Should I buy two?

I have a Prius coming in a week or two at a GREAT price (considering the current supply shortage) - it's on the dealer's allocation list for delivery next week. I wanted silver package 2, but had to settle for grey package 2 because it was available.

Before ordering this car I had placed a refundable deposit at another dealer for $600 more. I am #2 on this other dealer's list, waiting for the next allocation list to see if I can get the color/package I want. This dealer has told me they will honor the price they quoted me even after Toyota's price increase. I am now considering taking this second car also.

No, I'm not trying hoard a scarce commodity. I actually need to replace two cars. My current "newer" car is a 1999 Accord with 145k miles. My son wants to buy a car to take to college with him, and rather than him risk buying a used lemon, we're selling him the Accord. So Prius #1 will replace my Accord.

My wife's car is a 1997 Grand Voyager with 193k miles. This has been a GREAT car, and we almost replaced it with a CR-V a year ago but decided to do a $1500 tranny rebuild instead. So it may have a couple years left in it at the rate we drive it (14k mi/year). We need a larger vehicle to pull our boat trailer twice a year, and occasionally haul large loads, and we had planned to drive this car until it dies. With $4/gal gas, it has now dawned on me that I might do better to get a second Prius NOW and keep the minivan for our occasional needs. If we can extend the life of the minivan for several more years at the reduced usage, the better mileage of the Prius would be a better option than replacing the minivan with a large car.

PS - If the minivan dies prematurely, we can pull the boat with the Accord. So hopefully between the two we could have a vehicle for pulling the boat.

What do you guys think I should do?

 

We always pay cash for our cars and drive them 10+ years, so I'm going to have to take a DEEP breath to dig out $48k cash out of my investments. But I keep telling myself that I'd have to replace the minivan anyway in the next couple of years, so by doing it now I'm able to buy a more economical car.

Yeah, having settled on a different color for the first one, we're going to be a little pickier and patient this time. Fortunately, we'd be happy with silver, red, or white, as long as it has the grey interior.

 

That makes you MY hero!

 

Yes, I am aware of that. My concern is that our daily use of the minivan would cause it to die sooner, which could force us to buy something larger by that point. If we extend the life of the minivan by using it less, we could get along with a second Prius and save some gas money.

But you are right, one big reason to wait is to get a Gen 3 model.

 

Yes, I had that in mind also. Many have suggested that to me, but none of them have actually ever rented a vehicle for towing. So I have called around a little bit and I can't find anybody that will rent something for towing. In fact, they're telling me they prohibit towing. But I have not tried U-haul yet - I might have more luck there.

 

The second Prius (silver package 2) came in today. We're going to pick it up tomorrow. I'm real nervous about buying two new cars in rapid succession, but we really need to put the minivan into semi-retirement with its 194,000 miles. So we're digging DEEP into our savings (I always pay cash), taking a deep breath, and forking over the $$$. If I get buyers remorse quickly I could flip it for a profit (until the hysteria dies down). Assuming the dealer delivers the price that they quoted - and verbally confirmed three times - I will get it for $23,300, about $1000 off the MSRP after the $400 increase.

The first dealer (Carmax Laurel Toyota) treated me fairly - let's see if this second one is as good as the first. However, I am already sensing a hard sell on extended warranty. The saleswoman told me today "we sell 9 our of 10 cars with an EW." Yeah, sure!

 

Thanks for the advice. I will be forceful after I have the price of the car on paper. If I say no too soon and they realize they will not have the profit margin they hope for, I may find other "fees" on my purchase agreement. I did already tell the salesperson that I am "unlikely" to buy it, but that I will listen to their pitch. I don't want to say "absolutely not" at this point.

I've lived through these pitches before, and I realize you pretty much have to say "no" at least three times.

 

I picked up the car (Silver Package 2) today and Thompson Toyota in Doylestown was great to me! They honored their discounted price. No hard sell on the EW - just a polite suggestion that it might be a nice feature to buy. I can't blame them for trying - they need to make money too. They no longer discount from MSRP due to market conditions, but they mentioned that they are the only dealer in the area that is selling at MSRP without a markup. However, their waiting list is very long. If you are interested, I suggest you get on their list now, because I'm sure many people will get tired of waiting 8+ months and drop off - or get on multiple lists and see who delivers first (like I did). Your wait could therefore be much shorter than they are quoting. Ask for Nicole Barkus, and feel free to PM me first for more advice.