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Question about purchase incentives

Discussion in 'Prime Main Forum (2017-2022)' started by Amyshubby, Sep 1, 2017.

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  1. Amyshubby

    Amyshubby 2017 Prius Prime Advanced

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    I have a son who turns 17 in January. We will need a third car and I am planning on buying a Prius Prime for myself and keeping my old car as one my kids can use for the next few years. Although I don't need the car until the end of January, I am going to make the purchase in December to take the tax credit for my 2017 taxes.
    My big concern is that Toyota is currently giving a $3500 rebate in NY. Normally, rebates just get extended as they are a way to clear out old inventory, but this car situation seems unique. As I understand it, the car is very hard to obtain in most non-coastal States and Canada. It seems the only reason for the large incentive is that Toyota needs to sell a certain amount in NY? If so, does anyone know what that amount is and if they are close to it. My obvious concern is that I wait three months and have to pay an additional $3500.

    Thanks for any advice you can give. Before my current car (a 2014 Honda Accord Hybrid) I had a generation 2 Prius and this forum was just incredible. I've been reading all the Prius Prime threads and really appreciate how helpful everyone is.
     
    #1 Amyshubby, Sep 1, 2017
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  2. bisco

    bisco cookie crumbler

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    Welcome!

    No, that info is unavailable to us.
    You have to make your best guess each month.
    The rebate keeps increasing, so that is a trend.
    This being 9/1, if it is still $3500. That's a good sign.
     
    #2 bisco, Sep 1, 2017
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  3. mmmodem

    mmmodem Senior Taste Tester

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    We just don't know.

    Although, my guess is that with very few exceptions cars don't more expensive with time. Rebates and incentives come and go. They may only differ by a few $'s at most. It is up to advertising to come up with different gimmicks. For example the $3500 rebate may go away to be replaced by a $2500 plus 0% financing. Does that save you money? Maybe maybe not.

    Since it is unknown whether the rebate will be in place, I think it's better to purchase the car when you are ready. Teenagers are very unpredictable. Will he actually still need the car in January? Maybe, maybe not.
     
    #3 mmmodem, Sep 1, 2017
  4. KRB17

    KRB17 Member

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    I am completing my purchase of a Prime Advanced in New Jersey on Tuesday, Sept. 5, 2017, because the dealer said the $3,500 rebate expires that day. They don't know if it will be continued, changed or ended.
     
    #4 KRB17, Sep 1, 2017
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  5. fuzzy1

    fuzzy1 Senior Member

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    In my geography, it is merely $1000. :-(.
     
    #5 fuzzy1, Sep 1, 2017
  6. bisco

    bisco cookie crumbler

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    i know, that's why so many people are buying in the northeast. the carb thing has everything upside down, but good for some consumers.
     
    #6 bisco, Sep 1, 2017
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  7. JMalmsteen

    JMalmsteen I love my Prius!

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    Since I don't know if Toyota will be extending the $3500 rebate or if the $4500 fed credit will continue, I bought one. For a Prime Advanced, I paid 28k before tax and then after the $4500, will make it $23,500. That's too good to wait on. I paid 30k for my 2007 Prius!
     
    #7 JMalmsteen, Sep 2, 2017
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  8. JMalmsteen

    JMalmsteen I love my Prius!

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    Leave your geography! We drove a few states over to get ours :)
     
    #8 JMalmsteen, Sep 2, 2017
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  9. KRB17

    KRB17 Member

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    Congrats! You got a better deal than I did. I am still happy, though.
     
    #9 KRB17, Sep 2, 2017
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  10. priuscatprimeguy

    priuscatprimeguy Senior Member

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    welcome to the Prime family, I'm right next door (well not RIGHT next door ) but in Clawson Michigan, a hop-skip- and a jump away from Bloomfield Hills Michigan:D
     
    #10 priuscatprimeguy, Sep 2, 2017
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  11. KRB17

    KRB17 Member

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    neighbor! Thanks! I'm looking forward to picking it up Tuesday and driving it home. Funny how people can't understand why we buy these cars.:)
     
    #11 KRB17, Sep 3, 2017
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  12. priuscatprimeguy

    priuscatprimeguy Senior Member

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    where are you picking it up? and what model/color did you get?:cool:
     
    #12 priuscatprimeguy, Sep 3, 2017
  13. KRB17

    KRB17 Member

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    Getting it at Crestmont Toyota in Pompton Plains NJ. It was the closest I could find to Newark airport. It is a dark gray metallic advanced.
     
    #13 KRB17, Sep 4, 2017
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  14. priuscatprimeguy

    priuscatprimeguy Senior Member

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    add this one to your collection:

    TOYOTA PRIUS PHV , PRIME Silver Metallic 1:30 Toyota special order NEW

    I got the blue version. Bought one they sent me two! If only that happened with the full scale version:cool: 20170825_120223.jpg
     
    #14 priuscatprimeguy, Sep 4, 2017
  15. Amyshubby

    Amyshubby 2017 Prius Prime Advanced

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    That's what I'm hoping. I know the rebates usually stay the same or go up, but this is a unique situation because my understanding is it's not based on low demand but on needing to reach a certain number of cars sold for carb credit purposes.
     
    #15 Amyshubby, Sep 5, 2017
  16. Amyshubby

    Amyshubby 2017 Prius Prime Advanced

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    He will DEFINITELY need the car in January!

    Turning 17, passed his license, and no other avenue to get access to an automobile. We made it clear it's not HIS car, it's our third car so he shouldn't expect to pull rank in two years when his younger brother gets his license!

    Man, time just speeds by.
     
    #16 Amyshubby, Sep 5, 2017
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  17. Amyshubby

    Amyshubby 2017 Prius Prime Advanced

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    You're smart. I would pull the trigger if I needed the car in a month or two but I don't need it for five months. I'm going to wait until closer to the end of the year and hope they still have the rebate. I'll also keep checking the inventory at the local dealers (right now supply is high and it's a buyer's market). I'm basically rolling the dice and hoping I still can get that $3500 off.
     
    #17 Amyshubby, Sep 5, 2017
  18. bisco

    bisco cookie crumbler

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    some good news, the average number of primes on dealer lots has doubled, which might incline them to continued rebates.
     
    #18 bisco, Sep 5, 2017
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  19. Salamander_King

    Salamander_King Senior Member

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    Drum roll please. It's the final day of current Toyota incentive deal. We'll see soon, if they continue or not.;)
     
    #19 Salamander_King, Sep 5, 2017
  20. Salamander_King

    Salamander_King Senior Member

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    #20 Salamander_King, Sep 6, 2017
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