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2004-2009 Toyota Prius Prices Paid and Buying Experience
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Also, be careful with Toyota in the SE region. At least here in South Florida, almost all cars on the lot have the over-priced "Toyo Guard Protection" for $700 to $800- which is nothing more that VIN etching, Scotchguard, car wax, and rust-proofing (which is irrelevant for the short period of your lease). This "Protection" costs the dealership less than $80 and is a source of PURE profit for them. You should negotiate with them as if this "Toyo Guard" doesn't exist when you run your numbers.
This is actually a really tough question in my opinion. I live in mid OR and in all honesty, gas is at the $3.00 mark. Shen we were in CA a few weeks back, it was $3.30 and about $3.50 up in Tahoe. With the economy not doing so well, it being the end of the year, car lots in the area overflowing with excess stock (cars), dealerships needing to hit end of month/year quotas, this is definitely a prime time to buy.
I looked very closely at the hybrid Civic and Prius (both '08 models). The '08 Civic hybrid still has the full federal tax break for about 3 more weeks, then they begin to phase it out progressively. Right now, it's about $2,400, assuming you're not hit with AMT and qualify for the full refund. Additionally, Oregon offers a state tax break of about $1500 for either the Civic or Prius, so, you're talking about an almost $4k tax break if purchased soon. In all honesty, I was very close to buying the civic, did the research, etc. It's basically like buying a fully loaded LX, but, instead, for the same price you get the hybrid engine/system.
If it comes down to simply an economic decision, I'm not sure how you would beat the Civic at this point with the tax rebates in OR and full federal. CNN also just printed a nice article detailing it's analysis of how the hybrids stack up. Note, that the write up didn't take into account potential state tax credits. This article also does its best to compare apples to apples. It's probably not fair to compare the Prius to anything other than a non-hybrid that is about the same size/class. CNN suggests this equivalent would be the non-hybrid Camry for the Prius because it is bigger than the hybrid Civic or something like a Ford Focus.
http://money.cnn.com/galleries/2007/autos/0711/gallery.hybrids_that_pay/index.ht- - ml
I was getting dealer quotes for the hybrid civic (without nav) for high 21s. Assuming I would get the nearly 4k in write offs, that's about 17k for a very nice hybrid w/outstanding manufacturer reputation.
Having said all that, I still went with the Prius. With package #2, you can find them in the low to mid 22k range out here and I still receive a $1,500 rebate from my state. So, why a Prius? First of all, I do more in-city driving, so, this specific type of driving evidently favors the Prius as it runs more often on battery up to about 30mph and gets nearly 10mph better gas mileage than the Civic in comparable contexts. #2, I just couldn't get over the back seats of the Civic not folding down. I guess the batteries are placed in such a way that they simply don't allow you to do this. Ouch! Having several more cubic feet of space in the back seat area AND in the hatchback (yes, it's a hatchback, not a trunk) was huge for us.
We currently have a Jeep with a V8 and run about 14mph to the gallon. When I ran the numbers, I actually chose the Prius simply for economic reasons and found the carbon emission benefit an added plus. The CNN article I mentioned suggests it would take about 4.2 years or so to pay for the premium placed on the hybrid cost. However, that does NOT take into account state tax rebates, assumes the driver puts 15k on his/her car (the average is probably higher for most of us on the west coast) and that the price of gas stays in a certain range, so, it might likely be more in the 2-3 year range for us to hit the magic equivalency "requirement". Since this is a Toyota, we honestly assume we'll have this car for 10-15 years. With that in mind, it's hard for me to imagine why everyone doesn't own a Prius as their main in-city/commuter car. In all honesty, I'm not surprised it's the car of choice in the Bay Area and in our area of OR; it makes financial and environmental sense for most, especially if the price of gas does move back up near $4.00 a gallon and stays there for awhile. When that happens again, you better hope you have your name on a waiting list
At $7/gallon that's $700/year or a 9 year payback.
I would choose a Prius over a Civic hybrid for sure if I were a predominant city driver. Moreover, the Prius is the premiere car and will lord it over Civic when it comes to resale.
Why buy a hybrid over Fit or Yaris? It's a good question. I did it partly as insurance against high gasoline prices and partly as a matter of eco-chic. A far better solution, at least for hwy driving is a Prius WITHOUT hybrid, just a 70hp motor. I called Honda and begged them to sell the Fit as a 1.0, 1.2 or 1.3 liter model but they told me the smallest engine the American market would tolerate is their 1.5liter, 109hp. A conventional Fit with a 1.0liter engine would cost at least $6,000 less than Prius and would get better mileage on the hwy. And it's a far better car in terms of ride and handling.
Bob
Your points make a lof sense in terms of pure economics, but, again, we really value the larger interior space that you find in the Prius versus a Fit or biycle Take care.
see below for excellent comparisons of best fuel-efficiency:
http://www.consumerreports.org/cro/cars/buyingleasing/most-fuelefficient-cars-20- 6/index.htm?resultPageIndex=1&resultIndex=1&searchTerm=most%20fuel%20efficient%2- 0cars
As to bikes, you are definitely on to something!! . . . I own an electric bike (properly, a power-assisted bike) and I toss it in the trunk of my Civic in the morning--well, it hangs out of the trunk. After I drop the kids at school I ride it home. In the afternoon I ride back, toss it in the car, pickup the kids and drive home. I substitute 3000 miles of car driving a year with e-bike riding. 2000 mpg-equivalent (1gallon petroleum yields 37kWh). Less road needed. Saves time/money I'd spend in the gym. Glorious. Consider a similar technique: Ride to the urban edge, hope on your bike or e-bike with a BOB trailer or good racks and baskets or pannier to do your errands/appts. Return to car. Drive home.
Unfortunately, the Prius doesnt' allow me to carry the kids and an e-bike except using a clumsy roof or rear rack that doesn't have enough security or convenience in my case.
Sorry, got a bit far afield here. Do consider a Yaris or Fit instead of Prius if you do mostly hwy driving and want to save a bundle.
BTW the Premium on the Prius would be getting it fully loaded, that would take a while to pay off, but a base like I have, or a package 2, would quickly pay off compared to most other family sedans, especially Domestic ones. If getting a Highlander hybrid, now there you have a good argument on premium! The lowest I have seen them for is $42,000+, compared to a non hybrid of about $32,000. That is a huge premium that would take a very long time to pay off.
I have to admit, I was skeptical on how the Prius would handle snow and I am quite impressed. Yesterday I got the crown vic stuck in the drive, today my moms Grand Marquis got stuck in the drive, but the prius only got stuck because the snow was too deep. Shoveled out some snow from the front and off it went, today, it pulled right through without a hitch, the Vic is still stuck.
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"I personally would be very hesitant to purchase this car with the intention of holding on to it for a really long time"
Can you clarify this point? Are you saying that a Prius may have expensive repairs in the future?
thks
What are your thoughts?
It takes some work to determine if you got a good offer. It would be better if everyone also posted the dollars over invoice. That way it would be a lot easier to scan to see what range the current going prices are running. So, for your #6, Edmunds lists:
MSRP: $27,535 (includes $660 delivery)
Invoice: $25,313 (")
Your offer: $26,150 + $95 + TTL = $26,245 + TTL
Offer minus invoice: $932 over invoice + TTL
It sure would make things simpler if people posted the "offer - invoice" ($932) figure.
You didn't mention a trade-in. That often can distort the listed offer because everyone thinks their car is worth more than the wholesale value.
But back to your question. Seems like there are better prices in California. For the rest of the country, it seems like a decent deal. Most dealers in my area have 1 or 2 or none, so I assume they are probably getting close to, or over, list MSRP for the this popular model.
When comparing the Fit and Yaris to the Prius you seem to be using 2007 EPA figures. Using the more realistic 2008 figures (and an average of 55% city, 45% highway, 15,000 miles per year, and regular gas @ $3.10 per gallon)
Honda Fit (automatic) - 27 C / 34 H = 30.1mpg @ $1545 annually
Honda Fit Sport (auto) - 27 C / 33 H=29.7 mpg @ $1566 annually
Toyota Yaris (auto.) - 29 C / 35 H = 31.7 mpg @ $1467 annually
BTW: The manual transmission models are only 1 mpg better on the highway and same in the city.
Toyota Prius - 48 city / 45 highway = 46.7 mpg @ $996 annually
This is 21 city / 11 highway better than the Fit and 19 city / 10 highway better than the Yaris and an average gas savings of $510 a year.
These numbers are from http://www.fueleconomy.gov.
Now, if gas goes to $4 a gallon, and you drive 18,000 miles per year, you're saving $790 a year comparing to those already gas efficient models. If you go here you'll see that a fairly loaded Yaris is, on a feature for feature value vs. the Prius is only $4000 cheaper than a Prius Standard with Package 3. And a base Fit is also around $4000 cheaper than a Prius on a feature for feature comparison.
At $4 a gallon and 18,000 miles per year, you'll recoup your investment in five years. After that, you'll be driving a MUCH nicer vehicle than a Yaris that will also have a higher resale value.
http://www.consumerreports.org/cro/cars/buyingleasing/most-fuelefficient-cars-20- 6/index.htm?resultPageIndex=1&resultIndex=1&searchTerm=most%20fuel%20efficient%2- 0cars
Transmissions can be geared for acceleration or for mpg. Manuals are usually geared for acceleration. Apples to apples manuals are more efficient.
Toyota could build a non-hybrid Prius that got better hwy mileage and cost $6,000 less. But they won't because it would be sluggish.
Prius gas engine is 70hp and its electric engine is about 40hp for a total of 110hp. Remember, though, all the energy is ultimately generated by the gas engine.
Bob
Well not entirely. The regenerative braking does help out somewhat but yes it takes excess energy and charges the battery with it. The braking is a big factor.
Actually the offer I agreed to is $837 over Invoice of $25,313 OTD.
My issue is their attempt to add on to the agreed to "OTD" Price.
If I were to purchase from a dealer 100 miles away, I could shave $100 to $200 off the price but I am willing to leave that on the table to purchase at a local dealer. It is just rubbing me wrong for them to agree to an OTD price then, "Oh by the way, here is another charge we're adding on".
Got quotes from various dealers through the Consumer's Checkbook, carbargains.com service for a fee of $192. The low and high quotes for the package were $1,200 apart.
Two other dealers were willing to match my best quote through Carbargains only if they had a package #2 on the lot and they had none.
Rob
I am looking to lease a Prius with package #6. I am in Bay Area. I am looking for basic information such as residual value, money factory, and PRICE. Any information or recomendations would be greatly appreciated.
Thanks in advance.
I picked base without navigation (1 or 5 carbargains choices for Prius). Carbagains guarantees at least 5 dealer quotes. I received 16 dealer quotes (These weren't all the Toyota dealers in my SF Bay area). The quotes are a specific "invoice minus" or "invoice plus" and good for any package associated with my choice, base and for 2 weeks.
Here's an Today show interview favorably comparing carbargains against other online buying services.
http://www.checkbook.org/auto/todayshow.cfm
Rob
This was a dealer on Stevens creek in SJ, CA. - Sales person was really nice and replyed pretty fast to my emails.
I got the following option:
- Extended warranty (7y/75k=1,400.00)
Had to wait for about a week for the car to get in, but they prep'd it and had it all ready to go when I went to pick it up.
Thanks for everyone help that gave feedback and pricing ( Buyer Power )
Dil
Thanks,
C
Let me ask the question another way.
What is it that makes a Prius not worthwhile holding for a really long time?
I'm looking to lease a 2008 Prius Pkg 2 in SoCal. They offered $356 (+tax)/month for 36 months. 12K a year mileage and $640 drive-off.
Is this fair? If not, how do I negotiate a better deal? I asked about a monthly payment of $336 (+tax) and sales person said -"not possible" I'm going in tomorrow as I've only dealt with this sales person via email/phone. I haven't told the salesperson i have a car I want to trade-in (worth about $500 trade-in). Do I try to use this as part of the drive-off or is there anyway I can use this to lower monthly payment. I'm not sure if this is a good deal or it just sounds good to me given I went to Miller Toyota in Culver City and they wanted $2000 down and $369/month for a 59 month lease (they were CRAZY)!
Thanks!
owen311 AT HOTMAIL
DOT COM
Dil
Hate spammers
I recently purchased a 2008 Prius Pkg 2 from RSM Toyota and am basically paying what you outlined, I don't remember the exact price of the car. It was the best deal that I could find at the time. They aren't any good lease deals out there for this car right now.
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About to buy a Prius.. I think. Got the Costco price, $300 over invoice, and 1 dealer quoted me for Invoice price w/option 4 package; 24,074. However I see in the printout there is a dealer holdback of $446 - many dealers told me this exact number, and there is a Whsl financial Reserve line, I don't know what this number is, it's listed at $223 - and no one dealer is talking about this. This is an 08.
Anyone know what this number refers to?
Thanks for all your notes, it's been helpful.
Scott
for 2008 touring package #6, I was really disappointed I've been looking for something 800 above invoice considering the car doesn't get the tax incentive at this point and the carpool stickers are unavailable now, so i dun feel like the car has enough value in it anymore. If anyone can shoot me over some info I'd appreciate it pr0ject004 [at] gmail
I went to one dealer today who agreed to everything i wanted then I got there and they did the bait and switch, they didn't have the car etc. I was kinda shocked they pulled that. I mean I thought worse comes to worse they woulda said they can't do that price but they tried the bait switch i was pissed off.
Scott
sc
Hope to pick up mine tomorrow - will get the light green color - all other cars are white (that I own). Nice to get come color now.. perhaps blue if they can't get green.
It's been fun reading about this car. Look forward to saving some money on gas!
Scott
The sales guys I worked with were very professional and not at all pushy. They seemed more focused on giving me great service than on making a big profit off of me. Even their finance department just presented me with extras, but did not try to force anything on me. The whole time I was preparing myself for a bad experience and it never happened. I would highly recommend this dealer to anyone in San Diego.
Good luck with your purchases. Here's something interesting to me.. in the several times I have pulled up to a stop light, and been sitting there - with the motor stopped - I am very aware of the other cars using gas, just sitting there waiting for the light to change. Strange to me, never given this much thought. I bought the car for gas mileage, period. The fact that it's a pretty nice vehicle is an added bonus. I don't mind the seats, and thus far find them comfortable - even with the lack of adjustments. My days of driving fast are all but gone.. and honestly, I can't wait to pull up to a gas station, after driving some 500 miles before I do, and just smiling as I put in only 10 gallons and drive off with a fairly nice car, for another 500 miles!
sc">
But something doesn't add up . . .
When I go to edmunds.com they list the invoice for an 08Prius#4 at $23,540 (includes destination charge of $660). NOT $24,074. REPEAT: NOT $24,074, BUT $23540--$534 less.
08Prius#5 is $24,170. Adding $800 for warranty makes $24,970. Adding the same TTL you report of $2091= $ 27,061. But you paid $27,240. By these calculations you paid $179 over invoice, not at least $350 less as you state.
Check my figures please. Whatever the case, if my figures jibe or not, I think we are well advised to research edmunds.com invoice price and go from there, not trusting the salespeoples' assertions that they are selling you a car "at invoice," or "below invoice."
Still $179 over invoice is the best I've heard and certainly better than the $600 over that I paid in late Oct. for my 08Touring#6 at $30,000.00 including a 100k platinum warranty (everything but wear items covered). I hope you enjoy the car as much as I enjoy mine (when I'm not riding my power-assisted e-bike as my first choice for transportation.)
I faxed my sales receipt to my sister in LA, and she went out today looking to buy. The first dealer told her 'no way', would not sell a Prius for that price. This made me feel good - I got a reasonable deal. The 2nd dealer she went to, told her $350 over my price, and she said 'no way' - and started to walk out. They stopped her and 1 hour later she drove out with the exact same car I got / color and all. They told her this was the best 'deal' they have given at that dealership. So, we are happy, but anything close to this will be good.. and if you get a better deal, good for you, feel even better about your purchase. We are now both trying to figure out how everything works!
Hang in there, get the best deal you can, and remember the above numbers as dealer profit. I only have 55 miles on my car, but I plan to drive more soon.
Good luck.
sc
The only remaining question what to pay for mats (or just ask for them for free). That, and the warranty. Yours was $800 for 7y/75k. Mine was roughly the same, about 11 cents/mile, $1150 for 6 years/100k miles. (I'll definitely use up the miles before the years).
The trick here is to throw the salesman off by giving them erroneous figures when they ask you how much you drive per year. If you say you drive a lot they'll offer you something like a 7y/75k warranty, so say you drive a modest amount. Then they'll offer you what they offered me 6y/100k. And vice versa.
Have fun shopping guys and gals!
sc
What has happened in this world that car salespeople are more cordial than flight attendants?
This disparity is not so apparent in purchase scenario since the residual value is the purchaser's problem and not part of the financing calculation. But the finance companies are well aware of this issue and cannot hide the low residual value in a lease quote.
That being said, it seems like it is nearly impossible to get an accurate MSRP or Invoice. The dealers are playing all sorts of games, at least here in the Los Angeles area, including adding additional options to the packages all in a successful attempt to confuse buyers. I have also learned from someone who works at Toyota (not as a salesperson) that some salespeople are pointing to documents and saying they are the "invoice" when in fact, they are not.
This is been a horrible buying experience so far and I'm guessing it will be a lot worse before I have the car sitting in my garage.
Does a residual of $15,332.00 make sense for 36 months/45,000 miles? Based on MSRP plus destination, that is 54%
Someone here must have access to this information.
I honestly can't believe some have a poor experience with Toyota (no, I don't work for Toyota and am not affiliated with them at all). Ok, sure, there will be dealers and SALES PEOPLE that are 'not professional', but I am pretty sure Toyota places high value on their people being professional and not pushy.. it's more of a consultive sell. All dealerships I went to before buying my Prius told me they wanted an 'excellent' rating when Toyota sends me the evaluation sheet on my buying experience. With this hanging over the dealers heads, and the sales peoples heads, I think they will all go out of their way to work with the buyers..
just my .02 cents.
Scott