Aiming_4_55
Thinks s/he gets paid by the post
Ok, my daily driver/car is about 8 1/2 years old with about 138k miles. It gets about 20 - 21 mpg in bumper to bumper driving/traffic and 28 mpg on the freeway without traffic. It won't get much $2k - 3k as a trade-in so nothing really. It runs fine, but I'm thinking I should join the electric hybrid group before a major mechanical issue.
I'm thinking of a new 2015 Pruis Plug-in. It lists for 31k, but with discount and rebate, I'm seeing it for $27k plus tax, title, etc. In addition, Federal and CA State tax incentives are $2.5k and $1.5k respectively, so the base will be $23k, Southern CA resident.
The benefits:
- new car with better gas mileage (about 50 mpg)
- new car warranty and maintenance
- CA HOV green sticker to us as a single occupany until Jan 2019
The caution
- current daily driver/car is still good
- won't use the plug-in as work and apt charges about $1 an hour so gas is cheaper (benefit is in the HOV green sticker)
- Plug-in is more expensive that the regualr hybrid model, but HOV sticker is worth it (estimated 30 minutes a weekday saved)
- may only live in CA for a few more years.
- higher insurance as I only carry liability
Other - I'm considering a PenFed auto loan of 1% but have cash to pay in full. Financing rate is so low, I might want to use the cash on an investment property or stock market.
What else should I consider? Any feedback?
I'm thinking of a new 2015 Pruis Plug-in. It lists for 31k, but with discount and rebate, I'm seeing it for $27k plus tax, title, etc. In addition, Federal and CA State tax incentives are $2.5k and $1.5k respectively, so the base will be $23k, Southern CA resident.
The benefits:
- new car with better gas mileage (about 50 mpg)
- new car warranty and maintenance
- CA HOV green sticker to us as a single occupany until Jan 2019
The caution
- current daily driver/car is still good
- won't use the plug-in as work and apt charges about $1 an hour so gas is cheaper (benefit is in the HOV green sticker)
- Plug-in is more expensive that the regualr hybrid model, but HOV sticker is worth it (estimated 30 minutes a weekday saved)
- may only live in CA for a few more years.
- higher insurance as I only carry liability
Other - I'm considering a PenFed auto loan of 1% but have cash to pay in full. Financing rate is so low, I might want to use the cash on an investment property or stock market.
What else should I consider? Any feedback?
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