when should you trade in your Prius,before it becomes a money pit?

Discussion in 'Gen 2 Prius Main Forum' started by ski.dive, Oct 15, 2012.

  1. LeVautRien

    LeVautRien Member

    Joined:
    Jul 23, 2004
    379
    2
    0
    Location:
    New Orleans
    Vehicle:
    2004 Prius
    Model:
    N/A
    The is the right view of what makes something a money pit.

    I always hear people say that to them, a car isn't worth repairing when the repairs exceed the value of the car. Like if a car was worth nothing but parts, and you needed a new traction battery. But that's irrelevant.

    All you have to do is compare repair costs against the costs of buying a replacement car. The value of the current car is worthless beyond using that value to calculate the profit from a sale/trade-in for your calculation.

    After you do that basic analysis, it's then a question of if personal factors weigh the decision in any way. Really want a new car? That's worth something. Limited cash flow or savings pile for possible big repairs that don't come in nice monthly bills? Etc.

    Given the desirability and cost of the Prius, new and used, it's going to be a ton of miles before the car becomes a money pit.
     
  2. JMD

    JMD 2012 Prius 4 Solar Roof

    Joined:
    Oct 11, 2012
    3,779
    1,278
    0
    Vehicle:
    2012 Prius
    Model:
    Four
    What is peace of mind worth? Buying a new car you know what the monthly expenses will be. Driving an old car may be nice to not have a car payment but bamm a $2,000 repair bill comes and you got problems.
     
  3. romad

    romad 2004 Prīus Package 6 Owner

    Joined:
    Jun 28, 2006
    291
    54
    3
    Location:
    Oroville, California People's Repub./Prescott, AZ
    Vehicle:
    2004 Prius
    Model:
    N/A
    We got the Prius in 2004 when my wife's previous car (bought in 1989) was "nickel-and-diming" us to death.
     
    Eric Nothman and JMD like this.
  4. JetAgeHobo

    JetAgeHobo Junior Member

    Joined:
    Jun 16, 2011
    41
    5
    0
    Location:
    St. Louis, Mo
    Vehicle:
    2007 Prius
    Model:
    N/A
    But, in 15 years technology will have evolved, so that even the 2013 Prius will seem very obsolete. Oh boy ONLY 45mpg? You mean you have to steer it yourself? :)
     
  5. JMD

    JMD 2012 Prius 4 Solar Roof

    Joined:
    Oct 11, 2012
    3,779
    1,278
    0
    Vehicle:
    2012 Prius
    Model:
    Four
    I agree. In fact the Gen 4 will make the Gen 3 an old hat.
     
  6. AllenZ

    AllenZ Active Member

    Joined:
    Jul 9, 2010
    630
    57
    0
    Location:
    Chicago
    Vehicle:
    2010 Prius
    Model:
    Five
    If you absolutely can not stand that color, don't buy it. I don't believe it is so hard to find a used Prius with your favorite color, especially if you buy from dealer. I don't mind paying $500 to $1000 more for my favorite color, and if you are lucky, you might even get a better deal. So, good luck!
     
  7. SageBrush

    SageBrush Senior Member

    Joined:
    Jun 4, 2008
    11,627
    2,521
    8
    Location:
    Southwest Colorado
    Vehicle:
    2012 Prius v wagon
    Model:
    Two
    Tech advance seems likely, but I was only talking about money.
     
  8. Randy G.

    Randy G. Member

    Joined:
    Aug 12, 2006
    113
    28
    0
    Location:
    Fullerton, CA
    Vehicle:
    2012 Prius
    Model:
    Five
    Nice wheels!
     
  9. Fubar1764

    Fubar1764 Member

    Joined:
    Sep 10, 2012
    127
    41
    0
    Location:
    Houston, TX
    Vehicle:
    2008 Prius
    I guess you have a Pontiac Aztek. . .:ROFLMAO:
     
  10. Fubar1764

    Fubar1764 Member

    Joined:
    Sep 10, 2012
    127
    41
    0
    Location:
    Houston, TX
    Vehicle:
    2008 Prius
    The Tesla is pretty heavy because of the batteries. And then you turn the corner. . .ugh. Compared to the Elise, it's a bulldozer. In short, it's not as lithe as the Elise.
     
  11. SageBrush

    SageBrush Senior Member

    Joined:
    Jun 4, 2008
    11,627
    2,521
    8
    Location:
    Southwest Colorado
    Vehicle:
    2012 Prius v wagon
    Model:
    Two
    Don't know, don't care. I DIY replaced the original pump as a preventive measure for about $90 at 120k miles, and I'll do the same at 250k miles if needed. I hope to be faster the second time around ;)

    While some people try to figure costs assuming every squeak deserves a trip to the dealer, I am much more interested in costs I cannot take care of with inexpensive spare parts and a few hours of my time.

    Disclaimer: if I have reached the 30th percentile in mechanical ability I've improved, courtesy of PC and my wonderful Prius
     
  12. a_gray_prius

    a_gray_prius Rare Non-Old-Blowhard Priuschat Member

    Joined:
    Jun 13, 2008
    2,927
    774
    0
    Location:
    IL
    Vehicle:
    2008 Prius
    Model:
    N/A
    Never driven a roadster, but I've driven an Elise and an Exige S260 and am in line for a Model S.
     
  13. sorka

    sorka Active Member

    Joined:
    May 9, 2008
    978
    187
    0
    Location:
    Merced, CA
    Vehicle:
    2019 Prius
    Model:
    Limited
    My '95 SC400 (made by Toyota), which I've had since '98, has 320K miles on it and has had not major repairs. In fact, repairs over it's life total less than $1000. From a capex standpoint, it's the cheapest car to drive I've ever had.

    I fully expect our Prius to rearch 300K too without major repairs otherwise I wouldn't have bought it. Only time will tell.
     
  14. romad

    romad 2004 Prīus Package 6 Owner

    Joined:
    Jun 28, 2006
    291
    54
    3
    Location:
    Oroville, California People's Repub./Prescott, AZ
    Vehicle:
    2004 Prius
    Model:
    N/A
    Good luck! Our Prius had to have 2 major repairs before it reached 100K miles: Inverter Coolant Pump, and Steering.
     
  15. JetAgeHobo

    JetAgeHobo Junior Member

    Joined:
    Jun 16, 2011
    41
    5
    0
    Location:
    St. Louis, Mo
    Vehicle:
    2007 Prius
    Model:
    N/A
    Somehow after owning one, I'm just not that impressed. Mileage, yeah great. All else, Meh,
     
  16. AllenZ

    AllenZ Active Member

    Joined:
    Jul 9, 2010
    630
    57
    0
    Location:
    Chicago
    Vehicle:
    2010 Prius
    Model:
    Five
    Ha, I almost bought that car in 2007, but finally I settled with LS400 98', due to its 5 speed transmission and newer engine (same as 2001 - 2003 LS430), and the refreshment of the body style. Both are excellent cars in my view. Sometimes I love my LS400 better than Prius. At 183K, still not burning oil. My Prius consumes 1qt/2K since 150K.
     
  17. Avi's Advanced Automotive

    Avi's Advanced Automotive Independent hybrid repair shop

    Joined:
    Jun 28, 2012
    775
    359
    0
    Location:
    Los Angeles, CA
    Vehicle:
    2005 Prius
    Model:
    Three
    The inverter pump was covered by recall and therefore shouldn't count. Also, $600 for an inverter pump is ridiculous, even though I see dealers charging this all the time. What was the deal with the steering?

    Avi
     
  18. Avi's Advanced Automotive

    Avi's Advanced Automotive Independent hybrid repair shop

    Joined:
    Jun 28, 2012
    775
    359
    0
    Location:
    Los Angeles, CA
    Vehicle:
    2005 Prius
    Model:
    Three
    Ewww, you have to put gasoline in it?
     
  19. FL_Prius_Driver

    FL_Prius_Driver Senior Member

    Joined:
    Jun 17, 2007
    4,319
    1,526
    0
    Location:
    Tampa Bay
    Vehicle:
    2010 Prius
    Model:
    I
    The Prius Money Pit is pretty shallow for me. I'm still using the 2001. The "REAL" decision point of when to buy a new car is when the wise one of the family (hint-not me) refuses to drive a vehicle that has become unreliable. The only exception is that I get a free pass on Lead Acid Battery replacements. Otherwise, any consecutive failures out of the blue failing to start or run smoothly means car shopping time has arrived.

    Like I said earlier, the 2001 has been amazingly reliable for a first year of a completely new design.
     
  20. romad

    romad 2004 Prīus Package 6 Owner

    Joined:
    Jun 28, 2006
    291
    54
    3
    Location:
    Oroville, California People's Repub./Prescott, AZ
    Vehicle:
    2004 Prius
    Model:
    N/A
    Nope, it failed years BEFORE the recall, so it counts. On the plus side is the Toyota did re-imburse me after the recall was issued.

    As for the steering, see my earlier posts in this thread (short synopsis: earlier recall performed using sub-standard parts which broke; repaired with new sub-standard parts which broke again; new recall out on steering so I hope that Toyota will re-imburse me for the previous post-1st recall repair.)
     
Loading...