honda fit vs prius value after 10 years

No direct evidence of course, since Prius was born in 1997. But a lot of indirect evidence certainly points that way:

1. Superior reliability so far;
2. Toyota warranty of 150k miles
3. 400k mile taxis
4. Brilliant track record of quality electronics if heat is well managed

 

Of course, the Prius is primarily an ICE, so the proof is right there, if you want to stop at that point.

But wait, there's more! An ICE-only car takes an engine that is efficient (i.e. not straining) only in a narrow band of load/power and bolts it onto a complicated transmission to give it a chance to actually work.

By contrast, the Prius is designed with multiple power sources, each of which works in its most efficient range. This results in greater efficiency, which means less stress on the parts. And it means that the complicated parts of the transmission are gone, brakes last forever because of regenerative braking, etc, etc.

So subtract out some parts and add in simple parts (electric motors, battery) and the net result is a simpler (overall) system with less stress on each individual part and less stress overall. At least that's how it looks to me... the proof will be in the pudding, as they say.

 

Actually, the Prius transmission is NOTHING like what you see on the go-carts or ATVs (I think you are thinking of those belt-and-pulley CVT transmissions, which the Prius PSD transmission is NOT.)

The Prius transmission has no belts or variable-diameter pulleys. The Power Split Device transmission in the Prius has just one single planetary gearset (permanently-engaged gears). MUCH simpler, MUCH more durable than belt-and-pulley CVTs. How the Prius transmission works: Toyota Prius - Power Split Device

The big electric traction motor (MG2) drives the outer ring gear directly, which directly moves the drive wheels. No need for a torque converter because the MG2 electric motor exerts maximum torque starting at 0 RPM, which is something a gasoline engine cannot do.

The gasoline engine drives the middle planetary gears via the carrier that holds the planetary gears in place.

The center sun gear is driven by a smaller MG1 electric motor, which can act as countertorque or a starter motor for the gasoline engine.

This planetary gear system allows the three power sources to vary their power outputs, and is ingeniously simple and downright durable. The complexity is indeed in the electronics and the control software that meshes all three seamlessly.

There is nothing like it out there except what Ford uses in their hybrids and how GM implemented their electrical part of their 2-mode hybrid transmission (though they managed to make it a complicated kludge, but that's another discussion, LOL).

 

For me, I'd also throw in the lost interest on the extra money spent. $5500 seems to be a realistic difference in price (including tax). At 3% over 10 years this is about $2000. Seeing as the Prius has a higher value, yearly property taxes would run me another ~$50/year x 10 = $500.

Using the EPA's numbers at 5,000 miles per year and $4/gallon, the prius would save around $225/year on fuel. $225 x 10 = $2250.

So overall, I'm at $6000 + $2100 + $500 = $8600 - $2250 = $6350. This averages out to an extra $635/year to drive the Prius. If insurance is $435 more for the Prius, that's $1035/year or $86.25/month. I can understand that for someone on a somewhat tight budget this is a pretty big bill every month.

On the subjective front, both cars have things going for them. The Fit probably has a more versatile interior. The Prius has more backseat space. The Fit is more fun to drive from a traditional "fun to drive" standpoint. The Prius may help the environment more. etc. etc.

 

Two things that non technical people miss with the prius is the transmission and the true nature of the batteries.

First of the batteries. Victoria BC has a fleet of Prius taxis. Most are now hitting 300,000km mark (187k miles), some are hitting the 400,000 km mark (250k miles). The taxis have not shown any indication that the batteries need replacing. Why? Well, the prius battery life was estimated based on average lifespans of NiMH batteries to date. But when you look at other applications of NiMH, people tend to drain or nearly drain the batteries before recharging to full. This actually shortens the lifespan of the batteries. The prius won't let the batteries drain, and it really doesn't charge to full under normal driving. This seems to extend the battery life.

Many people are now looking at a 15 year lifespan under normal condition.

Now for the transmission: The fit uses a conventional auto transmission. This is a crude design dating back to pre WWII. It uses a funny petroleum distillate that given the right pressure becomes very viscous. This forces the gear that is running at a certain torque to get stuck. The remaining spinning gears make up the gear ratio. This system has moving parts that engage and disengage at speed. This engagement and disengagement results in wear, which during a normal use 10 year lifespan will likely require servicing.

The prius transmission does not engage or disengage gears. It will never have excessive strain on it (unless you tow things)... It is unlikely to need servicing over a 10-15 year period.

While technically part of the transmission system, the starter generator motor (MG1) is a brushless motor. This means the motor consists of permanent magnets in the rotor (in the rotating parts) and electro-magnets in the stator (the non-rotating parts). An electronic controller changes the magnetic field in the electro-magnets causing the permanent magnets to rotate.

Compare this to the fit where there is a starter motor and an alternator. Both of these are brushed systems. A brushed motor or generator uses electro-magnets in the rotating parts and permanent magnets in the fixed parts. While this seems backwards, it simplifies things. You don't need an electronic controller. By carefully configuring the geometry of the brushes, the electro-magnets will reverse polarity at the right time, resulting in the motor to continuously rotating. This also works in reverse for generating electricity. While brushed motors and generators are simple and cost less to make, the brushes wear out over time.

A regular car over a 10 year period can expect one change in both the alternator and the starter motor. The prius MG1 is unlikely to need replacement over a 30 year period.

You can also expect one or two battery changes in the first 10 years of most regular cars.

Also after 10 years the timing belt on a Honda will require changing. If you let it go, the cost of fixing would make it totally not worth it. If you fix it, it's a $1000+ service. Many people who don't want to deal with this will dump their Hondas when they reach their timing belt change period.

A 10 year old prius would definitely be a better buy than a 10 year old fit.

 

I would consider a 9K Accent for a cheap car with a warranty. Go drive one as well as the Fit , a Prius, and a Corolla. The Corolla gets great MPG and is a nice car for a low price. Also I would not hesitate to buy another Hyundai or Corolla. Those two are the best values for your money IMHO. In addition, I am very impressed with the low total cost of ownership with a Corolla assuming you get a great discount on one. Honda's are also great cars BTW as I have owned 4 since 2003. Just getting a great deal on one is a real problem. When they had that clearance on the 2009 Prius , I jumped. Love my Prius man.
http://autos.msn.com/research/vip/pricing.aspx?year=2009&make=Hyundai&model=Accent&trimid=-1

 

What a great link, thanks!!!

 

As someone else mentioned, the PSD is not a typical CVT. Toyota uses the term CVT because people get the concept, but mechanically it's much more reliable.

From my research, I'd say that the PSD is built like a 2-speed automatic transmission, without the inefficient torque converter (hydraulics), and because the computer can continuously control the two electric motors it creates a continuously variable effect instead of just a 2-speed.

I also didn't mention that the Prius has no serpentine belt and no starter motor. Again, some simple things added, but other things subtracted, for an overall decrease in maintenance.

(I'm not sure if it's for the life of the vehicle, but at least for the first years, you don't need to get an emissions inspection, at least in Virginia, which is another maintenance hassle saved.)

 

The emissions thing is pretty standard everywhere emissions are tested. The reason is: emissions are tested by connecting a tail pipe to sensors while running the engine at certain rpms. The Prius just doesn't do that. Resulting in unusable data. So most governments that require emission tests, just exempted hybrids. Though you can test a honda IMA car on these just fine. And a malibu hybrid can also be tested, but does it produce less greenhouse gases? It certainly doesn't save you much fuel...

 

I love my Prius and quite honestly think its the best balanced vehicle I have ever driven. But if I drove less then 10,000 miles a year and was concerned with what would cost me less in the long run I would never have bought a new car and that includes my Prius. I would have gotten a used Camry, Corolla, Accord, or Civic with 100,000 + miles on it and paid cash.

 

I hedged my bets, of have one of each...