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The Great Hybrid Battery Debate - READ ONLY

669 messages,  Last post on Apr 06, 2009 at 3:32 PM

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Messages Page 68 of 68

#664 of 669 Re: Prius Battery creates dilemma [gagrice] by stevedebi

Apr 02, 2009 (2:01 pm)

Replying to: gagrice (Apr 02, 2009 6:58 am)
" pastor friend with the new 2009 Prius has a real problem. He was planning to take his new Prius to Hawaii where he will be ministering for at least two years maybe 4 years. Toyota leasing will not allow him to take it out of CA for more than 30 days. He can store it and take a chance the battery will be ruined in two years. Take it and not be able to register in HI, or just let it go back to Toyota leasing and mess up his credit. This would not be an issue with a non hybrid. It could be put in storage and not have a problem with not running for two years. Toyota leasing is not very receptive either. Something people should consider if you plan to lease. I always considered leasing a rip-off. Now I am sure of it. NO one wants to finance what is owed. He would have to come up with $8k to refinance. Any suggestions. I told him to leave the FOB on the seat in a bad part of town. I got a sermon for that idea.
  
PS
He loves the car and was looking forward to having it on Maui to save on gas. "
 
Have your friend check out buying out the lease. He may be able to arrange a decent price. Then he will own the car and can take it anywhere.
 
I would not advise storing any car for 2 years, during which time you are making lease payments!

#665 of 669 Re: Prius Battery creates dilemma [larsb] by gagrice

Apr 04, 2009 (8:08 pm)

Replying to: larsb (Apr 02, 2009 7:09 am)
Tell him to convince Toyota to let him take it to Hawaii.
 
He spent the day with Toyota finance and they would not budge an inch. No it would not make any difference if it was a Tundra or Prius. EXCEPT. You can leave a Tundra parked for 2 years without fear of the hybrid battery draining and being destroyed. While it would still be covered there would probably be a hassle and waiting for a replacement etc. They will not let you take the car out of CA for more than a month under their lease plan. He talked to the guy on Maui and got the same story. The problem is getting it licensed in Hawaii. We thought about buying it. I just don't want a red POC Prius for a $24k payoff on the lease. That is what I can buy a new one for. He got into the lease because he is a very poor preacher. Not one of the mega church guys that drive a Mercedes. He wanted the economy for all the running to visit the sick in the hospital.
 
My advice is be wary of Toyota finance. They seem to be crooks IMO.

#666 of 669 Re: Prius Battery creates dilemma [stevedebi] by gagrice

Apr 04, 2009 (8:23 pm)

Replying to: stevedebi (Apr 02, 2009 2:01 pm)
I would not advise storing any car for 2 years, during which time you are making lease payments!
 
I agree. Then I would never lease a vehicle. It is a giant rip-off unless you can write the whole thing off. This preacher hardly makes enough in a year to pay any taxes. He leased as it was $200 per month less and he was planning to finance the payoff after 5 years. Why he likes the rough riding noisy little beast is beyond me. But he likes it. I feel for him and would loan him the $24k except he cannot make that big of a payment if I did not charge him any interest for 5 years. No wonder I despise lending companies almost as much as our Congress and government.

#667 of 669 Re: Prius Battery creates dilemma [gagrice] by stevedebi

Apr 06, 2009 (8:21 am)

Replying to: gagrice (Apr 04, 2009 8:08 pm)
"The problem is getting it licensed in Hawaii. We thought about buying it. I just don't want a red POC Prius for a $24k payoff on the lease. That is what I can buy a new one for. "
 
The cost of the vehicle is a moot point: the lease is what is referred to as a "sunk cost", which has to be paid, and it would be much cheaper to simply pay the 24K and drive the vehicle, rather than
 
1. Risk having the battery go bad and have to replace or pay for it at the end of the lease. Yes, HE would have to pay because he did not treat the car appropriately, and cars need to be driven.
 
2. Paying lease payments on top of whatever transportation costs the minister has in HI.
 
Actually, the car payments may not be bad if he goes with a 60 month payout - possibly similar to the lease payments.

#668 of 669 Re: Prius Battery creates dilemma [stevedebi] by gagrice

Apr 06, 2009 (3:32 pm)

Replying to: stevedebi (Apr 06, 2009 8:21 am)
The payments on $24k are about $500 a month for 5 years. He has a 5 year lease at $299 a month. He was not sure his payoff at the end. Typical pastor. Very trusting of people and easily duped or talked into things. The best thing would be to get out of the lease if Toyota will not allow them to take the car with them. If he had any money he would not be in this mess.

Messages Page 68 of 68

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