Trading up

Discussion in 'Prime Main Forum (2017-Current)' started by EV Happy, Apr 14, 2020.

  1. pghyndman

    pghyndman Active Member

    Joined:
    Dec 27, 2018
    302
    288
    0
    Location:
    CT shoreline
    Vehicle:
    2021 Prius Prime
    Model:
    Limited
    Federal and state (where available) tax credits really sweeten the deal. We traded our 2018 Premium for a 2020 Limited(wanting the extra features) for a tad more than $2200 after tax credits. Not being encumbered by loan or lease payments is very freeing (the only way to fly IMHO).
     
    #21 pghyndman, Apr 14, 2020
    Last edited: Apr 14, 2020
  2. Trollbait

    Trollbait It's a D&D thing

    Joined:
    Feb 7, 2006
    16,585
    7,818
    0
    Location:
    eastern Pennsylvania
    Vehicle:
    Other Non-Hybrid
    There was member here that had a side job of buying new Toyotas, drive them for a couple years, and them export them to Canada.
     
  3. huskers

    huskers Senior Member

    Joined:
    Aug 21, 2005
    2,508
    2,443
    0
    Location:
    Nebraska
    Vehicle:
    2017 Prius Prime
    Model:
    Prime Advanced
    15,000 miles on a 2017? You must just drive it to the mail box and back.
     
    Montgomery, jerrymildred and EV Happy like this.
  4. The Electric Me

    The Electric Me Go Speed Go!

    Joined:
    May 22, 2009
    9,083
    5,776
    0
    Location:
    Undisclosed Location
    Vehicle:
    Other Non-Hybrid
    Model:
    N/A
    Sure.
    But when I'm offering my nearly useless advice. Unless the OP is really specific about what they are doing, and the parameters surrounding what they are doing, I give a broad brush stroke advice.
    I'm assuming here the OP isn't going to get HUGE rebates, a really fantastic discount, and/or an equitable or more than equitable trade in. Because my opinion is that isn't the norm, in most transactions of this ilk.
    I also assume, that the OP isn't planning on eventually exporting to Canada.

    As I did say,
    If by hook, crook, bell, book or candle you can trade in a vehicle and make money? Who would NOT do it?
    Also, if you just want to do it, and have the financial resources. It's kind of up to all of individually, what we want to drive, and how much we are willing to invest in what we drive.

    Personally, from what I read from the OP's original post, I wouldn't do it. But really, that's just me, and my less than 2 cent advice.
     
  5. EV Happy

    EV Happy Member

    Joined:
    Aug 1, 2018
    63
    39
    0
    Location:
    Florida
    Vehicle:
    2017 Prius Prime
    Model:
    Prime Advanced
    You are right on with what I am figuring.. bought this one in Oregon as deals were good. There is no way I am calling the Florida guy back. If I could trade for 6k and get a $4500 rebate...might be interested but that is a lot of driving for any thing less.
    Thanks.. Last time I drove from MN to Oregon to buy this one. The car is now in my Florida residence. It really does have 15,000 miles and if I could find the right deal I would drive it there and trade. Be driving back to Mn with it soon so options are open. If I could trade right and get the $4500 from the government, I would be interested.. Thanks for responding.
     
    bisco likes this.
  6. bisco

    bisco cookie crumbler

    Joined:
    May 11, 2005
    92,388
    41,793
    0
    Location:
    boston
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Base
    with that kind of mileage, why drive a hybrid at all?
     
    Trollbait likes this.
  7. sam spade 2

    sam spade 2 Senior Member

    Joined:
    Mar 31, 2018
    5,142
    2,092
    0
    Location:
    USA
    Vehicle:
    2017 Prius c
    Model:
    Four
    I think it's worth more than that.
    I get those offers ALL THE TIME. Sometimes for cars I haven't owned for years.
    It is just another marketing "gimmick". Don't fall for it.
    The fact that it is a hybrid and potential rebates are involved only gives them more things to confuse you with.
     
  8. benagi

    benagi Active Member

    Joined:
    Jan 4, 2012
    525
    278
    4
    Location:
    Utah
    Vehicle:
    2017 Prius Prime
    Model:
    Prime Advanced
    I also have a 2017, which I bought at the end of 2017. Mine has just under 15,000 miles on it. I drive it back-and-forth to work every day in EV mode. I probably have 14,500 miles of EV and less than 500 miles using gas.
     
    huskers likes this.
  9. Prodigyplace

    Prodigyplace Senior Member

    Joined:
    Nov 1, 2016
    11,677
    11,250
    0
    Location:
    Central Virginia
    Vehicle:
    2017 Prius
    Model:
    Two
    I have a little over double that number on my early 2017. I though I was at the lower end of what a Prius could tolerate for activity level. A Prius prefers to be driven.
     
  10. PT Guy

    PT Guy Senior Member

    Joined:
    Nov 23, 2016
    839
    600
    0
    Location:
    Washington, the state
    Vehicle:
    2017 Prius Prime
    Model:
    Plug-in Advanced
    #1...Can you take the full $4502 federal tax credit? It is not a rebate. It is not a refundable tax credit. Look at your most recent 1040. Find the line for total tax. (2019 line 16.) Estimate your 2020 total tax. If it's less than $4502 you only get the amount shown on the total tax line, and you don't get the rest.

    #2...Bloomberg recently had an article about how used car inventories are soaring and values dropping. Wholesale auto auctions like Manheim are flooded with cars. Rental companies also have a huge surplus of cars that aren't being rented and will be sold. People are not buying. Expect a low offer for your trade in.

    #3...If you're still interested, get numbers from the dealer. Of course, the car dealer is a professional at throwing numbers around to make our heads spin. Shields Up!
     
  11. EV Happy

    EV Happy Member

    Joined:
    Aug 1, 2018
    63
    39
    0
    Location:
    Florida
    Vehicle:
    2017 Prius Prime
    Model:
    Prime Advanced
    I called a dealer that had a prime in North East United States. Gave me a cash price of 30k but when out the door with licensing, freight, sales tax and whatever it was like 33K. I don't say it was a bad price but when I take my fed rebate off and look at what I could get for my car, the price per mile to drive my 15k miles is not pretty. I just don't see it happening.
     
    CarlB and Prodigyplace like this.
  12. CarlB

    CarlB Junior Member

    Joined:
    Mar 1, 2020
    70
    67
    0
    Location:
    Minnesota
    Vehicle:
    2020 Prius Prime
    Model:
    Limited
    Any chance to find a flatbed driver? If they have a few other vehicles to haul as well, it can be worthwhile for them. Worked out well with the dealer I worked with, they wanted to make the deal happen, so found the driver. $650 - but offset by the $3500 cash rebate.

    Ah, I get it - it's not the drive or a flatbed, but the cost of owning the new vehicle going forward vs. just keeping the old one. Sure, it's tough to beat hanging onto the older car. Even with needing new tires sooner, and some parts of the warranty expiring sooner.

    But these cars will last a good long time, so your best financial move is to keep the old one.
     
    #32 CarlB, Apr 19, 2020
    Last edited: Apr 19, 2020
Loading...