Hi all - Well, the 2001 I had my eye on got sold out from under me, since I couldn't go see it until this weekend (it was 275 miles from where I live). So I now am looking at a 2002 which seems to be well equipped. It does have cruise control and navigation, which the 2001 lacked. The dealership knows I am coming first thing Saturday to look at the car, so hopefully it won't disappear between now and then (this dealership is about 200 miles from where I live). Is there anything in particular that I should be aware of about the 2002s--such as any particular problems in that year model? The car is at a Toyota dealership, and they assure me it has had all necessary recalls done, and has been checked over and serviced by them. Linda
if all the recalls are done on it good, and any maintenance, like uh inverter coolant and hybrid transaxle coolant changed thats also good.
I would be very warry of the price. Prices for used cars are too high and interest rates are higher on used car loans. Here is a comparison based on some assumptions you may need to adjust to fit your own situation. Option One Buy used 2002 Prius with 75,000 miles for $15,000 (KBB.com Retail) Drive 15,000 miles per year for 3 years to 120,000 miles. Then buy 2005 Prius with 75,000 miles for $15,000 Drive 15,000 miles per year for 3 years to 120,000 miles. $5000 trade in on second $15,000 car. Total Cash Price = $25,000 First car 3 year loan for $15,000 at 7.27% interest rate. Monthly payment = $465. Second car 3 year loan for $10,000 at 7.27% interest rate. Monthly payment = $310. Total payments over six years = $27,900. End six years owning 9 year old car with 120,000 miles on it. Residual Value $5,000 Cash Cost of Ownership = $20,000 Finance Cost of Ownership = $22,900 Option Two Buy new 2008 Prius Pkg 2 with 0 miles. Drive 15,000 miles per year for 3 years to 90,000 miles. Cash Price $25,000 With 6 year loan at 7.14% interest rate. Monthly payment = $428 Total of payments = $30,816 End six years owning 6 year old car with 90,000 miles on it Residual Value $8,000 Cash Cost of Ownership = $17,000 Finance Cost of Ownership = $22,816 Option Three (If you were planning to pay $15,000 Cash) Buy new 2008 Prius Pkg 2 with 0 miles. Drive 15,000 miles per year for 3 years to 90,000 miles. Down payment = $10,000 With 6 year loan at 7.14% interest rate. Monthly payment = $257 Total of payments = $28,485 End six years owning 6 year old car with 90,000 miles on it. Residual Value $8,000 Finance Cost of Ownership = $20,485
