The cost of my new Prius is....

I just left a deposit on my new 2005 silver pkg#6, to be picked up on 1/2/2006. It took 3 weeks of research and I considered traveling to three other Toyota dealers within a 30 mile radius before my local dealer gave me the price I wanted.

Originally I wanted a 2006 pkg #4 which my local PA dealer said he could not get. The alternative was to move up to a 2006 pkg #6. Because of a problem I have with driving at night and a discussion on this board about the HID head lights I seriously considered moving up to a pkg#6 ( HID is not available on 2006 pkg #4). After getting lost on the way home due to an accident and an unfamiliar detour I really wanted the NAV system as well but the 2006 pkg #7 was out of my price range.

I had already set a maximum in my mind of spending no more than $28K (before any tax rebates) and this maximum was to include tax and tags. Planned on using $20K from mutual funds and finance the balance of $8K.

Dealer B quoted me MSRP for 2006 pkg #4 - would have to order - 120 days. This dealer also had a 2005 pkg #6 available for $27,900 plus tax and tags. This dealer would not discount off of MSRP.

Dealer C also said he could order 2006 pkg #4 at MSRP - 120 days. He had a 2005 pkg #4 coming in this week he could offer me at $1000 off of the MSRP. (The 2005 #4 has HID).

Dealer D had over 30 cars in stock - a mixture of 2005's & 2006's. I figured it would be worth the 30 mile drive to see if I could get a deal on a 2005 pkg #6.

Started with my local dealer - he could offer me $347 off the MSRP of a 2006 pkg#6 bringing the price down to $26K plus tax and tags. I told him I wanted to drive 30 miles to see dealer D and see if I could get a 2005 pkg#6 with NAV for $26K. He said sit tight and let him make some calls. Based upon the color, I think he swapped with dealer B and sold me the car for $26316 plus tax and tags. He also did the financing at 5.55% through Toyota for $8K for 3 yrs. (I could have gone through my local bank for 4.99% but the savings was not worth the hassle.)

I sold in December mutal funds that would generate a capital loss in 2005 to save myself $810 in taxes in 2005. The remaining mutal funds will be sold in 2006 to create a capital gain and just qualify me to take full advantage of the $3150 tax credit in 2006. PA may still have a money pool available to issue a $500 rebate for hybrid cars purchased in the state and I get a $10 cash back reward by putting a $1000 downpayment on my Discover card. I plan to pay off the 3yr loan in one year after I get my tax rebate. The net cost of my 2005 silver Pkg #6 including finance costs for 1 yr is $23,998.46. My dealer and I are both happy campers today!

Springtime

 

The homework was done on this board. I particularly want to thank Kiloran for his spreadsheets on the 2005 and 2006 MSRP and dealer profit so I knew exactly how much each option cost and how much wiggle room the dealer had.

Thank you people who discussed the value of HID - I have bad night vision and HID not being available in the 2006 Pkg #4 was key in my decision to eliminate that package from consideration.

Thank you to all those who talked about the NAV. The 2006 Pkg #7 with NAV was out of my pre established price range - but I am the one with no sense of direction and I was able to afford to get the 2005 pkg #6 with NAV for what it would have cost for the 2006 pkg #6 without NAV.

When I get my tax refund in 2007 and pay off my outstanding loan balance I will come here to buy the extended warranty.

I will chack out the stiffinng plate as you suggested.

I will also be donating to this site and pick up a free tee shirt. It has certainly saved me a bundle of money!

I guess I can say I am now officially a member of a cult! I know more about this car than any car I have ever owned!

Springtime