Considering Model 3 or Prius prime limited

[drtimhill]

Thanks everyone, my other half is also a CPA .
I am trying to upgrade to 2020 because a) I want apple carplay, we don't use the maps on Prius and use Waze. 2) I have 44k miles on my car, I am getting 21k in trade in to new prius prime limited (30k), the difference is 9k, but then I will get back 4.5k in tax credit and $500 from state, so in turn I will only spend 4k-5k (If I include tax and doc fee etc) to get the newer model.

Now if I get Model 3, then my out of pocket will be
43k for SR+ - 23k(selling to private party as tesla is only offering 18.5k)=20k+tax=21.2-3.2k(state and federal incentives)=18k so it is about 13k more than what I was planning. So if I assume that I will spend $600/year for gas for next 5 years and for electricity is free as I may have surplus solar (extreme scenario), then also I am paying 10k more.

Now if after 5 years with 75k miles I am able to sell Model 3 say for 20k, and Prius Prime for 15k, then buying Prius will be good, but if my Model 3 is going to hold the value upto 30k, then probably a better buy.

How much $ value to you put on the silly grin on your face(s) when you are enjoying the model 3?

 

[dandrewk]

How much $ value to you put on the silly grin on your face(s) when you are enjoying the model 3?

This can't be stressed enough. I've seen many posts from Model 3 owners where they make up reasons to drive it. "Dad, can you drive me to the mall?" are now words they long to hear! Even those who got the car 18 months ago still experience the same joy as the day they first drove it.

It reminds me of the last time we went house hunting. We were looking at some homes with a view. Some would be better than others. But views come with a cost, sometimes outstripping the intrinsic value of the home by a wide margin. Our real estate agent said "seeing this every day will extend your life". I agree.

You can save a lot of money going with the Prius. But I do think you will be missing out on something that can't be measured with dollars and cents.

 

[jindala]

Thanks for all the replies, this I already know that I will love driving Tesla. Actually I bought Q7 Prestige (my first premium car) in 2017 for 75k, because I wanted 7 seats and the tech, after 2 years 22k miles I am not even getting 50k back. I love Q7, but did not know that the price will drop that much. That is why the pricing is coming into picture..Also the resale value. If money is not the concern, then I would need at least LR model 3, because I can't change the range after. I could add FSD later...

So the idea was to have one luxury vehicle and one fuel efficient..

 

[mreynolds767]

Going for a tech forward car like a Telsa or Prius Prime is always a gamble when it comes to resale.

I think the Model 3 will hold it's value quite well, demand will be high for them from those looking on the used market. It is the hot new car to own right now, a good population will not buy new even though they can afford to though so in a couple of years I think it will be the in demand used car to own for them.

...
But if new superior battery technology comes along in 24 months then the Model 3 resale values could tank hence the gamble.

I also do not like the look of Prius and know I would not want to drive one except for the fuel economy where Telsa provides the same benefits with a sharp/luxury look and great driving.

 

[Amyshubby]

But for a $33k car from early 2017, it only sold for $19k

But you need to factor in the rebates. I owned a 2016 Prime Advanced that was also stickered at 33k. After the federal rebate, NY point of purchase incentive, Toyota discounts I paid about 24k. I was thrilled to get 19k from Tesla after two years and 50k miles!

Answering the OP question- I traded in my Prime and thought I would miss the HUD, heated steering wheel, blind spot warning, and cross traffic alerts. Two months later I still smile every time I get into my car. Best purchase I ever made.

 

[brianman]

2017 prime limited … 2020 limited

What wants a car that is so upfront about itself that it has "limited" right in the name?

"Exclusive" I get, but "limited" just make me think of "Nova" -- i.e. name fail.

 

[huangm777]

But you need to factor in the rebates. I owned a 2016 Prime Advanced that was also stickered at 33k. After the federal rebate, NY point of purchase incentive, Toyota discounts I paid about 24k. I was thrilled to get 19k from Tesla after two years and 50k miles!

Answering the OP question- I traded in my Prime and thought I would miss the HUD, heated steering wheel, blind spot warning, and cross traffic alerts. Two months later I still smile every time I get into my car. Best purchase I ever made.

That’s true, I forgot about the incentives. In CA it was $1500 for the state rebate, and $500 from the power company. Taking those into consideration the depreciation was not so bad then. The tech—which has most of the features of the standard Autopilot on Teslas—probably holds value well. Even the dealer I sold mine to was impressed about how loaded it was with features.

I do wish Teslas had a HUD, though I ended up turning mine off on the Prius because it felt redundant. I guess I’ll find out how much I actually miss when intake delivery...soon...

 

[dandrewk]

HUDs are cool and often useful. The Model 3 is all about simplicity and absence of clutter. It's one of their strongest selling points. So I doubt we'll ever see an HUD on a Tesla, especially since the Model Y also went with the clutter free look.

 

[boriszima]

There is no car play in Tesla either bud. If you want fuel efficient very boring reliable car - sure prime is cheaper. How long your planning to keep your new car? If you want a car that will put a smile on your face every day, get new features on regular basis and just the best BEV on the market, model 3 it is. Is it worth extra $15K? Only you know.

 

[dandrewk]

FWIW, most owners seem happy with Tesla's navigation. It's not Waze, but it's on par with Apple/Google maps. Planning long trips, it's very useful to have current Superchargers factored into the navigation. It's also handy to have current availability and charge wattage at the Superchargers along the route.

I have CarPlay on our Bolt. I will miss it, as it fits perfectly within the Apple ecosystem. But it's not a game changer, at least for us.

Thanks to the Model 3's web browser, you -can- use Waze. Likewise with Apple and Google maps. Along with Apple Music, Google Play, Tidal etc.

It's nice to have options.

 

[JimDog]

How is your significant other a CPA and you're spending money on 2017 Audi Q7 ($75k) then a Prius and now thinking of Tesla. If you're rich that's fine. But none of this makes financial sense. I put in an order for a Model 3, but that was after driving my 2005 Acura for 15 years... And believe me, I'm still debating if I should just be putting in a few $$$ in to the Acura instead of getting the Tesla.

Again, if you're well off, then never mind.

 

[arghx7]

How is your significant other a CPA and you're spending money on 2017 Audi Q7 ($75k) then a Prius and now thinking of Tesla. If you're rich that's fine. But none of this makes financial sense. I put in an order for a Model 3, but that was after driving my 2005 Acura for 15 years... And believe me, I'm still debating if I should just be putting in a few $$$ in to the Acura instead of getting the Tesla.

Again, if you're well off, then never mind.

Exactly. every time you get a new car you get killed on depreciation and taxes basically (I say that as someone who has been buying or leasing new cars regularly for the past 5 years, but I do have savings and income).