Help me do the Math

Absolutely its cheaper to own and run than your Prius, its an economy car thats only benefit is that its cheap.

It makes absolutely no sense to cross shop the Aveo and the Prius, completely different level of car.

 

As far as the pure math goes, I think your friend is right.

2500 miles a month at 50 mpg is 50 gallons per month.
2500 miles a month at 30 mpg is ~83 gallons per month.

This is a difference of 33 gallons per month, or a difference of $100 per month (at a cost of $3 per gallon).

Like others here, I disagree that comparing an Aveo to a Prius is comparing apples to apples, but from a pure "cheapest way to get from Point A to Point B," the Aveo wins with the numbers you've given here.

 

Total cost of ownership is a lot more than just gas and monthly payment. Factor in maintenance cost, insurance, depreciation. Also factor in how long you plan on keeping either car. The Aveo does not have a good track record for longevity, so you might have to replace it a lot sooner than the Prius.

Lastly there is a reason why the Aveo is so cheap, drive one and see if you can live with it.

BTW what type of loans do you get, as $185 a month for a Aveo and $385 for a Prius sound very low.

 

Hi Paprius4030,

Well, lets see. Brakes are $500 every 40K miles on the the Aveo, or $31.25 per 2500 mile month.

Starter is $200 per 75K miles, or $6.67 per 2500 month.

And of course the Aveo is not going to get 30 mpg if you get in a taffic jam, where if its a slow and go traffic jam the Prius will be getting 60 mpg plus.

If the Aveo needs $2500 a transmission rebuild at 100 K miles, thats $62.50 a 2500 mile month.

So, this then matches the Aveo. $100 for gas and $100 for maintenance extra on the Aveo. And if you regularily get in slow and go traffic jams, your ahead in the Prius. Or if the price of gas goes above $3.00 a gallon , Prius is ahead again.

Which Aveo are we talking about ? The $15K plus one that almost matches a base Prius option levels at a little bit smaller size, or the much smaller hatchback with a manual trans and steel wheels that is much less? There are cheaper ways to get around than a Prius or 4 door Aveo, but then its a matter of apples and oranges, versus the Prius / Aveo Oranges and Tangerines comparison.

 

<div class='quotetop'>QUOTE(bulldog @ May 13 2007, 09:23 PM) [snapback]441447[/snapback]</div>

do not know if the interest rate makes any sense, but the numbers are close to the monthly payments for both for a 5-year 4.5% APR loan.

 

Now compare the Aveo to a moped, and see how good it looks! You can buy a GEM for $10,000 and pay nothing for gas.

Kidding aside, why bother comparing these two cars? If you want a cheap car, buy the cheap one and save money. If you want a good car that will leave a smaller footprint, and you're willing to pay a bit more for quite a bit more car, then buy the Prius.

That's the question... is it ONLY about the money?

 

I second (and third) all that darelldd has said.

My purchase was definitely NOT about the money.

I could have gotten a '72 SuperBeetle for 1/6th the price, and it
would have taken care of my meager transportation needs.

I love the Bugs, but I love my Pri (and the emissions that
it does not create) even more.

Buy whatever fits your budget.

I hope it's the Pri!!!

 

... disregard this post. Sorry.

 

<div class='quotetop'>QUOTE(paprius4030 @ May 14 2007, 07:52 AM) [snapback]441532[/snapback]</div>

That is so old-school.

 

How about HOV rides in Some States? Especially in Virginia..
Route 66 Is HOV at the Peak Work Hours and you have a lane on most of the Highways for HOV (Heavy Occupanyc vehicle )usage

 

But don't forget, according to CNW Marketing, the second a Prius goes over 99,999 miles the battery immediately dies and costs, according to their study, "Eleventeen gazillion dollars to replace."

 

Meh...pointless argument. If he likes his Aveo, great! It's a reasonable car for one person to drive around. And at half the cost it probably is cheaper to drive...until parts start to fall off of it. (Daewoo is not known for the highest manufacturing quality.) But it's a totally different car built for a totally different market segment. The Aveo is built for people who want a functioning car for the lowest price possible. The Prius is built for people who want a midsize car and very high fuel efficiency, and are willing to pay for it.

 

The Prius also received significantly better crash-test ratings than the Aveo (i.e., Good-Front, Good-Side, Marginal-Rear compared to Acceptable-Front, Marginal-Side, Poor-Rear) from the IIHS.

 

I suspect that if you keep the car for 150,000 miles, you will spend more money overall on the Prius than on a Yaris. Buying a Prius strictly to save money does not make sense.

 

<div class='quotetop'>QUOTE(paprius4030 @ May 14 2007, 12:33 AM) [snapback]441414[/snapback]</div>

Not that this was in your question, but you could mention the satisfaction ratings for the two. 46% of Aveo would buy it again, 92% of Prius owners are satisfied. So you could tell him you are twice as satisfied and that is priceless!

Comparing a Prius on money does make sense, if you are talking comparing to similar vehicles. Compared to vehicles with less features and/or a different class won't make much cents.

Edit: Just checked Edmunds and their True Cost To Own for five years has the Aveo at $31,188 (.42 a mile) and the Prius at $34,902 (.47 a mile). Even with the very smaller car, not too bad a comparison. I wonder if your friend would rather have an Aveo worth about $4k after 5 years or a $10K Prius.

 

<div class='quotetop'>QUOTE(Betelgeuse @ May 14 2007, 12:00 AM) [snapback]441431[/snapback]</div>

You really need to factor in depreciation. Yahoo autos, MSN autos and intellichoice/edmuds have very good calculators.


According to msn autos: 5-Year Total Cost of Ownership for Aveo $25,092 for Prius $22,239
According to yahoo Autos: Total Cost to Own $32,302 $34,765
According to intellichoice: $35,423 $36,514