Trade in suv for '15 Prius Two?

I always thought sales tax is added on to a new car, your trade in has nothing to with what you owe the state on a new car sale. But I've never traded in so I'm going off an assumption.

In california we have nearly a 10% tax and registration and doc fees on top.....which is 12%

 

You're preaching to the choir, friend. I originally thought OP would end up with the same amount owed in which case an SUV in snow country is arguably a better benefit than a fuel efficient Prius, especially with OP's low 10k miles a year usage. But now I read about Persona, leather, higher insurance, and snow tires. I'm now thinking OP may owe more than $13k after the trade-in.

I set a $20k budget 3 years ago and ended buying a $28k Prius, so I have no business calling the kettle black or is it the pot? Good luck 4rpr15! You're gonna need it on Saturday.

Some states subtract the trade-in value directly off the purchase price of the vehicle. In effect they pay taxes only on a portion of the new vehicle. That's a benefit we don't get in CA, that's probably why you haven't heard about it.

 

Obvious Prius supporter here.
But at 7 miles a day, and only 10,000 miles a year, I'd like to know what numbers you crunched to that make you want to own a Prius?

You own a 4 runner that is less than a model year old, seems to fit the majority of your driving needs in your most common driving environments.

I'm apt to recommend a Prius to anyone. But in the OP's case it just doesn't seem to make sense to me.

 

In short, cost creep.

Your spread on the amount you will owe has spanned $1.5k to $5k.

The Prius you plan to buy has spanned $19.7k to $23k. You've already mentioned higher insurance and snow tires.

Like I said, I don't see how you can get $32k trade-in for the 4runner. I also don't see how you can get $19.7k for a Prius 2 or $23k for a Persona. I see a more likely scenario of $28k for the 4runner and $28k OTD on the Prius. Leaving you with the same $13k loan. That you started talking about add-ons such as snow tires and tint makes me think you're going to spend even more. And there is nothing wrong with that. I myself went $8k over budget when I bought my Prius. You asked if you should trade-in your SUV for a Prius. The answer is absolutely, if the numbers are as you say.

If not, then my answer is no, you shouldn't because the 4runner is a more capable vehicle year round, safer, more comfortable, more room, and faster. The cost is ~$1000 extra fuel a year and whatever for maintenance. But there is a bigger cost in my opinion in lost time or missing work and needing a tow when you get stuck.

I hope I am wrong and you get the incredible deals. Come back tomorrow when you have the actuals and rub it in our faces.

 

That's not a lot of miles to maximize the advantage of owning a hybrid OR take much of a hit from a 4 runner.

Seems like a vehicle that fit's your needs. Which is probably why you bought it less than a year ago.

VS. a vehicle you are literally afraid might not get in or out of your own driveway?

Yeah...I'd do it.

You can do what you want to do, even if doing it isn't particularly wise.

 

You want to do it? Do it. You don't need any more justification than that.
But you did ask for opinions.

And IMO given the environment you live in, and the low miles you actually drive, it's NOT the best choice.

And I say this as someone who owns and drives a Prius.

 

Where was this thinking in 2014, when you actually bought the 4runner at $34k? Surely a corolla at $20k would've saved you $14k from day 1, no need to wait 5 years to save a paltry $7500

 

May I ask what type of work requires a 4runner Premium?

 

I just did a truecar price on the 2015 4runner sr5 premium, it's at $34k in my area. So I'm still unsure how a dealer would take your 2014 with 10k miles on it for $32k-$33k

 

I'm unsure how a Nada price guide can explain how they can sell you a brand new 2015 for $34k and take your 2014 for $32-$33k? How much do they sell your 2014 when they get it? $34k? the same price as a brand new 2015?

 

Yes the MSRP on the 2015 is also around $38700, but the selling price is $34k

Same with the MSRP of the 2015 Prius Persona at $28k, but selling for $23k