Ready to buy a Prius

Barb, as I have owned both a 2002 and a 2004 Prius I can give you my observations. While the 2003 might be a better fit for a first time driver (the car is a little smaller and has a tighter turning radius, making it easy to drive and park) I think the savings of only $3500 is not worth it. I'm not up with all the current prices of used 'classic' (2000-2003) prius's but I think the 2005 is a better overall car and gives you more bang for your buck. You might want to check ebay or other internet sites (cars.com?) and see if you can find a price for a similar 2003 prius. If you can get the dealer to drop the price on the 2003 I might suggest that, but as the deal currently stands I think you and your daughter will be happier with the more versitile and feature-full 2005.

Just my 2 cents. Hope that helps. I must say your daughter is quite smart, and also lucky to get a prius as her first car. Good luck!

-Peter B

 

When we shopped for our used Prius, we drove every year we could find. We have a 2002 because our budget couldn't swing the 2003 (we saw them for around $20,000), but we liked that year a lot. However, dealers are generally way overcharging for a 2-year-old vehicle, even with a decent number of miles. If you want to save money, find a 2003 through a private seller. I don't think the $3500 savings is a good deal over a new car with even better safety features, a warranty, and the knowledge that absolutely every oil change has been done.

 

Seems a little steep for a 2003 with 34,000 miles. I bought a 2004 with 18,000 miles for $21,000 from a local dealer. I would shop around for a better deal.

 

I wouldn't buy a brand new car for someone who is just learning to drive. The insurance costs just to have her driving are going to be really steep, and to insure a new car with a new driver is going to cost a pretty penny more than having her drive a used car.

She's one lucky kid.

 

I drive a 2001 Prius and would recommend that model highly as a used vehicle. The price you mentioned is not attractive however. There are several important differences to be considered between the two Prius models.

One option that was not available until 2002 is the side air bags, and now with hindsight I might prefer to have waited for those.

 

I think my dealer mentioned 16K for a 2003, but it could have been 2002. I wouldn't pay more than that. Might as well get a base model 2005!
How about a used 2004? Wouldn't do it at a dealer thought, if they are overcharging for a classic, they certainly will for the THSIII

 

Heck you can buy a brand new 2005 with package #4 - smart key and air bags for around $25k (with all the fees) so the 2003 seems high priced. Unless you can get the dealer to offer it for maybe bottom line $20-21k. Personally, I would go throuh private channels instead of a dealer. Just make sure you take the car to the certified dealer to have it checked out before pruchase. Also I would pull up a car history on the vehicle just in case.

As far as a new driver if she can keep her grades above 3.0 she will get a good student discount and also take a defensive driving course (only some insurnace offer this discount).

 

<div class='quotetop'>QUOTE(Barb7\";p=\"77296)</div>

No-brainer as far as I'm concerned. Buy new. For the extra money you get more driving under warranty, risk-free inheriting problems, new tires, blah blah. Now when you look at the intangibles of "cool" - updated features, picking out the car you want, "new" car, versus saving $5/month on the payment? No brainer for me.

 

I am also going to weigh in here as the Sub-Parent of a soon-to-be new driver. My younger stepson is 17 1/2 and is chaffing at the bit for a driver's license. Since my hubby has already been down the teenage boy driver on the insurance road we are not eager to go there again (the trip sucked, and was expensive to boot).

My hubby bought a used Ford Ranger with about 40,000 miles on it from a dealer for his oldest son when he was 17 1/2 (he's 21 now). Boy, did he get rooked on the deal. By the time the kid was done with the car a mere year and a half later he had added almost 100,000 miles to the odo, disassembled the interior light (and couldn't/didn't put it back together), had 3 accidents (2 minor, 1 not so minor) and cost us a bundle. When we traded that monster in to get my Prius we were $4600 upside down on the loan and got a whopping $500 on the trade (and considered ourselves lucky to get that!)

I have a sneaking suspicion that part of the reason he was so cavalier with his first car is that it was not brand new to start, there is alot to be said for the value of the psychological effect of "new car smell" (and the other part is because he was a dolt).

Now, luckily you have a daughter so your insurance hit for her will be a little lighter than it is for us just because of her gender (BTW, this is the one time when gender bias and stereotypes will work in your favor).

I would concur with all the other opinions that used might be a good idea to start, especially if you can find a private party sale. Be sure to check the Private Party Sales thread here at PriusChat.

However, as your daughter has already demonstrated (to me at least) her extreme intelligence by wanting a Prius. And as she won't even be able to get behind the wheel for at least 6 months, this could be a car that you could use and enjoy before turning it over to her, so I think that I would suggest that you strongly consider getting the new (or newer) model (2004 or 2005).

Whether you buy new or used if you purchase through a dealer you are going to take a hit as soon as you drive the car off the lot. There is alot to be said for being able to get something for your money. Namely, piece of mind. If you purchase a low mileage '04 or a new '05 you should have warranty time available either to add on to (if you bought used and the mileage is under the 36,000 point) or should get benefit of a full unused warranty period (new = 3yrs/36,000 starting the day you take delivery).

This alone might help to ensure that once you turn this car over to your daughter she might be better able to afford the maintenance necessary to keep the car in tip top shape all through her high school and college years.

These cars don't need much (oil change and tire rotation every 5,000 miles) but if she is anything like I was the first thing that she will skive off will be the tire rotation and then $20.00 oil change. If anything else should need repair (unlikely, but it happens - remember these cars are as much vehicle as computer on wheels) it should be able to be taken care of for no cost under the warranty.

If the car is significantly older ('01 - '03), and if the previous owner did not purchase the extended warranty (which is fully transferable for a $50.00 fee) you could run the risk of not having the warranty to fall back upon. Some of the gizmos in these cars would be pretty pricey should they fail and could make life unpleasant to say the least if your daughter is left unable to afford the repair. Of course, as she will not be legally able to take responsibility for the vehicle for 2 years guess who that expense will fall to? Go ahead, guess.

Also with a new purchase you have the ability to decide exactly what options you want it to have. I also agree that the extra side curtain airbags are a must. SKS is a great feature as well and as they can come bundled together for $1100 (package #3 or BI) it is a great deal.

The reason I think that SKS might be a good idea for her is safety. The car will light up upon approach (nice when walking up to it at night) and open at the touch of her hand, no fumbling for keys.

Also, unless you change it or have it changed, the only door* (driver or front passenger) that opens when the car unlocks for you with SKS is the one you touched (* This is true unless you open the hatch first in which case all four doors will unlock). The other three doors remain locked so it would be less likely that someone could decide to jump into her car unexpectedly.

Now with new drivers it is to be expected that there will probably be at least one fender bender in their future. I know in our case, we want our son to be in something that is safe so that all it ends up being is a fender bender not a funeral.

With an exceptional rating where safety is concerned (this car didn't win European Car of the year for 2005 against all comers for nothing, and it is also one of Consumer Reports top ten again) the Prius is a really good choice.

Yes, insurance for her will probably be high. But, oddly enough, this is an area where this car may be able to help you out as well. The additional airbags, built in theft deterrant system, VSC or Vehicle Stability Control (depending on the package) virtually non-existant theft rating and classification as a "Mid-Sized Sedan" could actually put you in line for some discounts where the rates are concerned depending upon your carrier, despite her age.

One thing that I forgot to ask, which model does she like best? Is this being factored in or is it secondary? If you are willing to give her such a valuable gift, unless she has her heart set on a classic, you might as well go ahead get the new or newest one you can find.

Oh, and don't forget that the $2000 tax credit only applies to the purchase of a NEW hybrid vehicle by 12/31/05. Factoring that in, depending upon your tax bracket the difference in cost between a new car and a used one might be razor thin.

The classics are wonderful cars. And, looking into the not too distant future I can see them being quite a collector's item owing as much to their scarcity as to their pivotal place in automotive history. Still, even with that weighing in their favor, I would say that the 2nd generation ('04 or '05) might be a better choice in this case.

Whatever you decide, as long as it is a Prius you will both be very happy for a long time to come.

Good luck and let us know what you decide to do.

Take care,

Tisza

 

<div class='quotetop'>QUOTE(Barb7\";p=\"77296)</div>

When was the last time you called? And where are you located?? Wait times have dropped tremendously in most areas of the USA. Last month my dealer said wait times here in the Sacramento area were down to about 30 days for any model Prius.

$22,451 sound like a great price . . . FOR THE DEALER! :x Run, don’t walk from those sharks!

For only $3,300 more you can buy a much more versatile and advanced 2005 AM “Safety Model†with about six miles on the odometer and a new warranty period . . . and that price is taking into account high California tax and license fees! And as Tisza said . . . the tax break - for new purchases only - should save you several hundred dollars, and make your choice that much easier.

Many PriusChatters have flown hundreds of miles from home to purchase the model of their choice. Not all models are readily available in all areas.

For a new teen driver, I would absolutely purchase a 2005 AM model. The “Safety Model†stuff, just in case you don’t know are:

Vehicle Stability Control (VSC): Helps driver maintain vehicle control under adverse conditions. It can prevent the car from sliding sideways out of control - such as while driving through a curve, or hitting a patch of oil or ice. (I recently played with the VSC on snow and ice and COULD NOT get the car to go out of control! And I was trying!!!)

High Intensity Discharge headlamps (HID): Much better night visibility.

Fog lights: Kind of wimpy . . . but better to be seen with in foggy conditions.

The only other Prius model package with these items is the top of the line BC, but I feel a car with all those bells and whistles would be distractive to a new teen driver. (Daughter, don’t you go hating upon me!)

The AM model also has the front seat-mounted and front and rear side curtain airbags and the Smart Key System (SKS).

More info on VSC (a.k.a. ESC) is available from the Insurance Institute for Highway Safety:
“ESC reduced fatal single-vehicle crash risk by about 56 percent.â€
http://www.hwysafety.org/news_releases/200...04/pr102804.htm

This car will see your daughter through college . . . even if she were to earn a Doctorate!

P.S. Welcome to PriusChat! As a welcoming present, and for asking such a smart question, I hereby double your PriusChat Points to four!

 

If you can afford to buy your daughter's first car for 22,451 then u can probably swing the extra 3500. not much of a decision in my book.

 

i have to agree with everyone else. get the new one. a used car is an unknown quantity and plus, you are not getting a bargain anyway. what you quoted is $16 less than what i paid for my brand new 2004. factor in the rebate and its $316 less. that is taxes, license and delivery included.

 

<div class='quotetop'>QUOTE(Widdletink\";p=\"77822)</div>

My only discounts are the multi-car discount and airbags. My insurance company doesn't care that I am a grad student with a 3.5 gpa, or that my car has an engine immobilizer, or that it's midsized.

Who do you go through???

 

dont you get discount for ABS? i thought all ins companies did that one

 

nope, just multi-car and airbags...

i hate my insurance company.

 

What a dad! If you are going to spend that kind of money on a sixteen year old, for sure buy a 2006 AM. Be advised that some dealers are now below MSRP and that it will only get better. Wait till the last minute and line up the best deal

 

<div class='quotetop'>QUOTE(galaxee\";p=\"77900)</div>

So, make a phone call!