hoping to stay around 16 if possible). So far, I've seen all of two 09 Prius' in the Seattle area around that price. Do the prices on cars typically drop when the newest model comes out? I plan on buying in Feb, which I believe is after the 2012's are out I believe, so I'm hoping that maybe there will be more options then? Any insight would be appreciated, and sorry if this is not the correct place to post this.
  2. bisco

    bisco cookie crumbler

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    they proly do, but you can do better with an 08 w/ 30-40,000 miles. it's a great year. all the best!
  3. Gurple42

    Gurple42 New Member

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    I would have to agree. The 08 model should be more plentiful on the resale market, so the price should be lower. Look at both years, check for books and records and get the lowest mileage car you can get. Have fun shopping, don't forget to try Craig's list and get your financing arranged in advance. Also try to find a hybrid mechanic to check out the car you think you want.:)
  4. Jaquimo

    Jaquimo Paraglider, Prius glider...

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    Yes the prices do drop after the new models are released. That is how we managed to get 2 GenII's for the price of one after the GenIII were released! :D
  5. Rebound

    Rebound Senior Member

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    If there's excess inventory, the prices drop. Sometimes dealers get unpopular color/feature combos, and they drop prices on those the most at year-end.
  6. DustimusPrime

    DustimusPrime New Member

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    Thanks for the information! I'll look into 2008s. My only concern is that I heard banks generally only do 5 or 6 year loans on cars that are three years old or newer. So that would make the payments too much for me.
  7. bisco

    bisco cookie crumbler

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    wow, don't get in over your head. those payments are not going to be very attractive after a few years.
  8. Southern Dad

    Southern Dad Active Member

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    In my area used Prii are pretty hard to find. Our two largest Toyota dealers each have two used Prii on the lot. Due to some bent metal, fluid loss and other not so good results from a mating of my Prius with another vehicle I'm checking inventories.
  9. Gurple42

    Gurple42 New Member

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    If you have to have payments that last over 48 months, you can't afford the car. Buy something cheaper. When you are making more money buy a Prius. In life owing interest is your worst enemy, interest owed to you is your best friend.
  10. sidecar

    sidecar Member

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    yes prices fall on introduction of new models, thats normal
    but out here, prices rise if fuel prices happen to spike up too
  11. DustimusPrime

    DustimusPrime New Member

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    Isn't a five or six year loan the normal length for a new car?
  12. bisco

    bisco cookie crumbler

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    i'd say five, but you're talking used. you are going to be making payments on a fairly old higher mileage car in the last few years. many people get buyers remorse after making a purchase like that.
  13. cnschult

    cnschult Active Member

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    Why someone would buy an 09 that looks like an 04 battles my mind, spend a little more on a 10, the interior is frustrating (nav location, missing steering wheel buttons and cup holders) but the exterior is a very un-toyota-like sexy.

    I don't understand, CEO Toyoda apologized for the blandness of past toyotas and then they reveal the 2012 models, the most rediculous display of blandness I've ever seen.
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