A Used Toyota Prius?
Question:
Dear mom, this question comes from Andrea in Massachusetts:
"I currently have a '95 white Corolla with 180K miles with a bit of damage and rust. My parents are offering me their 2001 gold Prius (excellent condition, under 60K miles) for $10,000. I'm trying to decide if I should get the Prius on the grounds that it could save gas and the Earth, or wait until the Corolla gets really bad and get a newer non-hybrid car since I can't afford a new hybrid and the prospect of another used hybrid seems unlikely. So, my questions are: 1) should I wait, 2) is 10K a good price for that, 3) are there other used Priuses available locally, and 4) if my parents sell me a lemon, am I allowed to sue them? And lastly, who's your favorite child?"
Answer:
All of my research came from Kelly Blue Book which is the best way to find out the value of a car. Their website is at the bottom.
If I were you, I would get rid of the Toyota Corolla. With the amount of mileage that you have on the car, and the condition of the car, your car is worth $350.00. If it was in excellent condition, your car would sell for $575.00 but since it's not in good condition, I think you should donate it to an organization i.e. a trade school whose students can work on it or another organization who could use it. That could qualify as a tax deduction for you; read more about charitable contributions.
As far as your parents' car, you should definitely buy it. Since they are a private party, and the car is in excellent condition, they could sell it for $13,815.00. For good condition, $12,955.00. They are giving you a deal on it and you should take them up on it.
There are other Prius' for sale in your area. There is a gray one at the Acton Toyota which is selling for $15.875.00 and has 40,087 miles on it. There's a classified ad for a blue one for $14,995 with no miles stated in ad. There's a private party selling a silver one for $12,495.00 with 73,000 miles on it.
My suggestion to you is to donate your car, buy your parents' car and be thankful they offered it to you at a good price. You could sue someone for anything but I'm sure you're a nice person and would never sue your own parents.
As far as who my favorite child is, I can honestly say I don't have one. Al is my only son and his sister Stephanie is my only daughter and as far as I'm concerned they're both PRICELESS and no one could replace either one of them. They're not perfect but both wonderful. Of course, I'm not perfect either. Take care, Al's Mom.
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