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Gen IV savings account

Discussion in 'Gen 4 Prius Main Forum' started by Emcguy, Oct 12, 2013.

  1. Emcguy

    Emcguy Member

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    Last week I opened a high interest account and will start saving for the 2015 model, it may even be enough by then to make the jump to PIP. Is anyone else considering or already doing the same?
     
    #1 Emcguy, Oct 12, 2013
  2. Paradox

    Paradox Prius Enthusiast / Moderator
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    You may have time to save more if the Gen IV is a 16' model and not a 15'.
     
    #2 Paradox, Oct 12, 2013
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  3. fuzzy1

    fuzzy1 Senior Member

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    Never mind the car, what sort of yield are you getting for 'high interest'?
     
    #3 fuzzy1, Oct 13, 2013
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  4. Paradox

    Paradox Prius Enthusiast / Moderator
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    I know right, I've got a 'high interest' account through AMEX and it's a measly 0.85%. Started at 1.3% when I opened it and has dropped to what it is now...
     
    #4 Paradox, Oct 13, 2013
  5. Emcguy

    Emcguy Member

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    Only 2.75% but it shows I'm dedicated to the cause ;-)
     
    #5 Emcguy, Oct 13, 2013
  6. TonyPSchaefer

    TonyPSchaefer Your Friendly Moderator
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    I didn't see this thread last year. It's now 12 months later. How's that account holding up, @Emcguy ?
    The 2015 model year is actually the 2016 and the reveal was pushed back at least six months. This should buy you some more time.

    As for me, I opened a "next car" Certificate of Deposit in anticipation of the Gen3. I ended up not getting one but have continued rolling over and contributing to the CD over the years. I'm felling pretty confident that there's a Gen4 in my economic future.
     
    #6 TonyPSchaefer, Oct 8, 2014
  7. jlaibson

    jlaibson Junior Member

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    Where in the world did you get 2.75% on savings???
     
    #7 jlaibson, Oct 8, 2014
  8. bisco

    bisco cookie crumbler

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    my 'high interest account' is a one year 1.05% cd. however, if you invested in the stock market last year, you could probably afford a gen IV now.
     
    #8 bisco, Oct 8, 2014
  9. DaneH5

    DaneH5 Member

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    Navy federal credit union was doing a 5% one year CD.
     
    #9 DaneH5, Oct 8, 2014
  10. bisco

    bisco cookie crumbler

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    wow, is that open to anyone?
     
    #10 bisco, Oct 8, 2014
  11. DaneH5

    DaneH5 Member

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    Active duty or a veteran.
     
    #11 DaneH5, Oct 8, 2014
  12. Emcguy

    Emcguy Member

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    Australia is slowly heading toearfs 0% cash rate but is somewhere in the 1's at the moment.
     
    #12 Emcguy, Oct 8, 2014
  13. DavidA

    DavidA Prius owner since July 2009

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    My 2.5 year earmarked GenIV CD at the bank will mature in two months. That's when I would have thought the Gen IV PIP would have been announced. So I will be ready to buy one then, but unfortunately Toyota is t a k i n g__ i t ' s__s w e e t__ t i m e.
     
    #13 DavidA, Oct 9, 2014
  14. bisco

    bisco cookie crumbler

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    mmm-hmm.
     
    #14 bisco, Oct 9, 2014
  15. Mendel Leisk

    Mendel Leisk Senior Member

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    Tangerine (formerly ING Direct) basic saving account is currently 1.3o%. It's a simple, no fees, no lock-in account.

    That's in Canada, not sure if it's in the States too.
     
    #15 Mendel Leisk, Oct 9, 2014
  16. vinnie97

    vinnie97 Whatever Works

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    Wow, Ing got divested something serious. In the states, ingdirect.com gives me one of two options, Capital One or Voya (first I've heard of the latter). I remember previous to this they had one of the highest savings rates (still pisspoor in this economy that punishes savers). Capital One's a joke (0.75%).
     
    #16 vinnie97, Oct 10, 2014
  17. Ashlem

    Ashlem Senior Member

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    My local credit union, Landmark Credit Union, offers a checking account with whopping 7.5% APY on the first $500, then .20 % on the rest of your money. Meanwhile the interest rate in their savings account is a mere .15%, which is still higher than the banks around SE Wisconsin.

    So basically I'm making a minimum of about $3.13 a month in this account, plus a little bit more for any money I have above the $500. So for me it seems that just leaving my money in this account will pay me more interest (which then gets taxed more ugh) than putting it in my savings account (which earns pennies by comparison, though admittedly I'm not putting much into it either due to the checking account earning more interest) or even a money market account.


    Deposit Account Rates - Landmark Credit Union


    Unfortunately you have to live or work in Southeastern Wisconsin or in Northwest Illinois to become a member.
     
    #17 Ashlem, Oct 10, 2014
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