Brutus3383 Newbie
Joined: Sep 18 2007
Online Status: Offline Posts: 9
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Location: U.S. - Colorado
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Posted: Feb 28 2010 at 4:42pm | IP Logged
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Pretty easy decision actually. If you like the Prius and money is no object, go for it. If you don't have a money tree, then weigh the cost difference. I doubt years of car payments will make up for the MPG savings for your average 22,000 miles/yr. My 2 cents: Calculate the monthly car payment and consider what would happen if you put that money in a bank money market account. (I know, nothing safe pays much right now.) Let's say the payment is $400/month (I really have no idea). After 3 yrs, would you rather have the 3-yr-old Prius (and maybe another year of payments) or roughly $15,000 cash in the bank? This obviously assumes the then 6-yr-old SE doesn't have any major issues (which is a good bet I dare say). No right answer here. Me? I pay myself until I can pay cash for a new car. Only had one car loan in my life. It was 20+ yrs ago when I was fresh out of college to help establish good credit. Since then, I'm my own banker! Good luck!
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