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new member, looking for advice

Discussion in 'Gen 2 Prius Main Forum' started by priusprints, Oct 2, 2004.

  1. priusprints

    priusprints New Member

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    hello all, this site is my new best friend. here's my story:

    i have wanted a prius for years, but affording one is my problem. i live in LA, and i see them every day, and my prius envy is killing me. for the time being, i drive an old 1990 ford taurus that is a gas guzzler (17 mpg) and i am so incredibly ashamed to say that i recently failed the my smog test and the car is a gross polluter. a friend informed me that my car is a worse friend to the environment than a hummer. ouch. it isn't worth it for me to fix it, so in about a month the car will be crushed and i'll be taking the bus until i can afford a new car. the thing is, i don't want a new car unless it is a prius. but at my salary, i don't think i can afford one. i heard recently that the average prius owner earnes $100,000 a year. divide that by 3 and you have me, and that's in LA. and i've got college loans and a bit of other debt. i need any and all advice i can get on buying a prius. anybody been in my sort of situation and still been able to get one? i'm going to try to last on the bus as long as i can to save money. does anybody think the prices will go down a bit with the increased production?

    help!
     
    #1 priusprints, Oct 2, 2004
  2. toolbox

    toolbox New Member

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    i own a prius and dont make anywhere near 100k a year :oops:
    the prius is not priced that high, but it did increase i think $900 for 05. have you checked with a bank or dealer to see what your monthly payments would be? or maybe looked around for a used 01-03 models
     
    #2 toolbox, Oct 2, 2004
  3. priusprints

    priusprints New Member

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    i've looked at listings for older models, which might end up being the direction i head. my boss has great connections at a toyota dealer in the area, so once i get a free weekend (i'm getting married in two weeks so i'm a little busy now) i want to go give him a visit to see what my options would be for a new one. it seems like you can't get a new prius out here for less than $4000 over the MSRP and interest rates are higher than other cars. this will also be my first real car purchase. i bought my present car 4 years ago in sort of a panicked "oh my gosh i came out to LA for school and i don't have a car and the busses just went on strike thanks mom and dad for the $2000 let me buy the first car i can afford" sort of way. i'm a real dork when it comes to finances, and i've got a spreadsheet where i try to justify financially the cost of the prius (over for example a corolla) by figuring out what i'll save on gas over 5 or 7 years and i'm really babbling here. basically, i'm curious if there are people out there in my situation, what they did to get a prius, and how things are going for them now. specifically, buyers in LA, what are you paying per month and what did you put down and what about insurance?
     
    #3 priusprints, Oct 2, 2004
  4. clshep

    clshep New Member

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    I don't make 100 grand a year either, (although I wish I did) and I just bought my new 2005 Prius Thursday night after work. I do however own my own home which I bought a couple of year ago and got a nice Equity Line of Credit to make some upgrades to my home as well purchase my new Prius.

    There is no way I could've afforded a new car without the equity in my home. PriusPrints, do you own your own home? Perhaps you can take out a second or a line of credit to assist in purchasing a Prius? If you don't, I would suggest taking Toolbox's advice and talk to your bank about a car loan. You'll get a better interest rate than the dealer will give you and perhaps the payments will be affordable.

    My buddy went through eLoan and he told me they were pretty easy to get his car loan through. You may want to check them out too. www.eloan.com

    Hope this helps and good luck!

    Shep
     
    #4 clshep, Oct 2, 2004
  5. skruse

    skruse Senior Member

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    II
    Due to deductions (403(B)) and others, my take-home pay is about $30k per year. I think and act "least cost, end use" (long-term).

    Prii are more affordable because your actions are long-term investments for yourself and others. You model what you think and do. I am fiscally and environmentally conservative. I expect to keep my Prius a long time. The lower cost of operation - in fuel economy, emissions, noise, maintenance and sustainability - is the way to go.
     
    #5 skruse, Oct 2, 2004
  6. TonyPSchaefer

    TonyPSchaefer Your Friendly Moderator
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    Priusprints, I have never done this before, but I'm going to suggest that if you in a situation in which buying a new Prius would break your bank and cause you more agony then enjoyment, then don't do it. It took me a very long time to get everything in check, mentally. Someone had to actually explain a few things to me. For one, I questioned how some of the factory workers I worked with at the time had infinitely nicer cars than I did. They live with their parents and didn’t go to college. I always wondered why I see old guys in fancy cars. After decades of getting everything else in order, they are now in a position in which they can afford it.

    Priapus is the very first new car I've ever bought. That after about ten pieces of crap, all used, some hand-me-downs, and one I drove for a year after an accident because it wasn't worth fixing. At one job, when I received a promotion and pay increase, they asked me to use the money to buy a different car.

    I read a report somewhere that these days people want all the things their parents have. Only, they want them now, not after they've grown old. The backlash of that mentality is that they go in debt, carry huge payments, and file bankruptcy. I have not seen the report you elude to about the average income of the Prius owner. But what if you calculated in the average age of the Prius owner? To be 25 and earning $100,000 would be impressive. To be 40-50 and earning $100,000 might be expected in some circles LA.

    Trust me, I know your Prius lust. We all have it. But please put your well-being before your car.
     
    #6 TonyPSchaefer, Oct 2, 2004
  7. priusprints

    priusprints New Member

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    i'm appreciating everybody's responses and i've been looking at other posts as well that are enlightening me. in terms of my own finances, i will certainly not go into such a huge purchase without thinking it over and over and over and over and consulting with many different people and discussing it thoroughly with my soon to be wife. as i posted, by present car will be crushed in less than two months, and i'll be taking the bus for a while. that will save me several hundred dollars a month, which will help me to pay down some other debt. it really is a good thing i've been "forced" to retire my taurus, because it is a money pit. i estimate i spend over $1000 per year on repairs to a car worth $825 on KBB.com. insurance is $100 a month, and i spend over $100 a month on gas--sad, i know. my car situation helped as a catalyst for me to just get a very needed and very deserving large percentage raise, so in a way i feel like i've got a bit of pressure to get a new car soon. however, if i can last til next fall sharing my wife's car and using the bus, i'll be able to save a considerable amount for a down payment, and i'll actually be out of the country (it looks like) for several months next fall, so realistically, unless some sort of financial gift floats my way, i could buy a prius christmasish of 2005. so, over the next couple months i need to be doing major research, some major planning and budgeting, and talking with prius owners. i've compared estimates of costs over 5-7 years for other cars that have lower price tags, but the gas-savings versus other cars makes a real dent in the overall cost over time.
     
    #7 priusprints, Oct 2, 2004
  8. BobA

    BobA New Member

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    Priusprints... I think if you are really in need... you should watch the want ads in the paper as well as the car websites... I did a search on www.cars.com and found 19 used Prii within 40 miles of Longo Toyota... easiest LA zip code I could find... prices from $13,000 to the guy who thinks his is GOLD at $34,000... I probably shouldn't say this on priuschat... but there is another hybrid out there as well, with two models.. both can be less money.. you can always trade up..

    as a side note priusPrints... makes you a printer?

    Bob Andersen
     
    #8 BobA, Oct 2, 2004
  9. priusprints

    priusprints New Member

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    Bob--

    no, actually priusprints was a sort of derivation of fingerprints, another username i often use. i work for a film production company

    thanks for the info.

    joel
     
    #9 priusprints, Oct 2, 2004
  10. TonyPSchaefer

    TonyPSchaefer Your Friendly Moderator
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    <div class='quotetop'>QUOTE(priusprints\";p=\"43004)</div>
    Hey, I kind of like that. Also could be a deviation of footprints. Brings to my mind the thought of "tread lightly".
     
    #10 TonyPSchaefer, Oct 2, 2004
  11. DaveinOlyWA

    DaveinOlyWA 3rd Time was Solariffic!!

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    Persona
    because of the dot.com bust and the slow it industry where i live, i just barely make 20,000. but i got my Prius i do believe that i will save money in gas for one and medical bills for 2, reduced stress for 3 and a great sense of well being for 4.

    it did help that i was able to pay cash for my car though. i also dont live in an area that is expensive as yours is, although it aint cheap here.
     
    #11 DaveinOlyWA, Oct 2, 2004
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