Brainstorming Session

Have you confirmed that there’s something wrong with the engine and it needs replaced? Used car prices are definitely still crazy right now, but I think they might be at the very beginning of a downward, more consumer friendly, trend. These models are certainly capable of going well above 200k with a little maintenance and upkeep, but a new engine sounds like a lot of work if that’s really what you’ve confirmed the car needs.

 

Keep in mind “Prius” is an evolving mechanical entity. With each generation there are modifications, additions, deletions. Toyota touts these as “continuous improvement”; I’m not so sure.

 

What is actually wrong with your engine? Even with ordinary maintenance the gas engines in these cars tends to last a lot longer than 200k.

It's very unlikely that you'd ever need to replace the transmision. They're even more bulletproof than the engines.

On the other hand, going by the calendar that car is going to need a new hybrid battery any day now. The c hybrid battery tends to last about 10 years and doesn't really care how many miles you put on it.

 

The Priussys are the most reliable of the breed - and your car is already paid for and you must have been paying attention to your maintenance to SOME degree to only have 'make believe' trouble at 200K.

A while back my 86-year-old Aunt was considering advice from some of my cousins to put a superbly maintained and paid for vehicle out to pasture because it needed $2-3k worth of transmission work.
I advised her that since she LIKED the vehicle, to gamble that the repair would last for a year, which would easily be much MORE than $3k given the cost of replacement, additional taxes and insurance.
She's a 'trust fund widow' who is probably worth between 7-8 figures.
She got to BE that way because she and my uncle made their last car payment in the early 70's.

Me?
I'd start making car payments NOW......

...to your bank!
This way, when imaginary repairs manifest themselves in the physical world you will be able to cash flow the work and maybe even a cheap rental to drive while you're waiting.

The advice worked out well for my sweet Aunt who drove the car for another two years and then bought a slightly used replacement.
She's a lot smarter that I am.
Their last NEW car was the same as the last one that they made payments on - in the early 70's.
She buys (DARN NICE!) 1-2 year old cars that are indistinguishable from new.

Good Luck!

 

is there a better way to make a living available to you?

 

If OP’s driving is mostly for work, maybe his boss can lease him an econobox and reduce his pay, but somewhat less than the full lease amount. Might be a tax advantage?