Comments on: The Hows and Whys of Our Car Purchase: A 2009 Toyota Prius http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/ Simple, applicable personal finance advice for the modern world Fri, 10 Feb 2012 08:34:37 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: haverwench http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-942093 haverwench Thu, 17 Mar 2011 20:58:07 +0000 http://www.thesimpledollar.com/?p=3312#comment-942093 We had much the same experience when shopping this year for a car to replace our late, lamented '94 Accord. We originally planned to buy used, but after a little initial investigation, we found that new cars were roughly equivalent in value per year of useful life. We also discovered that buying new was practically the only way to get a stick shift, which we both wanted. (This was the main reason we did not seriously consider a Prius.) So we are now the proud owners of a 2011 Honda Fit, and we are as pleased as Punch with it. It's not *quite* up there with the Prius mileage-wise, but 39 mpg in mixed driving ain't bad. And you can haul *anything* in it. Seriously. We call it the "microvan." We had much the same experience when shopping this year for a car to replace our late, lamented ’94 Accord. We originally planned to buy used, but after a little initial investigation, we found that new cars were roughly equivalent in value per year of useful life. We also discovered that buying new was practically the only way to get a stick shift, which we both wanted. (This was the main reason we did not seriously consider a Prius.) So we are now the proud owners of a 2011 Honda Fit, and we are as pleased as Punch with it. It’s not *quite* up there with the Prius mileage-wise, but 39 mpg in mixed driving ain’t bad. And you can haul *anything* in it. Seriously. We call it the “microvan.”

]]> By: ranch111 http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-924360 ranch111 Tue, 14 Sep 2010 01:30:06 +0000 http://www.thesimpledollar.com/?p=3312#comment-924360 I would have bought a used Honda civic, gasoline engine. Half the price or even more depending on what year you buy...People are paying too much of a premium on the Prius to justify it as a prudent buy. My current vehicle is a 1992 4Runner. 15 miles to the gallon in the city. 260k miles. I've owned it for almost 10 years and will drive it until it the wheels fall off. I do not consider gas prices or MPG when purchasing a vehicle. Car payments are not an attribute of frugality. I would have bought a used Honda civic, gasoline engine. Half the price or even more depending on what year you buy…People are paying too much of a premium on the Prius to justify it as a prudent buy. My current vehicle is a 1992 4Runner. 15 miles to the gallon in the city. 260k miles. I’ve owned it for almost 10 years and will drive it until it the wheels fall off. I do not consider gas prices or MPG when purchasing a vehicle. Car payments are not an attribute of frugality.

]]> By: J. http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-917730 J. Mon, 12 Jul 2010 03:29:49 +0000 http://www.thesimpledollar.com/?p=3312#comment-917730 If you have the cash, are diligent about maintenance and drive your cars until they drop, a new car is the way to go. I would say even with a small car loan, new is a good choice if you fit the other two criteria because how you maintain and drive a car makes a HUGE difference in how long it will last and on your repair bills. By being the only owner, you have the opportunity to optimally maintain, repair and drive the car from the day you own it. You will know almost every single thing that has ever been done to it. Unless you know the seller, there is no way to know for sure how a used car has been treated. For example, a car driven 30,000 miles of short trips in stop and go traffic will not be in as good as shape as a car driven 30,000 miles mostly consisting of long freeway drives. My 2003 Elantra wasn't glamorous even when she was new, but I treat her like a queen and she's mostly returned the favor :) I expect this to continue for at least another 7 years. If you have the cash, are diligent about maintenance and drive your cars until they drop, a new car is the way to go. I would say even with a small car loan, new is a good choice if you fit the other two criteria because how you maintain and drive a car makes a HUGE difference in how long it will last and on your repair bills.

By being the only owner, you have the opportunity to optimally maintain, repair and drive the car from the day you own it. You will know almost every single thing that has ever been done to it.
Unless you know the seller, there is no way to know for sure how a used car has been treated. For example, a car driven 30,000 miles of short trips in stop and go traffic will not be in as good as shape as a car driven 30,000 miles mostly consisting of long freeway drives.

My 2003 Elantra wasn’t glamorous even when she was new, but I treat her like a queen and she’s mostly returned the favor :) I expect this to continue for at least another 7 years.

]]> By: Teri Davis Newman http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-835398 Teri Davis Newman Sun, 27 Dec 2009 17:33:01 +0000 http://www.thesimpledollar.com/?p=3312#comment-835398 Trent, Something you mentioned about leather seats caught my attention and I wanted to share it. Leather seats ARE ALWAYS WORTH THE EXTRA COST. I owned a limo service for many years and all of our Town Cars (wouldn't buy anything else!!) had leather seats which I discovered was incredibly durable. I had cars with 300-400K miles on them and the seats were still in great shape--no holes or tears--not even in the driver's seat!! I have leather seats in an 04 Amanti that has 70K miles on it and they look new and the leather in my 08 Solstice with 45K miles also looks new. I've never had cloth or vinyl seats that didn't wear out and tear in 50-60K miles. I've got a Town Car limo and a Town Car sedan that both have over 225K miles with perfect interiors. Leather cleans up beautifully (something to consider with kids) and is so durable that it's well worth the extra money! Trent,
Something you mentioned about leather seats caught my attention and I wanted to share it. Leather seats ARE ALWAYS WORTH THE EXTRA COST. I owned a limo service for many years and all of our Town Cars (wouldn’t buy anything else!!) had leather seats which I discovered was incredibly durable. I had cars with 300-400K miles on them and the seats were still in great shape–no holes or tears–not even in the driver’s seat!! I have leather seats in an 04 Amanti that has 70K miles on it and they look new and the leather in my 08 Solstice with 45K miles also looks new. I’ve never had cloth or vinyl seats that didn’t wear out and tear in 50-60K miles. I’ve got a Town Car limo and a Town Car sedan that both have over 225K miles with perfect interiors. Leather cleans up beautifully (something to consider with kids) and is so durable that it’s well worth the extra money!

]]> By: Dan http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-735999 Dan Fri, 24 Jul 2009 13:27:23 +0000 http://www.thesimpledollar.com/?p=3312#comment-735999 The Prius is the best bang for your buck car out there. Consumer Reports absolutely loves it. The Fit is great too, but Prius tips it because of the gas mileage and a lot more space (especially important if you have kids). Don't worry about the batteries. Those fears are all a myth spread by hybrid haters. There's no record of the batteries having problems and they are guaranteed 8 years or 100,000. The Prius has incredibly low maintenance costs. I totally agree with Trent's decision on the financing. At such a low rate, he's essentially paying $100/year for a much healthier emergency fund. Good call. Totally disagree that waiting for the 2010 would have been a better option. This summer they were selling 2009 Prius for under 23K with 0% financing. No way Trent could have seem that though. All in all great decision by him. The Prius is the best bang for your buck car out there. Consumer Reports absolutely loves it. The Fit is great too, but Prius tips it because of the gas mileage and a lot more space (especially important if you have kids). Don’t worry about the batteries. Those fears are all a myth spread by hybrid haters. There’s no record of the batteries having problems and they are guaranteed 8 years or 100,000. The Prius has incredibly low maintenance costs. I totally agree with Trent’s decision on the financing. At such a low rate, he’s essentially paying $100/year for a much healthier emergency fund. Good call. Totally disagree that waiting for the 2010 would have been a better option. This summer they were selling 2009 Prius for under 23K with 0% financing. No way Trent could have seem that though. All in all great decision by him.

]]> By: Rinna http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-701512 Rinna Thu, 18 Jun 2009 20:58:22 +0000 http://www.thesimpledollar.com/?p=3312#comment-701512 This is one of the first articles on this blog that i have read, but i have to say that i really disagree with your purchase of a Prius. My husband and i bought a car last year and settled on a new Honda Fit. Not only does it cost much less than the Prius, it also gets great gas milage and is remarkably roomy. There is even a video that I think you can find on uTube that compares the Prius vs. the Fit cost-wise and comes to the conclusion that taking into consideration the higher initial price of the Prius and the higher maintenence costs (those batteries are expensive, not to mention made out of lithium which is horrible for the environment when being mined and disposed of) that the higher gas mileage of the Prius doesn't really make up in gas savings, and in the long run the Fit comes out as the cheaper car to own. I'm not bashing your choice of car - Prius is a nice car and might be better suited to you for some reasons. I just want people to know that there are other options. Also I love my Fit and everytime I see someone else in one I smile a little. This is one of the first articles on this blog that i have read, but i have to say that i really disagree with your purchase of a Prius. My husband and i bought a car last year and settled on a new Honda Fit. Not only does it cost much less than the Prius, it also gets great gas milage and is remarkably roomy. There is even a video that I think you can find on uTube that compares the Prius vs. the Fit cost-wise and comes to the conclusion that taking into consideration the higher initial price of the Prius and the higher maintenence costs (those batteries are expensive, not to mention made out of lithium which is horrible for the environment when being mined and disposed of) that the higher gas mileage of the Prius doesn’t really make up in gas savings, and in the long run the Fit comes out as the cheaper car to own.
I’m not bashing your choice of car – Prius is a nice car and might be better suited to you for some reasons. I just want people to know that there are other options. Also I love my Fit and everytime I see someone else in one I smile a little.

]]> By: Michael G.R. http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-672738 Michael G.R. Mon, 25 May 2009 05:09:04 +0000 http://www.thesimpledollar.com/?p=3312#comment-672738 Congrats on the Prius, good choice. Might have been better to wait for the new Prius to come out (2010 model), but aside from that you did well. Congrats on the Prius, good choice. Might have been better to wait for the new Prius to come out (2010 model), but aside from that you did well.

]]> By: Ouida Vincent http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-670823 Ouida Vincent Sat, 23 May 2009 09:37:53 +0000 http://www.thesimpledollar.com/?p=3312#comment-670823 I bought a 2006 Prius new. Basic package. The car it replaced was a Toyota 4 Runner 10 years old and $250,000 miles. At the time I made the purchase, Emigrant direct was paying 5% on savings accounts, my interest rate through the credit union was 5.85% therefore I chose to keep the cash cushion and make payments. 18 months after I bought the Prius, gas prices shot up to over 4 dollars per gallon. I live in truck country and I cannot tell you the number of people who stopped to ask me what my mileage was. There is a 10% difference between winter and summer gas mileage with the Prius. In the Summer I get over 46 mpg in the winter it is 42-43 mpg. Other than and air filter changes it has not required any significant maintenance. Total mileage? $80,000. One final word about Toyota, my Toyota dealer is also a GM dealer. Toyota issued a service advisory to replace the engine gaskets at Toyota cost in about year 6. I walked into the dealers garage to check on my vehicle as the engine had to be disassembled. I love to see how things work and seeing my engine in pieces was something I just could not pass up. The mechanic said something I will never forget: "look around, you see GM cars and trucks, yours is the only Toyota here and there is really nothing wrong with it." I bought a 2006 Prius new. Basic package. The car it replaced was a Toyota 4 Runner 10 years old and $250,000 miles. At the time I made the purchase, Emigrant direct was paying 5% on savings accounts, my interest rate through the credit union was 5.85% therefore I chose to keep the cash cushion and make payments. 18 months after I bought the Prius, gas prices shot up to over 4 dollars per gallon. I live in truck country and I cannot tell you the number of people who stopped to ask me what my mileage was. There is a 10% difference between winter and summer gas mileage with the Prius. In the Summer I get over 46 mpg in the winter it is 42-43 mpg. Other than and air filter changes it has not required any significant maintenance. Total mileage? $80,000. One final word about Toyota, my Toyota dealer is also a GM dealer. Toyota issued a service advisory to replace the engine gaskets at Toyota cost in about year 6. I walked into the dealers garage to check on my vehicle as the engine had to be disassembled. I love to see how things work and seeing my engine in pieces was something I just could not pass up. The mechanic said something I will never forget: “look around, you see GM cars and trucks, yours is the only Toyota here and there is really nothing wrong with it.”

]]> By: Rob http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-661112 Rob Wed, 13 May 2009 12:37:41 +0000 http://www.thesimpledollar.com/?p=3312#comment-661112 If you really want to purchase a new car and get the most "bang for your buck," consider doing it like Frank did. http://milkyourmoney.com/2009/05/12/why-i-purchased-a-used-vehicle-and-you-should-too/ If you really want to purchase a new car and get the most “bang for your buck,” consider doing it like Frank did. http://milkyourmoney.com/2009/05/12/why-i-purchased-a-used-vehicle-and-you-should-too/

]]> By: Andrea http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-653333 Andrea Wed, 06 May 2009 01:49:02 +0000 http://www.thesimpledollar.com/?p=3312#comment-653333 People just have different points at which they trade in cars. My sister and BiL trade in like clockwork every 2-3 years, whereas I am driving my 2000 Subaru that has only 161,000 miles on it. Unless something goes horribly wrong or it really gets unreiiable (I teach night classes and am often in lonely parking lots rather late at night), I thoroughly expect to drive it to 250K or more. People just have different points at which they trade in cars. My sister and BiL trade in like clockwork every 2-3 years, whereas I am driving my 2000 Subaru that has only 161,000 miles on it. Unless something goes horribly wrong or it really gets unreiiable (I teach night classes and am often in lonely parking lots rather late at night), I thoroughly expect to drive it to 250K or more.

]]> By: mapgirl http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-603856 mapgirl Wed, 01 Apr 2009 01:53:19 +0000 http://www.thesimpledollar.com/?p=3312#comment-603856 Trent, I don't care if you financed the car or not. I'm concerned that you didn't look at the broader car market. If you were going to get a new Prius, why didn't you wait a year for the 2010 model which gets much better mileage? I don't think from what you've described that your car was in imminent peril. You could have bought a beater for a few thousand dollars to tide you over till September when the new models are available. The 2010 is considered a category killer and a huge improvement over the 2009. I think you've just shot yourself in the foot over resale values. Trent,

I don’t care if you financed the car or not. I’m concerned that you didn’t look at the broader car market.

If you were going to get a new Prius, why didn’t you wait a year for the 2010 model which gets much better mileage? I don’t think from what you’ve described that your car was in imminent peril. You could have bought a beater for a few thousand dollars to tide you over till September when the new models are available. The 2010 is considered a category killer and a huge improvement over the 2009. I think you’ve just shot yourself in the foot over resale values.

]]> By: Mark http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-601306 Mark Mon, 30 Mar 2009 13:26:22 +0000 http://www.thesimpledollar.com/?p=3312#comment-601306 Hi Trent, The great part about your blog is that it gets people thinking... The not so nice part is that everyone seems to take everything you write as face value... People need to take a breather when it comes to pointing the finger; if you feel that Trent didn't do "what he usually preaches" then hey, don't read his blogs!! I believe every situation brings upon itself its own particular solutions no matter how you look at it - I understand that Trents decision may sound less "frugal" than what he usually does but hey, I believe he's not only earned a right to change his type of decisions - i.e. "spend" less frugally - but also to not receive rants from peoples who seem to convey a "greater than thou" attitude!! I would like to see the financial situations of all the peoples who placed a derogatory remark about his decision - I'm sure many are not in a financial situation to point a finger... I believe that Trent has earned the right to change his way of spending his money AND how he saves it... Trent, continue giving us some great reads; I for one and in this case, take them as food for thought for my future car purchase decision. More importantly, thanks for showing to me that however and whatever financial decisions we have taken in the past can & should be changed with an updated financial decision... i.e.: you need to save & pay off your debts when you've got them but this attitude changes when all of them have been paid & you've got money saved up!! Hi Trent,

The great part about your blog is that it gets people thinking… The not so nice part is that everyone seems to take everything you write as face value…

People need to take a breather when it comes to pointing the finger; if you feel that Trent didn’t do “what he usually preaches” then hey, don’t read his blogs!!

I believe every situation brings upon itself its own particular solutions no matter how you look at it – I understand that Trents decision may sound less “frugal” than what he usually does but hey, I believe he’s not only earned a right to change his type of decisions – i.e. “spend” less frugally – but also to not receive rants from peoples who seem to convey a “greater than thou” attitude!!

I would like to see the financial situations of all the peoples who placed a derogatory remark about his decision – I’m sure many are not in a financial situation to point a finger…

I believe that Trent has earned the right to change his way of spending his money AND how he saves it…

Trent, continue giving us some great reads; I for one and in this case, take them as food for thought for my future car purchase decision.

More importantly, thanks for showing to me that however and whatever financial decisions we have taken in the past can & should be changed with an updated financial decision… i.e.: you need to save & pay off your debts when you’ve got them but this attitude changes when all of them have been paid & you’ve got money saved up!!

]]> By: Shey http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-596697 Shey Fri, 27 Mar 2009 21:30:27 +0000 http://www.thesimpledollar.com/?p=3312#comment-596697 I think the problem here is not that Trent bought the car; it's that he (a popular finance blogger many of whose readers are personal-finance beginners) is making a questionable argument that buying the car was a good decision from a financial standpoint. It's one thing to say, as J.D. has with respect to the Mini Cooper, that a purchase might be extravagant and unnecessary but he wants it so he's going to go for it. In fact, I think that's the kind of balance that is necessary in personal finance: We save on some things so we can splurge on others that are more important to us. Fine. But then own it. Justifying an unnecessary purchase as somehow being a good investment does a disservice to readers who might mistake it for actual financial advice. I think the problem here is not that Trent bought the car; it’s that he (a popular finance blogger many of whose readers are personal-finance beginners) is making a questionable argument that buying the car was a good decision from a financial standpoint. It’s one thing to say, as J.D. has with respect to the Mini Cooper, that a purchase might be extravagant and unnecessary but he wants it so he’s going to go for it. In fact, I think that’s the kind of balance that is necessary in personal finance: We save on some things so we can splurge on others that are more important to us. Fine. But then own it. Justifying an unnecessary purchase as somehow being a good investment does a disservice to readers who might mistake it for actual financial advice.

]]> By: David http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-596687 David Fri, 27 Mar 2009 21:11:02 +0000 http://www.thesimpledollar.com/?p=3312#comment-596687 Great choice. Low emissions, great gas mileage, plenty of room (I fit in them too) and the durability of the Toyota brand. The first Prii are over 10 years old and going strong - you won't have to worry about it dying on you. And besides, batteries are only $1000. Who cares how you paid for it? Enjoy it; you work for your money like everyone else. I guess I don't understand all these comments hating you for buying a fuel efficient, popular, well-made car, and financing it as 90% of customers do. Glad to hear your purchase is working out for you! Great choice. Low emissions, great gas mileage, plenty of room (I fit in them too) and the durability of the Toyota brand. The first Prii are over 10 years old and going strong – you won’t have to worry about it dying on you. And besides, batteries are only $1000.

Who cares how you paid for it? Enjoy it; you work for your money like everyone else. I guess I don’t understand all these comments hating you for buying a fuel efficient, popular, well-made car, and financing it as 90% of customers do.

Glad to hear your purchase is working out for you!

]]> By: Meghan http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-596345 Meghan Fri, 27 Mar 2009 16:49:47 +0000 http://www.thesimpledollar.com/?p=3312#comment-596345 The finances of your post make sense, but not the car you chose. The batteries of the Prius will lose much of the efficiency during the winter, not saying they won't work below freezing but they won't work well. Also how much does it cost to replace the batteries? I can't remember the figure but a friend decided against a hybrid for this reason. You may save 9K in fuel, but if you have to replace the batteries twice you'll end up spending more. The finances of your post make sense, but not the car you chose. The batteries of the Prius will lose much of the efficiency during the winter, not saying they won’t work below freezing but they won’t work well. Also how much does it cost to replace the batteries? I can’t remember the figure but a friend decided against a hybrid for this reason. You may save 9K in fuel, but if you have to replace the batteries twice you’ll end up spending more.

]]> By: Eli http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-596319 Eli Fri, 27 Mar 2009 16:20:35 +0000 http://www.thesimpledollar.com/?p=3312#comment-596319 Trent, Ignore the haters. You did what you thought was the best thing for your family. A new, efficient, reliable car has tons of intangible benefits that don't show up on balance sheets. Everything from a feeling of eco responsibility to lessened tension and anxiety while commuting. After three solid years of improving my bottom line while letting the rest of my life suffer I have come to the realization that Dave Ramsey like intensity leads to wasting the better years of your life with very little enjoyment. So after putting up with my 1996 civic for 14 years and 212000 miles I went out the other day and gave the recession the finger and bought a new sports car! It didn't hurt that the new car was a 2007 left over with a full warranty that was discounted more than 10,000 off of msrp (a 36.2% discount). So basically I got a brand new car that the dealership had already taken the depreciation hit on. I bought it for less than what the used ones were going for so even with the loan it's still a net gain in my net worth. I plan to pay it off in 18 months or so so I will be cheating the bank out of most of their anticipated interest anyways. Anyways now I smile all the way to work. Frugality is great but if debt freedom starts to feel like the misery of slavery feel free to loosen the purse strings a little and enjoy your life. After all you could get run over by a bus the day after you pay off your last debt... I still don't know how you fit in a prius though. I am only six feet tall and I find them short on headroom. Trent,
Ignore the haters. You did what you thought was the best thing for your family. A new, efficient, reliable car has tons of intangible benefits that don’t show up on balance sheets. Everything from a feeling of eco responsibility to lessened tension and anxiety while commuting.

After three solid years of improving my bottom line while letting the rest of my life suffer I have come to the realization that Dave Ramsey like intensity leads to wasting the better years of your life with very little enjoyment.

So after putting up with my 1996 civic for 14 years and 212000 miles I went out the other day and gave the recession the finger and bought a new sports car!

It didn’t hurt that the new car was a 2007 left over with a full warranty that was discounted more than 10,000 off of msrp (a 36.2% discount). So basically I got a brand new car that the dealership had already taken the depreciation hit on. I bought it for less than what the used ones were going for so even with the loan it’s still a net gain in my net worth. I plan to pay it off in 18 months or so so I will be cheating the bank out of most of their anticipated interest anyways.

Anyways now I smile all the way to work. Frugality is great but if debt freedom starts to feel like the misery of slavery feel free to loosen the purse strings a little and enjoy your life. After all you could get run over by a bus the day after you pay off your last debt…

I still don’t know how you fit in a prius though. I am only six feet tall and I find them short on headroom.

]]> By: Virgil http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-594538 Virgil Thu, 26 Mar 2009 17:31:53 +0000 http://www.thesimpledollar.com/?p=3312#comment-594538 Reading Mary's comment I can safely say this person will be a slave to the bank as long as she lives. To me, driving a slightly used car is preferable to not choosing to share certain life experiences, like buying ice cream, with my children. I just don't buy the justification of NEEDING a new car. As someone mentioned earlier, take a trip to another country. I can promise you that there are cars from the 80s and early 90s still running quite well in Mexico. You can make just about anything last forever if you choose to. Reading Mary’s comment I can safely say this person will be a slave to the bank as long as she lives.

To me, driving a slightly used car is preferable to not choosing to share certain life experiences, like buying ice cream, with my children.

I just don’t buy the justification of NEEDING a new car. As someone mentioned earlier, take a trip to another country. I can promise you that there are cars from the 80s and early 90s still running quite well in Mexico. You can make just about anything last forever if you choose to.

]]> By: CPA Kevin http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-594451 CPA Kevin Thu, 26 Mar 2009 15:53:35 +0000 http://www.thesimpledollar.com/?p=3312#comment-594451 I do find it curious that you spent so much on a new car when your next one will need to be replaced so soon. Honestly, when I first read this post I thought you had replaced your F-150 with a Prius since you never mentioned the other car being that old...at least that I remember reading. I wonder how going from no car payments to 2 so quickly will affect your finances? I've had a 98 Jeep Cherokee since 2002 - paid $11,000 (probably closer to $13k with interest) for it and paid off my 60 month loan 14 months early. It has almost 150k miles now and hasn't skipped a beat. A set of new tires here, a new battery there and it's good to go. I plan to drive it until it dies - which I hope is 250k miles or another 6-8 years or more. I'm curious what happened to your 1999 Sable that caused it to degrade so fast. Maybe that speaks to the quality of Ford cars built around that time. Especially considering your F-150 is not that much older. I do find it curious that you spent so much on a new car when your next one will need to be replaced so soon. Honestly, when I first read this post I thought you had replaced your F-150 with a Prius since you never mentioned the other car being that old…at least that I remember reading. I wonder how going from no car payments to 2 so quickly will affect your finances?

I’ve had a 98 Jeep Cherokee since 2002 – paid $11,000 (probably closer to $13k with interest) for it and paid off my 60 month loan 14 months early. It has almost 150k miles now and hasn’t skipped a beat. A set of new tires here, a new battery there and it’s good to go. I plan to drive it until it dies – which I hope is 250k miles or another 6-8 years or more.

I’m curious what happened to your 1999 Sable that caused it to degrade so fast. Maybe that speaks to the quality of Ford cars built around that time. Especially considering your F-150 is not that much older.

]]> By: Sandy http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-594380 Sandy Thu, 26 Mar 2009 14:32:09 +0000 http://www.thesimpledollar.com/?p=3312#comment-594380 I guess you've decided to only have the 2 children, then? If you have the 3rd, I guess the next vehicle will be a minivan? I guess you’ve decided to only have the 2 children, then? If you have the 3rd, I guess the next vehicle will be a minivan?

]]> By: CPA Kevin http://www.thesimpledollar.com/2009/03/21/the-hows-and-whys-of-our-car-purchase-a-2009-toyota-prius/comment-page-4/#comment-594247 CPA Kevin Thu, 26 Mar 2009 13:22:12 +0000 http://www.thesimpledollar.com/?p=3312#comment-594247 Unless you live in a no income tax state like TX, WA, FL, etc. the sales tax deduction is a moot point as your state income taxes will almost always be higher. It sounds like you got a good financing deal @ 4% - I probably would have taken it as well rather than fork out all that money at once and lose a ton of liquidity. For all those complaining about Trent's decision - he obviously did a ton of research. When the facts change, sometimes your mindset changes. I think there was a great quote about that somewhere... Unless you live in a no income tax state like TX, WA, FL, etc. the sales tax deduction is a moot point as your state income taxes will almost always be higher.

It sounds like you got a good financing deal @ 4% – I probably would have taken it as well rather than fork out all that money at once and lose a ton of liquidity.

For all those complaining about Trent’s decision – he obviously did a ton of research. When the facts change, sometimes your mindset changes. I think there was a great quote about that somewhere…

]]>