Should I buy a 2010?

I can't advise you on what to do- I can tell you that I LOVE my Prius IV. It makes me smile every time I get in it to drive it anywhere.

I love keeping the moonroof cover slid back so when at stoplights I can lean my head back on the headrest (unlike other cars I've had this headrest seems right!) and look up at the clouds moving slowing overhead. Amazing how many birds I've seen in the sky since I've gotten my IV.

 

Kev1000000, if you are a AAA member get a quote for the car you want on their website. Economically, it is cheaper to keep your '04 but car buying is an emotional experience. If you wait long enough "something better" may be available or circumstances will change so that in retrospect this was the best time to buy the car. Off the top of my head, I feel the trade offer is low. The dealer wants to make X profit. If the price of the new one is low the price on the old one will be lower to compensate.

Now, for the immediate future, this week is the best time to buy as the sales tax deduction expires next month and the price increase takes effect n February. Whatever you decide to do, work the best deal you can & enjoy the car.

 

How does the sales tax deduction work?

Also, I was planning to turn in my company car in March and buy a Prius. A local dealer made this offer:
"I will be able to get the 2010 silver prius and will take $500 off the msrp for you.Toyota isnt making #1 package in this country..The model 1223 is $23,499 minus $500 discount and we are also giving a $250 gift card if you buy before the end of the month."

If the dealer's offer is good enough and the tax break large enough, it might be worth buying it before the end of the year and my spouse could drive it until Spring.
Thoughts?

 

Go here:
Car Sales and Excise Tax Deduction: Questions and Answers

 

The dealer won't give you a good trade in value. It's better if you could sell it yourself. If you need the cash from your trade in then you need to accept what dealers are offering.

 

Have you looked at Edmund.com or KBB.com? This should help.

 

Another thing to ponder that most forget. When you trade in - you get tax credit (you only pay tax on the difference). Here, where I live, I would pay 9% (your area may vary). But, keeping that in mind; If you get $8250 trade in value, you would save $742.50 in tax. Where as if you sold your trade for cash and then just bought the new car, you would need to sell it for $8992 just to make an even deal.

Also, trading in your old car, you get your money right then. I have had customers KEEP their trade to try and sell it on their own thinking they could make more for themselves. Turns out they were wrong. Two months later, they still had their car for sale. The customer told me he wished he would have traded in, because by the time he added the cost of keeping insurance on it until it sold, advertising his vehicle, and the headache of showing it to so many people who didn't buy it, he felt he lost money vs the trade.

Just points to ponder. You do what you think is best for you. I don't know where you live, but most places give a tax credit on a trade. Something to look into.

Good luck in your future purchase.

 

90k miles doesn't sound like too much for a 2004 Prius. It should last much longer without any major issues (hopefully – if the traction battery holds). Also, gen III is a brand new car with some minor teething problems (dashboard rattles, occasional rough starts, momentarily braking power loss, display burn-in, poor radio reception, brake grabbing in reverse – to name a few) – see this thread: http://priuschat.com/forums/gen-iii...2-summary-problems-reported-prius-2010-a.html (and many others) for specific examples – and Toyota will surely address and mitigate those problems in the following years. So, in your place, I would probably wait with the upgrade.

On the other hand, your current car will lose its trade-in value over the time, so it is not so easy decision. Ultimately, your own feelings will have to decide .

 

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Kev,

I would go for it. I find I like the Peace of Mind having a newer car and a full warranty for "unplanned repairs". As you realize your car has 90K Miles, and although not HIGH MILES, it could start to cost some repairs as time goes on.

Each of us have a different philosophy and mine is as stated. I traded a 2007 Honda Civic Hybrid with 32K on it of the Toyota. Sure I could have stayed in the Honda Civic, but I was unhappy.

I made the jump and am happy to this day I did! I am at 5K miles on the new one and loving each and every day with it!

Take it for what that's worth! Good Luck no matter what you decide! Keep us posted.

 

FWIW - as one who owned a 2004 and now owns a 2010, I think there's a huge improvement and it is definitely worth it, if you don't care about the economics. Of course, at this point, I might be tempted to wait for 2011. Someone else might even tell you to wait for the 2012 plugin. Ain't decisions like this a bitch?

 

I'd do it. You're nearing the point of a steep drop in value for your 04. If you want to be most economical, buy a used 08 for only a few thousand more. all car values drop rapidly after buying new, then level out, the drop rapidly again as they reach old age or 100+ miles.

 

I'd go for it! I've never looked back after purchasing a new car, months or years later and though, "DANG, I paid too much for this car!".