Last post on Apr 06, 2009 at 3:32 PM
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#667 of 669 Re: Prius Battery creates dilemma [gagrice]
Apr 06, 2009 (8:21 am)
"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]
Apr 06, 2009 (3:32 pm)
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.