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Prius operating costs vs. another midsize car

Discussion in 'Gen 3 Prius Main Forum' started by cycledrum, Jan 27, 2011.

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  1. cycledrum

    cycledrum PSOCSOASP

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    Since buying my 2011 Accord Coupe and experiencing the difference in fuel economy from my 2nd gen Prius, I decided to look at the bigger picture of operating costs for comparison - gas, insurance, registration and maintenance, and resale after 7 years, and found..

    at 6k miles driven per year, Coupe ~ 39 cents/mile, Prius ~ 30 cents/mi

    (Not sure of costs at 12k/yr as I don't have insurance rates for that).

    This is a surprising amount, but it goes down with higher miles driven. However, a resale loss after 7 years would be as much as operating costs. My car was $28.5k OTD. If I drove it 42k miles and sold at 7 years, $13k resale might be pretty close. That would make the purchase cost ...

    $15.5k loss / 42k miles = 37 cents / mile

    which means the total cost at 6k miles driven /year would be 76 cents/mile ! Can you imagine, every mile driven, ka-ching, 76 cents goes away, wow! A 20 miles round trip to the mall costs $15 !

    But, if you resold a Prius III in high demand times after 7 years, you might lose only

    (($24.2k purchase x 1.1 OTD) - $16K (high resale)) / 42k = 25.3 c/mi for total cost of ....

    Prius III = 55 cents / mile total w/ high resale @7yrs that's a 27% savings !

    So, it seems a moral to the story would be, if you don't drive very much, maybe buy a cheaper car. And if you do drive a lot, go ahead, buy a pricier car, but keep it for 100k miles or more :)

    ---------------------------------------

    Coupe w/ 6k per year insurance coverage, $3.40/gallon

    Gas: 26 MPG = $.13 / mile
    Insurance: $1,058/6k = $.176/mi
    Reg: $350/6k = $.06/mi
    Maint: $150/yr = $.025/mi

    = 39 cents / mile

    Prius III
    Gas = $.068
    Ins: $950/6k = $.158/mi
    Reg: $300/6k = $.05
    Maint: $150 / 6k = $.025

    = 30 cents / mile

    Note - registration costs go down, but low maintenance figures likely balance that out.
     
    #1 cycledrum, Jan 27, 2011
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  2. energyandair

    energyandair Active Member

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    Why do you show lower maintenance cost/mile for the Coupe than the Prius?
    Based on your input data it should be the same
    I would actually expect the Prius to cost somewhat less
     
    #2 energyandair, Jan 27, 2011
  3. cycledrum

    cycledrum PSOCSOASP

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    Good catch, that's a mistake. It would take more work to amortize the 7 year maintenance cost. Also, first 2 years of Prius maintenance is free!
     
    #3 cycledrum, Jan 27, 2011
  4. fuzzy1

    fuzzy1 Senior Member

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    My calculations are always based on the risk of having to scrap the car prematurely at 150k miles.
     
    #4 fuzzy1, Jan 27, 2011
  5. cycledrum

    cycledrum PSOCSOASP

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    That could be looked at too. Can really start saving if keep car 'til its old, then drop comp and collision coverage.
     
    #5 cycledrum, Jan 27, 2011
  6. usbseawolf2000

    usbseawolf2000 HSD PhD

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    I did my own calculation before too. Owning a midsize Prius cost less than a compact non-hybrid.
     
    #6 usbseawolf2000, Jan 27, 2011
  7. Tideland Prius

    Tideland Prius Moderator of the North
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    But why compare it to a compact and not a midsize? Granted, the difference would be larger since a midsize would more likely have a larger engine and larger fuel bill as well as potentially higher insurance costs.
     
    #7 Tideland Prius, Jan 28, 2011
  8. usbseawolf2000

    usbseawolf2000 HSD PhD

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    Just pointing out how low it is.

    You knew this is coming... here we go...

    Certain compact plugin hybrid cost more to operate than a midsize Prius.
     
    #8 usbseawolf2000, Jan 28, 2011
  9. cycledrum

    cycledrum PSOCSOASP

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    Aha, so are you saying a certain car (a plug-in) is not a hybrid?

    hehehehe .....

    Ohhh wait, you just called it a hybrid above .......

    nevermind! :)
     
    #9 cycledrum, Jan 28, 2011
  10. Tideland Prius

    Tideland Prius Moderator of the North
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    lol
     
    #10 Tideland Prius, Jan 28, 2011
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  11. SmogSlide

    SmogSlide Member

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    lol

    I would still not want to bag GM for what they have done with the Volt, given their historical track records. Only if Holden (GM Australia) brings it here and cheap, then there is a mighty competition to the Prius. A fair bit of people at work have been asking about it but when I told them the price, the interest just fall away... they would be better off getting a locally produced petrol guzzlers instead.
     
    #11 SmogSlide, Jan 28, 2011
  12. mickey513

    mickey513 Member

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    Shouldn't the main battery be factor in also? Sure it's going to last about 100k - 150k miles but it's like a $3k-$4k part (2nd generation) before labor cost. Non hybrids don't have to worry about this.
     
    #12 mickey513, Jan 29, 2011
  13. SageBrush

    SageBrush Senior Member

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    ^^ if the failure rate was 100% at that mileage range, then sure. But it is much less than 0.1%, so the average cost for that ownership interval is $3 assuming no warranty.
     
    #13 SageBrush, Jan 29, 2011
  14. F8L

    F8L Protecting Habitat & AG Lands

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    Since most Prius do not experience battery failures, this would not be included in the calculation. If you wanted to add it then you would need to add in either engine or trans failures for the non-hybrid. Because of lack of failures for any of the above items in a Prius, I would suggest not even considering them in this exercise. :)

    R epairson the Prius battery are if little concern to anyone who does a bit of research to find that batteries can be replaced for less than $1000 or up to $2000 if you can't do it yourself.
     
    #14 F8L, Jan 29, 2011
  15. ETC(SS)

    ETC(SS) The OTHER One Percenter.....

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    Actually, ALL Priuses will experience battery failure eventually...but they will also experience engine failure as well, IF they 'live' long enough. You're right though. Battery failures are no more a factor in determining the TCO for hybrids than ICE failures are for non hybrids, since you usually presume a service life of between 100,000 miles and 200,000---depending on who is bending the numbers. Batteries on Priuses with less than 100,000 miles on the clock are still under warranty, and Priuses with over 100,000 miles (mostly G2s) aren't reporting large battery failure rates. Also, if you live in a CARB state, the battery warranty is extended to like, 150K if my memory serves. So.....battery life in a non-issue in TCO calcuguessing. Initial battery (and other Hybrid component) costs are a factor, but you can usually glean a fairly rapid return for that 'premium' even with gas at (this morning’s price of) $2.75.

    There are just too many factors out there that will change the TCO for a mid-sized car---if you're one of those selfish, earth-killing people that "have" to have a mid-sized car, when a small car will do. My personal opinion (current value < $0.02) is that the Prius is probably one of the cheaper mid-sized cars out there to operate for 100,000 miles...and you get the added features of being able look down your nose at people who "have" to have an even larger vehicle to meet their needs....and you can also look down upon those who can't swing the initial $24,000 for a new G3 and have to settle for a $15,000 Yaris or Aveo, since the G3 is more "earth friendly". :D

    Most people use more than just the TCO (Total Cost of Ownership) and the EKF (Earth Killing Facor) and the CCO (Creature Comfort Options) and the all-important KCF (Kid 'Coolness' Factor) for deciding on which car that they drive, and that's just fine with me! If there were just one "best car" out there.....the morning commute would be a lot more boring!

    Like they say in the Motorcycle Safety Classes....YOU have to ride YOUR ride. :cool:
     
    #15 ETC(SS), Jan 29, 2011
  16. Tideland Prius

    Tideland Prius Moderator of the North
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    Well a Vancouver Prius cab that has done 1,000,000km (2005 model) said that they replaced the battery at 700,000km (no mention of cost). Most people won't reach 700,000km until the car is 20 years old. Most 10-15 year old Toyotas are between 300,000 and 500,000km if at all. (In my city, 10 year old cars are usually in the 200,000km range as we don't have massively long commutes or need to drive 2 hours to get to hockey practice like other parts of Canada).

    Oh and the battery is US$2,100 before labour costs.
     
    #16 Tideland Prius, Jan 29, 2011
  17. SlowTurd

    SlowTurd I LIKE PRIUS'S

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    no brake jobs on a prius for 150,000 miles


    you would do 4, 30,000 mile front brake jobs (not the 5th because it's being scrapped at 150,000) and 3 rear brake jobs on the accord.


    how much is that worth?
     
    #17 SlowTurd, Jan 29, 2011
  18. evnow

    evnow Active Member

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    Here is some rough calculation I did sometime back ...

    [​IMG]
     
    #18 evnow, Jan 29, 2011
  19. cycledrum

    cycledrum PSOCSOASP

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    Another thing the Prius or any full hybrid saves you is some ....

    >> time

    There is no waiting for the oil to circulate after powering up, just ready it, flip it in gear and go.

    Conventional cars - start it up, wait 20 seconds or so for oil to circulate, then put in gear.

    If you're just backing out into the driveway to vacuum it out or whatever, you save some time with a Prius.
     
    #19 cycledrum, Jan 29, 2011
  20. cycledrum

    cycledrum PSOCSOASP

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    It's a well known fact that Camrys still outsell Prius' by a wide margin. It's due to apparent cost.

    Toyo Sunnyvale's ad for Prius II shows $22,988 where Camry LE $19,788 which I think Avg FE is ~ 26 MPG.

    So, to make up that $3,500 difference w/ tax @ 6.2 c/mi difference, it will take 56k miles, but for those that drive a lot, it's very doable.

    But the average person doesn't know that Prius brakes last much longer than conventionals, they are often looking at purchase cost (just get us home with the car and we'lll deal with the rest later).

    If you must seat 3 adults or big children across the back, Camrys got the edge at 4" wider.
     
    #20 cycledrum, Jan 29, 2011
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