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Should I trade my prius for a plug in?

Discussion in 'Gen 1 Prius Plug-in 2012-2015' started by wwiggins, Oct 27, 2012.

  1. wwiggins

    wwiggins Junior Member

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    I own a 2012 prius with 16000 miles on it. When I bought it plug ins where not available. Now I wonder if it could be economical or make sense to trade up? Thoughts...
     
  2. ny_rob

    ny_rob Senior Member

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    It depends on the incentives offered in your area...
    In NY on the PIP we get $3500 Bonus cash from Toyota financing and 0% for up to six years, $500 local electric supplier rebate, and of course $2500 Federal tax credit. It adds up to $6500 in incentives.
    After that it comes to what the dealer offers you for your 2012 Three. FWIW- don't even consider that the dealer will offer you KBB for your trade- deduct at least 10% from the listed KBB trade in value.

    Did you go to a dealer yet to get any figures?
     
  3. bisco

    bisco cookie crumbler

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    disregard cost, this is too much fun to miss out on!:)
     
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  4. wwiggins

    wwiggins Junior Member

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    No, dealers here don't have them in stock, they say they can get them in 30 days if i purchase one. I know I'll loose cash on the trade but I wonder if I could get roughly the same payment with incentives. I wouldn't lease. I travel too much for that. I pay $319 a month now and recover at least $200 in gas savings from my previous car (2005 dodge magnum rt @ 12 mpg). There would be another few dollars in gas savings to factor in to the trade between the prius and the plug in.
     
  5. bisco

    bisco cookie crumbler

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    fly up here and drive one home, they can't get rid of them and the deals are amazing.
     
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  6. mozdzen

    mozdzen Active Member

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    If you drive a lot, just stick with your 2012. The 11-12 miles of EV mode won't be noticed if you put on heavy miles.
     
  7. raimix

    raimix Member

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    Doesn't hurt to look into the potential #s.
    Would defintely try to inquire the dealers in regions where the incentives are offered.
    Read up on Price paid on PiP post to find what people paid.
    Current incentives end on Nov5th, so best to move fast.
     
  8. El Dobro

    El Dobro A Member

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    I traded in a 2011 3 for a PIP. I couldn't be happier with the car.
     
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  9. raimix

    raimix Member

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    What did you get for your 2011 3? Option / mileage?
     
  10. El Dobro

    El Dobro A Member

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    $17,000 with just the mats as extras and it had 19,000mi on it. It was paid off, too. I took the 5 years/0% interest to pay off the balance on the PIP. What's the rush? :D
     
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  11. raimix

    raimix Member

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    well the OP can use this info to figure out what the offer will be on his Prius 3.
    No rush with 0% finance, might as well put the cash to work. :)
     
  12. wwiggins

    wwiggins Junior Member

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    Where is "up here?"

    What states are they available in?
     
  13. bisco

    bisco cookie crumbler

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    mass., not sure what states they are available in, but in the northeast, they are 3500-5000 off, plus the 2500 fed tax credit. or 279/mo lease.
     
  14. priuskitty

    priuskitty PIP FAN

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  15. wwiggins

    wwiggins Junior Member

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    Ok so if I were to do this, I'm in western KY, where is the closest best deal to me?

    I was reading the other thread and people are getting 0% for 60 months and with incentive pip for $26,000.

    If I lucked into something like that I could actually come out ahead. But I need to find out if the incentives apply to me and where the closest deal like that I can find.

    Any suggestions?

    Thanks
    W
     
  16. priuskitty

    priuskitty PIP FAN

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    google maps should help
     
  17. bisco

    bisco cookie crumbler

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    i think new jersey at least, if not further south/southwest.
     
  18. El Dobro

    El Dobro A Member

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    My deal was just under $2000 off the sticker price plus $3500 off from Toyota and financing at 0%. Don't forget the $2500 off federal taxes, too.
     
  19. raimix

    raimix Member

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    You will be hit with your car's depreciation.
    I don't know how you will come out ahead in terms of #s.

    I looked into trading my base PiP for advance, not worth extra $ I will be paying even with incentives due to hit on the trade-in.
     
  20. Joyce

    Joyce Junior Member

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    When I purchased my 2011 Prius, the PIP were just coming out so our plan was to wait a year and then looking into a PiP. Exactly a year later, we bought our 2012 PiP, and have no regrets.

    On the 2011, we had just under 20,000 miles and were getting 46-50 MPG. With our new 2012 PiP we are getting 57-70 MPG. Even on a weekend away with charging, we got 54+MPG.

    I get to work 100% on EV, but HV on the way home. We are in Massachusetts, so we'll see how the winter changes things.

    We usually pay cash, but with $5,000 incentive and 0% financing, we are financing the balance. We got a very fair trade for our 2011, but I did have to stay firm with what I wanted.