Opinions on my situation?

It's a hard situation, I think. SUVs are really not selling well right now. That said, you're almost always going to do better in private party sale than if you trade in at a dealer. You should look around to see what cars like yours are selling for these days (i.e. check craigslist or carmax) to get an idea of how much you could potentially get for your MDX.

 

What are you talking about?

 

I guess look at it as how long it would take you to make up the $2500 difference in fuel savings... or if it's worth the loss to get a vehicle that shuts its engine off so very often.. It's fantastic to sit at a light or in a drivethrough and not be using a gas engine at all...

 

What was their reason for coming up short? Does the trade-in value of your MDX meet or exceed the cost of your desired Prius?

 

Well, you need to do what's right for you financially. Only you really know your situation.

How long do you have to get back to the dealer on the Prius? They're hot property right now and you need to be aware that the dealer may not be willing to wait too long for you. I think that you also need to consider that while the price of oil is high, your SUV isn't going to command a very good price. Sorry, I know I took a hit on my truck and that was two months ago.

If you want some perspective on what you might actually get for your SUV you could take it CarMax in Omaha. They do buy cars even if you don't buy one of theirs. That's where I sold my truck (OK, not at the one in Omaha, but you get the picture.)

Was it the "best" price I could have gotten? No probably not. I could have held out for a truly private sale, but I knew time was working against me, their offer was fair, and it was a no fuss, no muss transaction that was open to me immediately. Those last two intangible benefits sold me on selling them my truck instead of trying to milk every last penny out it with some poor schmuck I didn't know and etc.

Just some food for thought....Good Luck!

 

Most dealers aren't taking SUVs as trade ins at all.

And you're lucky to find a Prius without having to wait months.

A private sale will get your more than a trade in, whichever car you decide to sell.

Figure out how much gas you'll be saving right now by getting the Prius as opposed to continuing to drive the SUV. Then make a decision.

 

Are you saying you're "upside-down" on your trade?
Have you tried seeing what CarMax would buy it for? Or a local Acura dealer?

 

My wife works at our local Toyota dealer and they are "in general" offering several thousand dollars LESS than KBB or NADA for SUV trades due to the fact they are not selling and the wholesale values have plummeted.

She says many customers are upset and some just walk out but the fact of life is if the dealer can't recoup the trade ultimately they will not stay in business.

 

Your clarification changes everything in my eyes. If I were in your situation, with the MDX being paid off and all, I would be sitting in my new Prius right now. No joke.

The market is what it is. Sure you have done some upgrading to your vehicle but it's still an SUV and like people have mentioned, it's not an SUV market right now. I think you should take what you can get for it now. Then you will have the piece of mind in knowing that you'd be living green and paying substantially less for a full tank of gas. Oh and you have the exact Prius you wanted at the height of demand while the rest of us wish we were you.

But hey, that's just me.

 

In a private sale, there is no sales tax involved for you per se, and if there is one, its the buyer who pays that, not you. Its not an SUV market, but you have a decent vehicle in that it is an Acura, so tell them you want an even trade if possible. They are close, but they can sell your Prius for more than you will pay for it, if they are selling at MSRP, so sounds like a no brainer, get the Prius if thats the car you want.

 

I agree with BellaInAz.

You have no guarantee that a private sale would even equal what the dealer is offering you. And no idea how long it will take to sell.

In the meantime the dealer could sell your Prius out from under you and you'll have a wait of several months. With the possibility of paying OVER MSRP.

Consider the loss balanced by what you'll be saving in gas once you start driving your Prius.

 

You will recoup the 3200 in no time with buying less gas. The more you drive it the quicker you recoup. The MDX is nice but it is falling fast as the price of gas goes up. That wont change and likely will get worse.

The Prius will likely get more expensive as time goes by. I wont sell mine but was just offered more money for mine than I bought it for even with 5K miles on it. It will only get more valuable as time goes by. Think of the price of crude oil being your Prius.

I personally would drop the 3200 (offer them 2200) and run with the new prius.

I bet they would take then 2200 if you had cash. Even promise to service it there.

My suv got 15 to 17 mpg and it was killing me even at February prices for gas. I took a hit on selling it then. I have so much cash left over each month that I dont buy gas with it's incredible. Think it was like $800 month for gas then now about $100 maybe. My wifes Jeep Liberty was almost that bad. That $1000 a month difference in gas not bought will cure my upside down pretty quckly!

 

Prius is a great vehicle but so is MDX. Your MDX is paid for and has room for 7. Its quite a luxurious vehicle. Unless you really really want the Prius you can stay with the MDX.

Also - while the SUV market is hurting right now, it worst at the truck based SUV end (Expedition, Tahoe, Suburban) the cross-over market is doing a little better and many people (myself included) are considering downgrading from the extra large to the medium-large SUVs like MDX, Acadia, Enclave, TaurusX etc. These vehicles offer seating for 7-8 at about 25%-35% improvement in fuel economy.

Any way looks like you'll be driving a nice vehicle either way. Both Prius and MDX are great vehicles - just very different.

 

remember that private party sale and trade-in are very, very different values. dealer trade-in value is far lower than private party sale- double check what number you got from whichever website you were using.

also, you're trading from a used car (yes, you may have bought it new, but now it's used) to a new car. there will be a premium for that- new cars are expensive at purchase and expensive in depreciation hit in the early years.

how long will it take you to use $3200 in gas in the MDX? looks like about 13600 miles based on the epa rating of 17 mpg- so how long will it take you to drive that many miles? after that you start winning the game.

 

If you really want the Prius, $3200 is a small price to pay IMHO to get it done now.

If its not a hardship, I'd keep both. Take out a low interest rate loan on the Prius and hang onto the MDX until things get better. They will...this gas crisis and the press around it won't last forever. Even if prices don't come down people will get accustomed to it, just wait and see.

 

ditto.

SUV trade in values are dropping by the day.
whats the mpg on that thing, about 18?
oil popped up again today. if this keeps up much longer we'll be melting down SUV's for scrap metal.