Certified Pre Owned Worth It?

Welcome to PRIUSchat

How many miles per day/month would you be driving it? (12k can roll over pretty fast)

This sounds like it would be an older CPO hybrid that is no longer covered by the factory warranty?

Does this CPO include roadside assistance, and can you afford to be without a vehicle until it gets fixed?

 

Are we talking about a "factory" CPO program, or some fly-by-night third-party "coverage" that only serves to certify that the car has been pre-owned?
You're not mentioning a price to go with the 15,000 - 50,000 mile range.
Are you in a house or an apartment?

A couple of things.
1. Building credit is different than building wealth. Building credit means that you're sharpening a tool that you can use to go more deeply in debt. If you're a single parent, then the most important thing right now is the kid(s) and building a plan for college and what lies beyond that.
So.....I'd be careful about buying as much "car as you can afford" and concentrate instead on buying an affordable car which for you might not be a hybrid since it may be possible to get a dependable econobox without the hybrid components.
OTOH, gas prices in Caly are high and you'll be covered by additional CARB warranties that (are supposed to be) will cover certain items over a much longer period than Toyota's OEM warranty.

2. A Prius is basically any other small front-wheel-drive car up to about 100,000 miles as far as maintenance and repair are concerned - BUT(!!!!) as is true with children, those first few years are critical. Newer, base models are preferred over older loaded out cars.
Priuses will last "about" 10 years or about 225000 miles if they're well taken care of.
Once you figure out a budget (NOT a monthly payment!) then arrange for your financing first, and then the car.
If your credit score is low then you're still going to be MUCH better off getting a loan at a credit union rather than a dealer.
Once you have a budgeted amount (in $$$) and a loan then let's figure out how much Prius (or other car) we can recommend for the money.

3. In general, and especially with Priuses under 100,000 miles, it's ALWAYS better to forgo additional warranties excepting for ONE case - and that's people (men and women) who do not know how to interpret the schedule of maintenance and navigate the rough seas of maintaining a car.
Financial experts will say that AN OEM warranty or CPO coverage can be worth it for..........say, single parents who have low vehicle breakdown tolerances (job, daycare, school, etc)
However (comma!!!!!)

4. If you're a single Mom, then you're genetically pre-wired to be a better car owner than dudes are, because you know what you don't know, and you're used to taking care of kids.
You're (presumably) not a doctor, but you're not the least bit hesitant about acquiring data and making informed decisions about the kid(s), right???? It works basically the same with cars, only (and obviously) the stakes are lower.
Once you decide on a potential car, get back with the forum and let us help you find out how to make the car last 250,000 miles so that you can be saving for things like retirement and college instead of being shackled to car payments for the rest of your life!!!

Cast a wide net.
The internet is data RICH, but it can be fact POOR.

5. Some say Prii
Me?
I use "Priuses"
To be fair, I'm biased against "Prii", but most people in this forum probably like that pluralization better.
I want to live in a world where hybrids are "normal" and so I lean away from key words and tricky phrases.....

Your call.

Good Luck!

 

Welcome!

The Prius is a great car. Toyotas generally are quite dependable. If the size is not an issue, you might want to consider a Corolla. Although not a hybrid, it is pretty economical and reliable.

Personally, I bought a Prius instead of another Corolla because I needed the additional space in the Prius for my dogs. My 2008 Corolla is still going strong though.

 

I personally advise against financing any car purchase because cars are depreciating assets - they all lose money, so why pay more for one than you have to and risk losing it if you can't make payments?

The Prius is a good model overall and most model years have been very reliable. A certified pre-owned vehicle will meet certain requirements but will also cost more than a similar car that may meet the same requirements but is not certified. You will get the best deal by purchasing a car that is not certified but has been inspected and cleared by a Toyota dealer and which has verified records showing regular recommended maintenance performed over the life of the vehicle.

The extra warranty you would get with a certified pre-owned car essentially covers the powertrain for 1 year of driving. If you do your diligence when looking for a car, you're highly unlikely to need anything major done in a year anyway.

 

Define major problems.
Batteries, brakes, oil usage, electronics.

I'll add tire wear can be a major expense when on a budget for the CPO as 3/10 thread left vs 8/10 new calculate that cost.

12 volt batteries may only have last 3 years. Expect $200 replacement cost.

The hybrid battery just confirm your warranty coverage to 10 years and I think many engine smog related components go 8 years.

If the Prius was never crashed, one owner and a mechanic does a pre-purchase inspection (PPI) buying used can be a financial savings as depreciation in the first two years is the greatest value loss.

PPI can include, a leakdown engine test, brake pad measurement, and testing every function in the car. In my area labor rates are over $100 an hour and a good inspection can take 4 hours.

Prius can be very dependable as a car choice. With limited budget check your DMV, insurance, fuel cost (hybrid vs. regular) and value at trade in time to see if it pans out for you. Also some dealers, if always serviced at Toyota can access service history indicating the previous owners care.

CPO (cert pre owned) can be desirable, yet buyer beware as a dealer may process these cars as fast as possible. A leased CPO could not be desirable, yet maybe it can be. What is the premium for a CPO vs non-CPO. That one year warranty, if bumper to bumper, is again desirable for a used car. Get a copy of the CPO warranty contract to aid in your decision. So again buyer needs to do due diligence.

Good luck in your decision.

 

I know this is a forum dedicated to all things Prii; however, if it were me in your circumstance, I would not consider a CPO Prius with only a 12 month warranty. Look at Lexus 200h. For almost the same $, you can find a CPO Lexus 200h with the 6 year unlimited mileage CPO coverage. Best in the industry CPO warranty and a very reliable car. While I love my Prime, if I were to buy a CPO and hybrid was important and warranty was essential, Lexus 200h would be my choice. Just sayin'

 

The Lexus is another Toyota brand. The Lexus hybrid is basically the same as the Prius.

 

By the way, I don't mean to imply that I would buy a new 200h instead of a new Prius. I would choose a Prius all day long. But if warranty combined with longevity was important in a pre owned vehicle, I would choose the Lexus for the strong CPO warranty.

 

Or to widen the field, something like a Honda Fit? @The Electric Me went with that. It's one of those micro minivans, everything behind the front seats can convert to a flat floor, if I'm not mistaken.

 

I hesitate to come into Prius Chat and "sell" my Honda Fit ownership experience. When I traded in my Prius, I said I wasn't leaving Prius Chat. I'd hang around. BUT....I am mindful that this IS Prius Chat, and I figure you most of you don't want to hear about my Honda Fit adventures.
And I always kind of think, if someone is interested in a Prius, and going to the trouble of joining Prius Chat, then they are pretty sold on the idea of Prius and Hybrid ownership.

But I agree..if the OP is not 100% committed or tied to the idea of Hybrid Ownership then there are a lot of options that open up.
Obviously even beyond Honda Fit.

 

Well, since now you are asking...
I owned a 2nd Gen Honda Fit...2010, and it was great, and I feel very well built. Reliable.
Then I owned my Prius.
In the meantime, Honda came out with the 3rd Generation Honda Fit, and the first year they were built in a new Mexico City plant. There were early complaints of quality and fit and finish issues.
When I decided to buy a new Honda Fit...a big part was that the 2016 was once again assembled in Japan.
No regional prejudice here. I think good vehicles can be assembled in Mexico, Canada, The US, or Japan. But it honestly appeared that Honda had some new plant start up issues.

Only time will really tell. But this Fit seems solid. Less than a year ownership, but I haven't had any problems.

If the comparison only comes down to reliability? I would feel good about the potential of either a Prius...the reputation is excellent. Or Honda Fit. If you were buying a used Fit? I might avoid the early 3rd Generation Fits that were initially assembled in the newly opened plant in Mexico. Just seems like Honda had some start up issues, that took some time to work out.

But it really comes down to what you want. It sounds like you are hooked on Prius.
Well? I suspect I won't be able to talk you into the wonder of the magic of fold up seats.

And I would say...while I actually enjoy owning a sub-compact. For all it's wonderful configuration possibilities, The Honda Fit is a sub-compact. From a size standpoint it's much more comparable to a Prius c than a regular Prius.

Good Luck, I think you considering two great products, and neither would really be a mistake.

 

The Prius c is smaller than the Prius and designed for primarily city driving although highway will not hurt it.
It could be a good choice.

 

I would stick with the regular Prius, bigger and I think probably safer and the gas mileage is about the same.

 

Without going into the details of this thread, I am in the similar lines with bit flexible on the car's reliability. Bought a 28K miles 2013 Prius Plug in (Pearl white) for $14K (total $15.5K with DMV, tax etc) from Craigslist. I am happy. I just got it mechanic checked.
My auto insurance covers road side assistance.

 

Congrats!

 

Thank you...
I have opted prius between Lexus CT200H and PiP and for cost/benefit dollar value, I got PiP.

Alternative better option is CT200H