Quote:
Originally Posted by Porsche-O-Phile
Sorry Mike, I guess I assumed you were a normal person an not a millionaire. . .  Unfortunately most people aren't in your situation where they can afford to pay for new cars cash. Nice position to be in, but most people aren't that lucky. Anyway, given that's the case I guess you need to consider the value. I don't know what you paid for it but the question then becomes is the difference between the price paid and the payout you'll be given by the ins. co. worth the use you got out of it for the time you had it?
If so, I'd take the money and run - and go buy a cheapo beater until the economy calms down. Cash in one's pocket right now is a good thing and if someone was going to hand me a wad of it right now given how things are going downhill, I'd be a bit hard-pressed not to take it. Of course if you have another car to use, you could just stick the entire wad in your pocket and walk away. That's what I'd do anyway.
If not, or if you're hell-bent on keeping THAT particular car, you can try and bargain with them to get it fixed. You're in a nice position that your carrying costs on the car are very low (insurance, fuel, maintenance only - no payment). Basically the same scenario as having them total it out, pocketing some cash and getting a beater - only you don't get the cash and you do get a newer and arguably nicer car (depending on the quality of repairs).
Best of luck to you whatever you decide. |
FAR FAR FAR From millionaires....
At the time we had the money to pay cash but these days money is tighter. I would not however have a problem buying another one for my wife.
We paid ~$23k for that car when new, straight MSRP. It was worth every penny, more than just being good on gas it is just a good car for our family with the way it is configured and that price for that car is quite good. Again, like I said before though if they are going to charge more than MSRP on it - I'm out. We'll find something used or something.
The car's configuration is what does it for me, the hatchback with the ability to fold the seats down. It's got nearly the same cargo capacity as my Xterra had (which I traded it in on). It's just not as tall, in fact I would venture to say that I have been able to fit more in the Prius than the Xterra could. I also fly radio control airplanes and up until recently had been using the Prius as my transport. I recently bought a used Volvo wagon though and that is the new airplane transport.
I checked Autotrader for what 2005 Prius are going for and I see them upwards of $32K!!! That is with option #6 as they called it at the time which included navigation and such. It wasn't just one or two either - it was more than a few. We had the base model though, 40k on the odo and I just changed the oil on Sunday!