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Seems like a terrible deal...

Discussion in 'Dealers & Pricing' started by manku, May 10, 2013.

  1. manku

    manku Junior Member

    Joined:
    Mar 9, 2011
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    I have a 2011 Prius 3, white/bisque/nav/26K...current payoff is 17900. 8 more payments of 350 (due in march 2014), payoff will be 15777. Bought at Santa Monica Toyota.

    Went to Hollywood Toyota today (same dealership)...they "generously" offered to take my car, losing 1500 in process. KBB trade in is 19K, and going online, I see my car selling in the low 20's. It would seem to me that I should be getting some equity on the trade in???

    The offer for a new 2013 Prius IV (need the premium sound) was $409/month including tax. This was 36month/12k year. Zero drive off. This seemed really high. Salesperson said the residual was 60%...I read somewhere online it was 63%, but can't find it.

    I realized, through my auto pay schedule and a double payment, that I'm paid up through 7/12. It probably makes sense for me to wait another two months, and then try this again. Any advice? I've turned in leases early a dozen times (always German luxury cars), and have always made good deals.

    Thanks.
     
    #1 manku, May 10, 2013
  2. Jamesb93612

    Jamesb93612 Member

    Joined:
    Mar 19, 2013
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    Location:
    Clovis, Ca
    Vehicle:
    2008 Prius
    Model:
    N/A
    Why would you do this? Do you really need to spend $50 more a month for premium sound that you probably don't "need?" Plus you're going to have another down payment (upfront or rolled into monthly payment). If there is nothing wrong with your current vehicle, other than it doesn't have a better sound system, I would say that it is a bad idea. However we do not know your financial situation, so if you have tons of money, how about keeping your 2011 and just send the money my way!


    iPad ? HD
     
    #2 Jamesb93612, May 10, 2013
  3. manku

    manku Junior Member

    Joined:
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    #3 manku, May 11, 2013
  4. bisco

    bisco cookie crumbler

    Joined:
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    Location:
    boston
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    Plug-in Base
    depends on your locale, some parts of the world, they can't give pri away.
     
    #4 bisco, May 11, 2013
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