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Need advice on possible trade in.

Discussion in 'Gen 1 Prius Plug-in 2012-2015' started by bostonbruins8703, Jan 11, 2019.

  1. bostonbruins8703

    bostonbruins8703 Active Member

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    So I need advice. I currently own a 2013 Prius V two. I got the car almost 2 years ago at 78 thousand miles. As of today I’m creeping closer towards 109,000 thousand miles. I like the car, I don’t love it. Long story short, I was forced into it and the dealership made the whole thing a nightmare. Anyways, I have a loan on her, still owe around 12 grand. My main concern is how much longer will the car last once it’s paid off in about 5 years or so. I’m debating about trading it in for a Prius with lower mileage, it’s a little more in price, it’s also a year older than my V.

    I’m debating if I should trade my V in for a 2013 PIP, the one listed looks great and seems to be in great shape. I’m thinking doing it once I get my tax returns. My budget is limited, 6344861E-6068-4C44-A5CB-23745B94B2D2.png 1B8BBBDA-90F4-4E2A-A3C9-0631567A8938.png 69917B48-16F2-47CA-9129-152BFDDC2067.png A474AD41-3438-42F9-B257-1382E2EA8046.png I can’t afford anything newer like a prime. Really, my car payment monthly is $261 and that’s pretty much my cap off point. The car listed, i think I can swing a car payment for what the car is worth.

    Am I making a mistake or should I just stick with what I have?
     
  2. bisco

    bisco cookie crumbler

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    a huge mistake, financially. how many miles a year do you drive?

    a 2013 with 13, 500 miles? did they roll back the odometer? that's 2,200 miles per year o_O
     
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  3. bostonbruins8703

    bostonbruins8703 Active Member

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    I drive over 648 miles a week for work. It varies on what the family and I do on the weekends. I’ll often drive longer distances for family road trips.
     
  4. bisco

    bisco cookie crumbler

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    that's a lot of mileage for a 5 year loan.

    what don't you like about the v, and what looks attractive on the pip?
     
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  5. bostonbruins8703

    bostonbruins8703 Active Member

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    Well I talked to the dealer, it’s precertified. Clean up to date car fax. Maintenance all up to date. So I don’t think they rolled back the odometer.

    My V has is creeping closer to 109,000 miles. It had 78,000 miles when I first got her. My work requires me to do a lot of driving. I was set up with a 7 year loan so now I’m going on nearly two years of owning her, so I got about 5 years or so remaining on the loan.

    There’s pros and cons on comparing the V to the Pip.

    pros:
    The V is a station wagon, which is wonderful for hauling stuff around. My family and I love road trips, camping trips, and we love hunting for yard sales in the Spring and Summer. So having that extra space is great.

    The leg, elbow and head space is great for me because I’m 6ft tall. I like having room to shift around while driving.

    For the long drives, having rear seats that recline back is comfortable where those who are in the back seat can lean back and fall asleep.

    I like that the V is higher off the ground compared to a regular Prius, which I’ve cut through 6-7 inches of snow on all season tires without getting stuck or losing traction.

    Cons: What I don’t like about the V. It gets lower gas mileage that a standard Prius/PIP.

    It has terrible blind spots.

    And nothing to do with the car itself but mine has higher mileage.

    So I have more pros on the V than I do cons.

    For the PIP;

    Pros:

    Better gas mileage, even on my long hauls to work and road trips, I think even with the short driving range on EV only is greatly benefitical with saving the most in mpg and from I’ve read about other owners, recharging the battery is hard not impossible to do when driving. The idea of charging from a standard outlet, especially at work for a few hours to get a full charge really appeals to me. Granted the EV range is short, it still saves money on gas.

    The blind spots are not as bad as the V. I’ve driven the PIP and I felt comfortable switching lanes on the highway. With the V, because of those blind spots, I’m often questioning rather or not it’s safe to changes lanes or watching for pedestrians.

    It has quicker pick up than the V, which makes sense because of the weight difference.

    The drive feels a lot smoother and quieter.



    Cons:
    It’s obviously smaller, the cabin room feels cramped when compared to the V. When I drove the PIP, I felt a little claustrophobic. Even with having the seat adjusted close to the floor, I felt like I didn’t have enough head space and I had the seat slide all the way back and my legs still felt cramped.

    The back seat felt cramped, with me sitting back there, my knees were up against the front passager seats.

    The trunk is not bad but obviously noticeably smaller than the V. With the V, I was able to move my small one bedroom apartment in one trip, with storage containers, a dresser, a tv, and other items.

    The ground clearance worries me due to the snowfalls we get up here, and not because I’m worried about getting stuck, unfortunately it’s the deep potholes that often pop up during the winter here, which often get hidden by snow. With the V, though it wasn’t exactly pleasant, I’ve hit potholes and suffered no damage.

    So in all, the Pros of the V kinda outweigh the pros of the PIP, however at the end of the day, I still want better gas mileage and lower mileage on the odometer.

    I’m still torn on what to do.
     
  6. jerrymildred

    jerrymildred Senior Member

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    WOW!!! Remind me to go to Boston when I decide to sell mine. That's a ton of money --- $4k more than I paid for my '13 two years ago. Granted, mine had 54k miles, but it also had two more years warranty on the battery.

    I guess you'd make up some of the cost in improved fuel economy, but you'd still be in a huge financial hole. With the amount you still owe, I'd guess you'd get practically nothing for the trade value of your v.

    Another way to look at it: with that 6-yr loan, you'd eventually be paying $255/month to drive a 12-year old car. Not my idea of fun when you could still be driving the v and putting away $255/mo toward a newer one.
     
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  7. cnc97

    cnc97 Senior Member

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    Unless your tax return is enough to cover the negative equity, you still have the difference between trade value and payoff to figure into the math. In my area, average trade on a v 2 is about 8350. If you owe 12k, that’s nearly 4k. Now if you can swing it, keep both payments. You could try to find a buyer willing to refinance your v loan into their name.
     
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  8. bisco

    bisco cookie crumbler

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    and don't forget, pip has no spare, and no under hatch storage.

    have you looked at pricing on a standard prius?

    or compared gas savings to camry or similar, vs initial cost?
     
  9. GrGramps

    GrGramps Active Member

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    It sounds like you are entranced with the newer model and I understand that. But, you don't sound like you're sure of the financial aspects of this transaction.
    One of the earlier posts offered, "a huge mistake, financially".

    Perhaps a financial advisor (not someone at the dealership) could offer some insight. After a consultation with a pro, you might feel more confident about your decision. I offer this because there's so much we don't know about your situation.
     
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  10. bostonbruins8703

    bostonbruins8703 Active Member

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    I appreicate everyone’s advice. It really gives me something to think about. I guess what it comes down to is me being worried about the longevity of my Prius V. I’m super anal about the maintenance, but I’m worried how much will she last as I continue to pay the loan off. Like I mentioned before, I’m creeping towards 109,000 miles (as I do a lot of highway travel for work; over 640 miles a week) and road trips on my time off. I got her at 78,000 miles. I’m really wanting a Prius with better mileage that better accommodates my highway driving. Mean the V handles great but obviously not as gas Efficient.
     
  11. Borninblue

    Borninblue Active Member

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    The financial strain is not worth it in my opinion. I’m not a fan of any car loans, but understand that sometimes there is no choice. I bought a used 2010 for just under 6 grand 116K with the knowledge that I can make her last for at least 200,000 with proper maintenance. If your worried about it lasting take that money and spend 500.00 or so on the prolong equipment to ensure your battery doesn’t die prematurely. Work on paying that loan off.
     
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  12. bisco

    bisco cookie crumbler

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    if money were no object, at 35-40k a year, you would ideally buy a new or slightly used ca every 4 years.

    the difficult part is how to get there from here. if you buy the above plug in, you'll be in the same place 3 years from now
     
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  13. bostonbruins8703

    bostonbruins8703 Active Member

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    What type of equipment do you mean?
     
  14. jerrymildred

    jerrymildred Senior Member

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    It would have been more clear if he's capitalized "Prolong." ;)
     
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  15. mrlebop

    mrlebop Member

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    Keep the V. Baby it. It has more pros for you anyway.
     
  16. bostonbruins8703

    bostonbruins8703 Active Member

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    I see you have a Plug In. What made you choice the Plug In over the V?

    Mean, I'm starting to just forget the idea of trading her in all together but that constant nagging feeling of I could be saving more money on a Plug In Prius still lingers in my head whenever I'm at the pump.
     
    #16 bostonbruins8703, Jan 22, 2019
    Last edited: Jan 22, 2019
  17. Tideland Prius

    Tideland Prius Moderator of the North
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    Just keep it and get a used Prime when the v is paid off.
     
  18. ETC(SS)

    ETC(SS) The OTHER One Percenter.....

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    Advice:
    Don't.

    Only a dealer can win this exchange, and since you're still rubbing your backside from your last visit to a dealer smart money says you should maybe put off doing that again.

    Whether you DIY or pay your maintenance done is not very relevant here because the advantages of a older car with fewer miles are offset by a known history with the car that you're driving.

    Since I didn't give you financial advice about seven year car loans for three year old cars, I'll skip the part about how it's unwise to get a large tax refund check because.....quite frankly I do it myself.
    HOWEVER (comma!!!)
    Perhaps a more intelligent strategery for your refund would be to start a rainy day fund for the car that you already have and know.
    If you give your hard earned money to a dealer for another used car then you'll be right back where you are right now minus the safety net of having enough money in the bank to pay for anything that goes wrong with the pip.

    Super anal about maintenance?
    Three questions:
    1. There's a very important maintenance item in your schedule of maintenance that's required every month or 1,000 miles. Who does that?

    2. Three words: Transaxle Fluid Replacement. OK. That;s probably three and a half words. What are your thoughts about this non-scheduled maintenance, and why?

    3. EGR cleaning: You'll probably want to get some information on this as well. Probably by about 150,000 miles or so with your driving patterns.

    The thing is....there is no "right" answer for #2 and #3, but many forum members have batted this around and have developed some good practices for keeping their cars out on the sharp end of the stick for 150++ thousand miles....which would take you out to that rarefied air we like to refer to as "driving paid-for, dependable cars."

    Your call.

    Parting shot.
    While you're tinkering around in the schedule of maintenance, you will no doubt be reminded that you're due for some maintenance at 120k (if memory serves.)
    If your idea of automobile maintenance is driving your car down to a dealer or a mechanic, tossing the keyfob at them, and hoping that THEY are more interested in your car's future than they are about getting their kids through college or making the next boat payment - that's cool.
    Many people have to.
    ....just make sure that you're knowledgeable about what needs to be done and what does not, and perform some simple checks to make sure.
    The difference could be hundreds of dollars.
    Get advice in this forum for any of the more expensive items (plugs, etc...)

    If any of this sounds condescending then I certainly apologize, unreservedly....but you're driving perhaps one of the most dependable cars on the road right now.
    Pips are good too - for pretty much the same reason.
    Or?
    Either or both of them could be money pits - for pretty much the same reason.

    Good Luck!
    Let us know how it shakes out, and since you'll remain in the Prius family either way.....remember that the ONLY stupid question is the one that you do NOT ask.
     
    #18 ETC(SS), Jan 22, 2019
    Last edited: Jan 22, 2019
  19. bostonbruins8703

    bostonbruins8703 Active Member

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    Honestly, after reading your post, It was a wake up call. You made excellent points and you pretty much told to me bluntly on what I shouldn't do. Not that its an excuse, but some relatives of mine just bought a new car and I guess I can say, the new car bug bit me. So thank you for giving me a verbal wake up call.

    I will say, I do keep up with the scheduled maintenance, so I guess that doesn't make me super anal. I just never miss an appointment to get what needs to get done. There is a well trusted dealership with high customer ratings that I only take my car to get serviced, and I do research on the forum on what needs to be done and what doesn't need to be done. As the surprisingly, the dealership echos what a lot of the forum members say. And far as DIY maintenance, if its easy for me to do, then I'll do it.

    The transaxel fluid change I believe needs to be done. From all the videos I've seen on youtube and how dark the fluid is after its changed compared to the new fluid, its a chance I'm not willing to take if something goes wrong.

    Forgive me for being naive, but what is the maintenance that you're mentioning that has to be done very month/1,000 miles? Maybe I'm overlooking it, but I can't seem to find it in my owners manual, I've also been up for 18 hours because of work, so that could be why I'm overlooking something thats probably looking straight at me.

    The ERG cleaning, I'll probably end up watching another youtube video on how to go along with that step by step as well.


    I'll definitely take your advice to heart, and save that money to the side for a rainy day whenever something major happens with the car. You're very right, its better to know your service history first hand, than take a chance with another vehicle that could have low miles, but could also turn into a money pit, its a gamble. As of right now, I haven't had any issues out of her since I've owned her. Still drives just as good as the day I drove her off the lot. Even with all the driving that I have to do for work, it still feels like a good sturdy smooth drive.

    Anyway, I thank you again for the insightful advice and no need for apologies.
     
  20. jerrymildred

    jerrymildred Senior Member

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    The manual actually says "regularly" but 1,000 miles or monthly is a good number for checking your oil. You would not believe how often people come here with problems and then seem to think that adding oil every time the oil pressure light comes on is a good thing. I assume that's what @ETC(SS) is referring to.

    I know what you mean by that new car bug. I fight it every time I need a Gen 4 Prius on the road, which is a lot around here. ;)