From a discussion at a blog, I came up with this regarding the mythical "$3000 hybrid premium". Thought you might find it interesting... Regarding pricing of hybrids and the so-called premium, yes, they do cost a little more. But they are not out of reach for most new car buyers and in fact there isn't that much of a premium any more, especially with the tax credits. Here are some comparisons of of similarly equipped models (which is a little complicated because the hybrids generally come with more features/options standard): Honda Civic: LX: $21,107 Hybrid: $23,893 Hybrid tax credit: $2100 Net hybrid cost: $21,793 Hybrid premium: $686 Toyota Camry: XLE: $24,900 Hybrid: $26,200 Hybrid tax credit: $650 Net hybrid cost: $25,550 Hybrid premium: $650 Ford Escape: XLT: $22,830 Hybrid: $25,740 Hybrid tax credit: $3000 Net hybrid cost: $22,740 Hybrid premium: -$90 Tax credits are as of April 2007. You can't do a fair comparison on the Prius because it only comes in hybrid. It's probably somewhere in between the Corolla and the Camry in terms of size, comfort and features, and so is the price. The Prius is virtually the same price as a similarly equipped Honda Civic Hybrid (before tax credits).
I hope someone will do the "hemi premium" comparison. Then maybe I will finally figure out why someone doesn't mind paying the extra for the Hemi. Wayne
This is a ballpark figure a writer thru out their years ago. The questions to keep in mind: How much more does my hybrid cost over what I was going to get (or what I traded it in for)? How long will it take for my gas saving to make up the difference. I tell most people about five years or 100,000 miles - your results will vary.
<div class='quotetop'>QUOTE(Delta Flyer @ Apr 9 2007, 12:33 PM) [snapback]420314[/snapback]</div> In my case, I traded a $32K Ford Explorer Eddie Bauer V8 that got about 14MPG around town and about 20MPG on the highway. So the Prius cost less and costs less to drive. And I can still haul a lot of junk. So it's a win win! In fact, the Prius is the least expensive car we've bought in more than fifteen years. (Disclaimer: I still have a Ford Freestyle for business/long road trips if I need to haul even more junk.)
<div class='quotetop'>QUOTE(rtn @ Apr 9 2007, 12:24 PM) [snapback]420304[/snapback]</div> As a hatchback, the Matrix may be a better Toyota to compare with a Prius, though it's still not apples-to-apples.
<div class='quotetop'>QUOTE(JimboK @ Apr 9 2007, 12:45 PM) [snapback]420322[/snapback]</div> True. We considered the Matrix (and the Nissan Versa) when we were shopping. If you do that comparison: Matrix: $18,338 Prius: $23,370 Diff: $5032 I don't really consider that a "premium", though. The Prius seems like a "nicer" car, whatever that means. Like you say, it isn't apples-to-apples, since there isn't a hybrid Matrix and there isn't a gas-only Prius. (I note the cargo capacity for the Matrix is listed at 53.2 cubic feet with the seats folded down, but they don't list it that way for the Prius. It just says 14.1 cf "luggage" capacity. Anybody know what it is with the seats folded down? For practical purposes, whatever it is it's a lot and it's all we need almost all the time.)
Uh, don't you guys know that the battery will need to be replaced in 3 years and costs $10,000? That's where the premium is. Not only that, it costs $3 a mile overall, didn't you read the Hummer vs. Prius article? You guys need to be informed.
<div class='quotetop'>QUOTE(rtn @ Apr 9 2007, 01:03 PM) [snapback]420335[/snapback]</div> We looked at the Matrix too when shopping for a Prius. One of the main differences in price is that the base Matrix truely is base with very little features. The base Prius comes loaded with features. The Matrix we would have been interested in had an MSRP of about 21K vs. 23.8K for the Option 1 Prius that we were interested in. One test drive was all it took to convice me that the Prius was the superior vehicle in almost all aspects; particulary acceleration, handling, and even suspenson (you could feel every bump in the road in the Matrix). Factor in the tax credit and fuel savings/environmental benefit and buying the Prius was a no-brainer. It was a pleasant surprise to be able to the negotiate for the Option 1 Prius we wanted at under dealer invoice (just under 22K). Would have been more than willing to pay sticker if that's what it took.
rtn: are you sure those numbers are correct? I looked at autos.yahoo.com, and the civic LX costs $17,760, perhaps you meant the EX? cause the EX with auto and nav costs $21,260 MSRP. And the civic hybrid with nav costs $24,350. Plus, the rebate I believe is 2500 not 2100. Where did you get these numbers btw?
In this article from today's CNN.com front page, there's now the "fuel efficient vehicle" penalty in the amount of $5000-6000 fabricated by GM : http://money.cnn.com/2007/04/09/autos/plug...dex.htm?cnn=yes I think I saw that somewhere else recently as well, and even in the original article there was no support for that number. If GM says it's so, then it must be true! The Hybrid Premium/Tax lives on....
<div class='quotetop'>QUOTE(nark @ Apr 9 2007, 05:12 PM) [snapback]420370[/snapback]</div> Went through the respective manufacturer's websites "build and price" and tried to pick similar options. The tax credit info was from the IRS, found here: http://www.irs.gov/newsroom/article/0,,id=157632,00.html
<div class='quotetop'>QUOTE(mywhitenoise @ Apr 9 2007, 12:22 PM) [snapback]420342[/snapback]</div> If you believe Dust to Dust, then you better buy Kevin Trudeau's books ( http://en.wikipedia.org/wiki/Kevin_Trudeau ) because our toxic food and tap water is KILLING US!!!
<div class='quotetop'>QUOTE(mywhitenoise @ Apr 9 2007, 01:22 PM) [snapback]420342[/snapback]</div> OMG! Really? The salesman failed to mention that. And the finance guy didn't even offer us extended battery replacement gap insurance coverage, or we would have bought that along with the wheel and tire insurance with free air changes, the extended spark plug and radio fuse replacement warranty, and the meteorite impact protection plans he sold us so we could be fully covered!* And not only that, it only gets 50 MPG instead of the 61 MPG promised on the window sticker. That's it. I'm taking it back and getting one of those more sturdy Tundras. (*I'm only half kidding. The "extras" the finance guy wanted to include added up to almost $10K. Seriously. I am not making that up.)
<div class='quotetop'>QUOTE(rtn @ Apr 9 2007, 04:48 PM) [snapback]420389[/snapback]</div> son of a... I am pretty sure at the dealership they were saying 2500 back. But then again, perhaps my memory is failing :lol: . Nice job on the post.
I have had my Pruis for two years and already cashed in on the tax rebate but I remember when i first bought it the dealer tried to charge me a $3,000 "premium" charge. When i asked for the exact price the sales person said just add on three thousand to the price , which turned out to be a crock of crap. The dealer up the road had no premium and got me my car as soon as they found the particular package and color i requested. Any one else run into that problem?
<div class='quotetop'>QUOTE(Delta Flyer @ Apr 9 2007, 11:33 AM) [snapback]420314[/snapback]</div> $0 <div class='quotetop'>QUOTE(Delta Flyer @ Apr 9 2007, 11:33 AM) [snapback]420314[/snapback]</div> 0. Started saving on my first tank. I paid the same for my '05 #1 Prius as I did for my 1996 Saturn SC2 coupe. That's what I was looking to spend on replacing the Saturn.
<div class='quotetop'>QUOTE(mywhitenoise @ Apr 9 2007, 12:22 PM) [snapback]420342[/snapback]</div> So....why does it come with a 15 year warranty?
<div class='quotetop'>QUOTE(wendlyn @ Apr 9 2007, 11:19 PM) [snapback]420672[/snapback]</div> he was being sarcastic
<div class='quotetop'>QUOTE(Tideland Prius @ Apr 10 2007, 02:26 AM) [snapback]420690[/snapback]</div> *whew* Thanks for clearing that up for me.......early in the morning and all. Got me on that one!!
There was a hybrid premium and more or less still is, in that you were forced to take a Prius with all its goodies at the $22K to $26K price, instead of being able to get an inexpensive, bare-bones Corolla hybrid. It's the same "package" situation carmakers use regularly--"oh, so you want the sunroof, well, that comes only with the leather seats and the navigation". You have to take it all, or don't take it. You can talk about what a great deal the Prius is because of all the technology built into it and all the doodads and gewgaws, but if you don't want any of those things, you're paying a premium just to get the hybrid technology. It's all being forced on you by the automaker. If Toyota were being responsible about all this, they'd offer a hybrid Corolla. Instead, they've put the hybrid technology into the Prius and the Camry and the various Lexus cars. The premium is real. If you want hybrid technology, you have to buy higher end cars and spend money on features that have nothing to do with the hybrid technology itself.
